Mario Gabelli Stock Portfolio: Top 10 Stock Picks

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6. American Express Company (NYSE:AXP)

GAMCO Investors’ Stake: $156 Million

American Express Company (NYSE:AXP) has constantly featured in the 13F portfolio of GAMCO Investors for many years. The fund first disclosed a stake in the company back in the third quarter of 2012. This position comprised just under 4 million shares and was sold off within months. A new position was then opened that comprised 3.4 million shares. Since this disclosure, Gabelli has steadily trimmed this holding. Filings for the fourth quarter of 2025 show that the fund owns 422,000 shares in the company, down more than 5% compared to filings for the third quarter of 2025.

American Express Company (NYSE:AXP) has been a favorite for investors on Wall Street as it is a quality holding, driven by an affluent customer base and a unique position as both a card issuer and a payment network. Unlike traditional banks that rely heavily on interest income from revolving balances, American Express thrives on transaction volume. Hedge funds favor AXP’s ability to collect a percentage of every dollar spent on its cards. In late 2025 and early 2026, the company reported strong discount revenue driven by a 36% growth in spending among Gen-Z and Millennial customers. Because AXP acts as the bank, the processor, and the network, it captures more profit per transaction than competitors who must share fees with third-party banks.

While we acknowledge the potential of AXP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AXP and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see Mario Gabelli Stock Portfolio: Top 5 Stocks Picks.

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