Why Gabelli’s International Small Cap Fund Likes Manchester United plc (MANU)

Gabelli Investment Management Firm recently released its “International Small Cap Fund” second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The Fund faced a challenging investment environment in the second quarter of 2026, as its Class I shares declined 2.15%, compared with a 9.24% gain for the MSCI EAFE Small Cap Index. The fund’s performance was pressured primarily by its gold-mining holdings as gold prices retreated, while its Japanese exposure was a...