Headquartered in New York, GAMCO Investors, Inc., was founded by Mario Gabelli in 1977. Since then, it has operated under a simple premise: to earn a superior absolute return for clients through the implementation of its proprietary Private Market Value (PMV) with a CatalystTM approach to value investing. Gabelli is known for the rigorous application of this fundamental value investing discipline.
The Firm’s research team covers industries on a global basis in order to identify attractive investment opportunities. It opened its London research office in 2000, immediately following Vodafone’s hostile takeover of Mannesmann. Today, the Firm’s research efforts span the globe.
Publicly traded on the New York Stock Exchange (GBL), Gabelli Asset Management consists of over 200 proven and tenured professionals dedicated to client returns. Clients include corporate pensions, endowments, high net worth families, and retail funds. The Firm manages fourteen NYSE traded closed end equity funds, making it one of the largest closed end fund managers in the United States, as well as two LSE traded closed-end equity funds.
Overview of Gabelli Europe
Long History of Institutional Presence
- Introduced our first portfolio offering to European clients in 1987 in conjunction with GAM; the GAM GAMCO Equity fund
- Operates its multifaceted FCA authorised satellite office in London with an emphasis on:
- Global sector, special situation and merger arbitrage analytical efforts
- Portfolio management historically in global equities, risk arbitrage and convertibles management
- Distribution support, serving the European market with data and investor relations functionality
- Coordinating activities with a full integration into the New York headquarters’ processes and controls
- Today, Gabelli European clients include high net worth individuals, sub-advisory, and direct pension relationships
Our Investment Approach
Continuing a Value Investing Legacy
- Our approach is founded on the principles of Graham & Dodd –
- Furthered academically by our founder Mario Gabelli
- Establish PMV to determine margin of safety
- Invest within circle of competence
- Invest as fractional owners of businesses
- Intensive proprietary research culture
- Focused and rigorous fundamental analysis in valuing the underlying business using publicly available information including data from customers, competitors, product and new technologies
- Identify catalysts to earn returns independent of the market
- Build portfolios with a margin of safety to minimise risk of capital loss with position weightings emphasizing catalysts
Gabelli supplements the principles of Graham & Dodd through the implementation of our proprietary Private Market Value (PMV) with a Catalyst™ approach
Mario Gabelli, CFA
Chairman, Chief Executive Officer of GAMCO Investors, Inc
Mr. Gabelli is the Founder, Chairman, and Chief Investment Officer of GAMCO Investors, Inc. He is one of the most respected investors in the United States and is a leading proponent of Value Investing. His proprietary Private Market Value with a Catalyst™ methodology has become an analytical standard in the Value Investing community. Mr. Gabelli lead manages the GAMCO and Gabelli Funds value investing portfolios since inception. Mr. Gabelli built the Gabelli organization from its origins of Gabelli & Company, the institutional research boutique started in 1976. In 1977 he started GAMCO Investors, offering institutional asset management services through separately managed individual accounts. Mutual Funds were offered in 1986, the year following the firm’s first hedge fund launch in 1985. He holds an M.B.A. from Columbia University Graduate School of Business, and is a summa cum laude BS graduate from Fordham University. Mr. Gabelli is a Chartered Financial Analyst (CFA). He is a member of the Board of Overseers of Columbia University Graduate School of Business. Mr. Gabelli is involved with a number of charity organizations. He is a long-time Trustee of the Winston Churchill Foundation of the United States.
Marc Gabelli is President and Director of GGCP, Inc. (The Gabelli Group), the parent company of GAMCO Investors (GBL:NYSE) and Associated Capital (AC:NYSE), where he is also a director and President.
Mr. Gabelli is a senior portfolio manager with GAMCO. His focus is global, catalyst-driven value investing across all market capitalisations and industry sectors. His portfolio assignments have included hedge fund management since 1990 and traditional asset management since 1994. He has managed several Morningstar five star mutual funds, and a Lipper #1 ranked global equity mutual fund in the U.S. He helped lead GAMCO’s initial public offering, built the GSI hedge fund platform, and expanded the business internationally, opening the Gabelli London and Tokyo offices. Marc Gabelli has also served as Chief Executive Officer of Gabelli Securities International Ltd. since 1994.
Mr. Gabelli started his investment career in arbitrage at Lehman Brothers International. He holds an MBA from the Massachusetts Institute of Technology (MIT) Sloan School of Management, a BA from Boston College, and the SEP diploma from Stanford University. He is a member of the New York Society of Securities Analysts. Mr. Gabelli is registered with the FCA to undertake the controlled functions of a CF1 Director and CF3 Chief Executive. He is involved with various educational charities. In the UK, he is a board member of the Sutton Trust.
Caesar M.P. Bryan
Mr. Bryan is a Senior Portfolio Manager specializing in special situations and international equities. He has been a portfolio manager at Gabelli since 1993, leading several Gabelli funds since their inception. His portfolio assignments have included open ended mutual funds, closed ended investment companies, managed accounts and hedge funds. He currently is a member of the growth portfolio management team and leads the Gabelli International Growth Fund and the Gabelli Natural Resources & Income Trust. Caesar started his career at Samuel Montagu as an equity analyst and portfolio manager. Mr. Bryan is a member of the English Bar and holds a Bachelor of Law from the University of Southampton (UK).
Mr. Dreyer is a Portfolio Manager on the All Cap Value Team and Portfolio Manager of the Gabelli Asset, Global Opportunity, and SRI Funds as well as the Gabelli Equity, Dividend & Income, and Healthcare & Wellness Trusts. Furthermore, he is one of two Global Research Coordinators guiding the research efforts of the firm and overseeing the implementation of our proprietary process. Mr. Dreyer started at Gabelli as a research analyst covering consumer goods, and later went on to lead the consumer and health & wellness research teams. Prior to Gabelli, he began his business career as an Investment Banking Analyst at Banc of America Securities in the firm’s Mergers & Acquisitions department. Mr. Dreyer holds an MBA from Columbia University Graduate School of Business and BSE from the University of Pennsylvania.
Lawrence J. Haverty, CFA
Mr. Haverty is a Portfolio Manager and specialist in the media, publishing and entertainment industries on a global basis. He was most recently a managing director for consumer discretionary research at State Street Research, the Boston-based subsidiary of Metropolitan Life Insurance Company. Previously, he held positions at Putnam Management and Fred Alger Management. Mr. Haverty is a Chartered Financial Analyst (CFA). He holds a BS from the Wharton School and an MA from the Graduate School of Arts and Sciences at the University of Pennsylvania.
Mr. Roche is Director of Quantitative Strategies and Portfolio Manager of the Gabelli Capital Structure Arbitrage Fund. He is an expert in identifying capital structure arbitrage opportunities globally. Prior to joining Gabelli, he was on the Credit Lyonnais equity proprietary desk in New York. He holds an MS in Mathematics of Decision Making from EISITI, France and an MS in Finance from ESSEC, France.
Robert Leininger, CFA
Mr. Leininger is a Senior Portfolio Manager and security analyst with an emphasis on large cap value special situations. He started his career with Gabelli in 1993 covering the beverage industry globally and currently manages a variety of institutional separate accounts and funds. He is a Chartered Financial Analyst (CFA), and is a member of the Financial Analyst Society of Philadelphia. Mr. Leininger was previously a portfolio manager at Rorer Capital, Copeland Management and PNC Financial. Mr. Leininger is a magna cum laude graduate of Amherst College with a degree in Economics holds an MBA from the Wharton School at the University of Pennsylvania.
Mr. Marangi is Portfolio Manager of the Gabelli Value Portfolios. He also leads the Firm’s Cable, Satellite and Entertainment research groups. He began his career as an investment banking analyst with J. P. Morgan & Co and later joined private equity firm Wellspring Capital Management. He holds an M.B.A. from Columbia University Graduate School of Business and graduated magna cum laude and Phi Beta Kappa with a BA in Political Economy from Williams College
Mr. Plewniak is Managing Director and Head of Gabelli Fixed Income. He is Portfolio Manager of the Gabelli Intermediate Credit Fund and has over 25 years of experience in managing credit strategies. Prior to joining Gabelli, he was a Managing Director and Senior Portfolio Manager at Neuberger Berman and Lehman Brothers. Mr. Plewniak holds an MBA in Finance and International Business from Georgetown University and BS from the Rochester Institute of Technology.
Mr. Rocco is a Senior Partner and Portfolio Manager within Gabelli’s Investment Partnership Group. He is a 15 year member of the Firm’s merger arbitrage team. Mr. Rocco’s primary responsibilities include M&A research and the management of the Gabelli Associates and GAMCO Merger Arbitrage Funds. He holds a BA in Economics from Rutgers University.
William (Bill) Selby, CFA
Mr. Selby is a Managing Director. He is Chairman of the firm’s Proxy Voting Committee. He is a CFA Charterholder as well as a member of the New York Society of Security Analysts and the Association for Investment Management and Research. Prior to joining GAMCO in 1985, Bill held positions as Senior Planning Analyst and New Business Development with CBS Television Network and as Reporter and Anchor with WNEV-TV Boston. Bill graduated also from the MIT Sloan School of Management with an MBA in Finance and from Hampshire College with a BS in Biology and Chemistry.
Howard Ward, CFA
Mr. Ward is GAMCO’s Chief Investment Officer of Growth Equities and Portfolio Manager of Growth Portfolios. Howard joined GAMCO Investors, Inc. in 1995 as Senior Vice President and Portfolio Manager of the GAMCO Growth Fund. In 2004 he was named Director of Growth Products. Prior to joining Gabelli, Howard spent twelve years at Scudder, Stevens and Clark where he served as Managing Director and Product Leader of Scudder’s large capitalisation growth product and lead Portfolio Manager. Prior to joining Scudder, Howard was with Brown Brothers, Harriman & Co. for four years where he held the title of Investment Officer in the firm’s Institutional Investment Department. Howard is a Chartered Financial Analyst (CFA) and a member of the New York Society of Security Analysts. He graduated from Northwestern University in 1978 with a BA in economics.
Justin Bergner, CFA
Mr. Bergner began his investment career at Gabelli & Company in 2005 as a metals and mining analyst. He began his business career in management consulting at Bain & Company, where he worked on strategy assignments for a number of industrial companies. Justin is a Chartered Financial Analyst (CFA) and graduated from Yale University cum laude with a BA in Economics & Mathematics and received an MBA in Finance and Accounting from Wharton Business School.
Evan Miller, CFA
Mr. Miller is Managing Director of Gabelli’s London office and a specialist in global telecommunications. He has been investing in corporate restructurings, with an emphasis in the telecommunications industry, for over 25 years. Prior to joining Gabelli, he was the Senior European Telecommunications Research Analyst with Lehman Brothers and Credit Suisse First Boston in London. Mr. Miller is a Chartered Financial Analyst (CFA). He holds an MBA from the University of Chicago and BA in Economics from Northwestern University.
Mr. Sponheimer currently oversees the Industrial Research Platform for the firm. Brian also is responsible for coverage of Automotive and Capital Equipment, and directs Gabelli’s Annual Automotive Aftermarket Symposium, which will celebrate its 38th consecutive year in November in Las Vegas. In 2011, Brian was recognized by both the Wall Street Journal and the Financial Times as “Best on the Street” among Wall Street analysts. He began his business career in institutional equities at CIBC World Markets in New York and Boston. Brian graduated cum laude from Harvard University with a BA in Government and received an MBA in Finance and Economics from Columbia Business School.
Mr. Sykes is a research analyst covering financial services. He was ranked #1 in Investment Services, by the Wall Street Journal’s, “Best on the Street Analyst Survey.” He most recently finished runner-up for capital markets coverage in Starmine’s 2014 survey for best stock picking analysts. Macrae began his business career as an institutional trader at Donaldson, Lufkin & Jenrette/CSFB. Just prior to joining Gabelli, Macrae was a partner in a seeder/incubator platform (VanthedgePoint Group) for emerging hedge funds. He graduated from Hamilton College with a BA in Economics and received an MBA in Finance from Columbia Business School. Macrae is also a registered options principal.
Board of Directors
Chairman and Chief Executive Officer
GAMCO Investors, Inc.
GAMCO Asset Management (UK) Ltd.
Edwin L. Artzt
Former Chairman and Chief Executive Officer
Procter & Gamble Company
Raymond C. Avansino, Jr.
E.L. Wiegand Foundation
Richard L. Bready
Former Chairman & Chief Executive Officer
Eugene R. McGrath
Former Chairman and Chief Executive Officer
Consolidated Edison Company of NY
Robert S. Prather, Jr.
President and Chief Executive Officer
Heartland Media, LLC.
Elisa M. Wilson
Gabelli Foundation, Inc.