GF

Gabelli Funds LLC

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$14.8B

Reporting period: 2026-03-31 · Number of holdings: 1264

GABELLI FUNDS LLC disclosed 1264 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $14.8B and a quarterly turnover rate of 19.3%.

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Personality snowflake

Concentration
1.7
Portfolio Stability
19.32
Momentum/Contrarian
100
Sector conviction
36.69
Diversification
100
Sizing Uniformity
79.11

Recent moves

  • Trim MSFT

    -6.3%　-$72.2M

  • Trim AXP

    -7.0%　-$42.1M

  • Trim KKR

    -0.7%　-$38.3M

  • Add NFG

    -1.0%　$30.5M

  • Trim SONY

    -2.3%　-$28.6M

  • Trim MA

    -1.9%　-$27.7M

Holdings Map

New buyAddUnchangedTrim

Institutional Game-State Analysis

Core Intent

GABELLI FUNDS LLC is systematically harvesting momentum alpha across an engine of 1,264 names, trimming its largest winners like MSFT and AXP while maintaining extreme diversification (HHI 0.0042). This is not a defensive rotation but a disciplined rebalancing of factor exposure — selling into strength to recycle capital into the next wave of momentum signals.

Macro & Fundamentals

The sector mix — overweight Industrials (22.6%), Financials (11.9%), and Energy (9.6%) with a stabilizing anchor in Utilities (12.1%) — prices a regime of steady growth with sticky inflation, betting that rate normalization supports cyclical profits. The opposing thesis is a hard landing where industrial and financial cyclicals get crushed and the modest 5.7% Healthcare/3.8% Staples buffer proves inadequate.

Blind Spots / Risks

With 1,264 positions and a momentum personality score of 100, this portfolio is a pure momentum factor proxy. The structural vulnerability is reflexivity risk: when momentum crowding becomes consensus and reversals spike, the extreme diversification provides zero idiosyncratic defense but amplifies systematic pain through correlated exits.

The above is AI-generated from public regulatory filings and summarizes historical data only. It is not investment advice.

Top 10 holdings by weight

Full holdings list this quarter

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1NEMNewmont CORPStock-Materials1.61%+0.09%-1.94%
2NVDANvidia CORPStock-Tech1.51%-0.10%+0.39%
3NFGNational Fuel Gas CoStock-Energy1.48%+0.20%-0.99%
4AMEAmetek INCStock-Industrials1.34%—-1.63%
5MSFTMicrosoft CORPStock-Tech1.24%-0.49%-6.29%
6NEENextera Energy INCStock-Utilities1.20%+0.13%-2.90%
7MAMastercard INC - AStock-Financials1.13%-0.19%-1.93%
8BNYBank Of New York Mellon CORPStock-Financials1.00%—-6.51%
9GATXGatx CORPStock-Industrials0.98%—-7.48%
10DEDeere & CoStock-Industrials0.94%+0.14%-2.71%
11MLIMueller Industries INCStock-Industrials0.92%-0.13%-8.85%
12AXPAmerican Express CoStock-Financials0.90%-0.29%-7.04%
13AMZNAmazon.com INCStock-Consumer Disc0.86%-0.13%-2.94%
14MSGSMadison Square Garden SportsStock-Comm Services0.85%+0.16%-0.87%
15CRCrane CoStock-Industrials0.83%-0.11%-4.50%
16RSGRepublic Services INCStock-Industrials0.81%—-3.33%
17GOOGAlphabet Inc-cl CStock-Comm Services0.75%-0.15%-8.33%
18XOMExxon Mobil CORPStock-Energy0.73%+0.14%-12.10%
19SONYSony Group CORP - Sp AdrStock-Tech0.73%-0.19%-2.28%
20AAPLApple INCStock-Tech0.72%—-0.51%
21GOOGLAlphabet Inc-cl AStock-Comm Services0.67%—-0.50%
22KKRKkr & Co INCStock-Financials0.67%-0.26%-0.67%
23METAMeta Platforms Inc-class AStock-Comm Services0.65%-0.12%-1.40%
24LLYEli Lilly & CoStock-Healthcare0.65%-0.11%+0.14%
25LEN-BLennar CORP - B ShsStock-Other0.65%-0.08%+0.11%
26ORLYO'reilly Automotive INCStock-Consumer Disc0.64%—-1.12%
27CVXChevron CORPStock-Energy0.62%+0.11%-9.04%
28BRK-ABerkshire Hathaway Inc-cl AStock-Other0.62%—-3.03%
29GEGeneral ElectricStock-Industrials0.60%-0.09%-5.42%
30JPMJpmorgan Chase & CoStock-Financials0.59%-0.13%-10.09%
31EVRGEvergy INCStock-Utilities0.58%—-1.64%
32AVGOBroadcom INCStock-Tech0.58%—-1.13%
33TXTTextron INCStock-Industrials0.57%—-1.81%
34SWXSouthwest Gas Holdings INCStock-Utilities0.57%—-4.75%
35NFLXNetflix INCStock-Comm Services0.56%—+10.70%
36FLSFlowserve CORPStock-Industrials0.54%—-2.98%
37CNHCNH Industrial N.V.Stock-Industrials0.53%+0.09%+0.27%
38AEPAmerican Electric PowerStock-Utilities0.52%—-1.65%
39HONHoneywell International INCStock-Industrials0.52%—+2.24%
40ITTItt INCStock-Industrials0.52%—-0.30%
41OKEOneok INCStock-Energy0.52%+0.10%+0.85%
42CATCaterpillar INCStock-Industrials0.50%+0.12%+7.53%
43GPCGenuine Parts CoStock-Consumer Disc0.49%-0.10%-2.37%
44FCXFreeport-mcmoran INCStock-Materials0.47%—-10.82%
45WECWec Energy Group INCStock-Utilities0.46%—-0.76%
46TXNTexas Instruments INCStock-Tech0.46%—-3.83%
47COPConocophillipsStock-Energy0.45%+0.14%+1.30%
48COSTCostco Wholesale CORPStock-Consumer Staples0.44%—-10.61%
49CWCurtiss-wright CORPStock-Industrials0.44%—-6.19%
50TDSTelephone And Data SystemsStock-Comm Services0.43%—-0.49%
1–50 of 1,264

Holding changes this quarter

Gabelli Funds LLC's most significant position changes for 2026-03-31: Sold out: Frontier Communications Pare (FYBR); Sold out: Cidara Therapeutics INC (CDTX); Sold out: Dayforce INC (DAY); Sold out: Confluent Inc-class A (8QR); Sold out: Exact Sciences CORP (EXK).

Position changes disclosed by Gabelli Funds LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1NFGNational Fuel Gas Co+0.2%-0.99%Trim
2MSGSMadison Square Garden Sports+0.2%-0.87%Trim
3DEDeere & Co+0.1%-2.71%Trim
4XOMExxon Mobil CORP+0.1%-12.10%Trim
5COPConocophillips+0.1%+1.30%Add
6NEENextera Energy INC+0.1%-2.90%Trim
7CATCaterpillar INC+0.1%+7.53%Add
8MASI*Masimo CORP+0.1%+285.57%Add
9CVXChevron CORP+0.1%-9.04%Trim
10SDASealed Air CORP+0.1%+58.51%Add
11MPCMarathon Petroleum CORP+0.1%-6.89%Trim
12GABFGabelli Fin Srvcs Opp ETF+0.1%+805.25%Add
13OKEOneok INC+0.1%+0.85%Add
14CWANClearwater Analytics Holdings, Inc.+0.1%+186.52%Add
15NEMNewmont CORP+0.1%-1.94%Trim
16CNHCNH Industrial N.V.+0.1%+0.27%Add
17LEN-BLennar CORP - B Shs-0.1%+0.11%Add
18GEGeneral Electric-0.1%-5.42%Trim
19NVDANvidia CORP-0.1%+0.39%Add
20GPCGenuine Parts Co-0.1%-2.37%Trim
21LLYEli Lilly & Co-0.1%+0.14%Add
22CRCrane Co-0.1%-4.50%Trim
23WBDWarner Bros Discovery INC-0.1%-18.26%Trim
24METAMeta Platforms Inc-class A-0.1%-1.40%Trim
25JPMJpmorgan Chase & Co-0.1%-10.09%Trim
26MLIMueller Industries INC-0.1%-8.85%Trim
27AMZNAmazon.com INC-0.1%-2.94%Trim
28KGCKinross Gold CORP-0.2%-32.79%Trim
29GOOGAlphabet Inc-cl C-0.2%-8.33%Trim
30HRIHerc Holdings INC-0.2%-0.55%Trim
31SONYSony Group CORP - Sp Adr-0.2%-2.28%Trim
32MAMastercard INC - A-0.2%-1.93%Trim
33KKRKkr & Co INC-0.3%-0.67%Trim
34AXPAmerican Express Co-0.3%-7.04%Trim
35MSFTMicrosoft CORP-0.5%-6.29%Trim
36FYBRFrontier Communications Pare—EXITSold out
37CDTXCidara Therapeutics INC—EXITSold out
38DAYDayforce INC—EXITSold out
398QRConfluent Inc-class A—EXITSold out
40EXKExact Sciences CORP—EXITSold out
41VSNTVersant Media Group INC—NEWNew buy
42RNAGBPAvidity Biosciences INC—EXITSold out
43TGNATegna INC—EXITSold out
44ACLXGBXArcellx INC—NEWNew buy
45PENPenumbra INC—NEWNew buy
46GOLSGbeli Op In Liv And Sprt ETF—NEWNew buy
47430Terns Pharmaceuticals INC—NEWNew buy
48✓ Cyberark Software LTD—EXITSold out
49APLSUSDApellis Pharmaceuticals INC—NEWNew buy
50K4FOnestream INC—NEWNew buy

FAQ

What is Gabelli Funds LLC and what type of investor is it?
Gabelli Funds LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $14.8B, spread across 1264 disclosed positions.
What are Gabelli Funds LLC's largest equity positions?
Based on the latest 13F filing, Gabelli Funds LLC's top holdings by market value are: 1. Newmont CORP (NEM) — $238.8M (1.6%) 2. Nvidia CORP (NVDA) — $223.5M (1.5%) 3. National Fuel Gas Co (NFG) — $219.1M (1.5%) 4. Ametek INC (AME) — $199.1M (1.3%) 5. Microsoft CORP (MSFT) — $183.0M (1.2%)
What changes did Gabelli Funds LLC make in its most recent portfolio filing?
In the latest reported quarter, Gabelli Funds LLC made 50 notable position adjustments: 7 new positions were initiated, 11 existing holdings were added to, 24 positions were partially reduced, and 8 were completely exited. The largest of these moves: Sold out: Frontier Communications Pare (FYBR); Sold out: Cidara Therapeutics INC (CDTX); Sold out: Dayforce INC (DAY); Sold out: Confluent Inc-class A (8QR); Sold out: Exact Sciences CORP (EXK)
What sectors does Gabelli Funds LLC focus on?
Gabelli Funds LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Industrials: 22.6% • Utilities: 12.1% • Financials: 11.9% • Information Technology: 10.2% • Energy: 9.7% • Communication Services: 9.4%

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