Mario Gabelli, manager of GAMCO investments tripled its stake in SWS and pulled out of Annies. GAMCO now has a 3.5% stake in SWS at 1.7 million shares. Gabelli sold the natural and organic food company Annies after holding a 9% stake in the company to the tune of 1.5 million, according to Insider Monkey.
Mario Gabelli founded GAMCO in 1976 and it currently has $50 billion funds under management. The fund specializes in small-cap stocks and although it has gone public, Gabelli has a 50% stake in the fund.
SWS is a financial services holding company which announced it might merge with Hilltop Holdings. A shareholder meeting is scheduled for November 21. Jerome L Simon’s Lonestar management also increased its stake, with 3.95 million shares and James Dondero’s Highland Capital Management has 3.16 million shares. The main reason Gabelli sold Annies is that it is being taken over by General Mills.
Gabelli’s fund beats the S&P 500 by an average of 2% annual, and its top gainers for the year have been DirecTV, which has returned 23.8% year to date and Ryman Hospitality, with a gain of 12.7%,