Gabelli Value Fund (GVCAX)
The Gabelli Value Fund (GVCAX) has a rather modest asset size of $713 million and tends to focus on large-cap names. Manager Mario Gabelli teams up with Chris Marangi on this mutual fund that seeks out classic undervalued firms that trade at a discount of what the managers calculate to be the true value of the stock.
GVCAX is up 25% YTD, but this is a long-term success story.
According to return numbers from Mr. Gabelli’s firm, a $10,000 investment in this fund back in 1989 grew to $120,328 through August of this year. A similar investment in the S&P 500 became $80,472 over the same period. GVCAX also has appreciated 8.5% annually over the past 10 years. This illustrates well how returns can compound over time to produce spectacular results.
GVCAX is heavy in consumer stocks, as well as industrials and communication companies. Current top holdings include Viacom (VIAB), CBS (CBS), Swedish Match (SWMAY), Honeywell International (HON) and Diageo (DEO).
Expenses for the fund are 1.42% annually, or $142 annually for every $10,000 invested, with turnover a mere 3% annually.