GAMCO started out as the Gabelli Asset Management Company and was created by Mario Gabelli. It was in 2005 that the business adopted its current brand name to reflect its major offering which is its asset management business. As of, the company has over $46.9 billion in assets under management (AUM). Its investment team is comprised of 15 portfolio managers.
The creation of GAMCO was mainly because of the need to have an institution that would provide discretionary investment services to a variety of investors. It sought to apply an analytical approach in managing of client portfolios thereby creating long term capital appreciation. Through the Gabelli Family of Funds, the company is able to extend its services to private investors and individuals. The majority of its client base is comprised of profit sharing plans and corporate pensions. Before GAMCO makes any investments, they undergo a rigid in-house research, which would somehow allow its investors to paint a better picture of where and how their investments would shape up. Through its subsidiaries, the company invests in fixed income markets and public equities around the world. Its portfolio is created through their bottom-up stock picking approach.
It was in 1999 that the company made its initial public offering on the New York Stock Exchange. With the business going public, Bill Gates’ company, the Cascade, LLC now owns about 1.3% of the company’s stocks. It continues to trade on the exchange under the symbol GBL. The company holds its headquarters in Rye, New York.