Gabelli Asset Management’s future remains hazy, supporting its Below Average Parent rating.
On March 23, 2026, Gabelli Asset Management announced that its founder, Mario Gabelli, was hospitalized. Gabelli, 84, founded the firm in 1977 and has remained a key figure, both as its CEO and as an important investor. Before his hospitalization, Gabelli was a listed portfolio manager on more than 15 of the firm’s funds, five of which he was the sole listed manager on. His presence has always been deeply felt as an influential leader and as an accomplished investor with a loyal following—he helped fuel growth at the firm to roughly USD 35 billion in assets under management as of March 2026.
Co-CEO Doug Jamieson and President and Co-CIO Chris Marangi have been running the day-to-day operations of the business during his absence but also to some degree before that. While most of the firm’s AUM remains in its legacy open-end mutual funds and closed-end funds, Gabelli has seen some growth in its exchange-traded funds. The firm launched Gabelli Opportunities in Live and Sports ETF GOLS in late 2025, which brought the total number of ETFs to eight, most of which play various themes—a staple at Gabelli even among its legacy funds.
Various members of the investment team have been managing Gabelli’s portfolios where the founder was the sole manager. The firm’s fairly deep investment team of more than 60 analysts and portfolio managers keeps it adequately staffed to absorb Gabelli’s workload, in addition to their own assignments. The firm has a distinct and disciplined investment philosophy, so widespread changes to Gabelli’s portfolios are not expected, but there will be some tweaks around the edges, and this situation could provide a look into the future of the firm without Gabelli at the helm.
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