The Gabelli Dividend Growth Fund Q1 2025 Commentary

Gabelli Funds
31 Followers
(9min)

Summary

  • Our portfolio outperformed the S&P 500 in Q1 2025, up 1.53% versus the index's 4.3% decline, driven by value and defensive stocks.
  • Tariff uncertainty and decelerating AI spend pressured growth and technology stocks, benefiting financials, healthcare, utilities, and staples sectors.
  • Top contributors included Newmont, T-Mobile, and Mondelēz, while Amazon, Hewlett Packard Enterprise, and Alphabet detracted due to sector-specific headwinds.
  • We remain focused on competitively advantaged businesses at compelling valuations, with selective Mag7 exposure and active management amid market volatility.

A businessman holding a coin with a tree that grows and a tree that grows on a pile of money. The idea of maximizing the profit from the business investment.

arthon meekodong

INVESTMENT SCORECARD

The first quarter of 2025 was modestly positive for large cap value equities, even as the aggregate U.S. stock market began to sell off on concerns about tariffs and decelerating Al spend. Clearly, tariff levels announced on April 2nd

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