What did this article say?
Billionaire investor Mario Gabelli, through GAMCO Investors, maintains a significant and long-standing position in American Express (AXP). Despite a recent 18% decline in 2026, Gabelli's fund has held AXP for 33 years, generating substantial long-term returns. The firm's stake, valued at $156 million, represents 1.5% of its portfolio, with a slight reduction in shares held in the latest quarter.