Mario Gabelli owns five Morningstar 5-star rated funds that examine each industry vertically.
He shared some of his stock picks with CNBC.
Gabelli Likes:
Hawk — Gabelli owns 15 percent of the company, which sells replacement parts for friction material. He predicts demand will pick up over the next three to four years.
"Will that stock double in the next five years? The answer is yes, and somebody will want to own it," he said.
Swedish Match — a smokefree tobacco company he has owned for seven years. (Traded in Stockholm. Click for share quote.)
National Fuel and Gas — the utilities company owns 600,000 acres of land ripe for natural gas.
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Disclosures:
Disclosure information was not available for Gabelli or his company.