Value investor Mario Gabelli says Berkshire Hathaway's (BRK.A) second-quarter results should be better than the first quarter. Speaking at the annual meeting, the CEO of Gabelli Asset Management also said Warren Buffet should consider AutoNation (AN) as his next acquisition. Gabelli said in terms of his own investments, he still likes health and wellness plays, and water. Gabelli also said he recently started investing in the defense sector, and Honeywell (HON) is his largest holding in that space. He also likes United Technologies (UTX) , Lockheed Martin (LMT) and Northrop Grumman (NOC) .
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