Mario Gabelli's Game Plan To Profit From An Infrastructure Bill

President Donald Trump's proposed infrastructure spending plan is more likely than not to see the light of day, at least according to notable fund manager Mario Gabelli.

Speaking as a guest on CNBC's "Squawk Box" segment Friday, Gabelli said it is a no-brainer airports, roads, bridges, inland waterways and much more are in dire need of repair.

Invest In The Ecosystem, Not 'Obvious' Players

From an investor point of view, there is a way to profit from what needs to be done. And Gabelli has some interesting plays many investors haven't necessarily thought of. For example, one of Gabelli's favorite plays on infrastructure is the truck company Navistar International Corp NAV.

After all, the companies directly working on infrastructure products "need to move stuff," which also plays into Gabelli's narrative of investing across the "whole ecosystem" of infrastructure.

Other names across the ecosystem include construction equipment and truck maker CNH Industrial NV CNHI. Gabelli said this is a "fairly nice little company that you can participate in."

Moving even further down the ecosystem, investors can find opportunities in waste management companies like Republic Services, Inc. RSG and Waste Management, Inc. WM, both of which will play roles in recycling of cans and water waste and gathering data from construction sites.

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Jim Cramer's 2 Picks For Trump's Infrastructure Project

Infrastructure Pro Explains What Needs To Be Fixed And How To Pay For The Project