By: Manisha Sethi May. 08, 2018
Robust capital return policies, continuous growth in high-speed internet customers, and a diversified business portfolio have made Comcast’s attractive to investors. However, the ongoing legal dispute with Tivo over patent infringement may cause concerns for large-scale institutional investors such as Dodge & Cox, Massachusetts Financial Services Co., and Capital World Investors. Further, the steadily declining number of video customers could dissuade them from investing.
|Stakeholder||Value of Comcast stockholding (in USD)||Comcast stock in portfolio (%)|
|TCI Fund Management Ltd.||2.84 billion||17.6|
|Veritas Asset Management LLP||1.38 billion||10.73|
|Brown Brothers Harriman & Co.||1.03 billion||5.66|
|ClearBridge Investments, LLC||3.65 billion||3.37|
|First Eagle Investment Management, LLC||1.27 billion||2.99|
|Dodge & Cox||3.74 billion||2.9|
|Massachusetts Financial Services Co.||5.14 billion||2.14|
Raltin.com evaluated the top 100 shareholders of Comcast and ranked them in order of percentage of Comcast shares in their overall portfolio. They also assessed 13F forms filed in Q4:2017 to identify those investors most likely to be affected, given their portfolio composition.
The top five institutional investors who increased their holdings in Comcast in Q4:2017 are Massachusetts Financial Services Co., Dodge & Cox, Citadel Advisors LLC, Natixis, and Mackenzie Financial Corporation. On the other hand, investors who slashed their stock positions during the same period are TCI Fund Management Ltd., Price T Rowe Associates INC., Bank of America Corporation, Wellington Management Group LLP, and Capital International Investors.
Among the top 100 holders, Mackenzie Financial Corporation, Natixis, and Citadel Advisors LLC reported the highest growth in sequential portfolio value during Q4:2017, which was driven by increased stakeholdings in Comcast.
The top five institutional holders who added Comcast shares to their portfolios in Q4:2017 are Barrow, Hanley, Mewhinney & Strauss, LLC, Highfields Capital Management LP, Scopus Asset Management, L.P., Owl Creek Asset Management, L.P., and JANA Partners LLC. On the other hand, investors who pulled out during the same period include BlackRock Inc.; Lone Pine Capital LLC; Egerton Capital (UK) LLP; Suvretta Capital Management, LLC; and Bessemer Group Inc.