Liberty Global plc – Class C Ordinary Shares (NASDAQ:LBTYK) was also among the consumer services companies that had bullish sentiment among the hedge funds we follow. At the end of the second quarter, 88 hedge funds held long positions in the stock, down from 90 at the end of the first quarter. The hedge funds had an aggregate investment value of $9.67 billion, down from $10.14 billion at the end of the first quarter of 2015. While these figures show a decline in both the number of hedge funds invested in the stock and the value of their investments, their positions still remain significant. During the second quarter, shares of Liberty Global plc – Class C Ordinary Shares (NASDAQ:LBTYK) were up by 1.65%, which is reflective of hedge fund sentiment. At the end of the second quarter, Eagle Capital Management, headed by Boykin Curry, was long in the stock with 30.16 million shares valued at $1.53 billion, while John H. Scully’s SPO Advisory Corp reduced its number of shares to 16.56 million valued at $838.63 million.
The struggling fast food chain McDonald’s Corporation (NYSE:MCD) also emerged as a stock that was popular among hedge funds during the second quarter. The number of hedge funds that were long in the stock at the end of the second quarter stood at 81, down from 89 three months earlier, with their total investments dropping to $6.28 billion from $6.83 billion. For the first time since 1970, the fast food company has projected a contraction in the number of U.S. stores it operates. McDonald’s Corporation (NYSE:MCD) is, however, putting up a fight to remain afloat in the highly competitive market and has already signed a franchise deal to expand its operations in Siberia. The company is lagging behind its competitors, most of which have included spicy foods in their menus, something that McDonald’s is only testing at the moment, in select stores under the name “Spicy McChicken” sandwich. Year-to-date, the stock’s share price has been up by 3.69%, but was down by 2.43% in the second quarter. Although Southeastern Asset Management, managed by Mason Hawkins, was the biggest shareholder out of the ones tracked by Insider Monkey, it reduced its stake in the stock during the second quarter by 10% to 9.87 million shares valued at $938.31 million.
Lastly, let’s look at Comcast Corporation (NASDAQ:CMCSA), the world’s largest cable company by revenue. Second quarter 13F filings we care about show that 76 hedge funds were long in the stock; down from 91 at the end of the first quarter. Of great importance is that the aggregate investment by these hedge funds increased during the quarter by 3.20% to $7.39 billion. Comcast, being in a challenging market threatened by “cord-cutters,” has been making numerous investments to diversify its revenue base. After investing $200 million in social news website BuzzFeed, Comcast Corporation (NASDAQ:CMCSA) also recently invested $200 million in Vox Media, the publisher of Eater, Re/code, and The Verge. The company is also set to launch its own online video service that’s expected to feature content from reputable media partners. At the end of the second quarter, Lansdowne Partners, headed by Paul Ruddock and Steve Heinz, held a 23.81 million-share position in the stock, with a market value of $1.43 billion. Jean-Marie Eveillard’s First Eagle Investment Management followed closely with 23.48 million shares valued at $1.43 billion.
Disclosure: None
