Time to Let Go of Long Positions in Comcast Corp (CMCSA)?

Cooper Investors, an investment management firm, published its ‘Cooper Investors Global Equities Fund (Hedged)’ fourth-quarter 2020 Investor Letter – a copy of which can be downloaded here. A return of 9.96% was recorded by the fund for the Q4 of 2020, below its MSCI ACWI benchmark that returned 12.24%. You can view the fund’s top 10 holdings to have a peek at their top bets for 2021.

Cooper Investors, in their Q4 2020 Investor Letter said that they sold their position in Comcast Corporation (NASDAQ: CMCSA) because of the uncertainties they saw in the company. Comcast Corporation is a telecommunications conglomerate that currently has a $237.5 billion market cap. For the past 3 months, CMCSA delivered a decent 21.20% return and settled at $48.42 per share at the closing of January 27th.

Here is what Cooper Investors has to say about Comcast Corporation in their investor letter:

“During the quarter the portfolio exited its position in Comcast, a long term holding having been in the portfolio since 2013. We were attracted to Comcast’s high quality cable assets which we view as unique communication infrastructure that continues to perform well as it serves the persistent demand for high speed broadband. However the outlook for their media and content assets in NBCU and Sky has become increasingly uncertain while remaining a key area of management focus and capital allocation. This clouded view on industry trends led us to seek more attractive investment propositions elsewhere.”

Last November 2020, we published an article telling that Comcast Corporation (NASDAQ: CMCSA) was in 82 hedge fund portfolios. Its all time high statistics is 105. CMCSA delivered an 18.24% return in the past 12 months.

Our calculations show that Comcast Corporation (NASDAQ: CMCSA) does not belong in our list of the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

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Disclosure: None. This article is originally published at Insider Monkey.