An equity mutual fund, Sound Shore, recently released its Q1 2019 Investor, in which it has reported 11.88% and 11.91% quarterly return for its Sound Shore Fund Investor Class (SSHFX) and Institutional Class (SSHVX), respectively. You can track down a copy of its letter here. Among its performance, the fund also posted short comments on several stocks in its equity portfolio, including Comcast Corporation (NASDAQ:CMCSA).
“Media giant Comcast is another change beneficiary that performed well for the period, advancing 17%. We restarted our Comcast investment during the volatile fourth quarter of 2018 when it was attractively priced below 14 times earnings with an 8% free cash flow yield.While fierce media competition and the potential for cord-cutting are well known threats to Comcast, these same trends also turn out to be opportunities if managed well. For example, our due diligence concluded that many “over the top” rivals, in fact, need Comcast’s broadband service to supply content to their own customers. Symbiotically, Comcast’s NBC and Universal studios are delivering entertainment programing beyond its own cable system via over the top platforms. Comcast’s first quarter gain was well ahead of both the market and it’s lagging communication peers. Driven by fourth quarter earnings that confirmed broadband and cable subscriber growth, significant free cash, and copious dividends and buybacks, we see further upside potential.”
Comcast Corporation is a Philadelphia-based, telecommunications conglomerate. Year-to-date, the company’s stock gained 25.54%, and on May 10th it had a closing price of $43.15. Its market cap is of $195.85 billion, and the stock is trading at P/E ratio of 16.35.
At the end of the fourth quarter, a total of 83 of the hedge funds tracked by Insider Monkey were long this stock, a change of -10% from one quarter earlier. By comparison, 97 hedge funds held shares or bullish call options in CMCSA a year ago. So, let’s find out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
More specifically, Eagle Capital Management was the largest shareholder of Comcast Corporation (NASDAQ:CMCSA), with a stake worth $1121.5 million reported as of the end of September. Trailing Eagle Capital Management was Citadel Investment Group, which amassed a stake valued at $448.8 million. First Pacific Advisors LLC, Two Sigma Advisors, and AQR Capital Management were also very fond of the stock, giving the stock large weights in their portfolios.
When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.
Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.
At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.
Do the math. According to Musk, this technology could be worth $250 trillion by 2040.
Put another way, that’s roughly equal to:
175 Teslas
107 Amazons
140 Metas
84 Googles
65 Microsofts
And 55 Nvidias
And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.
It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.
Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.
How could anything be worth that much?
The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.
And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.
What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.
In fact, Verge argues this company’s supercheap AI technology should concern rivals.
Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.
Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.
When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.
Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…
But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.
And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…
This prediction might not be bold at all:
A few years from now, you’ll wish you’d owned this stock.
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