Trian Partners Portfolio: Top 5 Stocks

3. Comcast Corporation (NASDAQ:CMCSA)

Trian Partners’ Stake Value: $1.2 billion
Percentage of Trian Partners’ 13F Portfolio: 13.86%
Number of Hedge Fund Holders: 84

Comcast Corporation (NASDAQ:CMCSA) is a multinational entertainment company based in Philadelphia that provides Cable TV, high-speed internet and home phone services to its customers. The telecommunications conglomerate has a market capitalization of $247.98 billion, and is ranked third on the list of the top 9 stocks in Trian Partners portfolio.

Nelson Peltz’s Trian Partners currently holds over 20.79 million shares of Comcast Corporation (NASDAQ:CMCSA), amounting to over $1.18 billion in worth and representing 13.86% of the fund’s portfolio. By the end of the second quarter of 2021, 84 hedge funds out of the 873 tracked by Insider Monkey held stakes in Comcast Corporation (NASDAQ:CMCSA) worth roughly $9.3 billion. This is compared to 88 hedge funds in the previous quarter with a total stake value of approximately $9.76 billion.

On September 29, Pivotal Research analyst Jeffrey Wlodarczak raised his price target on Comcast Corporation (NASDAQ:CMCSA) to $75 from $72 and kept a Buy rating on the shares.

In the Q2 2021 investor letter of ClearBridge Investments, the fund mentioned Comcast Corporation (NASDAQ:CMCSA). Here is what they said:

“We funded the shift primarily with trims in Comcast following big gains in this name. Comcast is a long-term holding that have been and remain core holdings. During the quarter, however, we took gains and resized the positions to reflect their current risk-reward post strong increases in the stocks.

Comcast, like Blackstone, has been a meaningful long-term holding whose stock performance has at times lagged its robust fundamental performance. Over the last nine months the stock price caught up some with the fundamentals and looked like it had more room to run. Our thesis on the name evolved, however, following the May 17 announcement that competitor Discovery was merging its operations with Time Warner. This deal positions the new company as a credible competitor to Netflix, Amazon Prime, Hulu and Disney, and results in Comcast being left without the proverbial dance partner in the evolving pay TV/DTC landscape. While we continue to believe Comcast’s cable systems business is well-positioned and that NBCUniversal remains valuable, the competitive dynamic for NBCUniversal has stiffened. Our reduced position size reflects both our continued enthusiasm for many parts of the franchise and emerging concerns given the evolving pay TV/DTC landscape.”