Which mutual funds are buying into Hollywood's glamour? Okay, you may not see PMs hanging poolside at the Chateau Marmont, but you will find them in the pages of Variety
. Or maybe not.
Joseph Lisanti reports
on Morningstar's updated info in which mutual fund portfolios hold shares of major film studios' parent companies. Interestingly, Lisanti did not name any of the funds holding the stocks. Rather, he reported just the names of the stocks themselves. Oh well.
For those interested in what the PMs are buying, Comcast is the stock topping the Morningstar list.
But the investment researcher says 36 percent fewer funds own it than in the last Morningstar report, which could be due to profit sharing.
Disney's shares also rose about 22 percent, but 28.5 percent fewer funds own its stocks.
Time Warners saw a 34 percent drop in fund ownership and has reported flat first-quarter earnings.
Viacom ownership dropped about 30 percent, while Sony's shares lost 18 percent of owners.
The phone-hacking scandal has scared off mutual fund PMs from News Corp, but the split between its news and business units is expected to affect the ownership positively.
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