Investors gloss over U's middling B.O.
Universal Pictures may not be winning the box office race, but shares of parent Comcast Corp. top the mutual fund charts. According to figures compiled by fund tracker Morningstar, 1,980 mutual funds hold shares in the cable, broadcast and film company.Walt Disney comes in second among parent companies of film majors with 1,605 portfolios owning DIS. Morningstar complied the figures by searching 6,983 domestic funds that reported owning U.S. stocks in 2011. Dead last is Sony. To be fair, Sony is usually considered an electronics company — only about 15% of revenues come from film and music. In addition, the Tokyo-based firm has faced a rising yen and the lingering effects of the earthquake and tsunami. Moreover, mutual funds tend to have a “home country” bias. Even so, only 84 U.S. funds out of close to 7,000 own the stock.