明星基金经理的选择：2013年15大金股

康卡斯特

苏珊·肯普勒TIAA-CREF Growth & Income基金

股票代码：(CMCSA)

股票类型：派息股

    2005年，苏珊·肯普勒接管TIAA-CREF 30亿美元的Growth and Income基金。在此期间，她的策略没有过太多改变。她一直致力于投资利润和现金流呈现增长的优质公司。其所在基金过去十年的年化回报为7.7%，高于标普指数的6.4%。

    康卡斯特（Comcast）目前正在经历转型，提供了肯普勒看好的增长潜力。这家有线巨头2011年购入的有全国广播公司（NBCUniversal ）51%股权提供了新的收入来源。由于奥运会和政治竞选期间庞大的广告支出，以及全国广播公司的收视率得到改善，第三季度全国广播公司这部分收入同比增长了32%。康卡斯特将继续增持全国广播公司的股权，直到2017年达到100%持股。与此同时，它的有线业务（营收占比63%）已削减了基础设施支出，留出派息、回购和研发所需的60亿美元现金。“这块业务再也不是每个月就收收有线费了，”肯普勒表示。“他们拥有（有线和互联网）技术，这使其优于同业。”

    --R.D.

Comcast

Susan Kempler TIAA-CREF Growth & Income

Ticker: (CMCSA)

Small and large pick: Dividends

    Not much has changed in Susan Kempler's strategy since she took the helm of TIAA-CREF's $3 billion Growth and Income Fund (TIIRX) in 2005. She has always sought high-quality companies with rising earnings and cash flow, delivering 7.7% annualized returns over 10 years, vs. 6.4% for the S&P.

    Comcast is undergoing a transition that offers the growth Kempler likes. The cable giant's 51% stake in NBCUniversal, which it purchased in 2011, has brought a new source of revenue, which boomed 32% in the third quarter compared with the year-earlier quarter because of strong ad spending for the Olympics and political campaigns, and improving ratings for its once-moribund network lineup. Comcast will continue to up its stake until it owns 100% of NBCUniversal in 2017. Meanwhile its cable business, which accounts for 63% of revenue, has pared infrastructure spending, leaving cash for $6 billion worth of dividends, buybacks, and R&D. "The business isn't just collecting monthly cable bills anymore," says Kempler. "They're powered by [cable and Internet] technology that makes it better than its peers."

    --R.D.