Ensemble Capital Management, an investment management company, released its 2022 annual investor letter. A copy of the same can be downloaded here. For the fiscal year ended October 31, 2022, the fund returned -29.33% compared to a total return of -14.61% for the benchmark S&P 500 Index for the same period. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Ensemble Capital highlighted stocks like Netflix, Inc. (NASDAQ:NFLX) in its 2022 annual investor letter. Headquartered in Los Gatos, California, Netflix, Inc. (NASDAQ:NFLX) is a streaming platform. On January 13, 2023, Netflix, Inc. (NASDAQ:NFLX) stock closed at $332.82 per share. One-month return of Netflix, Inc. (NASDAQ:NFLX) was 14.49%, and its shares lost 36.69% of their value over the last 52 weeks. Netflix, Inc. (NASDAQ:NFLX) has a market capitalization of $148.112 billion.
Ensemble Capital made the following comment about Netflix, Inc. (NASDAQ:NFLX) in its 2022 annual investor letter:
“Netflix, Inc. (NASDAQ:NFLX) (6.96%* weight in the Fund): Netflix declined 57.72% during the Fund’s fiscal year, contributing -5.42% to the Fund’s relative After reporting strong growth in new subscribers for the fourth quarter of 2021, the company lost 0.9% of their subscribers during the first two quarters of 2022. While investors have worried that these subscriber losses are due to competition, we believe the company’s sudden stall in growth is due primarily to surging inflation and weak economic conditions around the globe. In October, the company announced that subscriber growth had returned and guided to an expected acceleration of subscriber growth for the 4th calendar quarter of 2022.”
Netflix, Inc. (NASDAQ:NFLX) is in 19th position on our 30 Most Popular Stocks Among Hedge Funds list. As per our database, 115 hedge fund portfolios held Netflix, Inc. (NASDAQ:NFLX) at the end of the third quarter, which was 95 in the previous quarter.
We discussed Netflix, Inc. (NASDAQ:NFLX) in another article and shared the stocks gaining value on analysts’ upgrades. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.