Polen Capital, an investment management firm, published its “Polen Global Growth Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. During the first quarter of 2022, the Polen Global Growth Composite Portfolio (the “Portfolio) was down -13.30% and -13.54%, gross and net of fees, versus a decline of -5.35% for the MSCI ACWI (the “Index”). Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Polen Global Growth Fund mentioned Netflix, Inc. (NASDAQ:NFLX) and explained its insights for the company. Founded in 1997, Netflix, Inc. (NASDAQ:NFLX) is a Los Gatos, California-based subscription streaming service and production company with an $88.2 billion market capitalization. Netflix, Inc. (NASDAQ:NFLX) delivered a -67.03% return since the beginning of the year, while its 12-month returns are down by -59.12%. The stock closed at $198.61 per share on June 07, 2022.
Here is what Polen Global Growth Fund has to say about Netflix, Inc. (NASDAQ:NFLX) in its Q1 2022 investor letter:
“We have been following Netflix closely for many years. It is a dominant, globally scaled business enjoying – and in large part driving – the secular shift to streaming content. The two things that previously kept us on the sidelines were negative free cash flow (FCF) and valuation. Both have changed. FCF is now positive, and valuation is now at an attractive level. Streaming entertainment, which is on-demand, personalized, and available on any screen, is now often the preferred choice over linear TV. As such, Netflix, the leader in on-demand streaming, should continue enjoying margin expansion due to economies of scale. With respect to the “streaming wars,” we do believe content spend will be leveraged over time and that the industry will experience consolidation.”
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Our calculations show that Netflix, Inc. (NASDAQ:NFLX) ranks 13th on our list of the 30 Most Popular Stocks Among Hedge Funds. Netflix, Inc. (NASDAQ:NFLX) was in 109 hedge fund portfolios at the end of the first quarter of 2022, compared to 113 funds in the previous quarter. Netflix, Inc. (NASDAQ:NFLX) delivered a -44.64% return in the past 3 months.
In May 2022, we also shared another hedge fund’s views on Netflix, Inc. (NASDAQ:NFLX) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
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