Investment management company LVS Advisory, a New York City-based full-service investment firm, recently released its first-quarter 2023 investor letter. A copy of the same can be downloaded here. The defensive portfolio of the fund gained 0.6% (net of all fees and expenses) in the first quarter compared to the 4.2% gain for its benchmark the High-Yield Bond Index. On the other hand, its Growth Portfolio gained 8.1% in the quarter compared to 7.5% for its benchmark, S&P 500 Total Return Index. For more information on the fund’s top picks in 2023, please check its top five holdings.
LVS Advisory highlighted stocks like Netflix, Inc. (NASDAQ:NFLX) in the first quarter 2023 investor letter. Headquartered in Los Gatos, California, Netflix, Inc. (NASDAQ:NFLX) is a streaming platform. On April 13, 2023, Netflix, Inc. (NASDAQ:NFLX) stock closed at $346.19 per share. One-month return of Netflix, Inc. (NASDAQ:NFLX) was 14.07%, and its shares gained 1.48% of their value over the last 52 weeks. Netflix, Inc. (NASDAQ:NFLX) has a market capitalization of $154.175 billion.
LVS Advisory made the following comment about Netflix, Inc. (NASDAQ:NFLX) in its Q1 2023 investor letter:
“We initiated our investment in Netflix, Inc. (NASDAQ:NFLX) during the summer of 2022 (discussed in our Q3 2022 letter). Netflix was a baby thrown out with the bath water by the market last year. We found Netflix attractive because the company signaled that it would hold expenses flat while better monetizing its account base via an advertising tier and paid sharing. Despite an impeccable track record of execution, the market didn’t believe Netflix could navigate this transition. While the market now appears to buy into the expense story the market doesn’t fully appreciate the revenue growth story that will play out from the new monetization initiatives. Furthermore, the stock’s pullback during the banking crisis provided an attractive entry point for us to make Netflix an overweight position.”
Photo by Thibault Penin on Unsplash
Netflix, Inc. (NASDAQ:NFLX) is 19th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 117 hedge fund portfolios held Netflix, Inc. (NASDAQ:NFLX) at the end of the fourth quarter which was 115 in the previous quarter.
We discussed Netflix, Inc. (NASDAQ:NFLX) in another article and shared the list of best communication stocks to buy. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
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