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Aristotle Atlantic Partners, an investment management firm, released its second quarter 2023 investor letter, a copy of which can be downloaded here. For the second quarter of 2023, Aristotle Atlantic’s Core Equity Composite posted a total return of 9.29 % gross of fees (9.18% net of fees), outperforming the S&P 500 Index, which recorded a total return of 8.74%. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.
In its Q2 2023 investor letter, Aristotle Atlantic Partners 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 streaming media company with a $189.2 billion market capitalization. Netflix, Inc. (NASDAQ:NFLX) delivered a 44.39% return since the beginning of the year, while its 12-month returns are up by 89.32%. The stock closed at $425.78 per share on July 28, 2023.
Here is what Aristotle Atlantic Partners has to say about Netflix, Inc. (NASDAQ:NFLX) in its Q2 2023 investor letter:
"Netflix is one of the leaders in streaming entertainment services that offers a broad selection of movies, TV series, documentaries and original content across numerous genres to its 223 million paid subscribers in over 190 countries. The company was initially founded as a DVD-by-mail service but has evolved into the world’s largest streaming-only platform and became one of the largest producers of original video content globally. Netflix offers a variety of subscription-only and adsupported memberships, and its focus on original content and investment in technology to improve the user experience have enabled it to maintain a significant competitive advantage over streaming peers.
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Our calculations show that Netflix, Inc. (NASDAQ:NFLX) ranks 17th on our list of the 30 Most Popular Stocks Among Hedge Funds. Netflix, Inc. (NASDAQ:NFLX) was in 108 hedge fund portfolios at the end of the second quarter of 2023, compared to 117 funds in the previous quarter. Netflix, Inc. (NASDAQ:NFLX) delivered a 29.05% return in the past 3 months.