Harding Loevner, an asset management company, released its “Global Equity Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy declined 5.6% gross of fees compared to a 6.7% decline for the MSCI All Country World Index. Strategy’s outperformance in the quarter was attributed to positive stock selection. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Harding Loevner highlighted stocks like Netflix, Inc. (NASDAQ:NFLX) in its third-quarter investor letter. Headquartered in Los Gatos, California, Netflix, Inc. (NASDAQ:NFLX) is an entertainment services company. On November 23, 2022, Netflix, Inc. (NASDAQ:NFLX) stock closed at $291.50 per share. One-month return of Netflix, Inc. (NASDAQ:NFLX) was -1.83%, and its shares lost 55.72% of their value over the last 52 weeks. Netflix, Inc. (NASDAQ:NFLX) has a market capitalization of $129.723 billion.
Harding Loevner made the following comment about Netflix, Inc. (NASDAQ:NFLX) in its Q3 2022 investor letter:
“Netflix, Inc. (NASDAQ:NFLX) mustered a modest recovery as the market Allocation Effect: 0.3 mulled the potential of its new lower-priced ad-supported subscription model to drive revenue growth and reduce its dependency on continued heavy investment in content to attract and retain viewers.”
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Netflix, Inc. (NASDAQ:NFLX) is in 19th position our list of 30 Most Popular Stocks Among Hedge Funds. 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 list of edge computing companies in the world. In addition, please check out our hedge fund investor letters Q3 2022 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.