Polen Capital, an investment management company, released its “Polen Focus Growth Strategy” first quarter 2024 investor letter. A copy of the same can be downloaded here. The US stock market started 2024 optimistically. In the first quarter, the fund returned 8.29% (gross) and 8.09% (net) compared to 11.41% for the Russell 1000 Growth Index and 10.56% for the S&P 500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Polen Focus Growth Strategy featured stocks like Netflix, Inc. (NASDAQ:NFLX) in the first quarter 2024 investor letter. Headquartered in Los Gatos, California, Netflix, Inc. (NASDAQ:NFLX) is a streaming platform. On April 18, 2024, Netflix, Inc. (NASDAQ:NFLX) stock closed at $610.56 per share. One-month return of Netflix, Inc. (NASDAQ:NFLX) was -2.78%, and its shares gained 86.16% of their value over the last 52 weeks. Netflix, Inc. (NASDAQ:NFLX) has a market capitalization of $264.226 billion.
Polen Focus Growth Strategy stated the following regarding Netflix, Inc. (NASDAQ:NFLX) in its first quarter 2024 investor letter:
“The top absolute contributors were Amazon, Netflix, Inc. (NASDAQ:NFLX), and Microsoft. Netflix is seeing robust subscriber growth from new users and from converting previous password borrowers into paying subscribers. Netflix remains the largest streaming company in the world and the only profitable one we are aware of so far.”
Photo by Thibault Penin on Unsplash
Netflix, Inc. (NASDAQ:NFLX) is in 23rd position on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Netflix, Inc. (NASDAQ:NFLX) was held by 89 hedge fund portfolios, down from 102 in the previous quarter, according to our database.
We previously discussed Netflix, Inc. (NASDAQ:NFLX) in another article, where we shared Ensemble Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q1 2024 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.