Has Amazon Surpassed Netflix As The Top Streaming Service?

Overall, 50 investment firms that we track had long positions in Netflix on June 30, with their holdings valued at $6.15 billion. The aforementioned Icahn was not one of them however, having closed his Netflix position in the second quarter that was previously worth over $588 million and declaring that Apple Inc. (NASDAQ:AAPL) was now the better investment. While hedge funds owned less of Amazon’s shares at 5.20%, owing partly to its massive size, there were far more elite firms invested in the stock on June 30, 103 in all, with them holding $10.63 billion in shares. Chase Coleman’s Tiger Global Management was the top shareholder of Netflix in our database with a 2.57 million-share position valued at over $1.68 billion. Billionaire Ken Fisher’s Fisher Asset Management likewise had the largest position in Amazon, of 2.49 million shares worth $1.08 billion.

Amazon and Netflix have both been able to rebound from the August market correction and have remained relatively stable amid the volatility since then, which has allowed each to maintain most of its monster gains this year. Amazon is up by over 66%, while Netflix is still up by an astounding 112%. However, while Netflix is still the dominant streaming service globally, in the U.S at least, it appears to have lost its crown.

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