Netflix (NFLX) Benefited From the Success of its New Ad Tier

Artisan Partners, an investment management company, released its “Artisan Developing World Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund (Investor Class) returned 1.91% compared to 0.90% for the MSCI Emerging Markets Index. The fund has returned 88.68% cumulatively since June 30, 2015, compared to a 23.33% return for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Artisan Developing World Fund highlighted stocks like Netflix, Inc. (NASDAQ:NFLX) in the second quarter 2023 investor letter. Headquartered in Los Gatos, California, Netflix, Inc. (NASDAQ:NFLX) is a streaming platform. On July 7, 2023, Netflix, Inc. (NASDAQ:NFLX) stock closed at $438.10 per share. One-month return of Netflix, Inc. (NASDAQ:NFLX) was 3.33%, and its shares gained 147.04% of their value over the last 52 weeks. Netflix, Inc. (NASDAQ:NFLX) has a market capitalization of $194.753 billion.

Artisan Developing World Fund made the following comment about Netflix, Inc. (NASDAQ:NFLX) in its second quarter 2023 investor letter:

“Top contributors to performance for the quarter included global streaming giant Netflix, Inc. (NASDAQ:NFLX). Netflix benefited from the success of the new ad tier that allows users to access the service at a lower price, and from the paid sharing initiative that allows multiple users to share an account for an additional fee.”

Netflix, Inc. (NASDAQ:NFLX) is in 12th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 108 hedge fund portfolios held Netflix, Inc. (NASDAQ:NFLX) at the end of first quarter which was 117 in the previous quarter.

We discussed Netflix, Inc. (NASDAQ:NFLX) in another article and shared Kim Kardashian’s stock portfolio. In addition, please check out our hedge fund investor letters Q2 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.