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NFLX

NETFLIX INC

5 managers · $4.0B total
Data: SEC EDGAR 13F · 2026Q1
Manager holders · last 4 qtrs
5
2025Q2 – 2026Q1 · +3 QoQ
Total position
$4.0B
Combined value across tracked managers
Net move this quarter
↓ Trimming
Weighted by holders' share change
HolderQ actionValue% of port.Style
Baillie GiffordTrim-40.97%$2.1B2.14%Long-term growth / Global allocation
Harris (Oakmark)Add>+999%$948M1.26%Deep value / Contrarian long-term
SandsTrim-6.07%$905M3.55%High-conviction growth / Innovation-led
Greenlea LaneNew$27M7.8%Concentrated long-term value
SaberNew$4M2.94%Concentrated value
What managers say
2026-06-18Michael Mauboussin (Consilient Observer)NeutralOpportunities and Expectations: The Present Value of Growth Opportunities in ValuationDetail →
2026-05-06Aswath Damodaran (Musings on Markets)NeutralAn Ode to Restraint: Lessons from the Tim Cook LegacyDetail →
2026-03-31Oakmark FundsBullOakmark Fund: First Quarter 2026Detail →
2025-09-09Scottish Mortgage (Baillie Gifford)NeutralThe age of resilience: outperformers must first be survivorsDetail →
2023-06-30Oakmark FundsBearOakmark Fund: Second Calendar Quarter 2023Detail →
2022-12-31Oakmark FundsBullOakmark Fund: Fourth Quarter 2022Detail →
2022-06-30Oakmark FundsNeutralBill Nygren Market Commentary | 2Q22Detail →
2022-05-11azvalor Asset ManagementBearQuarterly letter 1Q2022Detail →
Earnings Calls
Q1 2026April 16, 2026
Summary Conclusion: This quarter's results met expectations, with the core growth drivers being the strong performance of the APAC region and the expansion of the advertising business.
Key Data: Paid members exceeded 325 million; advertising revenue target maintained at $3 billion; APAC became the strongest FX-neutral revenue growth region.
Business Progress: The World Baseball Classic achieved Japan's highest-ever viewership and drove the largest single-day registrations; advertiser count increased by over 70% year-over-year, with programmatic advertising accounting for more than half; launched a children's gaming app, Playground, with smooth expansion in podcast and sports live content; GenAI tools accelerated deployment through the Interpositive acquisition, enhancing creative efficiency.
Guidance & Outlook: The full-year revenue growth guidance of 12%-14% and operating profit margin of 31.5% remain unchanged, with advertising revenue targets unadjusted.
Risk/Highlight Signals: Management expressed strong confidence, emphasizing that the core business holds only a 7% market share, leaving ample room for growth; founder Reed Hastings will step down from the board, but the transition is smooth and has not raised negative concerns.
FinancialsFY2025 · Source: SEC EDGAR 10-K

5y revenue CAGR 11% · latest net margin 24.3% · FCF volatile

Revenue$45.2B
Rev. YoY+15.9%
Gross margin48.5%
Net margin24.3%
Net income$11.0B
Free cash flow$9.46B
Operating cash flow$10.1B
ROE41.3%

Source: SEC EDGAR company filings (10-K). Foreign issuers (20-F/IFRS) not yet covered.