During the latest 13F filings for the 12/31/2023 reporting period, Netflix Inc (Symbol: NFLX) was found among the holdings of 11 out of the 23 most recent funds. When hedge fund managers seem to be moving in the same direction, it’s a signal worth investigating.
It’s important to remember that 13F filings don’t paint the full picture. These filings only disclose long positions, not short ones. So, a fund betting against a stock through shorting calls could still have a long position in the same stock, creating a misleading picture in the 13F filing.
Despite this limitation, studying groups of 13F filings can be illuminating, particularly when comparing one holding period to another. Let’s delve into the change in NFLX positions among the latest batch of 13F filers:
Out of the funds mentioned, 3 increased their NFLX positions from 09/30/2023 to 12/31/2023, while 5 decreased their positions, and 1 started a new position.
Looking beyond these specific funds, we calculated the aggregate NFLX share count held by all funds at the 12/31/2023 reporting period (out of the total 1,546 funds reviewed). We then compared this with the NFLX share count at the 09/30/2023 period, revealing an aggregate increase of 1,784,656 shares, marking a 21.76% rise from 8,203,388 to 9,988,044 shares for NFLX. The top three funds holding NFLX on 12/31/2023 were:
We’ll continue to monitor the latest 13F filings and bring you insightful stories derived from analyzing aggregate information across groups of managers between filing periods. While individual 13F filings can sometimes be misleading due to their long-only nature, analyzing the total sum across groups of funds from one reporting period to another can reveal more relevant and revealing insights, providing intriguing stock ideas that warrant further exploration, like Netflix Inc (Symbol: NFLX).
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