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Equity Research Database
Institutional Investment Pitches
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Netflix’s share price declined 3% during the third quarter and 11% year-to-date from our average cost. The decline has...
— William A. Ackman
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Other investors who've written on Netflix, Inc.
Netflix is the preeminent global subscription streaming entertainment provider, offering a vast catalog of original and licensed film, television, and gaming content to hundreds of millions of paying members worldwide. The fund initiated...
Netflix, Inc. ($NFLX) is cited as a foundational case study of equity-driven credit research and represents 0.0% of the fund's current portfolio.
Netflix represents an attractive opportunity as it transitions to flatter expenses and improved monetization through paid sharing and advertising. The market underappreciates...
More institutional theses from Pershing Square Holdings
QSR's share price declined 1% during the third quarter but remains up 7% year-to-date, as we believe investors are beginning to better appreciate the durability of its growth. While peers have...
ICE’s share price rose 2% from our average cost in the third quarter as record volumes on ICE’s futures and options exchanges and accelerating growth in its data businesses have been somewhat offset by concerns around the sustainability of recent Exchanges volumes, the perceived threat of perpetual futures, and the impact of higher rates on Mortgage Technology. We remain confident...
Meta’s share price increased 29% during the third quarter and 10% year-to-date. Its core advertising...