Harding Loevner, an asset management company, released its “Global Equity Strategy” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund returned 2.62% gross (2.52% net) in the third quarter of 2025, compared to a 7.74% return for the MSCI All Country World Index and 7.36% gain for the MSCI World Index. YTD, the strategy rose 10.61% (net) compared to 18.86% and 17.83% for the indexes. The firm highlighted in the letter that the last six months represented one of the strongest momentum phases in over 70 years. Since the beginning of the year, high-momentum stocks have outperformed low-momentum stocks by a remarkable 45 percentage points, with much of the growth driven by advancements in AI. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its third-quarter 2025 investor letter, Harding Loevner Global Equity Strategy highlighted stocks such as Netflix, Inc. (NASDAQ:NFLX). Incorporated in 1997, Netflix, Inc. (NASDAQ:NFLX) is an entertainment services provider. The one-month return of Netflix, Inc. (NASDAQ:NFLX) was -5.23%, and its shares gained 13.26% of their value over the last 52 weeks. On December 03, 2025, Netflix, Inc. (NASDAQ:NFLX) stock closed at $103.96 per share, with a market capitalization of $440.51 billion.
Harding Loevner Global Equity Strategy stated the following regarding Netflix, Inc. (NASDAQ:NFLX) in its third quarter 2025 investor letter:
“Along with Tradeweb, Netflix, Inc. (NASDAQ:NFLX) and The Trade Desk dragged down returns in the US. Netflix’s subscriber growth and other signs of strength in its latest earnings report weren’t enough to satisfy the market’s high expectations, and so the stock pared back some of the strong gains achieved earlier in the year. Netflix’s revenue also has been surprisingly resilient in the face of slower consumer spending, likely due to the low cost, high usage, and perceived value of its product, which can lend its stock a safe-haven-like quality. Therefore, easing macroeconomic concerns, including around tariffs, may have played a part in directing investors away from Netflix.”
Netflix, Inc. (NASDAQ:NFLX) is in 14th position on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 154 hedge fund portfolios held Netflix, Inc. (NASDAQ:NFLX) at the end of the third quarter, up from 133 in the previous quarter. While we acknowledge the potential of Netflix, Inc. (NASDAQ:NFLX) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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