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Loomis Sayles Global Growth Fund points to Netflix’s monetization push
In Q2 2026, the fund returned 6.4% versus the MSCI ACWI’s 14.9%, and cited Netflix as a performance drag during the quarter.
Loomis Sayles Global Growth Fund, part of Loomis Sayles, outlined its Q2 2026 view in an investor letter highlighted by Yahoo Finance. The fund returned 6.43% for the quarter, trailing the MSCI ACWI Index’s 14.93% performance.
The letter described the fund’s long term private equity style, focusing on high quality businesses with competitive advantages and investing at discounts to intrinsic value. At quarter end, it kept an overweight in communication services, consumer discretionary, and healthcare, while maintaining underweights in information technology, financials, industrials, and consumer staples.
Netflix, Inc. is named as one of the letter’s focus companies. The report said Netflix detracted from the fund’s performance during the quarter, and provided recent market context including a close at $79.59 on August 21, 2026, a one month return of 13.05%, and a 52 week loss of 34.66%.
Yahoo Finance also noted the letter’s discussion of Netflix’s scale and subscriber base, including 325 million paid subscribers and that the company generates almost 60% of revenue outside North America. The letter characterizes Netflix’s advantages as its scale, brand, and installed base, alongside barriers to entry tied to its subscription video on demand model.