Geopolitical developments shaped the broader market environment over the period covered by this report. The United States conducted airstrikes against more than 80 targets inside Iran and revoked a waiver permitting Iranian crude oil sales, introducing volatility across global equity markets [Brief - 2026-07-27]. Strait of Hormuz tensions drove Brent crude above $85 per barrel and WTI above $80, a cumulative advance of approximately 12% following the collapse of US-Iran diplomatic negotiations [Brief - 2026-07-15]. Asian LNG spot prices surged 10% to $20.2/MMBtu, the highest level since March, as Hormuz transit concerns intensified [Brief - 2026-07-16]. Most recently, the United States intercepted an Iranian attack on American military bases overnight, further re-escalating tensions [Brief - 2026-07-29].
Netflix reported trailing twelve-month revenue of $48.37 billion as of 30 June 2026, representing year-over-year growth of 13.37% [SEC 10-Q - NFLX - 2026-06-30]. Net income for the same period stood at $13.65 billion, with a net margin of 28.22% and an operating margin of 29.68% [SEC 10-Q - NFLX - 2026-06-30]. Earnings per share grew 11.11% year-over-year, while the company carried $9.10 billion in cash against total debt of $14.31 billion [SEC 10-Q - NFLX - 2026-06-30]. The gross margin was recorded at 20.09%, and the market capitalisation stood at approximately $305.34 billion, with a price-to-earnings ratio of 23.06 [SEC 10-Q - NFLX - 2026-06-30].
Institutional ownership data for the most recent reporting period reflected divergent positioning across major filers. Citadel reduced its NFLX position by 27%, while Coatue reduced its holding by 37% [SEC 13F - Citadel - Q2 2026] [SEC 13F - Coatue - Q2 2026]. Conversely, Millennium added 33% to its position, ARK Invest increased its holding by 31%, and AQR Capital added 11% [SEC 13F - Millennium - Q2 2026] [SEC 13F - ARKInvest - Q2 2026] [SEC 13F - AQRCapital - Q2 2026]. No insider transaction data was available for inclusion in this report.
The prevailing macroeconomic rate environment showed the 10-year US Treasury yield at 4.75% and the 2-year yield at 4.28%, producing a normal yield curve with a spread of 47 basis points [FRED DGS10] [FRED DGS2]. This report was generated in the context of material institutional position changes across multiple significant filers in NFLX during the most recent 13F reporting period.