Sapient Capital reduced its Netflix (NFLX 1.40%)stake by selling 2,804 shares for an estimated $3.42 million in Q3 2025, according to an SEC filing dated October 17, 2025.
What Happened
Sapient Capital, a U.S. institutional investment manager, disclosed in its third-quarter Form 13F filing with the Securities and Exchange Commission dated October 17, 2025, that it sold 2,804 shares of Netflix. The estimated value of the shares sold was $3,422,407. Following the trade, the fund reported holding 83,661 shares.
What Else to Know
This reduction in Sapient Capital’s Netflix holding means the position now accounts for 1.55% of the fund’s 13F reportable assets under management.
Top holdings after the filing:
- LLY: $1.07 billion (16.5% of AUM as of September 30, 2025)
- APP: $906.45 million (14.0% of AUM as of September 30, 2025)
- AAPL: $346.81 million (5.3% of AUM as of September 30, 2025)
- MSFT: $313.49 million (4.8% of AUM as of September 30, 2025)
- GOOGL: $238.99 million (3.7% of AUM as of September 30, 2025)
As of October 17, 2025, Netflix shares were priced at $1,199.36, up 74.41% over the past year; shares have outperformed the S&P 500 by 56.79 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $41.46 billion |
| Net Income (TTM) | $10.25 billion |
| Price (as of market close 2025-10-17) | $1,199.36 |
| One-Year Price Change | 74.41% |
Company Snapshot
Netflix, Inc. is a global leader in entertainment streaming, operating at significant scale with over 220 million subscribers worldwide.
The company offers streaming TV series, documentaries, feature films, and mobile games across multiple genres and languages. It generates revenue primarily through paid subscription memberships, leveraging a global direct-to-consumer digital distribution model.
Netflix serves approximately 222 million paid members in 190 countries, targeting individual consumers and households seeking entertainment content.
Foolish Take
Sapient Capital's recent sale of roughly $3.4 million worth of Netflix shares likely isn't a game changer. Here's why.
Sapient Capital, an independent wealth advisory firm, trimmed its overall holdings of Netflix by about 2,800 shares. To put that in context, the company retains almost 84,000 shares. That means Sapient reduced its overall position in Netflix by about 3%. In other words, this transaction looks like profit-taking by this particular institution -- not a change in conviction.
At any rate, retail investors may want to take this opportunity to assess where Netflix stock is at right now. Shares have stalled recently, but nevertheless, have enjoyed a tremendous run this year. As of this writing on October 19, shares are up 35% year-to-date. By comparison, the S&P 500 is up about 14% year-to-date.
The company's fundamentals are the engine powering its impressive stock performance. For example, the company's revenue has grown from $31.6 billion in 2022 to $41.5 billion over the last 12 months -- a roughly 30% increase.
Looking ahead, Netflix is set to report earnings on the afternoon of October 21, representing one of the first major American stocks to report earnings results for the third quarter.
In summary, Sapient Capital's sale of Netflix stock looks like classic portfolio management. In addition, Netflix's strong fundamentals are the primary reason its stock has performed so well over the last year and beyond. Finally, the company is set to report third-quarter earnings results soon, which may lead to heightened volatility this week.
Glossary
13F reportable assets under management: The total value of securities a U.S. investment manager must disclose in quarterly SEC Form 13F filings.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Institutional investment manager: An organization, such as a mutual fund or hedge fund, that manages large investment portfolios for clients.
Form 13F: A quarterly report filed by institutional investment managers to disclose their U.S. equity holdings.
Stake: The ownership interest or position held in a company, typically measured by the number of shares owned.
Top holdings: The largest investments by value in a fund’s portfolio, often representing its highest conviction positions.
Outperforming the S&P 500: Achieving a higher return than the S&P 500 index over a specific period.
Direct-to-consumer digital distribution: Delivering products or services directly to customers via online platforms, bypassing traditional intermediaries.
Paid subscription memberships: Revenue model where customers pay recurring fees for ongoing access to a service or content.
TTM: The 12-month period ending with the most recent quarterly report.
