Loomis Sayles Global Growth Fund Trails in Q4 as Letter Reaffirms Netflix Thesis and Adds Nike, Ferrari

Overview

• The fund reported a Q4 2025 return of -3.05% versus a 3.29% gain for the MSCI ACWI Index Net, according to its investor letter.
• Loomis Sayles reiterated conviction in Netflix based on more than 300 million paid subscribers, nearly 60% of revenue generated outside North America, and extensive proprietary content.
• The letter underscored Netflix’s accumulated content spend of over $120 billion, roughly 14,000 hours of originals, and strong Emmy recognition as barriers to entry.
• MercadoLibre was flagged as a leading detractor after results topped expectations for GMV and revenue but missed on operating income and EPS due to elevated investments, which pressured shares post‑earnings.
• Portfolio moves included new positions in Nike and Ferrari, and Insider Monkey reported hedge‑fund and market snapshots such as 154 funds holding Netflix at Q3 2025 and Feb. 12, 2026 price data.