The State Board of Administration of Florida Retirement System has loaded up on shares of streaming giant Netflix Inc. NFLX and cloud computing firm Snowflake Inc. SNOW in the third quarter, according to SEC filings.
What Happened: The retirement fund has bought over 3,300 shares of Netflix, taking the valuation of its holdings to over $117 million as of the third quarter's end. Interestingly, shares of Netflix have gained over 52% in the last six months. Netflix is exploring the idea of streaming live sports on its platform, according to a Wall Street Journal report.
See Also: Best Brokerage And Investment Apps
The report added that Netflix recently bid for the streaming rights for the ATP tennis tour for some European countries, but dropped out. The company also discussed bidding for a series of other events, which include U.K. rights to the Women’s Tennis Association and cycling competitions, the report said, citing sources.
The retirement fund also bought over 100,000 shares of Snowflake during the quarter, taking the value of its holdings to over $58 million, SEC filings show.
At the same time, it trimmed its holdings of Microsoft Corp. MSFT and NVIDIA Corporation NVDA in the quarter. The fund sold over 46,000 shares of Microsoft, taking the value of its holdings down to $1.934 billion in the period.
It offloaded over 14,000 shares of chipmaker NVIDIA Corporation NVDA, bringing its holdings down to above $327 million, SEC filings show.
Apple Inc. AAPL, Microsoft and Amazon.com, Inc. AMZN are among the fund’s top holdings, according to Whale Wisdom.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
