Are Netflix’s Top Investors Willing to Ride the Long-Term Stock Rollercoaster?

Shares of Netflix (NASDAQ:NFLX) kicked off 2012 at a low point and are now returning over 45% to shareholders who bought NFLX stock at the start of the year. Last year, more than 1 million U.S. people cut their TV subscriptions, according to CNet. Even further, Blockbuster entered bankruptcy and added to the thesis that people are no longer going to retail stores to rent a movie. Convenience and offerings have been the key factors toward Netflix growth. However, competitors like DirecTV, Dish Network, AppleTV and even Amazon.com are chipping away at Netflix now. Today, it was learned Netflix is releasing an app for Windows Phone (NASDAQ:MSFT) internationally. Are Netflix’s top investors willing hold on for the long term?

235 institutional firms indicated owning shares of Netflix, Inc. (NASDAQ:NFLX) in both Q3 2011and Q4 2011. These firms reported owning a total of 40.099 million shares on 09/30/2011 and 40.673 million shares on 12/31/2011. The shares closed at $113.27 on 09/30/2011 and $69.29 on 12/31/2011, for an aggregate market value of $4.542 billion and $2.818 billion, respectively.

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Here are the ten largest positions in Netflix at the end of December 31st, 2011.

PRICE T ROWE ASSOCIATES INC /MD/ held 72,130 shares on 09/30/2011 which were worth $8,170,165. On 12/31/2011 the firm held 4,968,383 shares worth $344,259,258. This represented an increase of 4,896,253 shares or $336,089,093.

VANGUARD GROUP INC held 2,675,494 shares on 09/30/2011 which were worth $303,053,205. On 12/31/2011 the firm held 2,838,703 shares worth $196,693,731. This represented an increase of 163,209 shares or $106,359,475.

MORGAN STANLEY held 2,964,858 shares on 09/30/2011 which were worth $335,829,466. On 12/31/2011 the firm held 2,679,819 shares worth $185,684,659. This represented a reduction of 285,039 shares or $150,144,807.

BLUE RIDGE CAPITAL L.L.C. held 2,028,000 shares on 09/30/2011 which were worth $229,711,560. On 12/31/2011 the firm held 2,365,000 shares worth $163,870,850. This represented an increase of 337,000 shares or $65,840,710.

SANDS CAPITAL MANAGEMENT LLC held 2,052,448 shares on 09/30/2011 which were worth $232,480,785. On 12/31/2011 the firm held 2,080,269 shares worth $144,141,839. This represented an increase of 27,821 shares or $88,338,946.

STATE STREET CORP held 1,796,656 shares on 09/30/2011 which were worth $203,507,225. On 12/31/2011 the firm held 1,951,743 shares worth $135,236,272. This represented an increase of 155,087 shares or $68,270,953.

NEUBERGER BERMAN GROUP LLC held 50,339 shares on 09/30/2011 which were worth $5,701,899. On 12/31/2011 the firm held 1,461,660 shares worth $101,278,421. This represented an increase of 1,411,321 shares or $95,576,523.

BLACKROCK INSTITUTIONAL TRUST COMPANY N.A. held 1,504,292 shares on 09/30/2011 which were worth $170,391,155. On 12/31/2011 the firm held 1,445,843 shares worth $100,182,461. This represented a reduction of 58,449 shares or $70,208,693.

JANUS CAPITAL MANAGEMENT LLC held 2,015,350 shares on 09/30/2011 which were worth $228,278,695. On 12/31/2011 the firm held 1,442,219 shares worth $99,931,355. This represented a reduction of 573,131 shares or $128,347,340.

JPMORGAN CHASE & CO held 522,083 shares on 09/30/2011 which were worth $59,136,341. On 12/31/2011 the firm held 1,060,408 shares worth $73,475,670. This represented an increase of 538,325 shares or $14,339,329.

About the company: Netflix Inc. is an online movie rental service. The Company ships DVDs with no due dates or late fees, directly to the subscriber’s address. Netflix also provides background information on DVD releases, including critic reviews, member reviews and ratings, and personalized movie recommendations.

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