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What smart money is saying about Roku, Inc.United States flag

ROKU · Communication Services · Entertainment · Market cap $16.06B

2 funds in our archive have pitched Roku, Inc. — most recently Saga Partners in December 2025.

Company profile

Roku, Inc., together with its subsidiaries, operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live TV, news sports, shows, and others. As of December 31, 2021, the company had 60.1 million active accounts. It also provides digital and video advertising, content distribution, subscription, and billing services, as well as other commerce transactions, and brand sponsorship and promotions; and manufactures, sells, and licenses smart TVs under the Roku TV name. In addition, the company offers streaming players, and audio products and accessories under the Roku brand name; and sells branded channel buttons on remote controls of streaming devices. It provides its products and services through retailers and distributors, as well as directly to customers through its website in the United States, Canada, the United Kingdom, France, Mexico, Brazil, Chile, Peru, North and South Americas, and Europe. Roku, Inc. was incorporated in 2002 and is headquartered in San Jose, California.

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2
Reported positions
0
Bought
0
Sold
4
Letters

Position history

Between Q2 2025 and Q2 2026, 2 fund letters reported a position in Roku, Inc., with no move described.

Fund letters reporting a position in Roku, Inc., by quarter
QuarterLettersBoughtSoldTheses
Q2 20262000
Q4 20250001
Q2 20250001

Fund activity · 2 positions

  • • Roku (+44%) delivered exceptional operational results, Q1 2026 revenue of $1.25 billion (+22%), platform revenue +28%, GAAP net income of $85.7 million reversing a prior-year loss, and adjusted EBITDA up 165% to $148 million, with a stated path to $1 billion of free cash flow by 2028, capped late in the Quarter by a $160 per share bid from Fox. We believe the bid undervalues the asset, continue to hold the shares and are evaluating our options.
    Roku, Inc.
  • HoldsRGA Investment Advisor Investment Portfolio
    June 2026
    One more position of note: Roku finds a new home (ROKU / FOXA) On June 15th, Roku announced that it would be acquired by Fox Corp (FOXA). We first bought shares in Roku in late 2018 and what a wild ride it has been.
    Roku, Inc.

Fund coverage · 2 theses

  • Saga Partners
    December 2025

    Roku is a leading connected TV operating system leveraging engagement, data, and ad inventory to capture the shift of TV viewing and advertising to streaming.

    Read the full thesis
  • RGA Investment Advisors
    June 2025

    Roku Inc. is positioned for growth with a solid installed base, improved advertising strategies, and a commitment to generating GAAP operating profit by 2026, despite market fears related to competition and external factors.

    Read the full thesis

Read every full thesis on Roku, Inc.

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