NETFLIX INC NFLX
COM · Common Stock · CUSIP 64110L106 · ISIN US64110L1061
American media company
- IndustryServices-Video Tape Rental
- HeadquartersLos Gatos, CA
- Founded1997
- Websiteir.netflix.net
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.3bn this quarter). Holder counts are more reliable. Shares outstanding: 425.7m as of 2025-03-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $932.08. Options: 81 managers hold calls ($14.3bn notional), 83 hold puts ($17.1bn).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 1,714 |
| Q4 2022 | 1,896 |
| Q1 2023 | 1,929 |
| Q2 2023 | 2,110 |
| Q3 2023 | 2,056 |
| Q4 2023 | 2,302 |
| Q1 2024 | 2,513 |
| Q2 2024 | 2,644 |
| Q3 2024 | 2,761 |
| Q4 2024 | 3,132 |
| Q1 2025 | 3,203 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 1,000 | 883 |
| Q3 2023 | 981 | 921 |
| Q4 2023 | 981 | 994 |
| Q1 2024 | 1,263 | 971 |
| Q2 2024 | 1,336 | 1,027 |
| Q3 2024 | 1,350 | 1,061 |
| Q4 2024 | 1,391 | 1,176 |
| Q1 2025 | 1,604 | 1,287 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $10.6bn | $13.8bn | 1.30 |
| Q3 2024 | $11.0bn | $16.3bn | 1.48 |
| Q4 2024 | $15.6bn | $22.1bn | 1.41 |
| Q1 2025 | $14.3bn | $17.1bn | 1.20 |
Biggest buyers
| BlackRock, Inc. | Added | +1.6m |
| FMR LLC | Added | +1.4m |
| VOYA INVESTMENT MANAGEMENT LLC | Added | +794.5k |
| JPMORGAN CHASE & CO | Added | +720.9k |
| BANK OF AMERICA CORP /DE/ | Added | +716.6k |
| Amundi | Added | +567.3k |
| VANGUARD GROUP INC | Added | +509.3k |
| AXIOM INVESTORS LLC /DE | Added | +487.4k |
| FRANKLIN RESOURCES INC | Added | +455.6k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +410.2k |
Biggest sellers
| Fisher Asset Management, LLC | Reduced | -2.5m |
| Capital International Investors | Reduced | -1.5m |
| POLEN CAPITAL MANAGEMENT LLC | Reduced | -839.8k |
| MACKENZIE FINANCIAL CORP | Reduced | -677.3k |
| EDGEWOOD MANAGEMENT LLC | Reduced | -565.4k |
| GQG Partners LLC | Reduced | -517.4k |
| Capital Research Global Investors | Reduced | -441.9k |
| BAILLIE GIFFORD & CO | Reduced | -441.1k |
| D. E. Shaw & Co., Inc. | Reduced | -416.7k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -407.5k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.4bn3.6m shares |
| CITADEL ADVISORS LLC | Reduced | $2.3bn2.4m shares |
| IMC-Chicago, LLC | Reduced | $1.4bn1.5m shares |
| JANE STREET GROUP, LLC | Added | $1.2bn1.3m shares |
| WOLVERINE TRADING, LLC | Added | $866.2m927.6k shares |
| CTC LLC | Reduced | $582.2m624.3k shares |
| SIMPLEX TRADING, LLC | Reduced | $471.9m506.0k shares |
| GOLDMAN SACHS GROUP INC | Added | $463.6m497.1k shares |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Unchanged | $333.6m360.0k shares |
| UBS Group AG | Reduced | $307.4m329.6k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.9bn4.2m shares |
| CITADEL ADVISORS LLC | Reduced | $2.4bn2.6m shares |
| IMC-Chicago, LLC | Reduced | $1.6bn1.8m shares |
| JANE STREET GROUP, LLC | Reduced | $1.3bn1.3m shares |
| WOLVERINE TRADING, LLC | Added | $982.2m1.1m shares |
| CTC LLC | Reduced | $708.1m759.3k shares |
| CMT Capital Markets Trading GmbH | Added | $660.5m708.3k shares |
| SIMPLEX TRADING, LLC | Reduced | $649.1m696.1k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $468.4m502.3k shares |
| UBS Group AG | Reduced | $462.6m496.1k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 7.5% |
Fell to 5% or below in the last year: FMR LLC (3.3%, 2026-08-06), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q1 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2023 | 0 | — | 3 | $23.1m | $23.1m |
| Q3 2023 | 0 | — | 5 | $75.3m | $65.1m |
| Q4 2023 | 0 | — | 5 | $68.4m | $50.2m |
| Q1 2024 | 0 | — | 7 | $151.3m | $145.1m |
| Q2 2024 | 0 | — | 5 | $46.4m | $45.1m |
| Q3 2024 | 0 | — | 7 | $201.0m | $199.2m |
| Q4 2024 | 0 | — | 9 | $129.5m | $127.0m |
| Q1 2025 | 0 | — | 10 | $556.5m | $554.8m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-03-25 | Karbowski Jeffrey William Chief Accounting Officer | Sold plan | $469.5k480 shares |
| 2025-03-03 | HASTINGS REED Executive Chairman, director | Sold plan | $29.9m30.5k shares |
| 2025-03-03 | Neumann Spencer Adam Chief Financial Officer | Sold plan | $2.6m2.6k shares |
| 2025-02-26 | Karbowski Jeffrey William Chief Accounting Officer | Sold plan | $160.0k160 shares |
| 2025-02-25 | Karbowski Jeffrey William Chief Accounting Officer | Sold plan | $475.0k480 shares |
| 2025-02-13 | Peters Gregory K Co-CEO, director | Sold plan | $4.7m4.6k shares |
| 2025-02-10 | Peters Gregory K Co-CEO, director | Sold plan | $5.1m4.9k shares |
| 2025-02-07 | Peters Gregory K Co-CEO, director | Sold plan | $10.4m10.2k shares |
| 2025-02-06 | Peters Gregory K Co-CEO, director | Sold plan | $4.5m4.4k shares |
| 2025-02-06 | Masiyiwa Strive Director | Sold plan | $2.8m2.8k shares |
| 2025-02-06 | Neumann Spencer Adam Chief Financial Officer | Sold | $691.6k685 shares |
| 2025-02-05 | HYMAN DAVID A Chief Legal Officer | Sold plan | $62.6m63.2k shares |
| 2025-02-05 | Peters Gregory K Co-CEO, director | Sold plan | $3.8m3.8k shares |
| 2025-02-04 | Peters Gregory K Co-CEO, director | Sold plan | $10.0m10.0k shares |
| 2025-02-04 | HYMAN DAVID A Chief Legal Officer | Sold | $421.7k424 shares |
| 2025-02-04 | Karbowski Jeffrey William Chief Accounting Officer | Sold plan | $160.0k160 shares |
| 2025-02-03 | HASTINGS REED Executive Chairman, director | Sold plan | $31.4m32.1k shares |
| 2025-02-03 | MATHER ANN Director | Sold plan | $2.6m2.7k shares |
| 2025-01-30 | SARANDOS THEODORE A Co-CEO, director | Sold plan | $194.9m199.1k shares |
| 2025-01-30 | Peters Gregory K Co-CEO, director | Sold plan | $100.3m102.2k shares |
| 2025-01-30 | HYMAN DAVID A Chief Legal Officer | Sold plan | $40.3m41.1k shares |
| 2025-01-30 | Neumann Spencer Adam Chief Financial Officer | Sold plan | $9.8m10.0k shares |
| 2025-01-30 | Karbowski Jeffrey William Chief Accounting Officer | Sold plan | $473.6k480 shares |
| 2025-01-23 | Hoag Jay C Director | Sold | $604.5k617 shares |
| 2025-01-07 | BARTON RICHARD N Director | Sold plan | $5.6m6.4k shares |
| 2025-01-02 | HASTINGS REED Executive Chairman, director | Sold plan | $31.9m35.9k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.64% of their portfolio | 38.0m $35.4bn | Added +509.3k |
| BlackRock, Inc. 0.66% of their portfolio | 33.6m $31.3bn | Added +1.6m |
| FMR LLC 1.33% of their portfolio | 22.3m $20.8bn | Added +1.4m |
| STATE STREET CORP 0.66% of their portfolio | 17.1m $15.9bn | Reduced -110.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 1.35% of their portfolio | 11.7m $10.9bn | Added +304.4k |
| Capital World Investors 1.74% of their portfolio | 11.5m $10.7bn | Reduced -262.9k |
| JPMORGAN CHASE & CO 0.70% of their portfolio | 9.9m $9.2bn | Added +720.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.71% of their portfolio | 9.7m $9.0bn | Added +373.6k |
| MORGAN STANLEY 0.57% of their portfolio | 8.6m $8.0bn | Added +147.4k |
| JENNISON ASSOCIATES LLC 4.27% of their portfolio | 6.5m $6.1bn | Reduced -86.0k |
| NORGES BANK 0.74% of their portfolio | 5.6m $5.2bn | Reduced -14.3k |
| BANK OF AMERICA CORP /DE/ 0.46% of their portfolio | 5.5m $5.1bn | Added +716.6k |
| ALLIANCEBERNSTEIN L.P. 1.75% of their portfolio | 5.2m $4.8bn | Added +53.6k |
| Invesco Ltd. 0.82% of their portfolio | 4.7m $4.4bn | Added +356.6k |
| Capital Research Global Investors 0.92% of their portfolio | 4.5m $4.2bn | Reduced -441.9k |
| NORTHERN TRUST CORP 0.63% of their portfolio | 4.5m $4.2bn | Reduced -49.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.79% of their portfolio | 4.4m $4.1bn | Added +148.7k |
| BAILLIE GIFFORD & CO 3.28% of their portfolio | 4.0m $3.8bn | Reduced -441.1k |
| LOOMIS SAYLES & CO L P 5.15% of their portfolio | 3.8m $3.6bn | Reduced -213.2k |
| Capital International Investors 0.61% of their portfolio | 3.3m $3.1bn | Reduced -1.5m |
| Bank of New York Mellon Corp 0.57% of their portfolio | 3.1m $2.9bn | Reduced -19.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.72% of their portfolio | 3.0m $2.8bn | Added +298.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.49% of their portfolio | 2.8m $2.6bn | Added +128.3k |
| GOLDMAN SACHS GROUP INC 0.49% of their portfolio | 2.7m $2.6bn | Added +55.9k |
| Legal & General Group Plc 0.67% of their portfolio | 2.6m $2.5bn | Added +47.2k |
| Nuveen, LLC 0.72% of their portfolio | 2.6m $2.4bn | First filing |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 1.88% of their portfolio | 2.5m $2.3bn | Added +182.2k |
| BANK OF MONTREAL /CAN/ 1.22% of their portfolio | 2.5m $2.3bn | Reduced -351.8k |
| ROYAL BANK OF CANADA 0.48% of their portfolio | 2.3m $2.2bn | Reduced -33.8k |
| EDGEWOOD MANAGEMENT LLC 7.28% of their portfolio | 2.2m $2.1bn | Reduced -565.4k |
| Amundi 0.69% of their portfolio | 2.1m $1.9bn | Added +567.3k |
| Fisher Asset Management, LLC 0.83% of their portfolio | 2.1m $1.9bn | Reduced -2.5m |
| SRS Investment Management, LLC 25.44% of their portfolio | 2.0m $1.9bn | Unchanged |
| FRANKLIN RESOURCES INC 0.52% of their portfolio | 1.9m $1.8bn | Added +455.6k |
| Clearbridge Investments, LLC 1.38% of their portfolio | 1.7m $1.6bn | Reduced -202.3k |
| UBS Group AG 0.33% of their portfolio | 1.6m $1.5bn | Added +71.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.78% of their portfolio | 1.5m $1.4bn | Reduced -107.8k |
| BARCLAYS PLC 0.62% of their portfolio | 1.5m $1.4bn | Reduced -17.7k |
| SANDS CAPITAL MANAGEMENT, LLC 4.66% of their portfolio | 1.5m $1.4bn | Reduced -14.7k |
| DEUTSCHE BANK AG\ 0.54% of their portfolio | 1.5m $1.4bn | Added +151.0k |
| VOYA INVESTMENT MANAGEMENT LLC 0.75% of their portfolio | 1.5m $1.4bn | Added +794.5k |
| GQG Partners LLC 2.06% of their portfolio | 1.4m $1.3bn | Reduced -517.4k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.43% of their portfolio | 1.4m $1.3bn | Added +410.2k |
| AXIOM INVESTORS LLC /DE 6.19% of their portfolio | 1.4m $1.3bn | Added +487.4k |
| AMERICAN CENTURY COMPANIES INC 0.79% of their portfolio | 1.4m $1.3bn | Added +73.3k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 1.28% of their portfolio | 1.4m $1.3bn | Reduced -137.9k |
| WELLS FARGO & COMPANY/MN 0.31% of their portfolio | 1.4m $1.3bn | Added +78.4k |
| JANUS HENDERSON GROUP PLC 0.70% of their portfolio | 1.4m $1.3bn | Reduced -18.1k |
| Artisan Partners Limited Partnership 1.94% of their portfolio | 1.3m $1.2bn | Reduced -6.9k |
| Swiss National Bank 0.79% of their portfolio | 1.2m $1.1bn | Reduced -6.8k |
| Sumitomo Mitsui Trust Group, Inc. 0.79% of their portfolio | 1.2m $1.1bn | Added +20.2k |
| HSBC HOLDINGS PLC 0.64% of their portfolio | 1.0m $965.0m | Reduced -61.7k |
| AMERIPRISE FINANCIAL INC 0.26% of their portfolio | 1.0m $964.7m | Reduced -88.1k |
| DIMENSIONAL FUND ADVISORS LP 0.24% of their portfolio | 1.0m $954.5m | Added +35.7k |
| RAYMOND JAMES FINANCIAL INC 0.32% of their portfolio | 918.0k $856.1m | Reduced -34.3k |
| POLEN CAPITAL MANAGEMENT LLC 2.60% of their portfolio | 888.1k $828.2m | Reduced -839.8k |
| CITIGROUP INC 0.63% of their portfolio | 884.1k $824.5m | Added +326.1k |
| NORDEA INVESTMENT MANAGEMENT AB 0.84% of their portfolio | 876.6k $797.3m | Added +28.5k |
| National Pension Service 0.78% of their portfolio | 869.2k $810.6m | Added +19.4k |
| Alphinity Investment Management Pty Ltd 5.32% of their portfolio | 842.5k $785.7m | Reduced -224.0k |
| BNP PARIBAS FINANCIAL MARKETS 0.57% of their portfolio | 805.5k $751.1m | First filing |
| CANADA PENSION PLAN INVESTMENT BOARD 0.73% of their portfolio | 804.9k $750.6m | Reduced -76.8k |
| RHUMBLINE ADVISERS 0.70% of their portfolio | 802.8k $748.7m | Reduced -2.0k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.69% of their portfolio | 800.4k $746.4m | Added +85.8k |
| FIRST TRUST ADVISORS LP 0.63% of their portfolio | 763.2k $711.7m | Added +11.8k |
| VIKING GLOBAL INVESTORS LP 2.22% of their portfolio | 749.4k $698.9m | Added +247.1k |
| California Public Employees Retirement System 0.48% of their portfolio | 732.2k $682.8m | Reduced -4.4k |
| LPL Financial LLC 0.25% of their portfolio | 679.7k $633.0m | Added +82.9k |
| SEI INVESTMENTS CO 0.81% of their portfolio | 678.2k $632.4m | Added +37.0k |
| Newlands Management Operations LLC 4.24% of their portfolio | 670.7k $625.5m | Unchanged |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.77% of their portfolio | 669.4k $624.2m | Reduced -5.1k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.72% of their portfolio | 663.1k $618.4m | Reduced -17.3k |
| Robeco Institutional Asset Management B.V. 1.17% of their portfolio | 644.4k $601.0m | Added +23.8k |
| ProShare Advisors LLC 1.31% of their portfolio | 624.5k $582.4m | Added +75.3k |
| COATUE MANAGEMENT LLC 2.54% of their portfolio | 618.7k $577.0m | Reduced -76.8k |
| Bank Julius Baer & Co. Ltd, Zurich 1.83% of their portfolio | 605.2k $564.4m | Added +48.9k |
| ENVESTNET ASSET MANAGEMENT INC 0.18% of their portfolio | 601.5k $560.9m | Reduced -50.5k |
| Jericho Capital Asset Management L.P. 9.82% of their portfolio | 579.0k $539.9m | Reduced -240.0k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.79% of their portfolio | 577.5k $538.6m | Added +2.1k |
| TD Asset Management Inc 0.49% of their portfolio | 576.0k $537.1m | Added +642 |
| LOS ANGELES CAPITAL MANAGEMENT LLC 2.37% of their portfolio | 573.9k $535.2m | Reduced -9.4k |
| CANADA LIFE ASSURANCE Co 0.94% of their portfolio | 569.8k $532.3m | Added +1.6k |
| Pictet Asset Management Holding SA 0.59% of their portfolio | 566.5k $528.3m | Reduced -28.1k |
| Winslow Capital Management, LLC 2.09% of their portfolio | 561.2k $523.3m | Added +147.9k |
| GARDNER RUSSO & QUINN LLC 5.84% of their portfolio | 558.4k $520.7m | Reduced -74.4k |
| NATIXIS ADVISORS, LLC 0.96% of their portfolio | 558.0k $520.4m | Added +5.6k |
| Daiwa Securities Group Inc. 2.05% of their portfolio | 520.9k $485.8m | Added +108.7k |
| VICTORY CAPITAL MANAGEMENT INC 0.49% of their portfolio | 518.0k $483.1m | Added +253 |
| ACADIAN ASSET MANAGEMENT LLC 1.34% of their portfolio | 507.1k $472.8m | Added +338.5k |
| NEUBERGER BERMAN GROUP LLC 0.39% of their portfolio | 504.6k $470.6m | Added +19.7k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 1.00% of their portfolio | 502.3k $468.5m | Added +2.9k |
| FRED ALGER MANAGEMENT, LLC 2.57% of their portfolio | 484.4k $451.7m | Added +26.8k |
| STIFEL FINANCIAL CORP 0.48% of their portfolio | 482.8k $450.2m | Added +517 |
| Assenagon Asset Management S.A. 0.80% of their portfolio | 481.8k $449.3m | Reduced -225.9k |
| KBC Group NV 1.38% of their portfolio | 477.3k $445.1m | Added +78.1k |
| GILDER GAGNON HOWE & CO LLC 5.76% of their portfolio | 473.4k $441.5m | Reduced -29.0k |
| CITADEL ADVISORS LLC 0.43% of their portfolio | 473.2k $441.2m | Added +189.5k |
| MARSHALL WACE, LLP 0.59% of their portfolio | 471.4k $439.6m | Reduced -16.5k |
| Alecta Tjanstepension Omsesidigt 2.36% of their portfolio | 451.2k $420.6m | Reduced -73.0k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 1.10% of their portfolio | 441.9k $412.1m | Added +130.9k |