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 ($1.7bn this quarter). Holder counts are more reliable. Shares outstanding: 423.7m as of 2025-09-30, 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 ≈ $1198.00. Options: 91 managers hold calls ($20.9bn notional), 93 hold puts ($26.5bn).
Trends to Q3 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 |
| Q2 2025 | 3,491 |
| Q3 2025 | 3,496 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q2 2025 | 1,862 | 1,270 |
| Q3 2025 | 1,762 | 1,366 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $15.6bn | $22.1bn | 1.41 |
| Q1 2025 | $14.3bn | $17.1bn | 1.20 |
| Q2 2025 | $25.3bn | $30.3bn | 1.20 |
| Q3 2025 | $20.9bn | $26.5bn | 1.27 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +7.9m |
| BlackRock, Inc. | Added | +782.6k |
| VIKING GLOBAL INVESTORS LP | New | +500.8k |
| JANE STREET GROUP, LLC | Added | +388.4k |
| MARSHALL WACE, LLP | Added | +370.2k |
| DIMENSIONAL FUND ADVISORS LP | Added | +367.2k |
| Invesco Ltd. | Added | +313.0k |
| GOLDMAN SACHS GROUP INC | Added | +283.1k |
| Squarepoint Ops LLC | Added | +280.4k |
| BARCLAYS PLC | Added | +247.5k |
Biggest sellers
| ROYAL BANK OF CANADA | Reduced | -1.8m |
| GQG Partners LLC | Reduced | -1.5m |
| Capital World Investors | Reduced | -1.1m |
| FMR LLC | Reduced | -984.8k |
| JENNISON ASSOCIATES LLC | Reduced | -904.1k |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -786.4k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | Sold out | -387.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -385.9k |
| POLEN CAPITAL MANAGEMENT LLC | Reduced | -336.4k |
| Amundi | Reduced | -335.9k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $4.8bn4.0m shares |
| CITADEL ADVISORS LLC | Reduced | $3.4bn2.9m shares |
| IMC-Chicago, LLC | Added | $2.4bn2.0m shares |
| JANE STREET GROUP, LLC | Reduced | $2.2bn1.8m shares |
| WOLVERINE TRADING, LLC | Reduced | $1.2bn956.1k shares |
| CTC LLC | Reduced | $918.1m7.7k shares |
| SIMPLEX TRADING, LLC | Reduced | $792.4m660.9k shares |
| GOLDMAN SACHS GROUP INC | Reduced | $447.4m373.2k shares |
| UBS Group AG | Added | $380.9m317.7k shares |
| D. E. Shaw & Co., Inc. | Reduced | $328.0m273.6k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $6.1bn5.1m shares |
| IMC-Chicago, LLC | Added | $3.6bn3.0m shares |
| CITADEL ADVISORS LLC | Reduced | $3.1bn2.6m shares |
| JANE STREET GROUP, LLC | Added | $1.8bn1.5m shares |
| CTC LLC | Reduced | $1.3bn10.5k shares |
| WOLVERINE TRADING, LLC | Reduced | $1.3bn1.0m shares |
| SIMPLEX TRADING, LLC | Reduced | $1.1bn917.5k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $918.3m765.9k shares |
| CMT Capital Markets Trading GmbH | Added | $916.1m764.1k shares |
| PEAK6 LLC | Added | $610.3m509.0k 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 Q3 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 |
|---|---|---|---|---|---|
| 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 |
| Q2 2025 | 0 | — | 13 | $243.5m | $237.2m |
| Q3 2025 | 0 | — | 7 | $108.7m | $102.4m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-09-02 | HASTINGS REED Director | Sold plan | $31.4m26.0k shares |
| 2025-09-02 | Neumann Spencer Adam Chief Financial Officer | Sold plan | $3.1m2.6k shares |
| 2025-08-06 | Neumann Spencer Adam Chief Financial Officer | Sold | $795.4k685 shares |
| 2025-08-06 | Willems Cletus R Chief Global Affairs Officer | Sold | $274.5k238 shares |
| 2025-08-05 | SARANDOS THEODORE A Co-CEO, director | Sold | $2.4m2.0k shares |
| 2025-08-05 | Peters Gregory K Co-CEO, director | Sold | $2.3m2.0k shares |
| 2025-08-05 | HYMAN DAVID A Chief Legal Officer | Sold | $491.3k424 shares |
| 2025-08-01 | HASTINGS REED Director | Sold plan | $26.5m22.8k shares |
| 2025-08-01 | Neumann Spencer Adam Chief Financial Officer | Sold plan | $3.0m2.6k shares |
| 2025-07-01 | HASTINGS REED Director | Sold plan | $21.8m16.8k shares |
| 2025-07-01 | HASTINGS REED Director | Sold plan | $12.9m9.7k shares |
| 2025-07-01 | Neumann Spencer Adam Chief Financial Officer | Sold plan | $3.4m2.6k shares |
| 2025-07-01 | Masiyiwa Strive Director | Sold plan | $387.6k290 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, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.69% of their portfolio | 38.5m $46.2bn | Added +142.2k |
| BlackRock, Inc. 0.73% of their portfolio | 34.7m $41.7bn | Added +782.6k |
| FMR LLC 1.32% of their portfolio | 21.1m $25.3bn | Reduced -984.8k |
| JPMORGAN CHASE & CO 0.68% of their portfolio | 17.9m $21.4bn | Added +7.9m |
| STATE STREET CORP 0.72% of their portfolio | 17.2m $20.6bn | Reduced -241.1k |
| PRICE T ROWE ASSOCIATES INC /MD/ 1.40% of their portfolio | 11.0m $13.1bn | Reduced -237.6k |
| GEODE CAPITAL MANAGEMENT, LLC 0.76% of their portfolio | 10.0m $12.0bn | Added +113.3k |
| Capital World Investors 1.53% of their portfolio | 9.3m $11.2bn | Reduced -1.1m |
| MORGAN STANLEY 0.62% of their portfolio | 8.5m $10.2bn | Added +147.2k |
| BANK OF AMERICA CORP /DE/ 0.51% of their portfolio | 5.7m $6.8bn | Reduced -86.9k |
| JENNISON ASSOCIATES LLC 3.29% of their portfolio | 4.7m $5.7bn | Reduced -904.1k |
| Capital Research Global Investors 1.06% of their portfolio | 4.7m $5.6bn | Reduced -28.5k |
| ALLIANCEBERNSTEIN L.P. 1.76% of their portfolio | 4.7m $5.6bn | Reduced -260.0k |
| Invesco Ltd. 0.88% of their portfolio | 4.6m $5.6bn | Added +313.0k |
| NORTHERN TRUST CORP 0.68% of their portfolio | 4.4m $5.3bn | Reduced -41.0k |
| LOOMIS SAYLES & CO L P 5.30% of their portfolio | 3.7m $4.5bn | Reduced -17.4k |
| BAILLIE GIFFORD & CO 3.24% of their portfolio | 3.6m $4.4bn | Reduced -254.5k |
| GOLDMAN SACHS GROUP INC 0.60% of their portfolio | 3.4m $4.1bn | Added +283.1k |
| Capital International Investors 0.63% of their portfolio | 3.3m $3.9bn | Reduced -42.8k |
| WELLINGTON MANAGEMENT GROUP LLP 0.67% of their portfolio | 3.2m $3.8bn | Reduced -786.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.57% of their portfolio | 3.0m $3.6bn | Added +117.4k |
| Bank of New York Mellon Corp 0.62% of their portfolio | 2.9m $3.4bn | Reduced -47.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.71% of their portfolio | 2.7m $3.3bn | Reduced -385.9k |
| Legal & General Group Plc 0.70% of their portfolio | 2.6m $3.1bn | Added +64.8k |
| BANK OF MONTREAL /CAN/ 1.23% of their portfolio | 2.4m $2.9bn | Reduced -4.2k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 1.73% of their portfolio | 2.3m $2.7bn | Reduced -165.5k |
| Nuveen, LLC 0.70% of their portfolio | 2.2m $2.7bn | Reduced -192.6k |
| ROYAL BANK OF CANADA 0.46% of their portfolio | 2.2m $2.6bn | Reduced -1.8m |
| FRANKLIN RESOURCES INC 0.61% of their portfolio | 2.1m $2.5bn | Added +5.8k |
| Fisher Asset Management, LLC 0.88% of their portfolio | 2.0m $2.4bn | Added +14.5k |
| BARCLAYS PLC 0.86% of their portfolio | 1.9m $2.3bn | Added +247.5k |
| UBS Group AG 0.43% of their portfolio | 1.8m $2.2bn | Reduced -41.2k |
| Amundi 0.67% of their portfolio | 1.8m $2.1bn | Reduced -335.9k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 1.61% of their portfolio | 1.7m $2.1bn | Added +87.5k |
| AMERICAN CENTURY COMPANIES INC 1.04% of their portfolio | 1.7m $2.0bn | Added +71.1k |
| EDGEWOOD MANAGEMENT LLC 7.01% of their portfolio | 1.7m $2.0bn | Reduced -168.8k |
| Clearbridge Investments, LLC 1.47% of their portfolio | 1.6m $2.0bn | Reduced -7.0k |
| DEUTSCHE BANK AG\ 0.62% of their portfolio | 1.6m $1.9bn | Added +222.4k |
| SRS Investment Management, LLC 19.82% of their portfolio | 1.5m $1.8bn | Reduced -116.0k |
| WELLS FARGO & COMPANY/MN 0.36% of their portfolio | 1.5m $1.7bn | Added +21.5k |
| DIMENSIONAL FUND ADVISORS LP 0.37% of their portfolio | 1.4m $1.7bn | Added +367.2k |
| JANUS HENDERSON GROUP PLC 0.71% of their portfolio | 1.3m $1.6bn | Reduced -6.4k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.47% of their portfolio | 1.3m $1.5bn | Reduced -246.7k |
| Swiss National Bank 0.85% of their portfolio | 1.2m $1.5bn | Reduced -68.1k |
| Sumitomo Mitsui Trust Group, Inc. 0.84% of their portfolio | 1.2m $1.5bn | Added +3.3k |
| AMERIPRISE FINANCIAL INC 0.33% of their portfolio | 1.2m $1.4bn | Added +175.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.69% of their portfolio | 1.1m $1.4bn | Reduced -26.1k |
| SANDS CAPITAL MANAGEMENT, LLC 3.71% of their portfolio | 1.1m $1.3bn | Reduced -11.0k |
| NORDEA INVESTMENT MANAGEMENT AB 1.02% of their portfolio | 979.9k $1.2bn | Added +34.8k |
| Artisan Partners Limited Partnership 1.69% of their portfolio | 979.2k $1.2bn | Reduced -122.9k |
| National Pension Service 0.86% of their portfolio | 927.4k $1.1bn | Added +27.9k |
| HSBC HOLDINGS PLC 0.64% of their portfolio | 910.9k $1.1bn | Reduced -72.9k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.77% of their portfolio | 886.8k $1.1bn | Added +34.2k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.74% of their portfolio | 877.8k $1.1bn | Added +203.6k |
| Robeco Institutional Asset Management B.V. 1.42% of their portfolio | 817.0k $979.5m | Added +10.4k |
| LPL Financial LLC 0.29% of their portfolio | 814.7k $976.8m | Added +37.3k |
| RAYMOND JAMES FINANCIAL INC 0.31% of their portfolio | 811.7k $973.2m | Reduced -134.2k |
| California Public Employees Retirement System 0.56% of their portfolio | 783.0k $938.8m | Added +16.3k |
| D. E. Shaw & Co., Inc. 0.76% of their portfolio | 782.6k $938.2m | Reduced -166.4k |
| RHUMBLINE ADVISERS 0.75% of their portfolio | 774.3k $928.4m | Reduced -13.4k |
| CITIGROUP INC 0.63% of their portfolio | 767.0k $919.6m | Reduced -227.0k |
| FIRST TRUST ADVISORS LP 0.66% of their portfolio | 744.3k $892.4m | Added +43.3k |
| MARSHALL WACE, LLP 0.98% of their portfolio | 742.0k $889.7m | Added +370.2k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.78% of their portfolio | 719.9k $863.1m | Reduced -313.5k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.83% of their portfolio | 671.5k $805.1m | Reduced -65 |
| Newlands Management Operations LLC 3.81% of their portfolio | 670.7k $804.1m | Unchanged |
| Bank Julius Baer & Co. Ltd, Zurich 2.26% of their portfolio | 669.2k $802.3m | Added +26.3k |
| AXIOM INVESTORS LLC /DE 5.83% of their portfolio | 659.8k $791.1m | Reduced -60.8k |
| COATUE MANAGEMENT LLC 1.82% of their portfolio | 618.7k $741.8m | Unchanged |
| Daiwa Securities Group Inc. 2.47% of their portfolio | 610.0k $731.3m | Added +94.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.56% of their portfolio | 601.4k $721.0m | Reduced -26.4k |
| Assenagon Asset Management S.A. 1.02% of their portfolio | 575.6k $690.1m | Added +128.7k |
| SEI INVESTMENTS CO 0.73% of their portfolio | 569.7k $683.1m | Reduced -51.7k |
| VICTORY CAPITAL MANAGEMENT INC 0.40% of their portfolio | 565.7k $678.3m | Reduced -22.1k |
| ENVESTNET ASSET MANAGEMENT INC 0.19% of their portfolio | 564.7k $677.0m | Reduced -17.7k |
| TWO SIGMA ADVISERS, LP 1.34% of their portfolio | 558.1k $669.1m | Added +38.2k |
| NATIXIS ADVISORS, LLC 0.97% of their portfolio | 556.1k $666.7m | Reduced -10.7k |
| CANADA LIFE ASSURANCE Co 0.94% of their portfolio | 544.7k $656.9m | Reduced -14.3k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 2.20% of their portfolio | 540.7k $648.2m | Reduced -3.0k |
| TD Asset Management Inc 0.53% of their portfolio | 539.3k $646.6m | Reduced -11.0k |
| ProShare Advisors LLC 1.34% of their portfolio | 533.6k $639.7m | Reduced -120.2k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.81% of their portfolio | 522.8k $626.8m | Reduced -39.6k |
| Winslow Capital Management, LLC 2.04% of their portfolio | 515.7k $618.3m | Reduced -72.1k |
| GARDNER RUSSO & QUINN LLC 6.61% of their portfolio | 514.4k $616.8m | Reduced -27.9k |
| VOYA INVESTMENT MANAGEMENT LLC 0.61% of their portfolio | 514.2k $615.4m | Reduced -40.7k |
| KBC Group NV 1.45% of their portfolio | 505.2k $605.7m | Added +17.6k |
| VIKING GLOBAL INVESTORS LP 1.56% of their portfolio | 500.8k $600.4m | New |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.96% of their portfolio | 499.7k $599.7m | Added +23.8k |
| Pictet Asset Management Holding SA 0.57% of their portfolio | 492.8k $590.9m | Added +37.4k |
| STIFEL FINANCIAL CORP 0.54% of their portfolio | 491.6k $589.4m | Added +9.0k |
| POLEN CAPITAL MANAGEMENT LLC 1.86% of their portfolio | 478.9k $574.1m | Reduced -336.4k |
| ACADIAN ASSET MANAGEMENT LLC 1.00% of their portfolio | 478.1k $573.2m | Reduced -53.7k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.93% of their portfolio | 465.5k $558.1m | Added +19.8k |
| GILDER GAGNON HOWE & CO LLC 5.48% of their portfolio | 449.0k $538.3m | Reduced -22.0k |
| JANE STREET GROUP, LLC 0.62% of their portfolio | 440.1k $527.7m | Added +388.4k |
| NEUBERGER BERMAN GROUP LLC 0.38% of their portfolio | 428.6k $513.8m | Added +35.7k |
| Alecta Tjanstepension Omsesidigt 2.28% of their portfolio | 426.0k $510.4m | Reduced -16.0k |
| PRUDENTIAL FINANCIAL INC 0.58% of their portfolio | 408.4k $489.7m | Reduced -45.3k |
| Allianz Asset Management GmbH 0.60% of their portfolio | 408.4k $489.6m | Added +31.1k |
| FIL Ltd 0.38% of their portfolio | 401.1k $480.9m | Added +46.3k |