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
Q3 2025 share counts are adjusted for a 10-for-1 stock split, so holders aren't shown as buying or selling because of it.
* 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 ($1.8bn this quarter). Holder counts are more reliable. Shares outstanding: 4.2bn as of 2025-12-31, 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 ≈ $93.92. Options: 108 managers hold calls ($15.6bn notional), 89 hold puts ($21.0bn).
Trends to Q4 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 |
| Q4 2025 | 3,555 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q4 2025 | 1,685 | 1,659 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $14.3bn | $17.1bn | 1.20 |
| Q2 2025 | $25.3bn | $30.3bn | 1.20 |
| Q3 2025 | $20.9bn | $26.5bn | 1.27 |
| Q4 2025 | $15.6bn | $21.0bn | 1.35 |
Biggest buyers
| Invesco Ltd. | Added | +92.2m |
| HSBC HOLDINGS PLC | Added | +9.3m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +7.0m |
| Corient Private Wealth LP | Added | +6.9m |
| FIL Ltd | Added | +6.0m |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | New | +5.9m |
| CITADEL ADVISORS LLC | Added | +5.8m |
| Amundi | Added | +5.5m |
| VANGUARD GROUP INC | Added | +4.8m |
| STATE STREET CORP | Added | +4.8m |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -115.0m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -23.5m |
| FMR LLC | Reduced | -15.2m |
| JENNISON ASSOCIATES LLC | Reduced | -12.3m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -11.5m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -10.8m |
| ALLIANCEBERNSTEIN L.P. | Reduced | -10.1m |
| GOLDMAN SACHS GROUP INC | Reduced | -8.7m |
| MARSHALL WACE, LLP | Reduced | -6.3m |
| Capital International Investors | Reduced | -6.2m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $3.8bn40.8m shares |
| CITADEL ADVISORS LLC | Reduced | $2.4bn25.4m shares |
| IMC-Chicago, LLC | Reduced | $1.7bn18.6m shares |
| JANE STREET GROUP, LLC | Reduced | $1.6bn17.6m shares |
| SIMPLEX TRADING, LLC | Added | $911.8m9.7m shares |
| CTC LLC | Added | $739.6m78.9k shares |
| GOLDMAN SACHS GROUP INC | Added | $587.1m6.3m shares |
| UBS Group AG | Added | $511.6m5.5m shares |
| HSBC HOLDINGS PLC | Added | $202.6m2.2m shares |
| MILLENNIUM MANAGEMENT LLC | Added | $196.7m2.1m shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $5.9bn62.9m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.7bn39.1m shares |
| IMC-Chicago, LLC | Reduced | $2.3bn24.0m shares |
| JANE STREET GROUP, LLC | Reduced | $1.4bn14.5m shares |
| SIMPLEX TRADING, LLC | Added | $943.2m10.1m shares |
| CTC LLC | Reduced | $727.4m77.6k shares |
| UBS Group AG | Added | $411.3m4.4m shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $391.0m4.2m shares |
| PEAK6 LLC | Reduced | $379.9m4.1m shares |
| Hudson Bay Capital Management LP | Added | $361.0m3.9m 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 Q4 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 |
|---|---|---|---|---|---|
| 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 |
| Q4 2025 | 0 | — | 6 | $181.4m | $175.9m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-12-01 | HASTINGS REED Director | Sold plan | $40.7m375.5k shares |
| 2025-11-06 | Willems Cletus R Chief Global Affairs Officer | Sold | $261.9k238 shares |
| 2025-11-04 | HYMAN DAVID A Chief Legal Officer | Sold plan | $34.6m31.5k shares |
| 2025-11-04 | Peters Gregory K Co-CEO, director | Sold | $2.2m2.0k shares |
| 2025-11-04 | SARANDOS THEODORE A Co-CEO, director | Sold | $2.2m2.0k shares |
| 2025-11-03 | Neumann Spencer Adam Chief Financial Officer | Sold plan | $2.6m2.4k shares |
| 2025-11-03 | Neumann Spencer Adam Chief Financial Officer | Sold | $760.2k695 shares |
| 2025-11-03 | Neumann Spencer Adam Chief Financial Officer | Sold plan | $269.2k240 shares |
| 2025-10-31 | HASTINGS REED Director | Sold plan | $45.3m40.4k shares |
| 2025-10-01 | HASTINGS REED Director | Sold plan | $49.4m42.2k shares |
| 2025-10-01 | Neumann Spencer Adam Chief Financial Officer | Sold plan | $3.0m2.6k 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, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.53% of their portfolio | 390.0m $36.6bn | Added +4.8m |
| BlackRock, Inc. 0.55% of their portfolio | 348.1m $32.6bn | Added +713.7k |
| FMR LLC 0.94% of their portfolio | 195.8m $18.4bn | Reduced -15.2m |
| STATE STREET CORP 0.56% of their portfolio | 176.8m $16.6bn | Added +4.8m |
| Invesco Ltd. 1.23% of their portfolio | 138.7m $13.0bn | Added +92.2m |
| GEODE CAPITAL MANAGEMENT, LLC 0.57% of their portfolio | 99.6m $9.3bn | Reduced -801.3k |
| Capital World Investors 1.14% of their portfolio | 89.3m $8.4bn | Reduced -3.8m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.87% of their portfolio | 86.1m $8.1bn | Reduced -23.5m |
| MORGAN STANLEY 0.48% of their portfolio | 85.3m $8.0bn | Added +253.4k |
| JPMORGAN CHASE & CO 0.40% of their portfolio | 63.5m $6.0bn | Reduced -115.0m |
| NORGES BANK 0.62% of their portfolio | 61.9m $5.8bn | Not comparable |
| BANK OF AMERICA CORP /DE/ 0.38% of their portfolio | 55.6m $5.2bn | Reduced -1.3m |
| NORTHERN TRUST CORP 0.52% of their portfolio | 43.4m $4.1bn | Reduced -746.4k |
| Capital Research Global Investors 0.73% of their portfolio | 42.4m $4.0bn | Reduced -4.7m |
| LOOMIS SAYLES & CO L P 4.21% of their portfolio | 37.2m $3.5bn | Added +54.4k |
| BAILLIE GIFFORD & CO 2.88% of their portfolio | 36.9m $3.5bn | Added +449.6k |
| ALLIANCEBERNSTEIN L.P. 1.08% of their portfolio | 36.5m $3.4bn | Reduced -10.1m |
| JENNISON ASSOCIATES LLC 1.96% of their portfolio | 34.9m $3.3bn | Reduced -12.3m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.63% of their portfolio | 32.0m $3.0bn | Added +4.5m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.44% of their portfolio | 30.4m $2.9bn | Added +723.9k |
| Bank of New York Mellon Corp 0.46% of their portfolio | 27.8m $2.6bn | Reduced -934.3k |
| Legal & General Group Plc 0.55% of their portfolio | 26.5m $2.5bn | Added +421.2k |
| Capital International Investors 0.39% of their portfolio | 26.5m $2.5bn | Reduced -6.2m |
| GOLDMAN SACHS GROUP INC 0.34% of their portfolio | 25.8m $2.4bn | Reduced -8.7m |
| BANK OF MONTREAL /CAN/ 0.94% of their portfolio | 24.4m $2.3bn | Added +198.8k |
| Amundi 0.60% of their portfolio | 23.4m $2.2bn | Added +5.5m |
| BARCLAYS PLC 0.87% of their portfolio | 23.1m $2.2bn | Added +3.6m |
| ROYAL BANK OF CANADA 0.36% of their portfolio | 21.6m $2.0bn | Added +19.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.35% of their portfolio | 21.0m $2.0bn | Reduced -10.8m |
| Nuveen, LLC 0.51% of their portfolio | 20.6m $1.9bn | Reduced -1.5m |
| Fisher Asset Management, LLC 0.66% of their portfolio | 20.5m $1.9bn | Added +151.6k |
| UBS Group AG 0.37% of their portfolio | 20.0m $1.9bn | Added +1.7m |
| HSBC HOLDINGS PLC 0.49% of their portfolio | 18.4m $1.7bn | Added +9.3m |
| AMERICAN CENTURY COMPANIES INC 0.83% of their portfolio | 17.5m $1.6bn | Added +433.9k |
| FRANKLIN RESOURCES INC 0.40% of their portfolio | 17.2m $1.6bn | Reduced -3.3m |
| Clearbridge Investments, LLC 1.25% of their portfolio | 16.7m $1.6bn | Added +401.9k |
| DEUTSCHE BANK AG\ 0.51% of their portfolio | 16.6m $1.6bn | Added +1.1m |
| DIMENSIONAL FUND ADVISORS LP 0.31% of their portfolio | 16.0m $1.5bn | Added +1.8m |
| SCHRODER INVESTMENT MANAGEMENT GROUP 1.12% of their portfolio | 15.7m $1.5bn | Reduced -1.5m |
| WELLS FARGO & COMPANY/MN 0.28% of their portfolio | 15.3m $1.4bn | Added +829.3k |
| SRS Investment Management, LLC 14.99% of their portfolio | 15.2m $1.4bn | Reduced -10 |
| JANUS HENDERSON GROUP PLC 0.56% of their portfolio | 13.3m $1.2bn | Added +307.8k |
| AMERIPRISE FINANCIAL INC 0.26% of their portfolio | 12.4m $1.2bn | Added +504.8k |
| EDGEWOOD MANAGEMENT LLC 5.40% of their portfolio | 12.1m $1.1bn | Reduced -4.4m |
| Sumitomo Mitsui Trust Group, Inc. 0.67% of their portfolio | 12.1m $1.1bn | Reduced -106.4k |
| Swiss National Bank 0.65% of their portfolio | 11.6m $1.1bn | Reduced -623.8k |
| D. E. Shaw & Co., Inc. 0.83% of their portfolio | 11.6m $1.1bn | Added +3.8m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.62% of their portfolio | 11.4m $1.1bn | Reduced -11.5m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 1.41% of their portfolio | 11.0m $1.0bn | Added +7.0m |
| COATUE MANAGEMENT LLC 2.55% of their portfolio | 10.9m $1.0bn | Added +4.7m |
| PRINCIPAL FINANCIAL GROUP INC 0.52% of their portfolio | 10.9m $1.0bn | Reduced -563.2k |
| SANDS CAPITAL MANAGEMENT, LLC 2.86% of their portfolio | 10.0m $939.8m | Reduced -1.2m |
| FIL Ltd 0.70% of their portfolio | 10.0m $939.6m | Added +6.0m |
| NORDEA INVESTMENT MANAGEMENT AB 0.78% of their portfolio | 9.7m $902.8m | Reduced -130.8k |
| National Pension Service 0.65% of their portfolio | 9.4m $878.7m | Added +98.4k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.58% of their portfolio | 9.3m $849.8m | Added +471.5k |
| Corient Private Wealth LP 0.51% of their portfolio | 9.2m $757.6m | Added +6.9m |
| BNP PARIBAS FINANCIAL MARKETS 0.50% of their portfolio | 8.4m $788.3m | Added +2.4m |
| Daiwa Securities Group Inc. 2.54% of their portfolio | 8.4m $783.0m | Added +2.3m |
| California Public Employees Retirement System 0.44% of their portfolio | 8.3m $775.6m | Added +442.1k |
| RAYMOND JAMES FINANCIAL INC 0.24% of their portfolio | 8.2m $771.4m | Added +110.0k |
| CITIGROUP INC 0.52% of their portfolio | 8.1m $763.7m | Added +474.4k |
| LPL Financial LLC 0.21% of their portfolio | 8.0m $751.1m | Reduced -136.7k |
| Swedbank AB 0.69% of their portfolio | 7.6m $716.9m | Added +3.8m |
| FIRST TRUST ADVISORS LP 0.52% of their portfolio | 7.6m $714.0m | Added +172.0k |
| RHUMBLINE ADVISERS 0.57% of their portfolio | 7.5m $705.5m | Reduced -218.4k |
| ProShare Advisors LLC 1.22% of their portfolio | 7.4m $691.2m | Added +2.0m |
| CANADA PENSION PLAN INVESTMENT BOARD 0.46% of their portfolio | 7.3m $681.7m | Reduced -1.5m |
| RENAISSANCE TECHNOLOGIES LLC 1.04% of their portfolio | 7.2m $673.0m | Added +4.5m |
| VICTORY CAPITAL MANAGEMENT INC 0.37% of their portfolio | 6.9m $651.1m | Added +1.3m |
| Bank Julius Baer & Co. Ltd, Zurich 1.78% of their portfolio | 6.9m $643.7m | Added +174.9k |
| CITADEL ADVISORS LLC 0.44% of their portfolio | 6.9m $643.3m | Added +5.8m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.20% of their portfolio | 6.7m $631.8m | Reduced -6.0m |
| Newlands Management Operations LLC 3.24% of their portfolio | 6.7m $628.9m | Unchanged |
| JANE STREET GROUP, LLC 0.74% of their portfolio | 6.7m $628.2m | Added +2.3m |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.62% of their portfolio | 6.6m $619.6m | Reduced -106.5k |
| Qube Research & Technologies Ltd 0.85% of their portfolio | 6.3m $593.8m | Added +3.0m |
| Assenagon Asset Management S.A. 0.88% of their portfolio | 6.2m $584.5m | Added +478.6k |
| Pictet Asset Management Holding SA 0.55% of their portfolio | 6.0m $562.3m | Added +1.1m |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.64% of their portfolio | 5.9m $555.3m | New |
| NATIONAL BANK OF CANADA /FI/ 0.56% of their portfolio | 5.8m $543.5m | Added +2.7m |
| Winslow Capital Management, LLC 1.77% of their portfolio | 5.7m $528.6m | Added +495.0k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.78% of their portfolio | 5.6m $523.2m | Added +583.8k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 1.82% of their portfolio | 5.5m $518.4m | Added +3.3m |
| Allianz Asset Management GmbH 0.59% of their portfolio | 5.5m $511.3m | Added +1.4m |
| NEUBERGER BERMAN GROUP LLC 0.37% of their portfolio | 5.2m $490.8m | Added +948.7k |
| GARDNER RUSSO & QUINN LLC 5.07% of their portfolio | 5.0m $469.2m | Reduced -139.5k |
| NATIXIS ADVISORS, LLC 0.66% of their portfolio | 5.0m $467.9m | Reduced -570.9k |
| CANADA LIFE ASSURANCE Co 0.81% of their portfolio | 4.9m $463.6m | Reduced -505.3k |
| STIFEL FINANCIAL CORP 0.41% of their portfolio | 4.9m $456.0m | Reduced -52.8k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.60% of their portfolio | 4.8m $449.4m | Reduced -434.8k |
| SEI INVESTMENTS CO 0.44% of their portfolio | 4.8m $445.9m | Reduced -941.6k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.71% of their portfolio | 4.6m $435.6m | Reduced -24.7k |
| Artisan Partners Limited Partnership 0.65% of their portfolio | 4.5m $422.9m | Reduced -5.3m |
| ENVESTNET ASSET MANAGEMENT INC 0.13% of their portfolio | 4.5m $422.5m | Reduced -1.1m |
| TD Asset Management Inc 0.34% of their portfolio | 4.5m $419.9m | Reduced -914.4k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.62% of their portfolio | 4.4m $414.3m | First filing |
| GILDER GAGNON HOWE & CO LLC 4.32% of their portfolio | 4.4m $409.3m | Reduced -124.6k |
| Jericho Capital Asset Management L.P. 4.63% of their portfolio | 4.3m $406.2m | Added +1.9m |
| KBC Group NV 0.91% of their portfolio | 4.3m $400.3m | Reduced -782.8k |