Bill Ackman's Pershing Square Discloses New $1 Billion Stake in Netflix

Bill Ackman's Pershing Square Capital Management has established a new $1 billion position in Netflix, representing roughly 5% of the hedge fund's portfolio. The disclosure marks Ackman's return to the streaming leader following an estimated $400 million loss when he exited a previous stake in 2022. The re-entry was part of a second-quarter portfolio reallocation in which Pershing Square completely exited Alphabet and boosted its Meta Platforms holding. Netflix shares trade at $71.79, down 40.56% over the past year, as Ackman targets its expanding ad tier and over 325 million subscribers.