Ackman Returns to Netflix with $1.5 Billion Bet on Streaming Giant
Billionaire investor Bill Ackman's Pershing Square has made significant changes to its portfolio, revealing new positions in six companies, including Netflix (NFLX) and credit card giants Visa (V) and Mastercard (MA).
Ackman's firm now holds approximately 3.15 million shares of Netflix, accounting for about 4.9% of its portfolio.
This marks Ackman's return to investing in Netflix after a four-year hiatus, following a previous investment that incurred cumulative losses of over $400 million in April 2022.
Pershing Square stated in its latest letter to shareholders that it believes Netflix has established a leading position in the streaming war, citing significant changes in the company's global paid subscriber base, advertising business, and profitability since 2022.