Key Points Pershing Square rebuilt its Netflix position in Q2 2026, four years after exiting in June 2022. Forward P/E fell from roughly 40 to 21 during the Warner Bros. Discovery bidding fight, which is what drew Ackman back. Netflix holds just 7.5% of total U.S. TV viewing time, leaving room to take share from Disney, Alphabet, and Amazon. 10 stocks we like better than Netflix › Most Netflix (NASDAQ: NFLX) shares are held by exchange-traded funds and other financial institutions. The Vanguard Total Stock Market Index ETF (NYSEMKT: VTI) alone owns 3.2% of Netflix stock. That's par for the course, since Netflix is among the top 50 stocks on Wall Street by market cap. But Netflix's popularity goes far beyond the funds required to hold it.
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