Bill Ackman's Pershing Square Re-Enters Netflix Four Years After Losing More Than $400 Million, Says NFLX

Billionaire investor Bill Ackman is returning to Netflix Inc.

(NASDAQ:NFLX), taking a 3.15 million-share position four years after a $400 million loss.

The new position represents 4.9% of Pershing Square's portfolio and reflects Ackman's renewed confidence that Netflix has emerged victorious in the streaming wars.

A Surprising Reversal In early 2022, Pershing Square invested over $1 billion in Netflix, only to exit months later with a loss exceeding $400 million when the company reported its first subscriber decline in decades.

However, Ackman has shifted his stance.