Ackman Buys Netflix, Adds Visa and Mastercard
Pershing Square disclosed new public stakes across media and payments; Ackman buys Netflix, reshaping the fund's exposure and trader focus.
KEY TAKEAWAYS
- Pershing Square disclosed a Netflix stake of 3.15 million shares as of June 30, 2026.
- Purchases began in Q2 2026 and will be held across Pershing Square funds.
- Ackman described the buys as earnings-driven, citing firms' earnings poised for strong growth.
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Pershing Square disclosed in a shareholder letter on Aug. 13, 2026, that Bill Ackman buys Netflix, beginning in the second quarter, as part of six new holdings that also include Visa and Mastercard.
Ackman Adds Six Stocks Including Netflix
Pershing Square revealed six new public-company positions in its semiannual report, naming Netflix, Visa, Mastercard, S&P Global, Intercontinental Exchange, and Alcon. The Netflix stake totaled 3.15 million shares as of June 30, 2026, representing 4.9% of the fund’s portfolio, making it a significant holding.
Timing and Investment Rationale
The firm said it began acquiring these positions in the second quarter of 2026, with stakes held across Pershing Square funds, including Pershing Square USA. Ackman described the purchases as earnings-driven, expressing confidence that the companies’ earnings are poised for strong growth.
Ackman previously held Netflix briefly in 2022, selling at a loss. Secondary reports indicate that earlier investment exceeded $1 billion and resulted in a loss of more than $400 million. The current moves shift Pershing Square’s public equity exposure toward payment processors and market-infrastructure firms alongside a sizable media holding, reflecting an earnings-growth investment thesis.
