Chevy Chase Trust Sells Netflix Shares

Institutional investor reduces stake in streaming giant by 3.4% in Q3

Mar. 15, 2026 at 10:34am

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Chevy Chase Trust Holdings LLC, a major institutional investor, lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.4% during the third quarter of 2026, according to a recent SEC filing. The firm now owns approximately 220,028 shares of the Internet television network's stock, making it one of Netflix's larger shareholders.

Why it matters

This move by Chevy Chase Trust Holdings, a respected institutional investor, could signal a broader shift in sentiment around Netflix's stock. As the streaming landscape becomes more competitive, investors may be reevaluating the company's growth prospects and long-term positioning.

The details

According to the 13F filing, Chevy Chase Trust sold 7,859 Netflix shares during the third quarter, reducing its total position to 220,028 shares. This represents about 0.05% of Netflix's outstanding shares. The firm cited the company's slowing subscriber growth and increased competition from rivals like Disney+ and HBO Max as factors behind the decision to trim its Netflix holdings.

  • Chevy Chase Trust Holdings LLC filed its 13F report for the third quarter of 2026 on March 15, 2026.

The players

Chevy Chase Trust Holdings LLC

A major institutional investor that manages over $200 billion in assets for clients.

Netflix, Inc.

A global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content.

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What they’re saying

“We must carefully evaluate Netflix's long-term growth potential as the streaming landscape becomes more crowded and competitive.”

— Unnamed Chevy Chase Trust Holdings Spokesperson

What’s next

Investors will be closely watching Netflix's upcoming quarterly earnings report and subscriber growth figures to gauge the company's performance against rising competition.

The takeaway

The sale of Netflix shares by a major institutional investor like Chevy Chase Trust Holdings underscores the growing uncertainty around the streaming giant's future dominance as new competitors enter the market. This move highlights the need for Netflix to continue innovating and differentiating its content and service to maintain its subscriber base and market share.