A collapse in Netflix (NASDAQ: NFLX) shares to their lowest level in two years has left at least two members of Congress sitting on significant paper losses across positions accumulated over the past year.

Rep. Cleo Fields (D-La.) has emerged as the hardest hit, having made eight separate purchases of Netflix stock since November 2025 in what amounts to one of the most concentrated congressional bets on the streaming giant.

Under a worst-case calculation, assuming Fields deployed the maximum allowable reported amount in each transaction and paid the highest price on each purchase date, his total outlay would reach $1,145,000 across those eight trades.

That spending would have accumulated approximately 10,489.74 NFLX shares, a position now worth roughly $683,619.61 based on a share price of $65.17.

The resulting paper loss of $461,380.39 is not just a large number in isolation; it represents 2.65 times the standard annual congressional salary of $174,000.

Fields’ buying activity spanned a broad price range, with his earliest purchases in November 2025 executed when shares traded between $107.51 and $113.35, more than 40% above where the stock sits today.

A smaller purchase as recently as September 14, 2026, came in with shares priced between $78.49 and $81.02, meaning even his most recent entry point is underwater at current levels.

Fields is not a peripheral figure in congressional stock trading; data from Quiver Quantitative shows he has executed approximately $22.8 million in total trades since 2025, making him one of the largest traders by dollar volume among all sitting members.

His portfolio shows a clear tilt toward large-cap technology, with frequent purchases across the Magnificent Seven group of stocks reflecting a broader conviction in dominant tech names.

Rep. Byron Donalds (R-Fla.), currently campaigning for governor of Florida, also holds a losing Netflix position, having bought the stock four times between March and August 2026 at prices ranging from $73.57 to $91.88.

Donalds’ total Netflix exposure reached up to $60,000, and with shares trading at $65.03 at Wednesday’s close, those positions are estimated to be down between 11.6% and 29.2%.

The losses underscore the risks facing lawmakers who trade individual equities while Netflix’s broader business trajectory and the streaming sector’s valuation compression continue to weigh on the stock.