Three high-profile investors disclosed new $593M+ positions in WBD, signaling rare consensus on the media stock’s outlook.
Dan Loeb’s Third Point established a $533 million stake in Warner Bros Discovery (WBD), its largest new position in Q2 2026. The 20 million-share bet was built from zero as of June 30, according to regulatory filings.
David Einhorn’s Greenlight Capital and George Soros’s Soros Fund Management also initiated positions in WBD during the same quarter, totaling $59.9 million and $39.7 million, respectively. The stock has surged 137% over the past year despite $29.7 billion in net debt, with a pending sale of Paramount Skydance delayed until mid-2027.
The convergence of activist, value, and macro investors on WBD marks an unusual alignment, as the stock remains outside widely held benchmarks like the Magnificent 7.