Billionaire David Tepper is Selling These 5 Stocks

4. Discovery Inc. (NASDAQ:DISCK)

Number of Hedge Fund Holder: 35

Discovery Inc. (NASDAQ:DISCK) is a multinational mass media television company that provides content across multiple platforms. The New York-based company, ranked fourth on the list of the 10 stocks David Tepper is selling, operates a number of factual television brands, including Discovery Channel and Animal Planet, among others.

At the end of the second quarter of 2021, Appaloosa Management sold off its entire stake in Discovery Inc. (NASDAQ:DISCK), reducing its shares of the company to 0%.

On August 3, Discovery Inc. (NASDAQ:DISCK) released its quarterly earnings report for the second quarter of 2021, with reported earnings per share at $1.01, beating estimates by $0.50. The company also reported revenues of $3.06 billion, beating forecast estimates by $77.52 million. At the end of the second quarter of 2021, 35 hedge funds in the database of Insider Monkey held stakes worth $885 million in Discovery Inc. (NASDAQ:DISCK), down from 40 the preceding quarter worth $887.5 million.

In the Q2 2021 investor letter of Smead Capital, the fund mentioned Discovery, Inc. (NASDAQ:DISCK). Here is what the fund said:

“We were most negatively affected by Discovery’s (DISCK) stock backing off from their meme-stock fame of the first quarter. Their share price then weakened further by announcing a merger with Warner Media to aggregate the best of unscripted TV shows with the best of sports and scripted TV and movies.”