Here’s What Lifted Warner Bros. Discovery (WBD) in Q4

Greenlight Capital, an investment management company, released its fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. Greenlight Capital’s investment strategy focuses on constructing a bottom-up portfolio comprising undervalued long positions and overvalued short positions, while also including a macro book to hedge risks and capture insights. The Partnership returned 9.0% (net) in 2025 compared to 17.9% for the S&P 500 index. In contrast, it returned 8.5% in Q4, compared to 2.7% for the index. The Partnership has returned $6.1 billion, net of fees and expenses, to its investors since its inception in May 1996.  For more information on the Partnership’s top picks in 2025, please check its top five holdings.

In its fourth-quarter 2025 investor letter, Greenlight Capital highlighted stocks like Warner Bros. Discovery, Inc. (NASDAQ:WBD). Warner Bros. Discovery, Inc. (NASDAQ:WBD) is a global media and entertainment company. The one-month return for Warner Bros. Discovery, Inc. (NASDAQ:WBD) was -2.91%, and its shares gained 163.47% over the last 52 weeks. On January 28, 2026, Warner Bros. Discovery, Inc. (NASDAQ:WBD) stock closed at $27.98 per share, with a market capitalization of $69.35 billion.

Greenlight Capital stated the following regarding Warner Bros. Discovery, Inc. (NASDAQ:WBD) in its fourth quarter 2025 investor letter:

“Warner Bros. Discovery, Inc. (NASDAQ:WBD) is a media conglomerate that owns HBO, the Warner Bros. Studio and content library, and various linear cable networks. We acquired our shares at an average price of $22.66 after Paramount Skydance (PSKY) bid $23.50 for the company, as we expected additional bidders to emerge. Shortly thereafter, Netflix submitted a $27.75 bid for WBD’s streaming and studio assets, prompting PSKY to raise its offer to $30 per share. We believe a sale in the low- to mid-$30s is the most likely outcome. WBD shares ended the quarter at $28.82.”

Warner Bros. Discovery, Inc. (WBD)'s CEO Is The Right Executive For This Environment, Says Jim Cramer

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 70 hedge fund portfolios held Warner Bros. Discovery, Inc. (NASDAQ:WBD) at the end of the third quarter, up from 67 in the previous quarter.While we acknowledge the risk and potential of Warner Bros. Discovery, Inc. (NASDAQ:WBD) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Warner Bros. Discovery, Inc. (NASDAQ:WBD) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

In another article, we covered Warner Bros. Discovery, Inc. (NASDAQ:WBD) and shared the list of up-and-coming streaming companies and services. Warner Bros. Discovery, Inc. (NASDAQ:WBD) was the top contributor Oakmark Fund’s performance during Q4 2025. In addition, please check out our hedge fund investor letters Q4 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.