Mason Hawkins’ Top 5 Stock Picks

4. Warner Bros. Discovery Inc. (NASDAQ:WBD)

Southeastern Asset Management’s Q1 2023 Stake: $149.38 million

Warner Bros. Discovery Inc. (NASDAQ:WBD) is an American multinational mass media and entertainment conglomerate headquartered in New York City. It was formed from the spin-off of WarnerMedia by AT&T, and its merger with Discovery, Inc. on April 8, 2022. The firm operates a number of television networks, including popular channels such as CNN, TNT, TBS, Cartoon Network, and HBO. Billionaire Mason Hawkins reportedly holds $149.38 million worth of shares in the company at the close of Q1 2023.

On April 14, Wells Fargo reiterated an Overweight rating and a $20 price target on Warner Bros. Discovery, Inc. (NASDAQ:WBD) shares ahead of the company’s upcoming Q1 report.

According to Insider Monkey’s first quarter database, 63 hedge funds were bullish on Warner Bros. Discovery, Inc. (NASDAQ:WBD), compared to 60 funds in the prior quarter.

Smead Value Fund made the following comment about Warner Bros. Discovery, Inc. (NASDAQ:WBD) in its first quarter 2023 investor letter:

“Our best-performing stocks in the quarter were Warner Bros. Discovery, Inc. (NASDAQ:WBD), NVR (NVR) and Lennar (LEN). Warner was our worst performer in Q4 2022 and bounced back from tax selling. The home builders fooled everyone by growing their market share and making good money in the violent Fed tightening of 2022-2023.”

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