Below we take a look at The 5 Stocks That Account for 78.95% of Varenne Capital’s 13F Portfolio. For our methodology and a more comprehensive list please see The 10 Stocks That Account for 90.88% of Varenne Capital’s 13F Portfolio.
5. Warner Bros. Discovery, Inc. (NASDAQ:WBD)
Value of Varenne Capital Partners‘ 13F Position: $17.3 million
Number of Hedge Fund Shareholders: 76
Guiseppe Perrone and Marco Sormani’s Varenne Capital Partners built a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during Q2, buying 1.29 million shares that were worth 4.78% of the value of the fund’s 13F portfolio. Since peaking in the first quarter of 2021, hedge fund ownership of WBD has fallen by 17% since.
Warner Bros. Discovery, Inc. (NASDAQ:WBD) was the result from another recent merger, of industry titans Discovery Communications and Warner Media. The combined entity boasts an impressive stable of entertainment brands and content, including HBO, DC Films, Warner Bros., TLC, CNN, and The Cartoon Network.
Warner Bros. Discovery, Inc. (NASDAQ:WBD) also has two streaming services, HBO Max and Discovery+, which the company plans to likewise merge into a single service. The initiative, which will include a round of layoffs, is partly intended to cut costs as part of the $3 billion in savings that CEO David Zaslav said the merger would deliver. Analysts predict the company will pull in Q2 revenue of $11.84 billion.