Third Point discloses Warner Bros Discovery stake, adds to Alphabet and railway exposure

Norfolk Southern

14/08/2026 23:26

By David French
NEW YORK, Aug 14 (Reuters) - Billionaire investor Daniel Loeb's hedge fund Third Point took a stake in Warner Bros. Discovery WBD.O in the second quarter, according to a regulatory filing published on Friday.
The position of 20 million shares would make the fund one of the media company's 20 largest investors, according to LSEG data, at a time when its $110 billion acquisition by Paramount Skydance PSKY.O has been put on pause amid court challenges.
Third Point has a long history of investing in the media industry, including pushing for change at The Walt Disney Company DIS.N in 2022. 
The New York-based fund also disclosed that it had increased its stake in Google parent Alphabet GOOGL.O, as well as boosted its holdings of both Union Pacific UNP.N and Norfolk Southern NSC.N, as the two railway operators pursue their $85 billion merger.
Among other new investments disclosed in the 13F filing were a position in Riot Platforms RIOT.O, making Third Point one of the bitcoin miner's 25 largest investors, as well as a stake in payments processor Block XYZ.N and a small holding in  Elon Musk's SpaceX SPCX.O.
     

(Reporting by David French in New York; Editing by Sanjeev Miglani)
((davidj.french@tr.com))