WBDNasdaqCable & Other Pay Television ServicesFiscal year ends December 31
Warner Bros. Discovery, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$30.95+0.01 (+0.03%)
Close on Oct 5, 2026
- Market cap
- $79.70B
- P/E (TTM)
- –
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
77.5%
1.94B of 2.51B shares
Institutional holders
1,309
116 new, 96 sold out
Net institutional buying
135M
In Q2 2026
Insider trades, 12 months
0 buys · 56 sales
Net sold $406.70M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Advance Publications, Inc. | 198,181,749 | 8.12% | 13D (active) amendment | Mar 29, 2024 |
| Vanguard Capital Management | 181,104,955 | 7.22% | 13G (passive) | Mar 31, 2026 |
| BlackRock, Inc. | 154,407,752 | 6.30% | 13G (passive) amendment | Dec 31, 2023 |
| State Street Corporation | 131,075,328 | 5.30% | 13G (passive) | Dec 31, 2025 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of WBD | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 198,085,828 | 7.89% | $5.28B | +3,281,613 | 0.08% |
| Vanguard Capital Management LLC | 158,635,529 | 6.32% | $4.23B | +1,726,939 | 0.09% |
| State Street Corp | 128,364,674 | 5.11% | $3.42B | +934,964 | 0.10% |
| Vanguard Portfolio Management LLC | 105,102,281 | 4.19% | $2.80B | +1,704,640 | 0.13% |
| Invesco Ltd. | 80,086,951 | 3.19% | $2.14B | +2,487,790 | 0.17% |
| Geode Capital Management, LLC | 69,897,377 | 2.78% | $1.86B | −42,146 | 0.10% |
| Millennium Management LLC | 57,657,575 | 2.30% | $1.54B | +13,718,183 | 0.56% |
| Pentwater Capital Management LP | 47,576,000 | 1.89% | $1.27B | −2,669,000 | 7.76% |
| FMR LLC | 45,257,749 | 1.80% | $1.21B | +12,787,176 | 0.05% |
| Citadel Advisors LLC | 44,587,810 | 1.78% | $1.19B | +15,207,100 | 0.14% |
| D. E. Shaw & Co., Inc. | 40,750,490 | 1.62% | $1.09B | +25,861,087 | 0.52% |
| Norges Bank | 31,238,355 | 1.24% | $832.81M | New | 0.08% |
| Sessa Capital IM, L.P. | 30,165,805 | 1.20% | $804.22M | −1,800,000 | 13.45% |
| Morgan Stanley | 25,684,576 | 1.02% | $684.75M | −5,240,163 | 0.04% |
| Goldman Sachs Group Inc | 25,006,903 | 1.00% | $666.68M | +1,194,330 | 0.06% |
| Northern Trust Corp | 22,010,425 | 0.88% | $586.80M | −491,621 | 0.07% |
| Qube Research & Technologies Ltd | 21,723,714 | 0.87% | $579.15M | +6,397,934 | 0.54% |
| UBS Group AG | 20,837,420 | 0.83% | $555.53M | +1,265,089 | 0.07% |
| JPMorgan Chase & Co | 20,460,517 | 0.81% | $555.09M | +1,287,460 | 0.03% |
| Third Point LLC | 20,000,000 | 0.80% | $533.20M | New | 11.39% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 1,309 | 1.94B | 77.5% | 116 / 511 | 434 / 96 | 263M | 128M |
| Q1 2026 | 1,313 | 1.81B | 72.2% | 163 / 463 | 448 / 143 | 561M | 267M |
| Q4 2025 | 1,317 | 1.81B | 72.0% | 317 / 413 | 404 / 130 | 368M | 293M |
| Q3 2025 | 1,154 | 1.73B | 69.0% | 155 / 379 | 412 / 141 | 262M | 273M |
| Q2 2025 | 1,158 | 1.75B | 69.5% | 124 / 366 | 472 / 124 | 184M | 116M |
| Q1 2025 | 1,172 | 1.68B | 66.9% | 113 / 408 | 415 / 116 | 174M | 81M |
| Q4 2024 | 1,201 | 1.60B | 63.7% | 201 / 330 | 485 / 126 | 212M | 103M |
| Q3 2024 | 1,149 | 1.51B | 60.2% | 101 / 356 | 477 / 137 | 284M | 100M |
| Q2 2024 | 1,194 | 1.49B | 59.5% | 118 / 391 | 487 / 124 | 109M | 157M |
| Q1 2024 | 1,216 | 1.55B | 61.6% | 114 / 385 | 523 / 138 | 176M | 127M |
| Q4 2023 | 1,260 | 1.50B | 59.7% | 167 / 357 | 565 / 123 | 129M | 81M |
| Q3 2023 | 1,233 | 1.45B | 57.9% | 97 / 403 | 537 / 125 | 88M | 76M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of WBD | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 75,610,712 | 3.01% | $2.02B | 0.09% | Jun 30, 2026 |
| Vanguard 500 Index Fund | 64,224,548 | 2.56% | $1.71B | 0.10% | Jun 30, 2026 |
| Invesco QQQ Trust, Series 1 | 53,219,468 | 2.12% | $1.42B | 0.29% | Jun 30, 2026 |
| Vanguard Mid-Cap Index Fund | 51,608,076 | 2.06% | $1.38B | 0.61% | Jun 30, 2026 |
| State Street(R) Communication Services Select Sector SPDR(R) ETF | 38,964,317 | 1.55% | $1.04B | 4.67% | Jun 30, 2026 |
| iShares Core S&P 500 ETF | 34,091,716 | 1.36% | $908.89M | 0.10% | Jun 30, 2026 |
| Fidelity 500 Index Fund | 31,716,114 | 1.26% | $856.65M | 0.10% | May 31, 2026 |
| Vanguard Value Index Fund | 22,649,709 | 0.90% | $603.84M | 0.24% | Jun 30, 2026 |
| Vanguard Mid-Cap Value Index Fund | 15,297,809 | 0.61% | $407.84M | 1.10% | Jun 30, 2026 |
| Vanguard Institutional Index Fund | 13,454,796 | 0.54% | $358.70M | 0.10% | Jun 30, 2026 |
| Invesco NASDAQ 100 ETF | 10,536,875 | 0.42% | $284.60M | 0.29% | May 31, 2026 |
| iShares Russell Mid-Cap ETF | 9,889,686 | 0.39% | $263.66M | 0.46% | Jun 30, 2026 |
| Fidelity Series Value Discovery Fund | 9,498,942 | 0.38% | $249.82M | 1.41% | Jul 31, 2026 |
| Strategic Advisers Fidelity U.S. Total Stock Fund | 9,240,072 | 0.37% | $249.57M | 0.10% | May 31, 2026 |
| Fidelity Mid Cap Index Fund | 9,116,266 | 0.36% | $239.76M | 0.46% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| David Zaslav | Chief Executive Officer & Pres, Director | 6,807,934 | 0.27% | Aug 14, 2026 |
| Lori C. Locke | Chief Accounting Officer | 86,906 | 0.00% | Sep 16, 2026 |
| Amy Girdwood | Chief People & Culture Officer | 539,374 | 0.02% | Sep 10, 2026 |
| Jean-Briac Perrette | Pres.&CEO, Global Streaming | 1,047,016 | 0.04% | Aug 31, 2026 |
| Gunnar Wiedenfels | Chief Financial Officer | 705,397 | 0.03% | Aug 18, 2026 |
| Gerhard Zeiler | President, International | 537,436 | 0.02% | Aug 12, 2026 |
| Bruce Campbell | Chief Rev & Strategy Officer | 604,666 | 0.02% | Mar 10, 2026 |
| Priya Aiyar | Chief Legal Officer | 897,844 | 0.04% | Mar 10, 2026 |
| Jennifer Remling | Chief People & Culture Officer | 443,626 | 0.02% | Mar 4, 2025 |
| Savalle Sims | Chief Legal Officer | 599,320 | 0.02% | Dec 17, 2024 |
| Richard W. Fisher | Director | 52,846 | 0.00% | Sep 14, 2026 |
| Kenneth W. Lowe | Director | 590,901 | 0.02% | Sep 11, 2026 |
| Anton J. Levy | Director | 618,067 | 0.02% | Sep 8, 2026 |
| Fazal F. Merchant | Director | 33,067 | 0.00% | Aug 14, 2026 |
| Piazza Samuel A. Di Jr. | Director | 134,104 | 0.01% | Aug 12, 2026 |
| Anthony Noto | Director | 53,444 | 0.00% | Jul 1, 2026 |
| Paul A. Gould | Director | 253,424 | 0.01% | Jun 11, 2026 |
| Joseph Levin | Director | 43,604 | 0.00% | Jun 11, 2026 |
| Debra L. Lee | Director | 75,873 | 0.00% | Jun 11, 2026 |
| Paula A. Price | Director | 92,218 | 0.00% | Jun 11, 2026 |
| Geoffrey Y. Yang | Director | 225,404 | 0.01% | Jun 11, 2026 |
| Daniel E. Sanchez | Director | 53,121 | 0.00% | Jun 11, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Lori C. Locke Chief Accounting Officer | Sep 14, 2026 | Sale | −29,115 | $28.13 | $819.00K | 86,906 |
| Richard W. Fisher Director | Sep 11, 2026 | Sale | −6,700 | $28.06 | $188.00K | 52,846 |
| Kenneth W. Lowe Director | Sep 10, 2026 | Sale | −200,000 | $28.23 | $5.65M | 590,108 |
| Amy Girdwood Chief People & Culture Officer | Sep 9, 2026 | Sale | −262,285 | $27.98 | $7.34M | 539,374 |
| Anton J. Levy Director | Sep 3, 2026 | Sale | −340,000 | $28.39 | $9.65M | 618,067 |
| Kenneth W. Lowe Director | Sep 3, 2026 | Sale | −200,000 | $28.35 | $5.67M | 790,108 |
| Jean-Briac Perrette Pres.&CEO, Global Streaming | Aug 27, 2026 | Sale | −126,707 | $28.96 | $3.67M | 1,047,016 |
| Gunnar Wiedenfels Chief Financial Officer | Aug 17, 2026 | Award | +71,455 | – | – | 691,257 |
| David Zaslav Chief Executive Officer & Pres, Director | Aug 14, 2026 | Sale(10b5-1 plan) | −194,999 | $28.02 | $5.46M | 6,807,934 |
| David Zaslav Chief Executive Officer & Pres, Director | Aug 14, 2026 | Option exercise | +194,999 | $10.16 | $1.98M | 7,002,933 |
| David Zaslav Chief Executive Officer & Pres, Director | Aug 13, 2026 | Option exercise | +678,267 | $10.16 | $6.89M | 7,486,201 |
| David Zaslav Chief Executive Officer & Pres, Director | Aug 13, 2026 | Sale(10b5-1 plan) | −94,906 | $28.00 | $2.66M | 6,807,934 |
| David Zaslav Chief Executive Officer & Pres, Director | Aug 13, 2026 | Sale(10b5-1 plan) | −678,267 | $28.01 | $19.00M | 6,807,934 |
| Fazal F. Merchant Director | Aug 13, 2026 | Sale | −71,539 | $27.75 | $1.99M | 33,067 |
| Richard W. Fisher Director | Aug 12, 2026 | Sale | −20,000 | $27.46 | $549.20K | 59,546 |
| Piazza Samuel A. Di Jr. Director | Aug 11, 2026 | Discretionary | −82,415 | $27.07 | $2.23M | 130,661 |
| Kenneth W. Lowe Director | Aug 11, 2026 | Sale | −120,000 | $26.97 | $3.24M | 990,108 |
| Gerhard Zeiler President, International | Aug 10, 2026 | Sale | −92,691 | $27.02 | $2.50M | 537,436 |
| Gerhard Zeiler President, International | Aug 10, 2026 | Option exercise | +201,656 | $15.02 | $3.03M | 739,092 |
| Gerhard Zeiler President, International | Aug 10, 2026 | Sale | −100,000 | $27.06 | $2.71M | 537,436 |
| Gerhard Zeiler President, International | Aug 10, 2026 | Sale | −201,656 | $27.07 | $5.46M | 537,436 |
| Gerhard Zeiler President, International | Aug 10, 2026 | Option exercise | +92,691 | $11.02 | $1.02M | 630,127 |
| Gerhard Zeiler President, International | Aug 10, 2026 | Sale | −196,691 | $27.04 | $5.32M | 537,436 |
| Gerhard Zeiler President, International | Aug 10, 2026 | Option exercise | +196,691 | $8.67 | $1.71M | 734,127 |
| David Zaslav Chief Executive Officer & Pres, Director | Jul 13, 2026 | Sale(10b5-1 plan) | −94,906 | $27.22 | $2.58M | 6,902,840 |
| David Zaslav Chief Executive Officer & Pres, Director | Jul 13, 2026 | Option exercise | +2,089,876 | $10.16 | $21.23M | 9,087,622 |
| David Zaslav Chief Executive Officer & Pres, Director | Jul 13, 2026 | Sale(10b5-1 plan) | −2,089,876 | $27.22 | $56.89M | 6,997,746 |
| Anthony Noto Director | Jun 30, 2026 | Award | +1,079 | – | – | 53,444 |
| David Zaslav Chief Executive Officer & Pres, Director | Jun 12, 2026 | Tax withholding | −202,881 | $26.98 | $5.47M | 6,997,746 |
| Anton J. Levy Director | Jun 9, 2026 | Award | +9,067 | – | – | 958,067 |
| Daniel E. Sanchez Director | Jun 9, 2026 | Award | +9,067 | – | – | 53,121 |
| Debra L. Lee Director | Jun 9, 2026 | Award | +9,067 | – | – | 75,873 |
| Geoffrey Y. Yang Director | Jun 9, 2026 | Award | +9,067 | – | – | 127,119 |
| Paul A. Gould Director | Jun 9, 2026 | Award | +9,067 | – | – | 253,424 |
| Richard W. Fisher Director | Jun 9, 2026 | Award | +9,067 | – | – | 79,546 |
| Piazza Samuel A. Di Jr. Director | Jun 9, 2026 | Award | +9,067 | – | – | 213,076 |
| Anthony Noto Director | Jun 9, 2026 | Award | +9,067 | – | – | 52,365 |
| Kenneth W. Lowe Director | Jun 9, 2026 | Award | +9,067 | – | – | 1,110,108 |
| Fazal F. Merchant Director | Jun 9, 2026 | Award | +9,067 | – | – | 104,606 |
| Joseph Levin Director | Jun 9, 2026 | Award | +9,067 | – | – | 43,604 |
| Paula A. Price Director | Jun 9, 2026 | Award | +9,067 | – | – | 92,218 |
| Paula A. Price Director | Jun 4, 2026 | Discretionary | −11,046 | $27.00 | $298.24K | 83,151 |
| Amy Girdwood Chief People & Culture Officer | Apr 15, 2026 | Tax withholding | −225,624 | $27.20 | $6.14M | 801,659 |
| Paula A. Price Director | Mar 27, 2026 | Award | +1,340 | – | – | 94,197 |
| Anthony Noto Director | Mar 27, 2026 | Award | +1,063 | – | – | 43,298 |
| Jean-Briac Perrette Pres.&CEO, Global Streaming | Mar 16, 2026 | Sale | −659,120 | $27.42 | $18.07M | 1,173,723 |
| Paul A. Gould Director | Mar 16, 2026 | Sale | −600,000 | $27.35 | $16.41M | 244,357 |
| Fazal F. Merchant Director | Mar 16, 2026 | Sale | −35,000 | $27.48 | $961.80K | 95,539 |
| Debra L. Lee Director | Mar 10, 2026 | Gift | −16,345 | – | – | 66,806 |
| Priya Aiyar Chief Legal Officer | Mar 10, 2026 | Sale | −77,243 | $27.85 | $2.15M | 897,844 |
| Priya Aiyar Chief Legal Officer | Mar 10, 2026 | Option exercise | +77,243 | $11.02 | $851.22K | 975,087 |
| Priya Aiyar Chief Legal Officer | Mar 10, 2026 | Sale | −21,408 | $27.85 | $596.21K | 897,844 |
| Bruce Campbell Chief Rev & Strategy Officer | Mar 9, 2026 | Sale | −41,784 | $27.82 | $1.16M | 604,666 |
| Jean-Briac Perrette Pres.&CEO, Global Streaming | Mar 6, 2026 | Tax withholding | −43,433 | $27.95 | $1.21M | 1,832,843 |
| Gunnar Wiedenfels Chief Financial Officer | Mar 6, 2026 | Tax withholding | −43,578 | $27.95 | $1.22M | 619,802 |
| Bruce Campbell Chief Rev & Strategy Officer | Mar 6, 2026 | Tax withholding | −43,578 | $27.95 | $1.22M | 646,450 |
| Gerhard Zeiler President, International | Mar 6, 2026 | Tax withholding | −35,213 | $27.95 | $984.20K | 637,436 |
| Bruce Campbell Chief Rev & Strategy Officer | Mar 4, 2026 | Sale | −15,448 | $28.00 | $432.54K | 1,215,250 |
| Bruce Campbell Chief Rev & Strategy Officer | Mar 4, 2026 | Option exercise | +15,448 | $11.85 | $183.06K | 1,230,698 |
| Bruce Campbell Chief Rev & Strategy Officer | Mar 4, 2026 | Sale | −131,313 | $28.00 | $3.68M | 1,215,250 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Lori C. Locke Officer | Sep 14, 2026 | 29,115 | $819.00K | Sep 14, 2026 | Restricted Stock Vesting |
| Richard W. Fisher Director | Sep 11, 2026 | 6,700 | $188.00K | Sep 11, 2026 | Restricted Stock Vesting |
| Amy Girdwood Officer | Sep 9, 2026 | 262,285 | $7.34M | Sep 9, 2026 | Restricted Stock Vesting |
| Kenneth W. Lowe Director | Sep 8, 2026 | 200,000 | $5.62M | Sep 8, 2026 | Equity compensation |
| Anton J. Levy Director | Sep 3, 2026 | 340,000 | $9.65M | Sep 3, 2026 | Open Market Purchase |
| Kenneth W. Lowe Director | Sep 3, 2026 | 200,000 | $5.67M | Sep 3, 2026 | Equity Compensation |
| Perrette Jean-Briac Officer | Aug 27, 2026 | 559,184 | $16.08M | Aug 27, 2026 | Compensation Stock Award |
| David Zaslav Officer, Director | Aug 14, 2026 | 194,999 | $5.46M | Aug 14, 2026 | Stock Option Exercise |
| Fazal F. Merchant Director | Aug 13, 2026 | 71,539 | $1.99M | Aug 13, 2026 | Restricted Stock Vesting |
| David Zaslav Officer, Director | Aug 13, 2026 | 773,173 | $21.66M | Aug 13, 2026 | Restricted Stock Vesting |
| Richard W. Fisher Director | Aug 12, 2026 | 20,000 | $549.22K | Aug 12, 2026 | Restricted Stock Vesting |
| Kenneth W. Lowe Director | Aug 11, 2026 | 120,000 | $3.22M | Aug 11, 2026 | Employee Compensation |
| Gerhard Zeiler Officer | Aug 10, 2026 | 591,038 | $15.99M | Aug 10, 2026 | Restricted Stock Vesting |
| David Zaslav Officer, Director | Jul 13, 2026 | 2,184,782 | $59.47M | Jul 13, 2026 | Restricted Stock Vesting |
| Family Trust Merchant Officer | Mar 16, 2026 | 35,000 | $961.88K | Mar 16, 2026 | Restricted stock vesting under a registered plan |