in this photo illustration paramount paramount plus logo is seen on a smartphone against its website in the background shares of paramount global jumped tuesday after warren buffetts berkshire hathaway revealed a new stake in the media company berkshire bought 689 million shares of paramount to build a stake worth 26 billion as of the end of march according to a regulatory filing released monday paramount was berkshires 18th largest holding at the end of the first quarter the new stake adds another streaming property to berkshires portfolio whose top holding is apple the media company in february rebranded from viacomcbs to paramount in a move to emphasize its flagship paramount streaming service while paramount missed earnings expectations in its latest quarterly report paramount added 68 million subscribers in the first quarter paramount shares are beating the market this year down 72 versus the sp 500s 149 decline it is unclear if the purchase of paramount shares came from buffett or one his investing deputies todd combs and ted weschler combs and weschler independently manage roughly 30 billion of the conglomerates equity portfolio in recent years berkshire bought a slew of technology names including apple and activision under their influence berkshire also added new stakes in hp and citigroup during the first quarter among other changes to its equity portfolio