Billionaire Activist Investor Nelson Peltz Sells Full Disney Stake

Core Viewpoint - Billionaire activist investor Nelson Peltz has sold his entire stake in Disney, following a failed proxy battle against the company, marking a significant exit from his investment [1][2]. Group 1: Investment Details - Peltz's selloff occurred at market close on Wednesday at a price of $120 per share, resulting in an estimated profit of about $1 billion from the position [2]. - Despite Peltz's exit, Trian Fund Management, his hedge fund, remains one of Disney's largest institutional investors with a 1.7% stake valued at approximately $3.2 billion [2]. Group 2: Market Performance - Disney's market capitalization stands at $183.9 billion, and the stock closed down 1.5% on Wednesday at $100.88, continuing a decline of nearly 9% over the past three months [2]. - The share price of Disney has decreased from a peak of around $122 in early April to its current trading price of approximately $100 [5]. Group 3: Background Context - Peltz initially launched a proxy battle against Disney early last year but paused after CEO Bob Iger announced a restructuring plan aimed at saving the company $5.5 billion [5]. - Peltz renewed his activist campaign in November, focusing on Disney's earnings growth, which led to a temporary increase in share price before the recent decline [5].