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Reuters

Nelson Peltz adds to Disney stake following share sale in Q1 – Bloomberg News

Trian has purchased roughly 500,000 more shares since the end of March, giving it a total of 6.4 million, the report said, citing a person familiar with Peltz’s holdings. The fund started the year with 9.4 million Disney shares, before cutting its stake by 34% by the end of March, according to the report. Billionaire Peltz ended his quest for a board seat at Walt Disney after Chief Executive Bob Iger laid out plans for cutting 7,000 jobs as part of an effort to save $5.5 billion in costs and make the company’s streaming business profitable.

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