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According to sources cited by CNBC, Peltz’s firm liquidated its entire Disney stake just weeks after losing a proxy fight aimed at gaining seats on Disney's board. The sale reportedly resulted in a profit of about $1 billion, as the shares were purchased earlier at roughly $80 to $90. This implies that Peltz and Trin reaped a substantial return—highlighting a successful, if temporary, investment strategy.
The timing of this sell-off is noteworthy. Peltz's firm exited after the record date for shareholder voting but before the actual shareholder meeting, thereby avoiding the obligation to hold shares for voting purposes. The decision to liquidate at a high point suggests a strategic move to lock in gains, particularly since Disney’s stock was trading close to the $120 mark.