In its most recent Form 13F filing, SG Americas Securities LLC disclosed a 99.9% reduction in its position in The Walt Disney Company, selling 2,633,574 shares during the third quarter and retaining just 3,710 shares. The remaining holding was valued at approximately $425,000 at quarter end, reflecting a dramatic shift in the firm’s exposure to Disney after previously maintaining a multi-million-share stake.

Several leading investment firms reported changes to their Disney holdings in the second quarter. Vanguard Group increased its stake by 1.1%, adding 1,639,123 shares to reach 157,501,484 shares valued at nearly $19.5 billion. State Street Corporation boosted its position by 0.8%, acquiring 625,893 shares for a total holding of 79,643,043 shares worth roughly $9.9 billion. Geode Capital Management added 458,077 shares (1.2%), bringing its total to 39,992,231 shares valued at about $4.9 billion. Norges Bank established a new position valued at approximately $2.6 billion, while Jennison Associates grew its stake by 9.4%, purchasing 1,774,772 shares for a total of 20,676,921 shares valued near $2.6 billion. Together, these institutional investors continue to represent over 65% of Disney’s outstanding stock.

Disney reported third-quarter revenues of $22.46 billion, a 0.5% decline from the prior year period, and delivered earnings per share of $1.11, beating consensus by $0.08. The company achieved a net margin of 13.14% and a return on equity of 9.37%. While content and streaming segment revenue showed continued growth, linear network advertising revenues remained soft, exerting downward pressure on total top-line performance.

Disney’s board approved a quarterly dividend of $0.75 per share, payable on July 22 to shareholders of record as of June 30. This dividend carries a payout ratio of approximately 21.9% relative to trailing earnings, signaling management’s commitment to returning capital even as the company invests heavily in new content and park expansions.