Asset Dedication Cuts Disney Stake Amid Restructuring Efforts

Asset Dedication LLC reduced its stake in The Walt Disney Company (NYSE:DIS) by 31.5% during the first quarter, according to a recent Form 13F filing with the Securities and Exchange Commission.

The fund sold 5,364 shares of Disney's stock, leaving it with 11,654 shares valued at $1,123,000 as of its most recent SEC filing.

Asset Dedication LLC is not alone in adjusting its position in Disney; several other hedge funds have also made changes to their holdings in the entertainment giant during the fourth quarter. These include Swiss RE Ltd., which acquired a new position in shares of Walt Disney worth approximately $25,000; Curio Wealth LLC, which raised its holdings in Walt Disney by 110.4% and now owns 223 shares valued at $26,000; and Greenline Wealth Management LLC, which bought a new stake in Walt Disney during the fourth quarter worth approximately $26,000.

Disney's stock price has been impacted by various factors, including its restructuring efforts, which include job cuts at Pixar. The company has also reported increased revenue from its streaming business, with the entertainment giant moving from multibillion-dollar streaming losses to profitability and now pursuing international expansion.