What smart money is saying about Walt Disney Company
9 funds in our archive have pitched Walt Disney Company, most recently PM Capital Global Companies Fund, Australian Companies Fund & Enhanced Yield Fund in September 2026.
Operating worldwide through its various subsidiaries, The Walt Disney Company (DIS) stands as a prominent global entertainment enterprise. Its vast array of activities is organized into two primary divisions: Disney Media and Entertainment Distribution, and Disney Parks, Experiences and Products. Within its media and entertainment arm, Disney is actively engaged in developing and distributing both cinematic films and television series. This segment encompasses the management of well-known broadcast networks such as ABC, Disney, ESPN, Freeform, FX, Fox, National Geographic, and Star, as well as renowned film studios responsible for productions under banners like Walt Disney Pictures, Twentieth Century Studios, Marvel, Lucasfilm, Pixar, and Searchlight Pictures. The company also delivers content directly to consumers through its popular streaming platforms, including Disney+, Disney+ Hotstar, ESPN+, Hulu, and Star+. Further activities involve licensing its film and television content to external broadcasters and subscription video-on-demand services, overseeing theatrical releases, home entertainment distribution, and music distribution, staging and licensing live entertainment spectacles, and offering specialized post-production services via Industrial Light & Magic and Skywalker Sound. The "Parks, Experiences and Products" segment manages a celebrated collection of global theme parks and resorts, which notably includes Walt Disney World Resort in Florida, Disneyland Resort in California, Disneyland Paris, Hong Kong Disneyland Resort, and Shanghai Disney Resort. This division also features the Disney Cruise Line, Disney Vacation Club, National Geographic Expeditions, Adventures by Disney, and Aulani, a resort and spa located in Hawaii. The company extends its brand presence by licensing its intellectual property to a third party for the operations of the Tokyo Disney Resort. A substantial part of this segment involves consumer products, where Disney licenses its iconic trade names, characters, visual elements, literary works, and other intellectual property for use on a diverse range of merchandise, published materials, and games. Moreover, it sells branded merchandise directly through its retail stores, online platforms, and wholesale channels, and actively develops and publishes various books, comic books, and magazines. The Walt Disney Company was founded in 1923 and is based in Burbank, California.
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Fund signal · last 12 months
17 lettersFunds are split between buying and selling
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q4 2024 and Q3 2026, 21 fund letters reported a position in Walt Disney Company, with 3 buys (opened or added) and 5 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 13 | 1 | 2 | 1 |
| Q2 2026 | 2 | 0 | 1 | 2 |
| Q1 2026 | 2 | 2 | 0 | 2 |
| Q3 2025 | 1 | 0 | 0 | 1 |
| Q2 2025 | 1 | 0 | 0 | 2 |
| Q1 2025 | 0 | 0 | 0 | 1 |
| Q4 2024 | 2 | 0 | 2 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 21 positions · 8 moves
- September 2026
“We exited positions in Cisco Systems in IT, Stryker in health care, Ferguson, Honeywell International and Honeywell Aerospace in industrials, Space Exploration Technologies, Walt Disney and T-Mobile in communication services and International Paper in materials.”
Walt Disney Company - September 2026
“In July and August, there were tentative signs of improved Fund performance, with both months registering positive absolute returns and outperformance versus the benchmark index. The better performance was supported, if not endorsed, by a large majority of the Fund’s investee companies posting encouraging quarterly or full year results, exhibiting growing revenues and profits – some in excess of the market’s expectations. This included Disney, Alphabet, Heineken, SAP, London Stock Exchange Group (LSEG), Mondelez, Unilever, RELX, Shiseido and TKO.”
Walt Disney Company - September 2026
“What is eternal are things like people wanting to be entertained (e.g., Disney, Nintendo, Spotify), not wanting to waste time (e.g., Howdens, Ferguson, Copart), and wanting to do business with reliable and trustworthy partners (e.g., Markel, Hingham Institution for Savings, Old Dominion Freight Line). I believe each of our holdings, to varying degrees, serves eternal needs and delights its customers.”
Walt Disney Company - September 2026
“We exited our position in Disney, which was the result of greater conviction in other areas of the portfolio.”
Walt Disney Company - September 2026
Listed in Cooke & Bieler Large Cap Value Equity Strategy’s reported holdings.
Walt Disney Company - September 2026
“This included Disney, Alphabet, Mondelez and TKO.”
Walt Disney Company - September 2026
“Becton Dickinson (BDX), a manufacturer of a broad portfolio of medical supplies, devices, and diagnostics, was the second-largest contributor. The stock’s valuation responded favorably to better than expected quarterly results, highlighted by accelerating organic revenue growth, broad-based strength across BDX’s expansive portfolio, and dissipating headwinds in several end markets that had suppressed recent growth rates. Walt Disney (DIS), a global leader in entertainment, sports, and leisure experiences, operating through iconic brands such as Disney, ESPN, Pixar, Marvel, and Star Wars, was the third-largest contributor.”
Walt Disney Company - September 2026
“Largest Contributors Becton Dickinson (BDX), a manufacturer of a broad portfolio of medical supplies, devices, and diagnostics, was the largest contributor. The stock’s valuation responded favorably to better than expected quarterly results, highlighted by accelerating organic revenue growth, broad-based strength across BDX’s expansive portfolio, and dissipating headwinds in several end markets that had suppressed recent growth rates. ConocoPhillips (COP), one of the largest international E&P companies with a scaled and well-diversied portfolio of assets, was the second-largest contributor. The stock beneted from higher commodity prices and solid quarterly results, including disciplined operating costs and strong cash ow generation. COP's large, low cost of supply resource base and diversied portfolio across conventional and unconventional assets position it well to generate resilient cash ows through commodity cycles. Management expects free cash ow to grow meaningfully over the next several years as capital and operating costs decline and its LNG projects and Willow come online, supporting continued dividends and share repurchases. Walt Disney (DIS), a global leader in entertainment, sports, and leisure experiences, operating through iconic brands such as Disney, ESPN, Pixar, Marvel, and Star Wars, was the third-largest contributor.”
Walt Disney Company - September 2026
“PM Capital has built a position in Walt Disney (NYSE: DIS), the owner of the deepest intellectual property library in entertainment.”
Walt Disney Company - HoldsAllan Gray Quarterly Commentary Vol. 3September 2026
Listed in Allan Gray Quarterly Commentary Vol. 3’s reported holdings.
Walt Disney Company - August 2026
“Disney (+12%) rounded out the top contributors, with a strong earnings update early in the month highlighting continued momentum across its direct-to-consumer and parks segments.”
Walt Disney Company - July 2026
Listed in Lindsell Train Global Equity Fund’s reported holdings.
Walt Disney Company - July 2026
Listed in WS Lindsell Train North American Equity Fund’s reported holdings.
Walt Disney Company - ExitedRGA Investment Advisor Investment PortfolioJune 2026
“In aggregate, we funded these acquisitions with the sale of Lattice Semiconductor, Disney and Workday, as well as a modest trim from our Alphabet position.”
Walt Disney Company - HoldsCamissa Asset ManagementJune 2026
“Our global fund clients hold Disney as we believe its share price vastly undervalues its strong prospects.”
Walt Disney Company - New positionAntipodes Global Value FundMarch 2026
“Walt Disney (Entry): The market is extrapolating the structural decline of linear TV across the whole business, ignoring two segments performing strongly.”
Walt Disney Company - New positionKNA CapitalFebruary 2026
“In the second half of February, I added two new investments: Disney and Chemed.”
Walt Disney Company - August 2025
“The deal represents a ~2.1x uplift on the current one with Disney, and as part of the agreement, the pay-per-view arrangement for numbered events has been eliminated.”
Walt Disney Company - HoldsTitan Wealth Global Blue ChipJune 2025
Listed in Titan Wealth Global Blue Chip’s reported holdings.
Walt Disney Company - December 2024
“We eliminated the following position(s) during the period: • Altria • eBay • Goldman Sachs • Salesforce • Truist Financial • Walt Disney”
Walt Disney Company - December 2024
“We exited our investment during the quarter.”
Walt Disney Company
Also mentioned · 6
These funds discuss Walt Disney Company as a competitor, benchmark or comparable, without disclosing a position in it.
- MentionedTroy Multi-Asset StrategyOctober 2026
“The price is not always right Some of the best equity investment opportunities lie in good businesses that have suffered from long de-ratings of their valuations. Investors simply re-appraise the value of the earnings. This can happen suddenly if the profit outlook changes, as profit warnings are rarely greeted with enthusiasm. But what of companies with stable and consistent returns where earnings are reliable and growing over time? The best example of a de-rating was the peak valuations of the Nifty 50 stocks in the early 1970s. These so-called ‘one decision’ stocks de-rated from extreme valuations in an era of inflation and rising interest rates. Market darlings, like McDonald’s and Walt Disney, fell from ~80x earnings to mid- teens valuation multiples over two years, which led to share price falls of over 70%.”
Walt Disney Company - September 2026
“We own FuboTV. You may still think of Fubo as a niche sports television service. It was, and its namesake service is. In October 2025, Disney combined Hulu + Live TV with FuboTV and took an approximately 70% interest in the combined operations.”
Walt Disney Company - September 2026
“Case study: TKO versus Disney The Endeavour Fund has been an investor in TKO Group, the founder-run owner of the UFC and WWE, since September 2024. We think its performance compared with Disney illustrates our approach.”
Walt Disney Company - MentionedScharf Investments Quality Value StrategyJune 2026
“We believe that Disney, Agilent, and Otis, among others, similarly offer Q2 2026 | 5 Investing in Amazon”
Walt Disney Company - MentionedBurke Wealth Management Focused Growth StrategyJune 2026
“Remember when OpenAI launched the video creation tool Sora last Fall? Shortly after the launch, they signed a licensing deal with Disney and analysts hailed Sora as a competitor to Meta for consumer engagement.”
Walt Disney Company - MentionedAttitude Sherpa, FIJune 2026
“I have seen people buy the best companies in the world – Coca-Cola, Gillette, Disney – at 50, 60, 70 times earnings because they were convinced that their growth would never end.”
Walt Disney Company
Fund coverage · 9 theses
Walt Disney owns an irreplaceable IP library monetised across parks, consumer products and streaming, and trades at the bottom of its valuation range despite strong business quality.
Read the full thesis- Camissa Asset ManagementJune 2026
Disney owns a deep library of characters and franchises that it monetises across films, streaming, parks and merchandise, and the breadth of that library plus the profitability of Experiences support continued value creation that the share price undervalues.
Read the full thesis - PM CapitalJune 2026
Walt Disney is valued below the quality of its IP-driven assets and has attractive earnings and free cash flow growth potential.
Read the full thesis - Antipodes Global Value FundMarch 2026
Walt Disney is a diversified media and entertainment company with strong streaming and Experiences growth, plus valuation upside.
Read the full thesis - KNA CapitalFebruary 2026
The Walt Disney Company owns irreplaceable nostalgia-driven IP with strength in its Experiences segment and new leadership that could improve performance from a fair entry price.
Read the full thesis - RiverPark Large Growth FundSeptember 2025
Disney is a high-quality EPS compounder with strong growth potential from its DTC segment and successful Experiences business.
Read the full thesis - Lindsell Train Global Equity FundJune 2025
Disney is transforming its video and film distribution to streaming, growing its subscriber base and profitability while launching a direct-to-consumer ESPN product for live sports.
Read the full thesis - Ariel Global FundJune 2025
Walt Disney Company is a strong investment opportunity due to a recent stock pullback, expected growth in Disney+ subscribers, increased revenue per user, margin improvements in streaming, and successful licensing leading to significant operating income growth.
Read the full thesis - Clearbridge Value StrategyMarch 2025
Walt Disney is positioned for growth as it shifts focus to improving profitability and margins in its streaming service, which we believe will lead to better earnings than currently expected.
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