President Trump’s latest disclosures show he sold shares of Walt Disney (NYSE:DIS) and Rockwell Automation (NYSE:ROK) in July, and did not buy either stock. Insider Monkey’s proprietary database of billionaire investors also shows that both stocks lost billionaire holders in the second quarter of 2026. Disney dropped from 33 billionaire holders to 28, and Rockwell Automation dropped from 23 to 17.
Trump’s disclosures, filed on September 22, show five sales of Disney stock between July 8 and July 27 and no purchases. The largest sales were in the $15,001 to $50,000 range. In Insider Monkey’s database, the number of billionaire-led funds holding Disney fell by 5 in the second quarter, from 33 to 28. That is one of the biggest drops among widely held stocks.
Rockwell Automation makes industrial automation equipment and software that factories use to run their production lines. Trump’s disclosures show two sales and no purchases. The number of billionaire-led fund shareholders dropped by 6 in the second quarter, from 23 to 17.
ROK was among the best industrial automation stocks to buy according to Insider Monkey coverage earlier this year.
Pixabay/Public Domain
Why Sell Disney?
The Walt Disney Company has lost 40% over the past five years, and the stock is still not cheap. Investors pay a premium for Disney even though its growth has slowed.
Valuation
DIS trades at 15.26 times forward non-GAAP earnings, a 16.76% premium to the sector median of 13.07. On trailing non-GAAP earnings, the multiple is 16.58 against 13.20 for the sector, a 25.55% premium. On GAAP earnings, DIS trades at 21.83 times trailing earnings, a 32.76% premium to the sector’s 16.44.
Macro Impact
Higher rates also hit Disney’s customers. When households tighten their budgets, theme park trips and streaming subscriptions are some of the first things to go.
Bull Case for DIS
Disney owns characters and stories that feed every part of the company. A hit film lifts streaming, consumer product sales, games, and park visits at the same time. Management is now combining Disney+, Hulu, and ESPN into one streaming service, which should raise engagement and make the bundle easier to sell. The parks and cruise business is the profit engine. Its revenue growth sped up to 10% in the fiscal third quarter. Cruise capacity keeps growing. Management guided fiscal 2026 adjusted EPS growth of 16% (including the extra week) and double-digit EPS growth in fiscal 2027.
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