According to a recent regulatory filing, ARC Global Investments, a key shareholder in Trump Media & Technology Group (DJT.O), has significantly reduced its holdings in the company. Previously holding more than 5% of the company’s shares, ARC and its manager, Patrick Orlando, now possess a mere 0.01% stake.

  • Significant Reduction: ARC Global’s stake drop from over 11 million shares to a negligible percentage marks a major divestment.
  • Background on Patrick Orlando: Orlando, who played a pivotal role in taking Trump Media public through the blank-check company Digital World Acquisition, was removed as CEO before the deal’s closure.
  • Legal Rulings: A Delaware judge ruled in September that Trump Media had breached an agreement with ARC Global. As a result, the fund was entitled to receive more than half a million additional shares before restrictions on insider sales were lifted.
  • Ownership Structure: U.S. President-elect Donald Trump maintains a significant presence in the company, owning nearly 115 million shares, which equates to almost 53% of Trump Media. The company is known for owning the social media platform Truth Social.

This substantial sale by ARC Global could indicate shifting strategies or responses to internal dynamics within Trump Media & Technology Group.