The financial firm ARC Global Investments II and manager Patrick Orlando no longer own more than 5% of Trump Media stock, an SEC filing showed. ARC, which once held more than 11 million shares, and Orlando now hold just 0.

The financial firm reduced its stake in the Truth Social parent’s stock from more than 5% to just 0.01%, regulatory filings show.

A major shareholder has unloaded nearly its entire stake in President-elect Donald Trump's social media company. ARC Global Investments II said in a regulatory filing that it held just 30,147 shares of Trump Media & Technology Group Corp., amounting to about 0.01 percent of the company's common stock, CNBC reported Friday.

ARC Global Investments, a major investor in Trump Media & Technology Group (NASDAQ:DJT), has drastically reduced its stake in the company. What Happened: According to a regulatory filing on Friday, ARC Global and its manager,

ARC's current stake is just 30,147 shares of Trump Media after owning more than 11 million shares in September.

(Reuters) - Trump Media & Technology Group's key shareholder, ARC Global Investments, has unloaded nearly all its stake in the media company, it said in a regulatory filing on Thursday. ARC and its manager Patrick Orlando now hold about 0.01% stake, down from more than 5% or over 11 million shares in September.