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      "text": "+17% average annualized absolute TSR across positions from Trian's involvement through year-end 2023 vs. -1% during the 5 years prior",
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      "text": "We believe it is important to measure performance from the time of Trian's involvement through Nelson Peltz's board tenure and beyond.",
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      "text": "Disney has used a methodology for evaluating Trian investments that we view as flawed for many reasons.",
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      "text": "Source: FactSet. Note: Represents the annualized absolute Total Shareholder Return (\"TSR\") performance at each company...",
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