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  "notes": "The slide uses a rhetorical question as a title to frame the data as evidence of a hidden relationship.",
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      "kind": "callout",
      "text": "Blackwells suspects ValueAct continues to manage Disney pension fund assets in 2023 and 2024",
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      "text": "(1) Includes funds managed by ValueAct’s affiliates. Source: Company filings on Form 5500, filed with the Department of Labor. Filings on Form 5500 have not yet been filed by Disney for 2023 and 2024",
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      "text": "CAN SHAREHOLDERS EVALUATE THE VERACITY AND SIGNIFICANCE OF VALUEACT’S ENDORSEMENT WITHOUT A FULL UNDERSTANDING OF THE RELATIONSHIP BETWEEN VALUEACT AND DISNEY?",
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