Bass Clan Still Has 3% of Disney Stock

Members of the Bass family of Fort Worth have retained nearly 3% of Walt Disney Co.’s stock after selling a 135-million-share block of Disney shares last week.

Sid and Lee Bass still hold about 60 million Disney shares, according to a filing with the Securities and Exchange Commission.

The Bass family, one of Disney’s largest shareholders for nearly 20 years, sold the block of shares to raise cash, partly to cover margin calls from its brokers amid a tumbling stock market.

The Bass family sold the block to the investment firm Goldman, Sachs & Co., which quickly resold them to a variety of institutional investors and to Disney. Disney bought 50 million of the shares as part of a plan to repurchase as many as 386 million shares.