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

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

Orlando, the former CEO of the company that took Trump Media public in a SPAC merger, and ARC, the sponsor of that merger, now hold just 30,147 DJT shares — about 0.01% of the company's common stock, according to the SEC filing.