Activist investor Nelson Peltz is making a second attempt to secure a seat on the board of Walt Disney. Peltz's Trian Fund Management has recently increased its stake in Disney to over $2.5 billion, and sources suggest that he will request multiple board seats, including one for himself. This move marks a return to the offensive for Peltz, who initially criticized Disney earlier this year for its costs and demanded a board seat.

Peltz's first campaign came to an end after Disney CEO Bob Iger announced a $5.5 billion cost-cutting plan that involved significant layoffs. At the time, Peltz stated that the company was taking the necessary steps. However, Disney's stock performance has since been disappointing.

As of Monday's premarket trading, Disney shares were up by 0.2% at $83.04. Year-to-date, the stock has experienced a decline of 4.5% and has dropped significantly from its previous levels of over $100 when Iger initially unveiled the cost-cutting plan.

Trian believes that Disney's stock is undervalued and that the company requires a more focused board. In recent months, Trian has increased its stake to more than 30 million shares, up from roughly 6.4 million shares at the end of the second quarter. While Peltz's push indicates a desire for change, it does not immediately suggest any major alterations such as spinning off ESPN and ABC.

Neither Trian nor Disney have responded to requests for comment as of Monday morning.

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