Today, SMIF heard from Haley Calkins, who proposed to add Disney to the Consumer Discretionary sector. Founded in 1923, Disney has grown into a multimedia giant, with revenues deriving from media networks, studio entertainment, and theme parks and resorts. Haley noted that SMIF currently has active risk by not holding Disney; the company currently makes up .80% of the S&P 500 index. Haley made a point to note that Disney is far more diversified than its competitors; though Disney competes with companies such as Comcast, Fox, and Time Warner, none of these companies operate in as many industries as Disney. Haley believes this is the real benefit of the Disney brand – the company is able to generate intellectual property through the creation of movies and media, and then further generate profits from these creations in their theme parks, merchandise, and licensing. She motioned to purchase 230 shares of Disney, funded by the sale of XLY Consumer Discretionary ETF. The motion passed unanimously.