Activist investor Nelson Peltz has sold his entire stake in Disney, a person familiar with the matter tells CNBC.
Peltz sold all of his Disney stock at roughly $120 a share, the person said, making about $1 billion on the position. The stock currently trades for about $100 per share.
The exit comes weeks after Peltz’s Trian Partners lost a proxy battle at Disney in early April as shareholders reelected the company’s full slate of board nominees.
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