TOKYO -- Third Point, the hedge fund that tried to push Sony to spin off its entertainment business, no longer ranked among its 10 biggest shareholders as of Dec. 31, a quarterly disclosure shows.
Activist investor Daniel Loeb's fund had held a 1.64% stake as of Sept. 30. But it was not listed as a major shareholder in Sony's third-quarter filing with Japanese financial regulators.
Third Point's investment stance on Sony has not changed, the fund told The Nikkei on Tuesday, without mentioning the size of its stake. Sony said it does not comment on specific investors' holdings.
Third Point revealed last May that it had taken a roughly 6% stake in Sony. The following month, it said its position had grown to around 7%.