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U.S. activist hedge fund Third Point LLC has sold most of its stake in Sony Corp., according to documents submitted to the U.S. Securities and Exchange Commission.

While Third Point owned 675,000 shares in the Japanese electronics and entertainment conglomerate as of March 31, there were no references to the possession of Sony shares in the documents as of June 30.

Since companies are not required to report holdings of fewer than 10,000 shares in the documents under SEC rules, Third Point has either greatly reduced its stake in Sony or else unloaded all of its shares in the Japanese company.

The hedge fund’s most recent acquisition of Sony shares became known to the public in April 2019.

Although Third Point called on the manufacturer last year to spin off its semiconductor segment and list it in Japan so as to focus more on its entertainment business in the gaming, movies and music sectors, Sony said last September that it had rejected the proposal.

Third Point, run by U.S. investor Daniel Loeb, expressed disappointment in Sony’s decision at the time.

While holding a stake in Sony previously, the fund urged it in 2013 to sell a stake in its lucrative entertainment business to raise capital and shore up its loss-making electronics business. Sony rejected the proposal at the time, and Third Point later sold its stake in the company.

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