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　　according to reports, US hedge fund Elliott Management sold almost all of its shares in Japan's SoftBank. It was another sign that investors were uneasy about the fate of the world's largest technology investment group.

　　Elliott has decided to end years of investment and support for SoftBank, people familiar with the matter said. Previously, the company held as much as $2.5 billion in SoftBank shares. Elliott’s move was driven by a loss of confidence in SoftBank’s billionaire founder, Masayoshi Son, and his ability to bridge the huge gap between the actual value of SoftBank’s holdings and the company’s market value, a person familiar with the matter said.

　　Elliott manages about $56 billion in assets. The exact size and timing of Elliott's SoftBank stake sale is unclear. The sales occurred earlier this year when tech stocks, including SoftBank, suffered a massive sell-off, the sources said.

　　Elliott declined to comment on the news.

　　In February 2020, Elliott first disclosed that he held a $2.5 billion stake in SoftBank. But last year Elliott sold a large SoftBank stake at a profit, according to people familiar with the matter.

　　For SoftBank, Elliott's near-complete liquidation of its stock is another blow. SoftBank previously said it would slash costs and sell its Alibaba stake in a historic deal to deal with growing business pressure.

　　Last week, SoftBank reported a record quarterly loss of $23 billion. Son said he was "ashamed" of the performance. SoftBank stock has fallen 10% over the past year and is 45% below its March 2021 all-time high.

　　SoftBank's website shows that if investors value the company based on the company's net asset value, then SoftBank's reasonable share price should be about twice the current 5,900 yen per share. Elliott had previously invested in SoftBank because he believed it could close the gap through share buybacks, improved corporate governance and asset sales.

　　Elliott was already disappointed that SoftBank did not initiate a new round of share buybacks before starting the sale of SoftBank shares, according to media reports in November. Other investors share the same concerns. Instead, Son has opted to continue his investment business, pouring billions of dollars into early-stage companies.

　　At the time, Elliott had urged Son to find ways to boost SoftBank’s stock price through buybacks and improve corporate governance. Elliott's investment in SoftBank was led by Gordon Singer. He is the head of Elliott's London office and the son of founder Paul Singer.

　　SoftBank's shares tumbled in March 2020, when concerns about the outbreak peaked. Media reports at the time said Elliott discussed taking SoftBank private in an emergency weekend meeting, but in the end SoftBank launched a $41 billion asset disposal program and a $23 billion share buyback program. Elliott increased his investments around the time of the slump in SoftBank shares, which also rose from 2,687 yen in March 2020 to a high of 10,635 yen in March 2021.