TOKYO -- The Harvard University endowment fund, a major Toshiba shareholder, sold its shares in the company in March to a Singapore-based activist investor, according to people familiar with the transaction. The shares were acquired by 3D Investment Partners, which voted against Toshiba President Nobuaki Kurumatani and other management proposals at the 2020 shareholders meeting. With this recent purchase, 3D holds a 7.2% stake in the Japanese industrial group, making it the second-largest shareholder, up from the fifth-largest shareholder as of May 2020.