Key Takeaways
- SoftBank completely divested from Uber (UBER), Circle Internet Group (CRCL), and Lemonade (LMND) during the first quarter of 2025.
- The Tokyo-based investment powerhouse dramatically reduced its T-Mobile (TMUS) holdings, dropping from 28.5M shares down to 10M shares.
- SoftBank modestly decreased its Neumora Therapeutics (NMRA) holdings, moving from 6.43M to 6.09M shares.
- The company initiated a fresh investment in insurance technology firm Ethos Technologies (LIFE), purchasing 3.13M class A shares.
- These transactions were disclosed through SoftBank’s most recent 13F regulatory filing covering the period through March 31.
SoftBank Group’s most recent 13F regulatory document reveals a sweeping reorganization of its American stock holdings during the first quarter ending March 31, 2026.
The Tokyo-based investment powerhouse completely liquidated three separate holdings: transportation network company Uber (UBER), cryptocurrency payments platform Circle Internet Group (CRCL), and insurance technology startup Lemonade (LMND). These exits represent a complete withdrawal from several high-profile American technology investments.
Simultaneously, SoftBank established a new stake in Ethos Technologies (LIFE), acquiring 3.13 million class A shares of the life insurance brokerage platform. While modest in absolute dollar value, this investment indicates the company’s evolving strategic priorities.
The most dramatic adjustment involved T-Mobile (TMUS). SoftBank dramatically downsized its position from 28.5 million shares to just 10 million — representing a reduction exceeding 64%. This marks a substantial pullback from a company SoftBank has maintained ties with for years following its historical Sprint ownership.
Massive T-Mobile Reduction Draws Attention
The T-Mobile divestment represents the most significant numerical change in the filing. Reducing holdings from 28.5M to 10M shares constitutes a deliberate, substantial pullback rather than routine portfolio maintenance.
SoftBank’s relationship with T-Mobile dates back to its Sprint ownership days, making this aggressive reduction particularly noteworthy. The move likely signals capital reallocation toward other opportunities — potentially in artificial intelligence or emerging technology ventures, which align with the firm’s current strategic emphasis.
Neumora Therapeutics (NMRA), the neuroscience-oriented biotechnology company, experienced a modest decrease from 6.43M to 6.09M shares. This smaller adjustment appears more consistent with routine portfolio optimization rather than a strategic withdrawal.
Fresh Investment in Ethos Technologies
The newly established stake in Ethos Technologies (LIFE) represents the filing’s most forward-thinking element. Ethos operates as a digital-first life insurance platform, and SoftBank’s acquisition of 3.13 million class A shares establishes it as a notable shareholder.
This investment aligns with SoftBank’s established strategy of supporting technology-driven innovators challenging traditional industries — the same investment philosophy behind earlier positions like Lemonade, which has now been completely exited.
SoftBank Group maintains a market capitalization of roughly $208.53 billion. Its price-to-earnings ratio stands at 8.61x, positioned below broader market averages.
13F Filing Breakdown
The firm’s GF Score registers at 71/100, indicating strong growth characteristics — its growth ranking reaches 8/10. Financial strength metrics, conversely, score just 4/10, highlighting significant debt obligations and limited interest coverage capacity.
No insider transactions—either purchases or sales—have been documented during the preceding 12-month period.
The regulatory filing encompasses holdings as of March 31, 2026 and received public disclosure on May 15, 2026.
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