SoftBank Trims Tech Portfolio

This article first appeared on GuruFocus.

SoftBank Group (SFTBY, Financials) reshaped its U.S.-listed holdings in the first quarter, exiting positions in Uber, Circle Internet and Lemonade, according to its latest 13F filing.

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The Japanese investment firm also reduced its T-Mobile US stake to 10 million shares from 28.5 million shares at the end of the prior quarter.

At the same time, SoftBank started a new position in Ethos Technologies, buying 3.13 million class A shares.

The moves show SoftBank continuing to adjust its portfolio after a strong run in technology and growth stocks. For investors, the filing offers a closer look at where the firm is taking profits and where it is still finding new opportunities.

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