Japanese holding company SoftBank has offloaded shares of U.S. technology giants such as Facebook (NASDAQ:FB), Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL)and Netflix (NASDAQ:NFLX), according to its latest financial results.
The Tokyo-based conglomerate invests in publicly listed shares through its "SB Northstar" trading unit and provides a breakdown of the unit’s portfolio in its quarterly results.
Facebook, Microsoft, Alphabet and Netflix were included in SB Northstar’s portfolio at the end of March but were absent from the list at the end of June, suggesting a reduction or a complete sale of the holdings.
At the end of March, SoftBank had $3.1 billion U.S. of Facebook shares, $1 billion U.S. of Microsoft shares, $575 million U.S. of Alphabet shares and $382 million U.S. of Netflix shares. But all four were unlisted in SoftBank’s June report.
SoftBank also reduced the size of its stake in Amazon from $6.2 billion U.S. to $5.6 billion U.S., according to the filings. In all, SB Northstar held stakes in firms worth $13.6 billion U.S. at the end of June, down from $19 billion U.S. at the end of March.
SoftBank’s overall net profit for its fiscal first quarter fell 39% year-over-year to $6.9 billion U.S. as Chinese regulators cracked down on Alibaba (NYSE:BABA), its biggest holding, and other companies in the portfolio such as Didi.
The SoftBank Vision Fund, a dedicated technology investment fund, posted a $2.1-billion U.S. profit as companies in the portfolio listed on stock markets around the world.
Tech Insider
