UPDATE – SA: SoftBank exits 24 companies (inc. AMZN, GOOG & TSLA)... or does it?

(UPDATE, 16 Nov: for the sake of accuracy, the original headline sourced from an independent third party under our “Worth a Read” section – it read: “SA: SoftBank exits 24 companies (inc. AMZN, GOOG & TSLA)” – was amended on 16 November @ 5.30pm GMT in order to reflect the latest developments concerning SoftBank’s portfolio. We apologise for any inconvenience caused.)

SEEKING ALPHA reported on 15 November:

– Masayoshi Son’s SoftBank Group reported Sept. end total portfolio value of $12.92B, sharply down from $17.52B at the end of the June quarter.

– SoftBank had reduced its holding to just 4 companies (…) at the end of Q2.

– Notable exits include Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOG), Adobe (NASDAQ:ADBE), Netflix (NASDAQ:NFLX), Microsoft (NASDAQ:MSFT) and Tesla (NASDAQ:TSLA).

Right or wrong? 

To read the full post, please click here – the comment thread is worth a look.

UPDATE 1 (15 Nov): One key, relevant comment is here (by Hhry528… emphasis in bold added):

“This article is very misleading. As reported in its last earnings, SoftBank Group Corp. created a new subsidiary to trade listed stocks. This reported portfolio does not include that new subsidiary which reports its own portfolio separately (same as the Vision Fund). It does not mean SoftBank Group exited all, but the company holding the positions just changed (though of course there are also changes in the composition quarter to quarter and it was reported that the new subsidiary made a loss).

“Lemonade is not new, it just did IPO in the last quarter. Also Line was acquired by SoftBank Corp., the telecom arm (independant from SoftBank Group), in a TOB with Naver in relation to a business integration between Z Holdings and Line announced 1 year ago. This has nothing to do with trading activities. When you exclude all that, the portfolio held outside of the investment funds is basically TMUS. Keep yourselves informed if you want to discuss investments…”

UPDATE 2 (16 Nov): When asked on Seeking Alpha to comment regarding the accuracy of the filings, Hhry528 explained the SEC filing was indeed correct, but:

“The scope is not including the investment funds. It is written in the form itself that SB Northstar (the new subsidiary that took over trading in listed stock from the summer) and SB Investment Advisory (Vision Fund) are filling their own forms separetely. Anyway SoftBank Group clarified its current portfolio in its last financial statements and earnings results a full week ago. Excluding TMUS, Line and Lemonade that are not trading activities, there are still a dozen names with total value of USD 16 billion (as of Sep. 30). If you want to better understand just wait for SB Northstar…”

More here.

Now read this: “How SoftBank’s Vision Fund turned losses into gold this summer“.

This: “SoftBank CEO Masayoshi Son racked up a $3.7 billion loss trading daily moves in tech stocks”.

This: “We’re ‘very actively involved’ in talks with firms about relocating to Abu Dhabi“.

This: “Sales readiness platform MindTickle raises $100m led by SoftBank Vision Fund 2“.

And this: “Grofers to raise over $55m from SoftBank“.