SoftBank Group's Q2 Portfolio Changes: New Stakes in Metsera and eToro, Reduced Lemonade Holding

SoftBank Group has made limited changes to its portfolio in Q2, adding new stakes in Metsera and eToro, while paring back on its holding in Lemonade. The company's investments in T-Mobile and other positions remain unchanged. The moves reflect SoftBank's strategy of diversifying its portfolio and focusing on growth opportunities.

SoftBank Group (OTCPK: SFTBF) (OTCPK: SFTBY) has made limited changes to its portfolio in the second quarter of 2025, according to its 13 filing submitted on Thursday. The company added new stakes in Metsera (MTSR) and eToro Group (ETOR), while paring back on its holdings in Lemonade (LMND) and Full Truck Alliance (YMM). These moves reflect SoftBank's strategy of diversifying its portfolio and focusing on growth opportunities.

SoftBank acquired approximately 4.82 million shares of Metsera (MTSR) valued at $137.1 million as of June 30, 2025, and nearly 398,000 shares of eToro Group (ETOR) valued at $26.5 million. Meanwhile, the company reduced its holdings in T-Mobile US (TMUS) to 63.9 thousand shares ($15.2 million) from approximately 85.4 thousand shares; Lemonade (LMND) to approximately 5.96 million shares ($261.1 million) from 10.5 million shares; and Full Truck Alliance (YMM) to approximately 2.62 million shares ($30.9 million) from 3.12 million shares [1].

These changes come amid SoftBank's broader focus on artificial intelligence (AI) and infrastructure development. The company's shares surged up to 8% on Tuesday, driven by optimism that it would capitalize on its AI focus and incorporate Foxconn Technology Group's EV plant in Ohio into its Stargate data center project with OpenAI and Oracle [2]. SoftBank's shares have been on an upward trajectory, closing at a fresh record high ahead of its earnings release, driven by a recovery at the Vision Fund and the sale of assets such as its T-Mobile US Inc. holdings [2].

The Stargate data center project, which aims to build AI hardware in the U.S., has been somewhat delayed but is now expected to see concrete talks begin soon. SoftBank is slated to invest as much as $30 billion in OpenAI and has inked a $6.5 billion deal to buy chip designer Ampere Computing Holdings [2]. The company's focus on AI hardware and infrastructure development positions it at the core of the AI revolution, with partnerships with TSMC, OpenAI, and Oracle on a $1.5 trillion AI infrastructure plan including Arizona chip manufacturing and Stargate data centers [2].

References:
[1] https://seekingalpha.com/news/4485631-softbank-adds-new-metsera-etoro-stakes-pares-lemonade-holding-among-q2-trades
[2] https://www.ainvest.com/news/softbank-shares-surge-optimism-stargate-ai-push-paypay-ipo-plans-2508/