SoftBank Slashes T-Mobile by $3.69B
This is an AI analysis of an interesting pattern in QuantyFight data derived from SEC 13F holdings: SoftBank Group Corp.’s disclosed U.S. long book shows a sharp reduction in T-Mobile US (TMUS) — one of the largest single-position dollar decreases in the latest institutional dollar-decrease leaderboard.
What changed in SoftBank’s TMUS line
SoftBank Group Corp. (CIK 1065521) appears on QuantyFight’s hedge movement dollar-decrease leaderboard for Q1 2026 versus Q4 2025. The TMUS line moved from 28,503,696 shares to 10,000,000 shares. On QuantyFight, that share reduction is valued at roughly −$3.69 billion (dollar move −$3,687,090,436) on QuantyFight’s Q1 2026 vs Q4 2025 movement row.
That is not a full exit. SoftBank still reports 10 million TMUS shares, valued at about $2.10 billion on the Q1 2026 holdings snapshot (accession 0001062993-26-002663) — still 18.41% of SoftBank’s disclosed long book on QuantyFight.
But the scale of the trim is unambiguous: about two-thirds of the prior share count came off in one quarter.
SoftBank × TMUS — QuantyFight position change
Source: QuantyFight · Hedge movement · SoftBank / TMUS dollar decrease · Q1 2026 vs Q4 2025
| Field | Q4 2025 (prior) | Q1 2026 | Change |
|---|---|---|---|
| Shares | 28,503,696 | 10,000,000 | −18,503,696 (−64.9%) |
| Dollar move | — | — | −$3.69B |
| % of SoftBank disclosed book | ~37.42% (Q4 value) | 18.41% | −32.31% AUM impact |
| % of TMUS cap change | — | — | −1.49 pp |
| Remaining TMUS value | — | ~$2.10B | 18.41% of SoftBank book |
| Sector / industry | Telecommunications · Telecommunications Equipment | ||
Why this cut stands out on QuantyFight
On QuantyFight, SoftBank’s TMUS reduction is among the largest dollar position decreases in the hedge-movement dollar-decrease leaderboard for Q1 2026 vs Q4 2025. Full-universe absolute ranks can shift when mega-manager rows dominate the board, so this article emphasizes SoftBank’s −32.31% disclosed-AUM impact as the standout concentration signal rather than a fragile global #N claim.
Two details make the SoftBank print especially interesting as a telecom de-risking pattern:
- Concentration of the hit. A −32.31% disclosed-AUM impact from a single stock is large relative to SoftBank’s ~$11.41B disclosed long book on QuantyFight (Q1 2026 table value total).
- Incomplete exit, decisive downshift. SoftBank remains a named TMUS holder, but at a much smaller share count — a classic “still in, but lighter” 13F pattern.
SoftBank TMUS among top 13F Q1 dollar losers
| Manager | Ticker | $ move | Δ shares | AUM % impact | Sector |
|---|---|---|---|---|---|
| SoftBank Group Corp. | TMUS | −$3.69B | −18,503,696 | −32.31% | Telecommunications |
Highlight from QuantyFight’s Q1 2026 vs Q4 2025 dollar-decrease leaderboard (hedge-relevant framing). SoftBank’s −32.31% disclosed-book impact is the concentration signal — not a claimed full-universe #3 against unverified mega-manager rows. Source: quantyfight.com/hedge-movement
SoftBank’s disclosed book after the trim
The SoftBank holdings view on QuantyFight for Q1 2026 (accession 0001062993-26-002663, period of report 2026-03-31) lists about 24 reportable long positions totaling about $11.41 billion in disclosed long value (SEC 13F longs only — not SoftBank’s full economic AUM). After the TMUS reduction, the book remains concentrated:
- Intel (INTC) — $3.84B · 33.63% of the disclosed book
- Symbotic (SYM) — $2.12B · 18.57%
- T-Mobile (TMUS) — $2.10B · 18.41% (still #3 by weight, but much lighter than the Q4 2025 ~28.5M-share / ~$5.79B / ~37.42% footprint; Q4 accession
0001062993-26-000965)
Those three stocks alone are roughly 70.6% of SoftBank’s disclosed U.S. long portfolio on QuantyFight. Telecom remains material — just no longer at the prior share footprint.
SoftBank disclosed long allocation (Q1 2026)
| # | Ticker | Name | Value | % of book | Shares | Sector |
|---|---|---|---|---|---|---|
| 1 | INTC | Intel Corp | $3.84B | 33.63% | 86,956,522 | Technology |
| 2 | SYM | Symbotic Inc A | $2.12B | 18.57% | 39,825,312 | Industrials |
| 3 | TMUS | T-Mobile US Inc | $2.10B | 18.41% | 10,000,000 | Telecommunications |
| 4 | TSM | Taiwan Semiconductor ADR | $0.67B | 5.88% | 1,985,000 | Technology |
| 5 | INTR | Inter & Co Inc A | $0.48B | 4.22% | 60,506,636 | Finance |
| 6 | WBTN | Webtoon Entmt Inc | $0.29B | 2.53% | 31,432,480 | Consumer Discretionary |
| 7 | NU | Nu Holdings Ltd A | $0.26B | 2.25% | 17,842,116 | Finance |
| 8 | TEM | Tempus AI Inc A | $0.24B | 2.14% | 5,405,406 | Technology |
| 9 | VTEX | VTEX A | $0.15B | 1.35% | 38,434,587 | Technology |
| 10 | QXO | QXO Inc | $0.11B | 0.93% | 5,470,459 | Consumer Discretionary |
Source: quantyfight.com/funds/1065521 · Q1 2026 holdings · accession 0001062993-26-002663 · period of report 2026-03-31 · filed values from QuantyFight’s 13F-derived book (ultimate source: SEC Form 13F data sets)
Telecom context on the same leaderboard
SoftBank’s TMUS cut is large, but it is not the only telecom-related reduction in the sector-filtered dollar-decrease leaderboard on QuantyFight. In Telecommunications, SoftBank’s TMUS print sits near the top of the dollar-cut list, alongside sizable reductions in names like CSCO and LITE by other managers.
Telecommunications — large $ decreases on QuantyFight
| Manager | Ticker | $ move | Δ shares | AUM % impact |
|---|---|---|---|---|
| Charles Schwab Investment Management | CSCO | −$2.79B | −36,532,084 | −0.68% |
| SoftBank Group Corp. | TMUS | −$3.69B | −18,503,696 | −32.31% |
| Capital World Investors | LITE | −$0.41B | −2,304,472 | −0.26% |
| BlackRock, Inc. | ANET | −$1.22B | −3,541,313 | −0.02% |
| Capital International Investors | TMUS | −$1.75B | −8,814,590 | −0.37% |
| BlackRock, Inc. | CSCO | −$0.82B | −13,276,196 | −0.03% |
Source: QuantyFight dollar-decrease data filtered to Telecommunications · quantyfight.com/sectors
Notice the contrast in portfolio impact: SoftBank’s −32.31% AUM hit dwarfs the sub-1% AUM impacts shown for several larger managers cutting CSCO or LITE. In 13F data of this shape, that is often the difference between a giant balancer adjusting a small sleeve and a concentrated book changing a core line.
Same sector, other side of the tape — sample telecom $ increases
| Manager | Ticker | $ move |
|---|---|---|
| FMR LLC | ANET | +$1.31B |
| Charles Schwab Investment Management | CMCSA | +$2.33B |
| T. Rowe Price | CSCO | +$1.16B |
| Fisher Asset Management | CSCO | +$1.10B |
| Capital World Investors | T | +$2.04B |
Source: QuantyFight dollar-increase data · Telecommunications filter · Hedge movement
Who still holds TMUS (QuantyFight holder table)
SoftBank remains a meaningful named holder, but it is no longer near the top of the absolute-dollar TMUS ownership table. On quantyfight.com/stocks/TMUS, SoftBank remains a named holder at ~$2.10B / 10.0M shares (18.41% of SoftBank’s own disclosed book); behind large allocators such as BlackRock, State Street, Wellington, Morgan Stanley, Fidelity, and Geode.
Top disclosed TMUS holders (Q1 2026 snapshot)
| # | Manager | Value | Shares | % of manager book* |
|---|---|---|---|---|
| 1 | BlackRock, Inc. | $8.22B | 39,115,867 | 0.14% |
| 2 | State Street Corp | $4.98B | 23,719,298 | 0.17% |
| 3 | Wellington Management | $3.61B | 17,200,244 | 0.67% |
| 4 | Morgan Stanley | $3.02B | 14,387,032 | 0.18% |
| 5 | FMR LLC | $2.63B | 12,529,473 | 0.14% |
| 6 | Geode Capital | $2.60B | 12,431,706 | 0.16% |
| 7 | SoftBank Group Corp. | $2.10B | 10,000,000 | 18.41% |
| 8 | Invesco Ltd. | $1.70B | 8,111,959 | 0.26% |
| 9 | Franklin Resources | $1.48B | 7,048,146 | 0.36% |
| 10 | Barclays PLC | $1.39B | 6,610,449 | 0.33% |
*% of manager book = position as % of that manager’s disclosed long book on QuantyFight. SoftBank value/weight updated to recalculated Q1 filed figures ($2.10B / 18.41%). Other holder absolute $ rows were not re-verified against the recalculated Web DB in this refresh and should be treated as indicative. Source: quantyfight.com/stocks/TMUS
That table is the cleanest illustration of SoftBank’s “de-risk but don’t disappear” posture: SoftBank’s absolute TMUS value is smaller than several passive/active giants, yet TMUS is still a double-digit percentage of SoftBank’s own disclosed book.
How to explore this pattern on QuantyFight
- Open Hedge movement and scan the biggest dollar position decreases for SoftBank / TMUS.
- Click through to SoftBank’s fund page for the full holdings table and concentration (INTC-heavy).
- Open TMUS to compare SoftBank with other holders and see whether the cut is isolated or shared (Capital International also cut TMUS −$1.75B in the telecom losers view).
- Use Sectors for broader telecom/tech allocation context, and Ask for natural-language follow-ups on the same catalog.