SoftBank (NRGV) discloses 15.54M-share stake, 8.9% of float

Rhea-AI Filing Summary

Energy Vault Holdings, Inc. ownership update: SB Investment Advisers (UK) Limited and SoftBank Vision Fund (AIV M2) L.P. report shared beneficial ownership of 15,535,631 shares of Common Stock, representing 8.9% of the class as of March 31, 2026.

The filing states the 174,146,636 shares outstanding figure is taken from the issuer's definitive proxy statement filed on April 17, 2026. SBIA UK is appointed as AIV M2's AIFM and the Reporting Persons report shared voting and dispositive power over the disclosed shares.

Insights

Institutional Ownership Analyst

Large passive holding reported by SoftBank entities; position is material relative to float.

The excerpt lists shared beneficial ownership of 15,535,631 shares equal to 8.9% of the outstanding common stock as of March 31, 2026. The reported outstanding base is 174,146,636 shares, cited from a proxy filed April 17, 2026.

Holder disclosures show shared voting and dispositive power; cash‑flow treatment and intent (active trading vs passive investment) are not stated in the excerpt. Subsequent filings or statements would be required to clarify any change in intentions or trading plans.

Corporate Governance Expert

Filing clarifies voting authority and manager role, which matters for proxy and voting outcomes.

The filing describes SBIA UK as AIFM for AIV M2 and attributes shared voting and dispositive power over 15,535,631 shares. The appointment and shared power are factual governance disclosures tied to ownership.

Any influence on shareholder votes depends on whether those shares are voted; the excerpt does not state voting intentions or voting arrangements. Future proxy disclosures or meeting ballots would show the practical effect of this holding.

Key Figures

Beneficial ownership: 15,535,631 shares Percent of class: 8.9% Shares outstanding: 174,146,636 shares +2 more

5 metrics

Beneficial ownership 15,535,631 shares reported shared beneficial ownership as of March 31, 2026

Percent of class 8.9% percentage of common stock based on outstanding shares as of March 31, 2026

Shares outstanding 174,146,636 shares shares outstanding cited from issuer's proxy statement filed April 17, 2026

Reporting date March 31, 2026 beneficial ownership calculation date

Filing signature date 05/15/2026 Schedule 13G/A signed by Amanda Sanchez-Barry, General Counsel

Key Terms

alternative investment fund manager (AIFM), beneficial ownership, Schedule 13G/A

3 terms

alternative investment fund manager (AIFM) regulatory

"SBIA UK has been appointed as alternative investment fund manager"

beneficial ownership financial

"Each of the Reporting Persons may be deemed to share beneficial ownership"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Schedule 13G/A regulatory

"This statement is filed on behalf of: SB Investment Advisers (UK) Limited"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/15/2026 - 09:00 PM Learn about SEC filing dates

FAQ

What stake does SoftBank report in Energy Vault (NRGV)?

SoftBank reports shared beneficial ownership of 15,535,631 shares, representing 8.9% of Energy Vault's common stock as of March 31, 2026. The share count uses the issuer's outstanding base of 174,146,636 shares from the proxy filed April 17, 2026.

Who are the reporting parties in the Schedule 13G/A for NRGV?

The reporting persons are SB Investment Advisers (UK) Limited and SoftBank Vision Fund (AIV M2) L.P.. SBIA UK is identified as AIV M2's appointed alternative investment fund manager with shared voting and dispositive power over the disclosed shares.

How was the outstanding share base determined in the filing for NRGV?

The filing cites 174,146,636 shares outstanding as of March 31, 2026, taken from Energy Vault's definitive proxy statement filed on April 17, 2026. That figure is the denominator used to calculate the 8.9% ownership percentage reported.

Does the Schedule 13G/A state how SBIA UK will vote the shares of NRGV?

No. The excerpt states SBIA UK has shared voting and dispositive power as AIFM over the reported 15,535,631 shares, but it does not disclose any specific voting intentions or instructions for shareholder meetings in the provided text.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Energy Vault Holdings, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

29280W109

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 29280W109

1

Names of Reporting Persons

SB Investment Advisers (UK) Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,535,631.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,535,631.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,535,631.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.9 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP Number(s): 29280W109

1

Names of Reporting Persons

SoftBank Vision Fund (AIV M2) L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,535,631.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,535,631.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,535,631.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.9 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Energy Vault Holdings, Inc.
(b)	Address of issuer's principal executive offices: 4165 East Thousand Oaks Blvd., Suite 100, Westlake Village, CA 91362
Item 2.
(a)	Name of person filing: Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of: SB Investment Advisers (UK) Limited ("SBIA UK") SoftBank Vision Fund (AIV M2) L.P. ("AIV M2")
(b)	Address or principal business office or, if none, residence: The address for SBIA UK is 69 Grosvenor Street, Mayfair, London W1K 3JP, England, United Kingdom. The address for AIV M2 is 1521 Concord Pike, Wilmington, DE 19803.
(c)	Citizenship: SBIA UK is organized under the laws of England and Wales. AIV M2 is organized under the laws of the State of Delaware.
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP No.: 29280W109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The ownership information presented herein represents beneficial ownership of Common Stock as of March 31, 2026, based upon 174,146,636 shares of Common Stock outstanding as of March 31, 2026, as disclosed in the Issuer's definitive proxy statement filed with the Securities and Exchange Commission on April 17, 2026. AIV M2 is the record holder of the securities reported herein. SBIA UK has been appointed as alternative investment fund manager ("AIFM") of AIV M2. SBIA UK is authorized and regulated by the UK Financial Conduct Authority and is exclusively responsible for making all decisions related to the acquisition, structuring, financing, voting and disposal of AIV M2's investments. As a result of these relationships, each of the Reporting Persons may be deemed to share beneficial ownership of the securities reported herein.
(b)	Percent of class: 8.9%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 15,535,631
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 15,535,631
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SB Investment Advisers (UK) Limited

Signature:	/s/ Amanda Sanchez-Barry
Name/Title:	Amanda Sanchez-Barry, General Counsel
Date:	05/15/2026

SoftBank Vision Fund (AIV M2) L.P.

Signature:	By: SB Investment Advisers (UK) Limited, its manager, By: /s/ Amanda Sanchez-Barry
Name/Title:	Amanda Sanchez-Barry, General Counsel
Date:	05/15/2026

Exhibit Information

Joint Filing Agreement (previously filed).