SAN FRANCISCO — Yahoo has agreed to sell the bulk of what people know as Yahoo — its mail services, its news sites, the Tumblr social network — to Verizon for nearly $5 billion.

So what’s left? A lot of more financially valuable pieces that Yahoo has yet to figure out what to do with.

Assuming shareholders and regulators bless the sale of the core Yahoo businesses to Verizon, what will stay are a 15 percent stake in the Alibaba Group, the Chinese internet giant; a 35.5 percent stake in Yahoo’s Japanese affiliate; the company’s cash; and a collection of noncore patents that will eventually be sold off.

The total value of the so-called RemainCo, as company officials refer to the rump: more than $40 billion.