NEBIUS GROUP N.V. NBIS
SHS CLASS A · Common Stock · CUSIP N97284108
Dutch company developing a portfolio of AI-related technology assets
- SectorTechnology
- IndustryServices-Computer Programming, Data Processing, Etc.
- HeadquartersAmsterdam, Netherlands
- Founded2004
- Websitenebius.group
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($216.4k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $54.55. Options: 36 managers hold calls ($1.0bn notional), 34 hold puts ($664.7m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 246 |
| Q4 2022 | 248 |
| Q1 2023 | 237 |
| Q2 2023 | 223 |
| Q3 2023 | 214 |
| Q4 2023 | 214 |
| Q1 2024 | 203 |
| Q2 2024 | 196 |
| Q3 2024 | 196 |
| Q4 2024 | 303 |
| Q1 2025 | 334 |
| Q2 2025 | 410 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 24 | 61 |
| Q4 2023 | 26 | 61 |
| Q1 2024 | 31 | 84 |
| Q2 2024 | 23 | 55 |
| Q3 2024 | 36 | 47 |
| Q4 2024 | 187 | 119 |
| Q1 2025 | 202 | 152 |
| Q2 2025 | 236 | 176 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $0 | $0 | — |
| Q4 2024 | $223.8m | $96.8m | 0.43 |
| Q1 2025 | $329.0m | $232.2m | 0.71 |
| Q2 2025 | $1.0bn | $664.7m | 0.63 |
Biggest buyers
| FRED ALGER MANAGEMENT, LLC | Added | +4.4m |
| Jericho Capital Asset Management L.P. | New | +3.0m |
| Altshuler Shaham Ltd | New | +2.1m |
| Orbis Allan Gray Ltd | Added | +1.9m |
| D. E. Shaw & Co., Inc. | New | +1.9m |
| Rovida Investment Management Ltd | New | +1.7m |
| NEUBERGER BERMAN GROUP LLC | Added | +1.0m |
| GOLDMAN SACHS GROUP INC | Added | +950.3k |
| GILDER GAGNON HOWE & CO LLC | New | +891.7k |
| JPMORGAN CHASE & CO | Added | +634.8k |
Biggest sellers
| CITADEL ADVISORS LLC | Reduced | -3.5m |
| Slate Path Capital LP | Reduced | -2.0m |
| MARSHALL WACE, LLP | Reduced | -1.7m |
| Diameter Capital Partners LP | Sold out | -1.2m |
| Burkehill Global Management, LP | Sold out | -952.4k |
| Greenwoods Asset Management Hong Kong Ltd. | Reduced | -941.7k |
| Oasis Management Co Ltd. | Sold out | -714.6k |
| Kora Management LP | Reduced | -653.5k |
| BANK OF AMERICA CORP /DE/ | Reduced | -592.8k |
| Jump Financial, LLC | Sold out | -490.9k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $255.4m4.6m shares |
| CITADEL ADVISORS LLC | Added | $163.2m2.9m shares |
| JANE STREET GROUP, LLC | Added | $75.7m1.4m shares |
| GROUP ONE TRADING LLC | Reduced | $67.5m1.2m shares |
| IMC-Chicago, LLC | Added | $55.8m1.0m shares |
| Balyasny Asset Management L.P. | Reduced | $55.7m1.0m shares |
| Wolf Hill Capital Management, LP | New | $55.3m1.0m shares |
| SIMPLEX TRADING, LLC | Reduced | $52.0m940.2k shares |
| UBS Group AG | Reduced | $47.2m853.6k shares |
| WOLVERINE TRADING, LLC | Reduced | $33.7m649.9k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $148.2m2.7m shares |
| CITADEL ADVISORS LLC | Added | $142.6m2.6m shares |
| GOLDMAN SACHS GROUP INC | Added | $57.6m1.0m shares |
| JANE STREET GROUP, LLC | Reduced | $40.1m724.8k shares |
| Cubist Systematic Strategies, LLC | New | $38.8m701.8k shares |
| HBK INVESTMENTS L P | Not comparable | $31.9m576.8k shares |
| SIMPLEX TRADING, LLC | Added | $25.8m467.0k shares |
| IMC-Chicago, LLC | Reduced | $25.5m461.2k shares |
| MILLENNIUM MANAGEMENT LLC | New | $22.5m407.3k shares |
| Sculptor Capital LP | New | $22.0m397.8k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| NVIDIA CORP 13G · passive investor new · filed 2026-07-20 | 9.3% |
| Situational Awareness LP 13G · institution new · filed 2026-05-27 | 5.6% |
| GOLDMAN SACHS GROUP INC 13G · institution -5.4 pts · filed 2026-10-07 | 5.1% |
Fell to 5% or below in the last year: ORBIS INVESTMENT MANAGEMENT LTD (1.5%, 2026-02-17)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| Orbis Allan Gray Ltd 4.75% of their portfolio | 17.7m $976.7m | Added +1.9m |
| FRED ALGER MANAGEMENT, LLC 1.88% of their portfolio | 7.6m $420.3m | Added +4.4m |
| Accel Leaders 4 Associates L.P. 100.00% of their portfolio | 4.6m $253.5m | Unchanged |
| Slate Path Capital LP 3.76% of their portfolio | 3.9m $217.8m | Reduced -2.0m |
| Invesco Ltd. 0.03% of their portfolio | 3.6m $198.5m | Added +92.7k |
| Jericho Capital Asset Management L.P. 2.18% of their portfolio | 3.0m $163.7m | New |
| Value Aligned Research Advisors, LLC 5.51% of their portfolio | 2.2m $123.3m | Added +348.3k |
| Altshuler Shaham Ltd 0.09% of their portfolio | 2.1m $2.8m | New |
| MORGAN STANLEY 0.01% of their portfolio | 2.0m $113.0m | Reduced -141.6k |
| D. E. Shaw & Co., Inc. 0.11% of their portfolio | 1.9m $107.6m | New |
| DISCOVERY CAPITAL MANAGEMENT, LLC / CT 7.88% of their portfolio | 1.8m $100.4m | Reduced -326.1k |
| Rovida Investment Management Ltd 17.81% of their portfolio | 1.7m $96.2m | New |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 1.6m $87.8m | Added +950.3k |
| Kora Management LP 10.32% of their portfolio | 1.5m $83.9m | Reduced -653.5k |
| Greenwoods Asset Management Hong Kong Ltd. 2.46% of their portfolio | 1.3m $70.6m | Reduced -941.7k |
| NVIDIA CORP 1.52% of their portfolio | 1.2m $65.9m | Unchanged |
| NEUBERGER BERMAN GROUP LLC 0.05% of their portfolio | 1.2m $64.1m | Added +1.0m |
| CITADEL ADVISORS LLC 0.05% of their portfolio | 1.1m $62.9m | Reduced -3.5m |
| Tree Line Advisors (Hong Kong) Ltd. 15.42% of their portfolio | 1.1m $59.2m | Unchanged |
| GILDER GAGNON HOWE & CO LLC 0.52% of their portfolio | 891.7k $49.3m | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 848.3k $46.9m | Added +634.8k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.07% of their portfolio | 830.8k $46.0m | Reduced -341.7k |
| ExodusPoint Capital Management, LP 0.53% of their portfolio | 789.3k $43.7m | Reduced -148.1k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.10% of their portfolio | 777.0k $40.3m | Added +4.0k |
| Conifer Management, L.L.C. 5.04% of their portfolio | 700.0k $38.7m | Unchanged |
| JANE STREET GROUP, LLC 0.06% of their portfolio | 688.0k $38.1m | Added +75.7k |
| Amundi 0.01% of their portfolio | 615.8k $30.8m | Reduced -1.3k |
| TUDOR INVESTMENT CORP ET AL 0.25% of their portfolio | 606.4k $33.6m | Added +172.0k |
| Mubadala Investment Co PJSC 0.16% of their portfolio | 539.8k $29.9m | Unchanged |
| WCM INVESTMENT MANAGEMENT, LLC 0.06% of their portfolio | 521.9k $27.1m | Reduced -15.9k |
| LONG WALK MANAGEMENT LP 7.00% of their portfolio | 500.0k $27.7m | New |
| SEI INVESTMENTS CO 0.03% of their portfolio | 479.7k $26.5m | Added +273.2k |
| Liontrust Investment Partners LLP 0.36% of their portfolio | 450.0k $24.9m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 432.6k $23.9m | Added +2.3k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 431.6k $23.9m | Reduced -116.2k |
| Legal & General Group Plc 0.01% of their portfolio | 424.3k $23.5m | Reduced -155.0k |
| DekaBank Deutsche Girozentrale 0.04% of their portfolio | 406.5k $21.6m | Unchanged |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 399.5k $22.1m | Added +278.8k |
| HRT FINANCIAL LP 0.12% of their portfolio | 396.3k $21.9m | Reduced -165.8k |
| UBS Group AG 0.00% of their portfolio | 394.5k $21.8m | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 343.5k $19.0m | Reduced -592.8k |
| Steward Partners Investment Advisory, LLC 0.14% of their portfolio | 320.8k $17.7m | Added +318.7k |
| LPL Financial LLC 0.01% of their portfolio | 312.1k $17.3m | Added +183.8k |
| SCOGGIN MANAGEMENT LP 7.67% of their portfolio | 300.0k $16.6m | Added +62.5k |
| Wolf Hill Capital Management, LP 1.38% of their portfolio | 300.0k $16.6m | New |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.00% of their portfolio | 282.7k $0 | Unchanged |
| Public Sector Pension Investment Board 0.00% of their portfolio | 280.2k $0 | Unchanged |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 266.0k $14.7m | Added +188.9k |
| Two Seas Capital LP 1.36% of their portfolio | 250.0k $13.8m | Added +100.0k |
| CENTAURUS FINANCIAL, INC. 0.79% of their portfolio | 245.6k $13.6m | Added +4.5k |
| INVESTMENT HOUSE LLC 0.67% of their portfolio | 238.8k $13.2m | Added +113.6k |
| HOWLAND CAPITAL MANAGEMENT LLC 0.52% of their portfolio | 230.0k $12.7m | Unchanged |
| Virtus Wealth Solutions LLC 2.56% of their portfolio | 224.2k $12.4m | New |
| Q Fund Management (Hong Kong) Ltd 6.80% of their portfolio | 223.6k $12.4m | New |
| Trivest Advisors Ltd 0.48% of their portfolio | 221.6k $12.3m | New |
| EAGLE GLOBAL ADVISORS LLC 0.49% of their portfolio | 218.9k $12.1m | Reduced -4.2k |
| Tidal Investments LLC 0.08% of their portfolio | 207.8k $11.5m | Added +98.3k |
| PINNACLE ASSOCIATES LTD 0.15% of their portfolio | 186.2k $10.3m | Reduced -5.3k |
| Rockefeller Capital Management L.P. 0.01% of their portfolio | 171.9k $9.5m | Reduced -33.6k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 168.0k $9.3m | New |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 162.6k $9.0m | Added +65.6k |
| Lane Generational LLC 8.37% of their portfolio | 162.2k $9.0m | New |
| PLUSTICK MANAGEMENT LLC 5.25% of their portfolio | 160.0k $8.9m | Unchanged |
| AVIVA PLC 0.00% of their portfolio | 141.6k $0 | Unchanged |
| California Public Employees Retirement System 0.00% of their portfolio | 140.0k $7.7m | Reduced -60.0k |
| Cetera Investment Advisers 0.01% of their portfolio | 138.4k $7.7m | Added +78.3k |
| CAPITAL FUND MANAGEMENT S.A. 0.08% of their portfolio | 138.2k $7.6m | New |
| STATE STREET CORP 0.00% of their portfolio | 131.5k $7.3m | Added +86.5k |
| HIMENSION CAPITAL (SINGAPORE) PTE. LTD. 0.56% of their portfolio | 130.1k $7.2m | Reduced -28.2k |
| OSAIC HOLDINGS, INC. 0.01% of their portfolio | 129.5k $7.2m | Added +4.5k |
| ARMISTICE CAPITAL, LLC 0.26% of their portfolio | 124.0k $6.9m | Reduced -444.1k |
| Proem Advisors LLC 1.61% of their portfolio | 110.0k $6.1m | New |
| TCW GROUP INC 0.05% of their portfolio | 107.7k $6.0m | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 107.4k $5.9m | Added +59.0k |
| Revere Asset Management, Inc 2.71% of their portfolio | 100.9k $5.6m | New |
| DANSKE BANK A/S 0.01% of their portfolio | 98.7k $4.1m | Unchanged |
| SG Americas Securities, LLC 0.02% of their portfolio | 98.2k $5.4m | Reduced -63.6k |
| THAMES CAPITAL MANAGEMENT LLC 1.22% of their portfolio | 97.4k $5.4m | New |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 94.8k $5.2m | Reduced -63.0k |
| Vident Advisory, LLC 0.06% of their portfolio | 93.2k $5.2m | Added +14.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 92.8k $5.1m | New |
| MERCER GLOBAL ADVISORS INC /ADV 0.01% of their portfolio | 90.7k $4.3m | Reduced -13.0k |
| BARINGS LLC 0.00% of their portfolio | 90.7k $0 | Unchanged |
| Virtu Financial LLC 0.25% of their portfolio | 89.9k $5.0m | New |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 86.7k $4.8m | Added +2.1k |
| TEXAS PERMANENT SCHOOL FUND CORP 0.00% of their portfolio | 86.4k $864 | Unchanged |
| CIBC Private Wealth Group LLC 0.01% of their portfolio | 85.9k $4.8m | Added +84.6k |
| INDEPENDENT FINANCIAL GROUP, LLC 0.13% of their portfolio | 85.1k $4.7m | Added +54.7k |
| EXCHANGE TRADED CONCEPTS, LLC 0.06% of their portfolio | 84.7k $4.7m | Reduced -39.5k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 82.7k $4.6m | Reduced -69.7k |
| Bank Julius Baer & Co. Ltd, Zurich 0.01% of their portfolio | 81.4k $4.5m | Reduced -12.2k |
| Dilation Capital Management LP 2.38% of their portfolio | 80.8k $4.5m | New |
| Man Group plc 0.01% of their portfolio | 80.6k $4.5m | New |
| RBF Capital, LLC 0.21% of their portfolio | 75.0k $4.2m | Reduced -5.0k |
| Baader Bank Aktiengesellschaft 0.35% of their portfolio | 73.9k $4.1m | Reduced -6.0k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio | 73.6k $4.1m | New |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 73.0k $4.0m | New |
| NORGES BANK 0.00% of their portfolio | 71.5k $4.0m | Reduced -357.0k |
| Maxi Investments CY Ltd 0.66% of their portfolio | 70.7k $3.9m | Added +23.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 69.6k $3.9m | Unchanged |