Vault-13

NEBIUS GROUP N.V. NBIS

SHS CLASS A · Common Stock · CUSIP N97284108

Dutch company developing a portfolio of AI-related technology assets

410 institutional holders +76 vs Q1 2025
84,097,02784.1m shares reported held*
$4.6bnreported value*
153 new 83 added 95 reduced 81 sold out net bought ≈ $142.6m (+2.5m shares)

* 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

0200400600Q3 22: 246Q4 22: 248Q1 23: 237Q2 23: 223Q3 23: 214Q4 23: 214Q1 24: 203Q2 24: 196Q3 24: 196Q4 24: 303Q1 25: 334Q2 25: 410410Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022246
Q4 2022248
Q1 2023237
Q2 2023223
Q3 2023214
Q4 2023214
Q1 2024203
Q2 2024196
Q3 2024196
Q4 2024303
Q1 2025334
Q2 2025410

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q3 23: 24 bought or addedQ3 23: 61 cut or sold outQ4 23: 26 bought or addedQ4 23: 61 cut or sold outQ4 23Q1 24: 31 bought or addedQ1 24: 84 cut or sold outQ2 24: 23 bought or addedQ2 24: 55 cut or sold outQ2 24Q3 24: 36 bought or addedQ3 24: 47 cut or sold outQ4 24: 187 bought or addedQ4 24: 119 cut or sold outQ4 24Q1 25: 202 bought or addedQ1 25: 152 cut or sold outQ2 25: 236 bought or addedQ2 25: 176 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20232461
Q4 20232661
Q1 20243184
Q2 20242355
Q3 20243647
Q4 2024187119
Q1 2025202152
Q2 2025236176

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500m$1bn$1.5bnQ3 24 calls: $0Q3 24 puts: $0Q3 24P/C —Q4 24 calls: $223.8mQ4 24 puts: $96.8mQ4 24P/C 0.43Q1 25 calls: $329.0mQ1 25 puts: $232.2mQ1 25P/C 0.71Q2 25 calls: $1.0bnQ2 25 puts: $664.7mQ2 25P/C 0.63
Numbers
QuarterCallsPutsP/C
Q3 2024$0$0—
Q4 2024$223.8m$96.8m0.43
Q1 2025$329.0m$232.2m0.71
Q2 2025$1.0bn$664.7m0.63

Biggest buyers

FRED ALGER MANAGEMENT, LLC Added +4,401,197+4.4m
Jericho Capital Asset Management L.P. New +2,959,000+3.0m
Altshuler Shaham Ltd New +2,100,000+2.1m
Orbis Allan Gray Ltd Added +1,949,708+1.9m
D. E. Shaw & Co., Inc. New +1,943,969+1.9m
Rovida Investment Management Ltd New +1,740,647+1.7m
NEUBERGER BERMAN GROUP LLC Added +1,046,879+1.0m
GOLDMAN SACHS GROUP INC Added +950,252+950.3k
GILDER GAGNON HOWE & CO LLC New +891,693+891.7k
JPMORGAN CHASE & CO Added +634,838+634.8k

Biggest sellers

CITADEL ADVISORS LLC Reduced -3,493,116-3.5m
Slate Path Capital LP Reduced -1,967,000-2.0m
MARSHALL WACE, LLP Reduced -1,741,850-1.7m
Diameter Capital Partners LP Sold out -1,190,476-1.2m
Burkehill Global Management, LP Sold out -952,380-952.4k
Greenwoods Asset Management Hong Kong Ltd. Reduced -941,711-941.7k
Oasis Management Co Ltd. Sold out -714,623-714.6k
Kora Management LP Reduced -653,500-653.5k
BANK OF AMERICA CORP /DE/ Reduced -592,819-592.8k
Jump Financial, LLC Sold out -490,857-490.9k

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.

HolderStakeChangeShares Last filed
NVIDIA CORP 13G · passive investor new · filed 2026-07-20 9.3% new 22.3m≈ $6.1bn 2026-07-20
Situational Awareness LP 13G · institution new · filed 2026-05-27 5.6% new 12.4m≈ $3.4bn 2026-05-27
GOLDMAN SACHS GROUP INC 13G · institution -5.4 pts · filed 2026-10-07 5.1% -5.4 pts 13.0m≈ $3.6bn 2026-10-07

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

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Orbis Allan Gray Ltd 4.75% of their portfolio HamiltoN, D0 17,651,93017.7m $976.7m $976.7m 4.75% Added +1.9m +1,949,708
2 FRED ALGER MANAGEMENT, LLC 1.88% of their portfolio NEW YORK, NY 7,595,4477.6m $420.3m $420.3m 1.88% Added +4.4m +4,401,197
3 Accel Leaders 4 Associates L.P. 100.00% of their portfolio PALO ALTO, CA 4,580,9524.6m $253.5m $253.5m 100.00% Unchanged
4 Slate Path Capital LP 3.76% of their portfolio New York, NY 3,937,2003.9m $217.8m $217.8m 3.76% Reduced -2.0m -1,967,000
5 Invesco Ltd. 0.03% of their portfolio ATLANTA, GA 3,587,8113.6m $198.5m $198.5m 0.03% Added +92.7k +92,710
6 Jericho Capital Asset Management L.P. 2.18% of their portfolio LOS ANGELES, CA 2,959,0003.0m $163.7m $163.7m 2.18% New
7 Value Aligned Research Advisors, LLC 5.51% of their portfolio PRINCETON, NJ 2,228,1242.2m $123.3m $123.3m 5.51% Added +348.3k +348,309
8 Altshuler Shaham Ltd 0.09% of their portfolio Tel Aviv, L3 2,100,0002.1m $2.8m $2.8m 0.09% New
9 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 2,041,7972.0m $113.0m $113.0m 0.01% Reduced -141.6k -141,593
10 D. E. Shaw & Co., Inc. 0.11% of their portfolio New York, NY 1,943,9691.9m $107.6m $107.6m 0.11% New
11 DISCOVERY CAPITAL MANAGEMENT, LLC / CT 7.88% of their portfolio SOUTH NORWALK, CT 1,814,9761.8m $100.4m $100.4m 7.88% Reduced -326.1k -326,100
12 Rovida Investment Management Ltd 17.81% of their portfolio Grand Cayman, E9 1,740,6471.7m $96.2m $96.2m 17.81% New
13 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 1,587,3941.6m $87.8m $87.8m 0.01% Added +950.3k +950,252
14 Kora Management LP 10.32% of their portfolio BROOKLYN, NY 1,516,9761.5m $83.9m $83.9m 10.32% Reduced -653.5k -653,500
15 Greenwoods Asset Management Hong Kong Ltd. 2.46% of their portfolio HONG KONG, K3 1,276,3031.3m $70.6m $70.6m 2.46% Reduced -941.7k -941,711
16 NVIDIA CORP 1.52% of their portfolio SANTA CLARA, CA 1,190,4761.2m $65.9m $65.9m 1.52% Unchanged
17 NEUBERGER BERMAN GROUP LLC 0.05% of their portfolio NEW YORK, NY 1,157,6531.2m $64.1m $64.1m 0.05% Added +1.0m +1,046,879
18 CITADEL ADVISORS LLC 0.05% of their portfolio MIAMI, FL 1,136,9261.1m $62.9m $62.9m 0.05% Reduced -3.5m -3,493,116
19 Tree Line Advisors (Hong Kong) Ltd. 15.42% of their portfolio CENTRAL, K3 1,070,0001.1m $59.2m $59.2m 15.42% Unchanged
20 GILDER GAGNON HOWE & CO LLC 0.52% of their portfolio New York, NY 891,693891.7k $49.3m $49.3m 0.52% New
21 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 848,336848.3k $46.9m $46.9m 0.00% Added +634.8k +634,838
22 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.07% of their portfolio BALA CYNWYD, PA 830,844830.8k $46.0m $46.0m 0.07% Reduced -341.7k -341,743
23 ExodusPoint Capital Management, LP 0.53% of their portfolio NEW YORK, NY 789,301789.3k $43.7m $43.7m 0.53% Reduced -148.1k -148,073
24 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.10% of their portfolio Paris, I0 777,000777.0k $40.3m $40.3m 0.10% Added +4.0k +4,000
25 Conifer Management, L.L.C. 5.04% of their portfolio New York, NY 700,000700.0k $38.7m $38.7m 5.04% Unchanged
26 JANE STREET GROUP, LLC 0.06% of their portfolio NEW YORK, NY 687,953688.0k $38.1m $38.1m 0.06% Added +75.7k +75,737
27 Amundi 0.01% of their portfolio Paris, I0 615,773615.8k $30.8m $30.8m 0.01% Reduced -1.3k -1,272
28 TUDOR INVESTMENT CORP ET AL 0.25% of their portfolio STAMFORD, CT 606,364606.4k $33.6m $33.6m 0.25% Added +172.0k +172,018
29 Mubadala Investment Co PJSC 0.16% of their portfolio Abu Dhabi, C0 539,751539.8k $29.9m $29.9m 0.16% Unchanged
30 WCM INVESTMENT MANAGEMENT, LLC 0.06% of their portfolio LAGUNA BEACH, CA 521,925521.9k $27.1m $27.1m 0.06% Reduced -15.9k -15,856
31 LONG WALK MANAGEMENT LP 7.00% of their portfolio GREENWICH, CT 500,000500.0k $27.7m $27.7m 7.00% New
32 SEI INVESTMENTS CO 0.03% of their portfolio OAKS, PA 479,715479.7k $26.5m $26.5m 0.03% Added +273.2k +273,207
33 Liontrust Investment Partners LLP 0.36% of their portfolio LONDON, X0 450,000450.0k $24.9m $24.9m 0.36% New
34 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 432,649432.6k $23.9m $23.9m 0.00% Added +2.3k +2,347
35 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 431,599431.6k $23.9m $23.9m 0.02% Reduced -116.2k -116,154
36 Legal & General Group Plc 0.01% of their portfolio London, X0 424,261424.3k $23.5m $23.5m 0.01% Reduced -155.0k -155,048
37 DekaBank Deutsche Girozentrale 0.04% of their portfolio FRANKFURT, 2M 406,516406.5k $21.6m $21.6m 0.04% Unchanged
38 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 399,494399.5k $22.1m $22.1m 0.01% Added +278.8k +278,796
39 HRT FINANCIAL LP 0.12% of their portfolio NEW YORK, NY 396,273396.3k $21.9m $21.9m 0.12% Reduced -165.8k -165,837
40 UBS Group AG 0.00% of their portfolio ZURICH, V8 394,474394.5k $21.8m $21.8m 0.00% Unchanged
41 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 343,476343.5k $19.0m $19.0m 0.00% Reduced -592.8k -592,819
42 Steward Partners Investment Advisory, LLC 0.14% of their portfolio STAMFORD, CT 320,781320.8k $17.7m $17.7m 0.14% Added +318.7k +318,678
43 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 312,050312.1k $17.3m $17.3m 0.01% Added +183.8k +183,767
44 SCOGGIN MANAGEMENT LP 7.67% of their portfolio NEW YORK, NY 300,000300.0k $16.6m $16.6m 7.67% Added +62.5k +62,500
45 Wolf Hill Capital Management, LP 1.38% of their portfolio GREENWICH, CT 300,000300.0k $16.6m $16.6m 1.38% New
46 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.00% of their portfolio VICTORIA, A1 282,658282.7k $0 $0 0.00% Unchanged
47 Public Sector Pension Investment Board 0.00% of their portfolio MONTREAL, A8 280,159280.2k $0 $0 0.00% Unchanged
48 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 266,044266.0k $14.7m $14.7m 0.00% Added +188.9k +188,942
49 Two Seas Capital LP 1.36% of their portfolio RYE, NY 250,000250.0k $13.8m $13.8m 1.36% Added +100.0k +100,000
50 CENTAURUS FINANCIAL, INC. 0.79% of their portfolio ANAHEIM, CA 245,640245.6k $13.6m $13.6m 0.79% Added +4.5k +4,489
51 INVESTMENT HOUSE LLC 0.67% of their portfolio REDONDO BEACH, CA 238,759238.8k $13.2m $13.2m 0.67% Added +113.6k +113,554
52 HOWLAND CAPITAL MANAGEMENT LLC 0.52% of their portfolio BOSTON, MA 230,030230.0k $12.7m $12.7m 0.52% Unchanged
53 Virtus Wealth Solutions LLC 2.56% of their portfolio CRANFORD, NJ 224,181224.2k $12.4m $12.4m 2.56% New
54 Q Fund Management (Hong Kong) Ltd 6.80% of their portfolio HONG KONG, K3 223,600223.6k $12.4m $12.4m 6.80% New
55 Trivest Advisors Ltd 0.48% of their portfolio Hong Kong, K3 221,600221.6k $12.3m $12.3m 0.48% New
56 EAGLE GLOBAL ADVISORS LLC 0.49% of their portfolio Houston, TX 218,895218.9k $12.1m $12.1m 0.49% Reduced -4.2k -4,160
57 Tidal Investments LLC 0.08% of their portfolio Milwaukee, WI 207,846207.8k $11.5m $11.5m 0.08% Added +98.3k +98,288
58 PINNACLE ASSOCIATES LTD 0.15% of their portfolio NEW YORK, NY 186,156186.2k $10.3m $10.3m 0.15% Reduced -5.3k -5,295
59 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 171,928171.9k $9.5m $9.5m 0.01% Reduced -33.6k -33,591
60 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 168,037168.0k $9.3m $9.3m 0.00% New
61 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 162,550162.6k $9.0m $9.0m 0.00% Added +65.6k +65,610
62 Lane Generational LLC 8.37% of their portfolio Palm Beach, FL 162,210162.2k $9.0m $9.0m 8.37% New
63 PLUSTICK MANAGEMENT LLC 5.25% of their portfolio CHARLOTTESVILLE, VA 160,000160.0k $8.9m $8.9m 5.25% Unchanged
64 AVIVA PLC 0.00% of their portfolio LONDON, X0 141,608141.6k $0 $0 0.00% Unchanged
65 California Public Employees Retirement System 0.00% of their portfolio Sacramento, CA 140,000140.0k $7.7m $7.7m 0.00% Reduced -60.0k -60,000
66 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 138,396138.4k $7.7m $7.7m 0.01% Added +78.3k +78,348
67 CAPITAL FUND MANAGEMENT S.A. 0.08% of their portfolio PARIS, I0 138,162138.2k $7.6m $7.6m 0.08% New
68 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 131,490131.5k $7.3m $7.3m 0.00% Added +86.5k +86,527
69 HIMENSION CAPITAL (SINGAPORE) PTE. LTD. 0.56% of their portfolio SINGAPORE, U0 130,055130.1k $7.2m $7.2m 0.56% Reduced -28.2k -28,228
70 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 129,464129.5k $7.2m $7.2m 0.01% Added +4.5k +4,509
71 ARMISTICE CAPITAL, LLC 0.26% of their portfolio NEW YORK, NY 124,000124.0k $6.9m $6.9m 0.26% Reduced -444.1k -444,092
72 Proem Advisors LLC 1.61% of their portfolio Dallas, TX 110,000110.0k $6.1m $6.1m 1.61% New
73 TCW GROUP INC 0.05% of their portfolio LOS ANGELES, CA 107,666107.7k $6.0m $6.0m 0.05% New
74 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 107,396107.4k $5.9m $5.9m 0.00% Added +59.0k +59,050
75 Revere Asset Management, Inc 2.71% of their portfolio DALLAS, TX 100,876100.9k $5.6m $5.6m 2.71% New
76 DANSKE BANK A/S 0.01% of their portfolio COPENHAGEN V, G7 98,72498.7k $4.1m $4.1m 0.01% Unchanged
77 SG Americas Securities, LLC 0.02% of their portfolio NEW YORK, NY 98,20498.2k $5.4m $5.4m 0.02% Reduced -63.6k -63,551
78 THAMES CAPITAL MANAGEMENT LLC 1.22% of their portfolio Roseland, NJ 97,43197.4k $5.4m $5.4m 1.22% New
79 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 94,78294.8k $5.2m $5.2m 0.00% Reduced -63.0k -62,972
80 Vident Advisory, LLC 0.06% of their portfolio Alpharetta, GA 93,19893.2k $5.2m $5.2m 0.06% Added +14.1k +14,081
81 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 92,77992.8k $5.1m $5.1m 0.00% New
82 MERCER GLOBAL ADVISORS INC /ADV 0.01% of their portfolio DENVER, CO 90,69690.7k $4.3m $4.3m 0.01% Reduced -13.0k -13,037
83 BARINGS LLC 0.00% of their portfolio CHARLOTTE, NC 90,66190.7k $0 $0 0.00% Unchanged
84 Virtu Financial LLC 0.25% of their portfolio New York, NY 89,85589.9k $5.0m $5.0m 0.25% New
85 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 86,74886.7k $4.8m $4.8m 0.00% Added +2.1k +2,100
86 TEXAS PERMANENT SCHOOL FUND CORP 0.00% of their portfolio AUSTIN, TX 86,37886.4k $864 $864 0.00% Unchanged
87 CIBC Private Wealth Group LLC 0.01% of their portfolio ATLANTA, GA 85,91685.9k $4.8m $4.8m 0.01% Added +84.6k +84,623
88 INDEPENDENT FINANCIAL GROUP, LLC 0.13% of their portfolio SAN DIEGO, CA 85,12185.1k $4.7m $4.7m 0.13% Added +54.7k +54,665
89 EXCHANGE TRADED CONCEPTS, LLC 0.06% of their portfolio Oklahoma City, OK 84,66084.7k $4.7m $4.7m 0.06% Reduced -39.5k -39,484
90 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 82,66982.7k $4.6m $4.6m 0.00% Reduced -69.7k -69,724
91 Bank Julius Baer & Co. Ltd, Zurich 0.01% of their portfolio ZURICH, V8 81,36981.4k $4.5m $4.5m 0.01% Reduced -12.2k -12,192
92 Dilation Capital Management LP 2.38% of their portfolio New York, NY 80,79080.8k $4.5m $4.5m 2.38% New
93 Man Group plc 0.01% of their portfolio LONDON, X0 80,59780.6k $4.5m $4.5m 0.01% New
94 RBF Capital, LLC 0.21% of their portfolio RENO, NV 75,03575.0k $4.2m $4.2m 0.21% Reduced -5.0k -4,965
95 Baader Bank Aktiengesellschaft 0.35% of their portfolio Unterschleissheim, 2M 73,94873.9k $4.1m $4.1m 0.35% Reduced -6.0k -5,962
96 Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio TOKYO, M0 73,58473.6k $4.1m $4.1m 0.00% New
97 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 72,99673.0k $4.0m $4.0m 0.01% New
98 NORGES BANK 0.00% of their portfolio OSLO, Q8 71,46071.5k $4.0m $4.0m 0.00% Reduced -357.0k -357,000
99 Maxi Investments CY Ltd 0.66% of their portfolio LIMASSOL, G4 70,70070.7k $3.9m $3.9m 0.66% Added +23.3k +23,300
100 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 69,57869.6k $3.9m $3.9m 0.00% Unchanged