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 ($9.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $102.35. Options: 45 managers hold calls ($2.6bn notional), 47 hold puts ($2.9bn).
Trends to Q1 2026
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 |
| Q3 2025 | 573 |
| Q4 2025 | 624 |
| Q1 2026 | 732 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 23 | 55 |
| Q3 2024 | 36 | 47 |
| Q4 2024 | 187 | 119 |
| Q1 2025 | 202 | 152 |
| Q2 2025 | 236 | 176 |
| Q3 2025 | 371 | 187 |
| Q4 2025 | 374 | 283 |
| Q1 2026 | 465 | 244 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $1.0bn | $664.7m | 0.63 |
| Q3 2025 | $2.9bn | $2.6bn | 0.89 |
| Q4 2025 | $2.5bn | $2.4bn | 0.98 |
| Q1 2026 | $2.6bn | $2.9bn | 1.14 |
Biggest buyers
| Altshuler Shaham Ltd | New | +5.2m |
| Orbis Allan Gray Ltd | Added | +5.0m |
| TWO SIGMA INVESTMENTS, LP | Added | +2.7m |
| Value Aligned Research Advisors, LLC | Added | +2.5m |
| JENNISON ASSOCIATES LLC | New | +1.7m |
| FRED ALGER MANAGEMENT, LLC | Added | +1.7m |
| Capital Research Global Investors | Added | +591.9k |
| BlackRock, Inc. | Added | +506.2k |
| BANK OF AMERICA CORP /DE/ | Added | +496.7k |
| WCM INVESTMENT MANAGEMENT, LLC | Added | +432.5k |
Biggest sellers
| UBS Group AG | Reduced | -1.5m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Sold out | -1.4m |
| Invesco Ltd. | Reduced | -967.4k |
| NEUBERGER BERMAN GROUP LLC | Sold out | -879.7k |
| CloudAlpha Capital Management Limited/Hong Kong | Sold out | -754.0k |
| Greenwoods Asset Management Hong Kong Ltd. | Sold out | -638.1k |
| Liontrust Investment Partners LLP | Sold out | -468.4k |
| Clear Street Group Inc. | Reduced | -453.1k |
| Steward Partners Investment Advisory, LLC | Reduced | -270.4k |
| Hudson Bay Capital Management LP | Reduced | -267.7k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $874.0m8.4m shares |
| JANE STREET GROUP, LLC | Added | $422.4m4.1m shares |
| CITADEL ADVISORS LLC | Reduced | $382.7m3.7m shares |
| IMC-Chicago, LLC | Added | $239.0m2.3m shares |
| GROUP ONE TRADING LLC | Reduced | $165.1m1.6m shares |
| PEAK6 LLC | Reduced | $70.7m681.7k shares |
| D. E. Shaw & Co., Inc. | Reduced | $64.3m620.0k shares |
| Walleye Trading LLC | Added | $58.0m559.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $54.6m526.1k shares |
| Oak Grove Capital LLC | Added | $53.1m511.5k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $726.3m7.0m shares |
| JANE STREET GROUP, LLC | Added | $682.8m6.6m shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Added | $224.2m2.2m shares |
| CITADEL ADVISORS LLC | Reduced | $190.8m1.8m shares |
| IMC-Chicago, LLC | Reduced | $158.7m1.5m shares |
| GOLDMAN SACHS GROUP INC | Added | $127.7m1.2m shares |
| LMR Partners LLP | Added | $75.6m728.5k shares |
| WOLVERINE ASSET MANAGEMENT LLC | Added | $72.5m698.3k shares |
| SIMPLEX TRADING, LLC | Added | $71.1m684.9k shares |
| Portman Square Capital LLP | Reduced | $66.3m639.3k 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 Q1 2026
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.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 3 | $4.3m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-03-31 | Korolenko Andrey Chief Infrastructure Officer · Class A Shares | Sold | $2.7m27.0k shares |
| 2026-03-31 | Shtan Danila Chief Technology Officer · Class A Shares | Sold | $1.3m13.5k shares |
| 2026-03-31 | Tal Boaz General Counsel · Class A Shares | Sold | $299.9k3.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.02% of their portfolio | 9.9m $1.0bn | Added +506.2k |
| FRED ALGER MANAGEMENT, LLC 4.38% of their portfolio | 9.6m $996.0m | Added +1.7m |
| Orbis Allan Gray Ltd 3.64% of their portfolio | 8.3m $862.7m | Added +5.0m |
| Value Aligned Research Advisors, LLC 7.14% of their portfolio | 5.8m $603.2m | Added +2.5m |
| Altshuler Shaham Ltd 0.16% of their portfolio | 5.2m $8.8m | New |
| Accel Leaders 4 Associates L.P. 100.00% of their portfolio | 4.6m $475.3m | Unchanged |
| MORGAN STANLEY 0.02% of their portfolio | 3.7m $380.3m | Reduced -39.6k |
| STATE STREET CORP 0.01% of their portfolio | 3.5m $363.3m | Added +282.1k |
| Capital Research Global Investors 0.05% of their portfolio | 3.4m $348.4m | Added +591.9k |
| JANUS HENDERSON GROUP PLC 0.16% of their portfolio | 3.2m $334.3m | Added +416.7k |
| UBS Group AG 0.06% of their portfolio | 3.1m $323.7m | Reduced -1.5m |
| GOLDMAN SACHS GROUP INC 0.04% of their portfolio | 3.1m $320.0m | Added +418.9k |
| Clear Street Group Inc. 1.78% of their portfolio | 3.1m $317.4m | Reduced -453.1k |
| TWO SIGMA INVESTMENTS, LP 0.24% of their portfolio | 2.8m $290.0m | Added +2.7m |
| Accel Leaders 3 Associates L.P. 100.00% of their portfolio | 2.3m $233.7m | Unchanged |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 2.1m $215.0m | Added +43.8k |
| Rovida Investment Management Ltd 24.62% of their portfolio | 1.9m $196.3m | Added +65.0k |
| Invesco Ltd. 0.02% of their portfolio | 1.8m $183.1m | Reduced -967.4k |
| JENNISON ASSOCIATES LLC 0.12% of their portfolio | 1.7m $176.4m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.03% of their portfolio | 1.6m $161.0m | Added +90.2k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.5m $155.5m | Added +496.7k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 1.5m $134.6m | Added +160.4k |
| JANE STREET GROUP, LLC 0.16% of their portfolio | 1.5m $150.7m | Added +1.1k |
| Amundi 0.04% of their portfolio | 1.3m $139.4m | Added +128.4k |
| NVIDIA CORP 0.67% of their portfolio | 1.2m $123.5m | Unchanged |
| Legal & General Group Plc 0.03% of their portfolio | 1.2m $123.2m | Added +95.5k |
| Tree Line Advisors (Hong Kong) Ltd. 42.44% of their portfolio | 1.1m $98.7m | Unchanged |
| Kora Management LP 15.62% of their portfolio | 1.1m $109.6m | Added +203.0k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.0m $106.2m | Added +105.4k |
| GILDER GAGNON HOWE & CO LLC 1.18% of their portfolio | 951.1k $98.7m | Reduced -62.9k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.10% of their portfolio | 764.3k $79.3m | Reduced -152.2k |
| Swiss National Bank 0.04% of their portfolio | 739.2k $76.7m | Added +160.1k |
| Marex Group Ltd 0.77% of their portfolio | 713.1k $74.0m | Reduced -267.5k |
| SEI INVESTMENTS CO 0.06% of their portfolio | 655.5k $68.0m | Added +178.4k |
| DEUTSCHE BANK AG\ 0.02% of their portfolio | 614.8k $63.8m | Reduced -572 |
| LPL Financial LLC 0.02% of their portfolio | 601.3k $62.4m | Added +143.6k |
| WCM INVESTMENT MANAGEMENT, LLC 0.13% of their portfolio | 595.8k $55.0m | Added +432.5k |
| Ghisallo Capital Management LLC 1.64% of their portfolio | 575.0k $59.7m | Unchanged |
| Pictet Asset Management Holding SA 0.01% of their portfolio | 567.5k $12.6m | Reduced -9.8k |
| Anther Capital Ltd 1.49% of their portfolio | 548.2k $56.9m | First filing |
| Sumitomo Mitsui Trust Group, Inc. 0.03% of their portfolio | 517.3k $53.7m | Added +221.6k |
| Nuveen, LLC 0.01% of their portfolio | 502.7k $52.2m | Reduced -4.8k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 457.2k $47.4m | Added +144.0k |
| CITADEL ADVISORS LLC 0.03% of their portfolio | 456.7k $47.4m | Reduced -69.6k |
| DekaBank Deutsche Girozentrale 0.07% of their portfolio | 406.5k $42.9m | Unchanged |
| SEB Asset Management AB 0.07% of their portfolio | 394.0k $16.5m | First filing |
| Public Sector Pension Investment Board 0.04% of their portfolio | 389.9k $11.4m | Added +7.7k |
| Point72 Asset Management, L.P. 0.07% of their portfolio | 373.9k $38.8m | New |
| AVIVA PLC 0.04% of their portfolio | 370.6k $23.8m | Added +21.5k |
| M37 Management LP 14.47% of their portfolio | 350.0k $36.3m | New |
| Tidal Investments LLC 0.11% of their portfolio | 347.8k $36.1m | Added +65.2k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 339.5k $35.2m | Reduced -72 |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 332.2k $34.5m | Added +152.6k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.03% of their portfolio | 317.9k $29.5m | Added +2.3k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 304.4k $31.6m | Added +54.3k |
| HIMENSION CAPITAL (SINGAPORE) PTE. LTD. 2.34% of their portfolio | 293.0k $30.4m | Added +82.8k |
| Cetera Investment Advisers 0.03% of their portfolio | 292.7k $30.4m | Added +114.1k |
| SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC 1.34% of their portfolio | 280.0k $29.1m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 269.0k $27.9m | Reduced -567 |
| Woodline Partners LP 0.10% of their portfolio | 265.0k $27.5m | Added +261.1k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.02% of their portfolio | 265.0k $27.5m | Added +28.0k |
| 1832 Asset Management L.P. 0.04% of their portfolio | 260.7k $27.1m | New |
| VANGUARD ASSET MANAGEMENT, Ltd 0.02% of their portfolio | 254.1k $26.4m | First filing |
| California Public Employees Retirement System 0.02% of their portfolio | 240.4k $24.9m | Added +190.4k |
| BARCLAYS PLC 0.01% of their portfolio | 231.9k $24.1m | Reduced -75.5k |
| Mirae Asset Global Investments Co., Ltd. 0.07% of their portfolio | 231.0k $24.0m | Added +109.2k |
| CIBC WORLD MARKET INC. 0.04% of their portfolio | 221.4k $23.0m | Added +112.6k |
| LONG WALK MANAGEMENT LP 6.55% of their portfolio | 217.0k $22.5m | Reduced -77.5k |
| INVESTMENT HOUSE LLC 1.17% of their portfolio | 216.5k $22.5m | Reduced -2.4k |
| Essex LLC 3.76% of their portfolio | 205.4k $21.3m | Added +786 |
| ExodusPoint Capital Management, LP 0.21% of their portfolio | 204.1k $21.2m | Added +15.5k |
| Oak Grove Capital LLC 3.63% of their portfolio | 203.8k $21.1m | Added +19.0k |
| Verition Fund Management LLC 0.20% of their portfolio | 201.7k $20.9m | Reduced -74.3k |
| Two Seas Capital LP 0.94% of their portfolio | 196.5k $20.4m | Reduced -148.0k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 189.7k $19.7m | Added +27.2k |
| STOREBRAND ASSET MANAGEMENT AS 0.06% of their portfolio | 186.5k $19.4m | New |
| SIH Partners, LLLP 0.58% of their portfolio | 182.9k $19.0m | Added +151.0k |
| CITIGROUP INC 0.01% of their portfolio | 174.7k $18.1m | Reduced -46.5k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 173.6k $18.0m | Reduced -29.6k |
| Valliance Asset Management Ltd 14.56% of their portfolio | 171.1k $17.8m | New |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 170.2k $17.7m | Added +10.8k |
| MARSICO CAPITAL MANAGEMENT LLC 0.51% of their portfolio | 167.4k $17.4m | New |
| CENTAURUS FINANCIAL, INC. 0.81% of their portfolio | 164.9k $17.1m | Reduced -38.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 164.8k $17.1m | Reduced -7.7k |
| Allianz Asset Management GmbH 0.02% of their portfolio | 163.8k $17.0m | Reduced -83.1k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 162.1k $16.8m | First filing |
| Wedbush Fund Advisers, LLC 1.91% of their portfolio | 159.2k $16.5m | Reduced -48.0k |
| Bridgewater Associates, LP 0.07% of their portfolio | 157.1k $16.3m | Added +127.7k |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 147.3k $15.1m | Reduced -62.0k |
| Vontobel Holding Ltd. 0.05% of their portfolio | 136.8k $14.2m | Added +107.1k |
| Korea Investment CORP 0.03% of their portfolio | 131.2k $13.6m | Reduced -8.4k |
| OSAIC HOLDINGS, INC. 0.02% of their portfolio | 131.0k $13.6m | Added +11.1k |
| TCW GROUP INC 0.10% of their portfolio | 130.3k $13.5m | Added +31.5k |
| Voleon Capital Management LP 0.29% of their portfolio | 130.1k $13.5m | Added +126.4k |
| Lingotto Investment Management LLP 0.27% of their portfolio | 128.9k $13.4m | New |
| SCOGGIN MANAGEMENT LP 5.11% of their portfolio | 125.0k $13.0m | Reduced -75.0k |
| Jain Global LLC 0.16% of their portfolio | 122.8k $12.7m | New |
| Mitsubishi UFJ Trust & Banking Corp 0.03% of their portfolio | 122.4k $12.7m | Added +14.8k |
| HOWLAND CAPITAL MANAGEMENT LLC 0.48% of their portfolio | 117.5k $12.2m | Reduced -17.5k |
| Siren, L.L.C. 0.33% of their portfolio | 113.6k $11.8m | Added +37.4k |