Nebius Group N.V.

NBIS • XNAS

Nebius Group N.V. is a publicly traded company on XNAS, led by John Boynton, with a market cap of $25.9B. As of Q3 2025, 38% of shares are held by 552 institutional investors, with Orbis Allan Gray Ltd as the largest holder at 5.13%.

Chairman of the Board and CEOJohn Boynton

Market Cap$25.9B

Employees26.4K

Websitegroup.nebius.com

Overview

Overview of institutional ownership in NBIS as of Q3 2025 with a market cap of $28.0B

All Institutions

Institutions: 552
Value Held: $10.7B
Shares Held: 95.3M
Avg Position: $19.4M
Median Position: $743.8K

Hedge Funds

Hedge Funds: 73
Value Held: $2.8B
Shares Held: 25.0M
Avg Position: $38.4M
Median Position: $5.1M

Ownership Breakdown

Institutional (non-HF)

28.19%

$7.9B

Hedge Funds

10.01%

$2.8B

Retail & Other

61.8%

$17.3B

Based on market cap of $28.0B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in NBIS as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
O Orbis Allan Gray Ltd RIA/Wealth	Don Lynn Ray Managing Partner	$1.4B 6.17% of portfolio	5.13% 12.8M shares	Q4 2024 Held for 11 months	$23.3B
F FRED ALGER MANAGEMENT INC Long Only Manager	Daniel Cayley Chung CEO	$1.1B 4.41% of portfolio	4.06% 10.1M shares	Q4 2024 Held for 11 months	$25.8B
J Jericho Capital Asset Management L.P. Hedge Fund•Long/Short	Emer O'Hanlon CFO	$517.3M 5.38% of portfolio	1.85% 4.6M shares	Q2 2025 Held for 5 months	$9.6B
Accel Leaders 4 Associates L.P. Venture Capital	Richard Henry Zamboldi General Counsel	$514.3M 100.00% of portfolio	1.84% 4.6M shares	Q4 2024 Held for 11 months	$514.3M
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$307.6M 0.02% of portfolio	1.10% 2.7M shares	Q2 2024 Held for 1y 5m	$1.65T
UBS Group AG Institution	Sergio P. Ermotti CEO	$304.7M 0.06% of portfolio	1.09% 2.7M shares	Q4 2024 Held for 11 months	$511.54B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$285.4M 0.06% of portfolio	1.02% 2.5M shares	Q4 2024 Held for 11 months	$488.61B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$272.5M 0.04% of portfolio	0.97% 2.4M shares	Q4 2024 Held for 11 months	$633.08B
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dan Michael Berkovitz Chairman	$271.4M 0.22% of portfolio	0.97% 2.4M shares	Q4 2024 Held for 11 months	$121.98B
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	Carter Mayberry Lyons CEO	$270.5M 0.44% of portfolio	0.97% 2.4M shares	Q2 2025 Held for 5 months	$62.0B

Net Capital Flow

Institutional buying and selling activity for NBIS in Q3 2025

Net Flow: +$869.0M
Buyers: 172
Sellers: 177
Total Bought: +$2.7B
Total Sold: −$1.9B
Avg Position: $23.3M

Biggest Buyers

Institution	Net Bought	Current Position
F FRED ALGER MANAGEMENT INC Long Only Manager	+$284.8M +2.5M shares	$1.1B 10.1M shares
WELLS FARGO & COMPANY/MN Institution	+$273.3M +2.4M shares	$285.4M 2.5M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$262.3M +2.3M shares	$270.5M 2.4M shares
UBS Group AG Institution	+$260.4M +2.3M shares	$304.7M 2.7M shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	+$250.4M +2.2M shares	$256.7M 2.3M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$223.0M +2.0M shares	$271.4M 2.4M shares
J Jericho Capital Asset Management L.P. Hedge Fund•Long/Short	+$185.1M +1.6M shares	$517.3M 4.6M shares
B BNP PARIBAS ARBITRAGE, SA Institution	+$175.0M +1.6M shares	$185.4M 1.7M shares
MORGAN STANLEY RIA/Wealth	+$78.4M +697.9K shares	$307.6M 2.7M shares
Wolf Hill Capital Management, LP Hedge Fund•Long/Short	+$71.6M +637.7K shares	$105.3M 937.7K shares

Biggest Sellers

Institution	Net Sold	Current Position
O Orbis Allan Gray Ltd RIA/Wealth	−$545.1M −4.9M shares	$1.4B 12.8M shares
Slate Path Capital LP Hedge Fund•Long/Short	−$217.8M −3.9M shares	Sold Off 0 shares
Invesco Ltd. ETF Provider	−$130.3M −1.2M shares	$272.5M 2.4M shares
DISCOVERY CAPITAL MANAGEMENT, LLC / CT Hedge Fund•Global Macro	−$100.4M −1.8M shares	Sold Off 0 shares
D D. E. Shaw & Co., Inc. Institution	−$90.2M −803.6K shares	$128.0M 1.1M shares
Kora Management LP Hedge Fund•Long/Short	−$87.7M −780.7K shares	$82.7M 736.2K shares
N Neuberger Berman Group LLC Institution	−$61.6M −548.4K shares	$68.4M 609.3K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	−$46.9M −418.2K shares	$41.7M 371.1K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$44.9M −400.2K shares	$48.4M 430.7K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	−$43.5M −387.7K shares	$24.5M 218.6K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited NBIS in Q3 2025

New Positions: 192
New Value: $556.5M
Exited Positions: 53
Exited Value: $489.8M

New Positions

Institution	Position Value
Ghisallo Capital Management LLC Hedge Fund•Multi-Strategy	$180.1M 1.6M shares
M MAPLELANE CAPITAL, LLC Hedge Fund•Long/Short	$45.7M 407.4K shares
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC Long Only Manager	$28.0M 249.1K shares
MARSICO CAPITAL MANAGEMENT LLC Long Only Manager	$27.7M 246.7K shares
Ardmore Road Asset Management LP Hedge Fund•Long/Short	$22.6M 201.0K shares
S SEVEN GRAND MANAGERS, LLC Hedge Fund•Multi-Strategy	$22.5M 200.0K shares
G GCIC Ltd. Institution	$21.8M 193.9K shares
C Clearline Capital LP Hedge Fund•Event Driven	$15.9M 141.3K shares
Blackstone Group L.P. Institution	$14.0M 125.0K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$11.2M 99.5K shares

Exited Positions

Institution	Previous Position
Slate Path Capital LP Hedge Fund•Long/Short	$217.8M 3.9M shares
DISCOVERY CAPITAL MANAGEMENT, LLC / CT Hedge Fund•Global Macro	$100.4M 1.8M shares
B BNP Paribas Investment Partners S.A. Institution	$43.0M 777.0K shares
C Conifer Management, L.L.C. Hedge Fund•Multi-Strategy	$38.7M 700.0K shares
M Mubadala Investment Co PJSC Institution	$29.9M 539.8K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$23.9M 432.6K shares
GGM Financials LLC RIA/Wealth	$12.4M 224.2K shares
M Maxi Investments CY Ltd Institution	$3.9M 70.7K shares
Gulf International Bank Ltd Long Only Manager	$2.8M 50.0K shares
Mount Yale Investment Advisors, LLC RIA/Wealth	$2.0M 35.6K shares

Options Activity

Institutions with the largest Call and Put options positions in NBIS as of Q3 2025

Call Positions: 49
Call Value: $2.6B
Put Positions: 42
Put Value: $2.3B

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$844.5M 75.2K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$585.3M 52.1K contracts
J JANE STREET GROUP, LLC Institution	$348.4M 31.0K contracts
W WOLVERINE TRADING, LLC Institution	$138.1M 12.5K contracts
UBS Group AG Institution	$108.3M 9.6K contracts
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$62.5M 5.6K contracts
P PEAK6 LLC Institution	$54.7M 4.9K contracts
Centiva Capital, LP Hedge Fund•Multi-Strategy	$52.7M 4.7K contracts
D D. E. Shaw & Co., Inc. Institution	$51.2M 4.6K contracts
C Cubist Systematic Strategies, LLC Institution	$44.4M 4.0K contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$515.0M 45.9K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$436.1M 38.8K contracts
J JANE STREET GROUP, LLC Institution	$326.5M 29.1K contracts
WELLS FARGO & COMPANY/MN Institution	$267.4M 23.8K contracts
C Cubist Systematic Strategies, LLC Institution	$98.5M 8.8K contracts
HBK INVESTMENTS L P Hedge Fund•Multi-Strategy	$77.8M 6.9K contracts
W WOLVERINE TRADING, LLC Institution	$68.6M 6.2K contracts
OZ MANAGEMENT LP Hedge Fund•Multi-Strategy	$56.5M 5.0K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$49.1M 4.4K contracts
L LMR Partners LLP Institution	$48.7M 4.3K contracts

Most Committed Institutions

Institutions with NBIS as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Accel Leaders 4 Associates L.P. Venture Capital	Richard Henry Zamboldi General Counsel	100.00% $514.3M	1.84% 4.6M shares	Q4 2024 Held for 11 months	$514.3M
T Tree Line Advisors Ltd. Hedge Fund•Growth	Robert Alexander Young Herries COO	34.56% $117.9M	0.43% 1.1M shares	Q4 2024 Held for 11 months	$341.2M
R Rovida Investment Management Ltd Institution	-	28.24% $246.2M	0.88% 2.2M shares	Q2 2025 Held for 5 months	$871.7M
S SCOGGIN LLC Hedge Fund•Event Driven	Todd Matthew Jablonsky CFO	11.78% $29.5M	0.11% 262.5K shares	Q4 2024 Held for 11 months	$250.2M
Lane Generational LLC RIA/Wealth	Frederick Carpenter Lane CEO	11.09% $13.4M	0.05% 119.0K shares	Q2 2025 Held for 5 months	$120.4M
LONG WALK MANAGEMENT LP Hedge Fund•Value	James Alexander Zimmerman CEO	10.74% $53.1M	0.19% 473.3K shares	Q2 2025 Held for 5 months	$494.8M
Ghisallo Capital Management LLC Hedge Fund•Multi-Strategy	Michael Walter Germino CEO	10.38% $180.1M	0.64% 1.6M shares	Q3 2025 Held for 2 months	$1.7B
Wolf Hill Capital Management, LP Hedge Fund•Long/Short	Gary Steven Lehrman Founder	9.24% $105.3M	0.38% 937.7K shares	Q2 2025 Held for 5 months	$1.1B
Kora Management LP Hedge Fund•Long/Short	Nitin Saigal CIO	8.78% $82.7M	0.30% 736.2K shares	Q4 2024 Held for 11 months	$941.8M
P PLUSTICK MANAGEMENT LLC Hedge Fund•Distressed	Thomas Johns Hill Managing Partner	6.59% $15.7M	0.06% 140.0K shares	Q4 2024 Held for 11 months	$238.5M

Hedge Fund Spotlight

Discover hedge funds investing in NBIS

TWO SIGMA INVESTMENTS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerCarter Mayberry Lyons

Portfolio Value: $62.0B
Positions: 3,252
Last Reported: Q3 2025

Sector Allocation

Position in Nebius Group N.V.

Market Value: $270.5M
Shares Held: 2.4M
Portfolio Weight: 0.44%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$680.4M	1.10%
2 Financial Select Sector SPDR Fund XLF	ETF ETF	$582.6M	0.94%
3 Consumer Staples Select Sector SPDR Fund XLP	ETF ETF	$489.6M	0.79%