Conifer Management’s Nebius Group N.V. NBIS Stock Holding History

Conifer Management’s Portfolio NBIS Stock Details NBIS Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q3	–	Sell	-700,000	Closed	-$38.7M	–	6
2025 Q2	$38.7M	Hold	700,000	–	–	5.04%	4
2025 Q1	$14.8M	Sell	700,000 -1,800,000	-72%	-$59.2M	2.24%	5
2024 Q4	$69.3M	Sell	2,500,000 -3,000,000	-55%	-$73.1M	8.93%	4
2024 Q3	$44M	Hold	5,500,000	–	–	5.04%	5
2024 Q2	$65.3M	Hold	5,500,000	–	–	8.01%	5
2024 Q1	$59.4M	Hold	5,500,000	–	–	6.56%	5
2023 Q4	$39.1M	Hold	5,500,000	–	–	3.79%	5
2023 Q3	$34.1M	Hold	5,500,000	–	–	3.85%	5
2023 Q2	$37.6M	Hold	5,500,000	–	–	4.12%	5
2023 Q1	$33.6M	Hold	5,500,000	–	–	4.03%	6
2022 Q4	$33.6M	Hold	5,500,000	–	–	4.09%	6
2022 Q3	$49.3M	Hold	5,500,000	–	–	7.02%	4
2022 Q2	$33.3M	Hold	5,500,000	–	–	5.04%	5
2022 Q1	$33.3M	Buy	5,500,000 +3,485,207	+173%	+$165M	3.82%	6
2021 Q4	$122M	Hold	2,014,793	–	–	8.54%	5
2021 Q3	$161M	Hold	2,014,793	–	–	11.09%	5
2021 Q2	$143M	Sell	2,014,793 -121,207	-6%	-$7.95M	9.61%	5
2021 Q1	$137M	Hold	2,136,000	–	–	8.41%	5
2020 Q4	$149M	Hold	2,136,000	–	–	9.01%	4
2020 Q3	$139M	Sell	2,136,000 -1,864,000	-47%	-$111M	9.76%	4
2020 Q2	$200M	Hold	4,000,000	–	–	13.83%	3
2020 Q1	$136M	Hold	4,000,000	–	–	10.73%	3
2019 Q4	$174M	Buy	+4,000,000	New	+$149M	8.33%	4

Other funds holding NBIS

OAG

Orbis Allan Gray Hamilton, Bermuda $23.7B AUM 65.43% 1-Year Est. Return

FAM

Fred Alger Management New York $22.8B AUM 64.63% 1-Year Est. Return

JCAM

Jericho Capital Asset Management New York $6.76B AUM 88.1% 1-Year Est. Return

AL4A

Accel Leaders 4 Associates Palo Alto, California $475M AUM 391.52% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

UBS Group Zurich, Switzerland $666B AUM 30.12% 1-Year Est. Return

Wells Fargo San Francisco, California $530B AUM 22.01% 1-Year Est. Return

Invesco Atlanta, Georgia $1.02T AUM 30.18% 1-Year Est. Return

Millennium Management New York $240B AUM 35.51% 1-Year Est. Return

Two Sigma Investments New York $124B AUM 33.93% 1-Year Est. Return

Conifer Management's NBIS Position: Q3 2025 in Review

Conifer Management sold out of Nebius Group N.V. (NBIS) in Q3 2025, closing a stake of 700,000 shares — an estimated $38.7M sold.

Conifer Management first reported a position in NBIS in Q4 2019 and held it in 23 quarters. The position peaked at $200M in Q2 2020. 572 funds tracked by Wall St. Rank hold NBIS as of Q3 2025.

Conifer Management reported no remaining Nebius Group N.V. position as of Q3 2025 after selling out during the quarter.
Conifer Management sold 700,000 Nebius Group N.V. shares in Q3 2025, an estimated $38.7M.
Conifer Management first reported a position in Nebius Group N.V. in Q4 2019 and held it in 23 quarters.
Conifer Management's Nebius Group N.V. position peaked at $200M in Q2 2020.
572 funds tracked by Wall St. Rank held Nebius Group N.V. as of Q3 2025.

Based on Conifer Management's 13F filing for Q3 2025, filed 14 Nov 2025.