Institutional Manager · CIK 0001163653

NOMURA HOLDINGS INC

TOKYO, M0 · File #028-10594

Latest AUM

$75.14B

Positions

2,405

Top-10 Concentration

68.8%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
NEW	ECHOSTAR CORP	SATS	+176,923,845	+$19.23B	$0
ADD	SPDR S&P 500 ETF TR	SPY	+3,834,900	+$2.62B	+$157,400
REDUCE	TESLA INC	TSLA	-3,766,800	-$1.69B	+$40.4M
ADD	META PLATFORMS INC	META	+1,185,200	+$782.3M	-$3.3M
REDUCE	PEPSICO INC	PEP	-3,980,000	-$571.2M	+$12.4M
ADD	MICRON TECHNOLOGY INC	MU	+1,313,900	+$375.0M	+$5.3M
ADD	ISHARES TR	464288513	+3,710,000	+$299.1M	-$224,000
REDUCE	ISHARES TR	464287655	-1,037,800	-$255.5M	+$13.1M
ADD	PALANTIR TECHNOLOGIES INC	PLTR	+1,355,600	+$241.0M	-$7.1M
REDUCE	PHILIP MORRIS INTL INC	718172109	-1,449,172	-$232.4M	-$2.6M

Sector Allocation

Communication Services

32.7%$24.56B

Technology

17.3%$12.97B

Consumer Discretionary

7.6%$5.73B

7.0%$5.24B

2.6%$1.97B

2.2%$1.67B

1.3%$993.9M

0.9%$647.6M

0.5%$347.5M

0.4%$329.4M

0.3%$201.1M

Filing History

Feb 17, 202613F COMBINATION REPORTQ/E Dec 20252,405 pos · $75.14B
Nov 14, 202513F HOLDINGS REPORTQ/E Sep 20252,495 pos · $64.57B
Aug 18, 202513F HOLDINGS REPORT (Amended)Q/E Jun 20251,702 pos · $47.99B
Aug 14, 202513F HOLDINGS REPORTQ/E Jun 20252,284 pos · $60.46B
May 15, 202513F HOLDINGS REPORTQ/E Mar 20252,268 pos · $53.57B
Feb 14, 202513F HOLDINGS REPORTQ/E Dec 20242,650 pos · $74.09B
Jan 13, 202513F HOLDINGS REPORT (Amended)Q/E Dec 20241,884 pos · $43.58B
Nov 14, 202413F HOLDINGS REPORTQ/E Sep 20241,884 pos · $43.58B
Aug 14, 202413F HOLDINGS REPORTQ/E Jun 20242,136 pos · $52.17B
May 15, 202413F HOLDINGS REPORTQ/E Mar 20241,871 pos · $40.05B
Mar 27, 202413F HOLDINGS REPORT (Amended)Q/E Mar 20247 pos · $9.2M
Mar 27, 202413F HOLDINGS REPORT (Amended)Q/E Mar 20242,080 pos · $36.89B
Nov 14, 202313F HOLDINGS REPORTQ/E Dec 20231,583 pos · $35.19B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	ECHOSTAR CORP	SATS	176,923,845	$19.23B	37.00%
2	META PLATFORMS INC	META	5,086,900	$3.36B	6.46%
3	SPDR S&P 500 ETF TR	SPY	3,844,900	$2.62B	5.04%
4	NVIDIA CORPORATION	NVDA	11,098,600	$2.07B	3.98%
5	TESLA INC	TSLA	4,311,100	$1.94B	3.73%
6	ALIBABA GROUP HLDG LTD	BBAAY	12,605,728	$1.85B	3.56%
7	ALPHABET INC	GOOG	4,216,400	$1.32B	2.54%
8	INVESCO QQQ TR	IVZ	2,122,000	$1.30B	2.51%
9	NVIDIA CORPORATION	NVDA	6,062,099	$1.13B	2.18%
10	ALPHABET INC	GOOG	2,912,400	$911.6M	1.75%
11	MICROSOFT CORP	MSFT	1,822,400	$881.3M	1.70%
12	TAIWAN SEMICONDUCTOR MFG LTD	874039100	2,870,000	$872.2M	1.68%
13	META PLATFORMS INC	META	1,229,400	$811.5M	1.56%
14	INVESCO QQQ TR	IVZ	1,151,500	$707.4M	1.36%
15	INVESCO QQQ TR	IVZ	1,115,000	$685.0M	1.32%
16	SPDR GOLD TR	GLD	1,474,600	$584.4M	1.12%
17	PEPSICO INC	PEP	4,038,000	$579.5M	1.12%
18	TESLA INC	TSLA	1,189,378	$534.9M	1.03%
19	ISHARES TR	464287655	2,081,300	$512.3M	0.99%
20	PALANTIR TECHNOLOGIES INC	PLTR	2,870,300	$510.2M	0.98%