Nebius (NBIS): Maple Tree Capital’s Heartwood Strategy’s Best-Ever Result

Maple Tree Capital, an investment management company, released its Q3 2025 investor letter. A copy of the letter can be downloaded here. The third quarter was mixed for Maple Tree Capital. The market continued to rebound from the Liberation Day lows, while the firm’s performance was affected by the late-quarter decline of one of its largest holdings, Upstart. This resulted in the Jonagold portfolio concluding the quarter with a 13.12% loss. On the other hand, its Heartwood portfolio delivered an exceptional quarter, gaining 40.2%, driven by the strong performance of its new holdings. Heartwood’s return has exceeded 100% since its inception in 2023, greatly surpassing the S&P 500’s 82% return during the same period. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its third-quarter 2025 investor letter, Maple Tree Capital highlighted stocks such as Nebius Group N.V. (NASDAQ:NBIS). Headquartered in Amsterdam, the Netherlands, Nebius Group N.V. (NASDAQ:NBIS) is a technology company. The one-month return of Nebius Group N.V. (NASDAQ:NBIS) was -11.70%, and its shares gained 207.47% of their value over the last 52 weeks. On December 30, 2025, Nebius Group N.V. (NASDAQ:NBIS) stock closed at $85.17 per share, with a market capitalization of $21.446 billion.

Maple Tree Capital stated the following regarding Nebius Group N.V. (NASDAQ:NBIS) in its third quarter 2025 investor letter:

“In Q2 2025, Heartwood sold Krispy Kreme (DNUT) for a 72.4% loss. This created a substantial drag on the fund’s performance. We rotated the small principal left from the sale into Nebius Group N.V. (NASDAQ:NBIS) at a cost basis of $31.35, with shares currently trading for $121.80. The resulting 288% gain has not only fully offset our entire DNUT loss, but has generated incremental outperformance for the fund. This trade now stands as Heartwood’s best ever.”

Nebius Group N.V. (NASDAQ:NBIS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 65 hedge fund portfolios held Nebius Group N.V. (NASDAQ:NBIS) at the end of the third quarter, up from 45 in the previous quarter. While we acknowledge the risk and potential of Nebius Group N.V. (NASDAQ:NBIS) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Nebius Group N.V. (NASDAQ:NBIS) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

In another article, we covered Nebius Group N.V. (NASDAQ:NBIS) and shared Crossroads Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.