SCHEDULE 13G/A: Nomura Holdings and Subsidiary Disclose 3.4% Stake in Green Thumb Industries

Nomura Holdings Inc. and its subsidiary, Nomura Global Financial Products, Inc., have filed an amended Schedule 13G, disclosing a beneficial ownership of 3.4% of Green Thumb Industries Inc.'s Subordinate Voting Shares as of March 31, 2025.

Summary

• Nomura Holdings Inc. and its wholly-owned subsidiary, Nomura Global Financial Products, Inc. (NGFP), have filed an Amendment No. 2 to Schedule 13G.
• The filing reports their beneficial ownership in Green Thumb Industries Inc.'s Subordinate Voting Shares, no par value.
• As of March 31, 2025, Nomura Holdings Inc. and NGFP collectively beneficially own 7,314,633 Subordinate Voting Shares.
• This ownership represents 3.4% of the total 212,043,849 Subordinate Voting Shares outstanding as of March 31, 2025.
• The total outstanding shares figure was reported in Green Thumb Industries Inc.'s quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2025, filed with the SEC on May 8, 2025.
• The shares are primarily held by NGFP, and Nomura Holdings Inc. is deemed to beneficially own them through its subsidiary.
• The reporting persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Green Thumb Industries Inc.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing disclosing beneficial ownership, providing factual information without indicating positive or negative sentiment regarding the issuer's performance or outlook.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding the issuer's future performance or strategic direction.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing is a routine disclosure of a significant, but non-controlling, ownership stake by a major financial institution in a publicly traded company. It does not provide specific insights into broader industry trends or competitive dynamics beyond the fact of the investment.

Stakeholder Impact

• Provides transparency to shareholders and the broader market regarding significant ownership stakes held by institutional investors.
• Confirms that the stake is held for investment purposes in the ordinary course of business, not for control.

Key Dates

Keywords

Green Thumb Industries, Nomura Holdings, Nomura Global Financial Products, SEC filing, Schedule 13G, beneficial ownership, equity stake, Subordinate Voting Shares