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Nebula Research & Development LLC
Nebula Research & Development LLC is a New York-based hedge fund founded in 2019 by Michael Graves, now led by Suzanne Graves (Managing Member) and Prasanna Kannan (CTO). The firm is an alternative asset manager focused on quantitative trading strategies and primarily serves select institutional investors. As of 2024, Nebula manages over $2.18 billion in regulatory assets and employs about 8 staff, mostly investment professionals. The firm specializes in statistical arbitrage and systematic investment approaches using advanced technology and data analysis.
Investment Strategy
Nebula Research & Development LLC utilizes quantitative trading strategies and statistical arbitrage to construct its portfolios, leveraging advanced data analytics and systematic processes. The firm invests globally across equity markets, focusing on exploiting inefficiencies through algorithmic and data-driven approaches tailored to institutional investors. This investment philosophy aims for diversification, controlled risk exposure, and high turnover, while striving for alpha generation through technological innovation in portfolio management.
Latest 13F Filing Activity
Nebula Research & Development LLC filed their most recent 13F report on Jun 30, 2025 disclosing 923 equity positions with a total 13F market value of $1B. The fund increased holdings in Stride Inc., Fedex Corp., NRG Energy Inc. among other positions. Nebula Research & Development LLC reduced exposure to United Parcel Service Inc., Intercontinental Exchange in, Autozone Inc. among others.
Top Holdings
Equity Positions (923)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
A ALL | ALLSTATE CORP | 0.45% | $5.2M | 26,018 | $197.96 | $201.31 | +$3.6M |
W WMT | WALMART INC | 0.45% | $5.2M | 53,518 | $77.75 | $97.78 | +$1.2M |
W WRBY | WARBY PARKER INC | 0.45% | $5.2M | 238,412 | $19.92 | $21.93 | +$3.6M |
H HUBS | HUBSPOT INC | 0.44% | $5.2M | 9,389 | $639.27 | $556.63 | +$2.0M |
L LOGI | LOGITECH INTL S A | 0.44% | $5.2M | 57,972 | $84.08 | $90.13 | +$388.5K |
Industry Allocation
Investment Team (4)
| Name | Role | Location | |
|---|---|---|---|
 | Quantitative Researcher | New York, NY , United States | |
 | Quantitative Researcher | New York, NY , United States | |
 | Quantitative Researcher | New York, NY , United States | |
L Limin Wang | Chief Investment Officer | New York, NY , United States |
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