Daiwa Securities Group Inc.
US ˙ OTCPK ˙ JP3502200003

SecurityDSECF / Daiwa Securities Group Inc.
InstitutionBlackRock Variable Series Funds, Inc. - BlackRock Managed Volatility V.I. Fund Class I
Latest Disclosed Ownership6,100 shares
Latest Disclosed Value $ 43,322
BlackRock Variable Series Funds, Inc. - BlackRock Managed Volatility V.I. Fund Class I reports 21.79% decrease in ownership of DSECF / Daiwa Securities Group Inc.

On August 28, 2025 - BlackRock Variable Series Funds, Inc. - BlackRock Managed Volatility V.I. Fund Class I filed a NPORT-P form disclosing ownership of 6,100 shares of Daiwa Securities Group Inc. (US:DSECF) valued at $43,322 USD as of June 30, 2025. The entity filed a previous NPORT-P on May 27, 2025 disclosing 7,800 shares of Daiwa Securities Group Inc.. This represents a change in shares of -21.79% during the quarter. The current value of the position is $48,251 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2025-08-28 2025-06-30 NP Daiwa Securities Group EC JP3502200003 6,100 -1,700 -21.79 43 -17.31 0.0285
2025-05-27 2025-03-31 NP Daiwa Securities Group EC JP3502200003 7,800 -2,800 -26.42 53 -14.75 0.0350
2023-11-22 2023-09-30 NP Daiwa Securities Group EC JP3502200003 10,600 6,700 171.79 61 205.00 0.0368
2023-08-25 2023-06-30 NP Daiwa Securities Group EC JP3502200003 3,900 600 18.18 20 33.33 0.0118
2023-05-26 2023-03-31 NP Daiwa Securities Group EC JP3502200003 3,300 -2,600 -44.07 15 -54.55 0.0091
2022-05-25 2022-03-31 NP Daiwa Securities Group EC JP3502200003 5,900 0 0.00 33 0.00 0.0168
2022-02-25 2021-12-31 NP Daiwa Securities Group EC JP3502200003 5,900 0 0.00 33 -2.94 0.0155
2021-11-26 2021-09-30 NP Daiwa Securities Group EC JP3502200003 5,900 2,500 73.53 34 88.89 0.0157
2021-08-24 2021-06-30 NP Daiwa Securities Group EC JP3502200003 3,400 0 0.00 19 5.88 0.0085
2021-05-25 2021-03-31 NP Daiwa Securities Group EC JP3502200003 3,400 0 0.00 18 13.33 0.0080
2021-02-24 2020-12-31 NP Daiwa Securities Group EC JP3502200003 3,400 1,500 78.95 15 114.29 0.0069
2020-11-24 2020-09-30 NP Daiwa Securities Group EC JP3502200003 1,900 -2,200 -53.66 8 -53.33 0.0038
2020-05-26 2020-03-31 NP Daiwa Securities Group EC JP3502200003 4,100 4,100 16 0.0078
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.