Nomura discloses 4.2% stake in Bausch Health (BHC) — 15.7M shares

Nomura Holdings filed an amended Schedule 13G reporting beneficial ownership of Bausch Health Companies Inc. common shares.

Accepted by SEC EDGAR 11/14/2025 - 05:01 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Nomura Holdings filed an amended Schedule 13G reporting beneficial ownership of Bausch Health Companies Inc. common shares. Through wholly owned subsidiary Nomura Global Financial Products, Inc., the group reports beneficial ownership of 15,708,085 shares, representing 4.2% of the class.

The filing lists shared voting and dispositive power over 15,708,085 shares and no sole voting or dispositive power. The percentage is based on 370,473,221 shares outstanding as of September 30, 2025, as disclosed by the issuer. The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many BHC shares does Nomura report owning?

Nomura reports beneficial ownership of 15,708,085 common shares of Bausch Health Companies Inc.

What percentage of BHC does this stake represent?

The filing reports 4.2% of the class based on the issuer’s outstanding shares.

What share count was used to calculate the percentage?

The calculation is based on 370,473,221 shares outstanding as of September 30, 2025, per the issuer’s Form 10-Q.

Who are the reporting persons in this Schedule 13G/A for BHC (BHC)?

The reporting persons are Nomura Holdings, Inc. and Nomura Global Financial Products, Inc.

Does Nomura have voting and dispositive power over the BHC shares?

Yes. The filing lists shared voting power and shared dispositive power over 15,708,085 shares, and no sole power.

What does the certification in the filing state?

It states the securities were acquired and are held in the ordinary course of business and not to change or influence control.

What is the date of the event requiring this filing?

The date of the event is September 30, 2025.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Bausch Health Companies Inc.

(Name of Issuer)

Common Shares, No Par Value

(Title of Class of Securities)

071734107

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 071734107

1

Names of Reporting Persons

NOMURA HOLDINGS INC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

JAPAN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,708,085.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,708,085.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,708,085.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.2 %

12

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person: (1) Shared voting and dispositive power represents 15,708,085 Common Shares beneficially owned by Nomura Global Financial Products, Inc. ("NGFP"). NGFP is a wholly owned subsidiary of Nomura Holdings, Inc., which accordingly may be deemed to beneficially own the Common Shares beneficially owned by NGFP. (2) The percent of class is calculated based on 370,473,221 Common Shares outstanding as of September 30, 2025, as reported in the Issuer's quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2025 filed with the SEC on October 30, 2025.

SCHEDULE 13G

CUSIP No. 071734107

1

Names of Reporting Persons

NOMURA GLOBAL FINANCIAL PRODUCTS INC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,708,085.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,708,085.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,708,085.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.2 %

12

Type of Reporting Person (See Instructions)

BD

Comment for Type of Reporting Person: (3) The percent of class is calculated based on 370,473,221 Common Shares outstanding as of September 30, 2025, as reported in the Issuer's quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2025 filed with the SEC on October 30, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Bausch Health Companies Inc.
(b)	Address of issuer's principal executive offices: 2150 St. Elzear Blvd. West, Laval, Quebec, Canada, H7L 4A8
Item 2.
(a)	Name of person filing: Nomura Holdings, Inc. Nomura Global Financial Products, Inc.
(b)	Address or principal business office or, if none, residence: Nomura Holdings, Inc.: 13-1, Nihonbashi 1-chome, Chuo-ku, Tokyo 103-8645, Japan Nomura Global Financial Products, Inc.: Worldwide Plaza 309 West 49th Street New York, NY 10019
(c)	Citizenship: Nomura Holdings, Inc.: Japan Nomura Global Financial Products, Inc.: Delaware
(d)	Title of class of securities: Common Shares, No Par Value
(e)	CUSIP No.: 071734107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Items 5-11 of the cover pages are incorporated by reference.
(b)	Percent of class: Items 5-11 of the cover pages are incorporated by reference.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Items 5-11 of the cover pages are incorporated by reference.
	(ii) Shared power to vote or to direct the vote: Items 5-11 of the cover pages are incorporated by reference.
	(iii) Sole power to dispose or to direct the disposition of: Items 5-11 of the cover pages are incorporated by reference.
	(iv) Shared power to dispose or to direct the disposition of: Items 5-11 of the cover pages are incorporated by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit B
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

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.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

NOMURA HOLDINGS INC

Signature:	/s/ Samir Patel
Name/Title:	Samir Patel, Managing Director
Date:	11/14/2025

NOMURA GLOBAL FINANCIAL PRODUCTS INC

Signature:	/s/ Samir Patel
Name/Title:	Samir Patel, Authorized Officer
Date:	11/14/2025

Exhibit Information

Exhibit A - Joint Filing Agreement Exhibit B - Subsidiaries