Nomura Holdings, Inc. and Nomura Global Financial Products, Inc. report shared beneficial ownership of 3,286,664 shares of Kartoon Studios, Inc. common stock representing 5.8% of the class as of March 31, 2026. The filing cites 56,336,035 shares outstanding as of March 31, 2026 per the company's Form 10-K.
The Schedule 13G lists shared voting and dispositive power through Nomura Global Financial Products, Inc., a subsidiary of Nomura Holdings, and is filed under the joint filing agreement signed by an authorized officer on May 15, 2026.
Positive
None.
Negative
None.
Insights
Nomura reports a passive 5.8% stake in Kartoon Studios as of March 31, 2026.
Nomura Holdings and its subsidiary report shared voting and dispositive power over 3,286,664 shares. The filing uses the issuer's reported 56,336,035 shares outstanding as the basis for the percent calculation.
Ownership is presented as shared through Nomura Global Financial Products, Inc.; cash‑flow treatment and any planned disposition are not stated in the excerpt. Subsequent filings would show changes to this position.
Key Figures
Shares beneficially owned:3,286,664 sharesPercent of class:5.8%Shares outstanding (issuer):56,336,035 shares
3 metrics
Shares beneficially owned3,286,664 sharesreported as held with shared power as of March 31, 2026
Percent of class5.8%calculated using 56,336,035 shares outstanding as of March 31, 2026
Shares outstanding (issuer)56,336,035 sharesshares outstanding as of March 31, 2026 per issuer Form 10-K
"The filing is a Schedule 13G reporting beneficial ownership of common stock"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
Shared dispositive powerregulatory
"Shared dispositive power 3,286,664 shares reported for Nomura Global Financial Products, Inc."
Beneficially ownedfinancial
"Shares of Common Stock beneficially owned by Nomura Global Financial Products, Inc."
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Kartoon Studios, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
37229T509
(CUSIP Number)
03/31/2026
(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)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
37229T509
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
3,286,664.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,286,664.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,286,664.00
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)
5.8 %
12
Type of Reporting Person (See Instructions)
HC
Comment for Type of Reporting Person: (1) Shared voting and dispositive power represents 3,286,664 shares of Common Stock 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 shares of Common Stock beneficially owned by NGFP.
(2) The percent of class is calculated based on 56,336,035 shares of Common Stock outstanding as of March 31, 2026, as reported in the Issuer's annual report on Form 10-K for the fiscal year ended December 31, 2025 filed with the SEC on March 31, 2026.
SCHEDULE 13G
CUSIP Number(s):
37229T509
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
3,286,664.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,286,664.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,286,664.00
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)
5.8 %
12
Type of Reporting Person (See Instructions)
BD
Comment for Type of Reporting Person: (3) The percent of class is calculated based on 56,336,035 shares of Common Stock outstanding as of March 31, 2026, as reported in the Issuer's annual report on Form 10-K for the fiscal year ended December 31, 2025 filed with the SEC on March 31, 2026.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Kartoon Studios, Inc.
(b)
Address of issuer's principal executive offices:
190 N. Canon Drive, 4th Fl., Beverly Hills, California 90210
Item 2.
(a)
Name of person filing:
Nomura Holdings, Inc.
Nomura Global Financial Products, Inc.
This Schedule 13G excludes securities beneficially owned, if any, by certain subsidiaries of Nomura Holdings Inc. whose beneficial ownership of securities are disaggregated from that of Nomura Holdings Inc. in accordance with SEC Release No. 34-39538 (January 12, 1998).
(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 Stock, par value $0.001 per share
(e)
CUSIP Number(s):
37229T509
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.
Not Applicable
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:
05/15/2026
NOMURA GLOBAL FINANCIAL PRODUCTS INC
Signature:
/s/ Samir Patel
Name/Title:
Samir Patel, Authorized Officer
Date:
05/15/2026
Exhibit Information
Exhibit A - Joint Filing Agreement
Exhibit B - Subsidiaries
What stake does Nomura hold in Kartoon Studios (TOON)?
Nomura reports beneficial ownership of 3,286,664 shares, equal to 5.8% of the common stock based on 56,336,035 shares outstanding as of March 31, 2026 cited in the filing.
Which Nomura entity holds the shares reported in the Schedule 13G?
The filing attributes shared voting and dispositive power to Nomura Global Financial Products, Inc., a wholly owned subsidiary of Nomura Holdings, Inc., which may be deemed to beneficially own the shares.
What date is used to calculate the percent of class?
The percent of class is calculated using 56,336,035 shares outstanding as of March 31, 2026, as reported in Kartoon Studios' annual report on Form 10-K filed March 31, 2026.
Does the Schedule 13G indicate Nomura will sell or buy more shares?
The Schedule 13G excerpt lists ownership and power details only; it does not state any planned purchases or sales or describe cash flows related to the position.
When was the Schedule 13G signed by Nomura's representative?
The joint filing agreement and Schedule 13G were signed by Samir Patel, authorized officer, on May 15, 2026, as indicated in the filing excerpt.
