Dave Inc. reports a joint Schedule 13G filing by two affiliated broker‑dealers that together report beneficial ownership of 613,445 shares of Class A common stock, representing 5.4% of the class. The filing notes 11,399,723 shares outstanding as of March 31, 2026. The disclosure states that G1 Execution Services, LLC and Susquehanna Securities, LLC each claim certain sole and shared voting and dispositive powers and that the filing is made pursuant to a Joint Filing Agreement.
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Insights
Two affiliated broker‑dealers report a combined 5.4% stake in Dave Inc.
The filing shows 613,445 shares beneficially owned, with G1 Execution Services and Susquehanna Securities indicating both sole and shared voting/dispositive powers per the cover page table. The filing includes a Joint Filing Agreement and specifies that certain shares are attributable to warrants and options.
Implications depend on trading by these broker‑dealer entities; subsequent Form 13D/13G amendments or Form 4s would clarify any changes. Public filings list 11,399,723 shares outstanding as of March 31, 2026, which provides scale for the disclosed stake.
Disclosure focuses on beneficial ownership, voting/dispositive allocation, and group treatment.
The report candidly states that the reporting persons may be deemed a group and disclaims cross‑beneficial ownership for shares held directly by another reporting person. It also details 8 warrants and options to buy 291,100 shares included in the reported counts.
Watch for future amendments if ownership or grouping changes; the filing attaches a Joint Filing Agreement as Exhibit 99 and is signed by the designated secretary.
Key Figures
Beneficial ownership reported:613,445 sharesPercent of class:5.4%Shares outstanding:11,399,723 shares+2 more
5 metrics
Beneficial ownership reported613,445 sharesCombined reported beneficial ownership by the two reporting persons
Percent of class5.4%Reported ownership percentage of Class A common stock
Shares outstanding11,399,723 sharesShares outstanding as of March 31, 2026
Warrants included8 shares issuableWarrants included in G1 Execution Services' reported count
Options included291,100 sharesOptions included in Susquehanna Securities' reported count
"This statement is filed by the entities listed below, who are collectively referred to herein as "Reporting Persons""
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.
Beneficial ownershipfinancial
"Amount beneficially owned: The information required by this Item 4(a) is set forth in Row 9"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Shared dispositive powerregulatory
"Shared Dispositive Power 613,445.00"
Joint Filing Agreementlegal
"Exhibit DESCRIPTION 99 Joint Filing Agreement"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Dave Inc.
(Name of Issuer)
Class A Common Stock, $0.0001 par value per share
(Title of Class of Securities)
23834J201
(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):
23834J201
1
Names of Reporting Persons
G1 Execution Services, LLC
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
ILLINOIS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
554.00
6
Shared Voting Power
613,445.00
7
Sole Dispositive Power
554.00
8
Shared Dispositive Power
613,445.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
613,445.00
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)
5.4 %
12
Type of Reporting Person (See Instructions)
BD, OO
Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services and Susquehanna Securities, LLC are affiliated independent broker-dealers, which may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.
SCHEDULE 13G
CUSIP Number(s):
23834J201
1
Names of Reporting Persons
Susquehanna Securities, LLC
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
612,891.00
6
Shared Voting Power
613,445.00
7
Sole Dispositive Power
612,891.00
8
Shared Dispositive Power
613,445.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
613,445.00
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)
5.4 %
12
Type of Reporting Person (See Instructions)
BD, OO
Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services and Susquehanna Securities, LLC are affiliated independent broker-dealers, which may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Dave Inc.
(b)
Address of issuer's principal executive offices:
1265 South Cochran Ave, Los Angeles, CA 90019
Item 2.
(a)
Name of person filing:
This statement is filed by the entities listed below, who are collectively referred to herein as "Reporting Persons" with respect to the shares of Class A Common Stock, $0.0001 par value per share (the "Shares"), of Dave Inc. (the "Company").
(i) G1 Execution Services, LLC
(ii) Susquehanna Securities, LLC
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of G1 Execution Services, LLC is:
175 W. Jackson Blvd.
Suite 1700
Chicago, IL 60604
The address of the principal business office of Susquehanna Securities, LLC is:
401 E. City Avenue
Suite 220
Bala Cynwyd, PA 19004
(c)
Citizenship:
Citizenship is set forth in Row 4 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(d)
Title of class of securities:
Class A Common Stock, $0.0001 par value per share
(e)
CUSIP Number(s):
23834J201
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:
The information required by this Item 4(a) is set forth in Row 9 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
The number of Shares reported as beneficially owned by G1 Execution Services, LLC includes 8 Shares issuable upon the exercise of warrants to purchase Shares. The number of Shares reported as beneficially owned by Susquehanna Securities, LLC includes options to buy 291,100 Shares.
The Company's Annual Report on Form 10-Q, filed on May 5, 2026, indicates that there were 11,399,723 Shares outstanding as of March 31, 2026.
(b)
Percent of class:
5.4 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by this Item 4(c)(i) is set forth in Row 5 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(ii) Shared power to vote or to direct the vote:
The information required by this Item 4(c)(ii) is set forth in Row 6 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(iii) Sole power to dispose or to direct the disposition of:
The information required by this Item 4(c)(iii) is set forth in Row 7 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(iv) Shared power to dispose or to direct the disposition of:
The information required by this Item 4(c)(iv) is set forth in Row 8 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
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.
Not Applicable
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.
G1 Execution Services, LLC
Signature:
/s/ Brian Sopinsky
Name/Title:
Brian Sopinsky, Secretary
Date:
05/13/2026
Susquehanna Securities, LLC
Signature:
/s/ Brian Sopinsky
Name/Title:
Brian Sopinsky, Secretary
Date:
05/13/2026
Exhibit Information
EXHIBIT INDEX
EXHIBIT DESCRIPTION
________ ________
99 Joint Filing Agreement
What stake do the reporting broker‑dealers hold in DAVE?
They report beneficial ownership of 613,445 shares, representing 5.4% of Class A common stock. The count includes 8 warrants and options to buy 291,100 shares as specified in the filing.
How many Dave Inc. shares were outstanding as disclosed?
The filing cites 11,399,723 shares outstanding as of March 31, 2026. That outstanding share count provides the denominator used to calculate the 5.4% ownership percentage reported.
Who filed the Schedule 13G for DAVE?
The Schedule 13G was filed jointly by G1 Execution Services, LLC (Illinois) and Susquehanna Securities, LLC (Delaware), with a Joint Filing Agreement attached as Exhibit 99 to the filing.
Do the reporting persons claim voting or dispositive power?
Yes; the cover page shows each reporting person reports certain sole voting/dispositive power amounts and shared voting/dispositive power, and the filing explains they may be deemed a group for these shares.
Are all reported shares owned directly by one entity?
No; the filing states each reporting person disclaims beneficial ownership of shares owned directly by another reporting person and describes affiliated broker‑dealer group treatment in its explanatory note.
