Pictet discloses 5.1% Dynatrace (NYSE: DT) stake and active engagement

Rhea-AI Filing Summary

Pictet Asset Management SA, a Swiss investment adviser, has filed a Schedule 13D reporting beneficial ownership of 15,505,360 shares of Dynatrace, Inc. common stock, representing 5.1% of the class. Pictet has sole voting power over 12,431,141 shares and sole dispositive power over the full 15,505,360 shares, all held in discretionary accounts for its institutional clients.

Pictet states that the shares were acquired on behalf of clients as part of its investment strategy, at an approximate purchase cost of USD 788,990,022, using client assets without borrowing. It is actively engaging with Dynatrace on long‑term strategy, governance, financial strength, valuation, and sustainability topics, but indicates it currently has no plans to change control of the company, while reserving the right to adjust its intentions over time.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

Dynatrace, Inc.

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

268150109

(CUSIP Number)

Mathieu Cornu
Route des Acacias 60,
Geneva, V8, 1211
0041583234506

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

01/15/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 268150109

1

Name of reporting person

PICTET ASSET MANAGEMENT SA

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

SWITZERLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 12,431,141.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 15,505,360.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

15,505,360.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.1 %

14

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: COMMON STOCK
(b)	Name of Issuer: Dynatrace, Inc.
(c)	Address of Issuer's Principal Executive Offices: 1601 TRAPELO ROAD, SUITE 116, WALTHAM, MASSACHUSETTS , 02451.
Item 2.	Identity and Background
(a)	Pictet Asset Management SA
(b)	60 ROUTE DES ACACIAS GENEVA 73 1211 SWITZERLAND
(c)	Investment Adviser
(d)	The Reporting Person has not been, during the last five years, convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	The Reporting Person has not been, during the last five years, a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding of any violation with respect to such laws.
(f)	SWITZERLAND
Item 3.	Source and Amount of Funds or Other Consideration
	The Reporting Person acquired the shares of common stock of Dynatrace Inc. on behalf of its institutional clients who are managed on a discretionary basis. The purchase cost is approximately USD 788,990,022. The source of the funds comes from our institutional clients' assets The funds used for the acquisition did not involve any financing or borrowing.
Item 4.	Purpose of Transaction
	The Reporting Person acquired shares of Dynatrace Inc. as part of its investment strategy, which includes considering the clarity and robustness of the issuer's long-term strategy; the functioning and calibre of governance structures and effective leadership; the financial strength and performance of issuers and the fair valuation of underlying securities; and financially-material sustainability risks & opportunities. The Reporting Person is therefore actively engaging with the Issuer to discuss and promote initiatives that align with these business practices. This engagement is part of the Reporting Person's broader strategy to support companies in enhancing their approach, thereby potentially improving long-term shareholder value. As such, the Reporting Person may seek to influence the Issuer's policies and practices through discussions with the Boards and management of the companies in which we invest. The Reporting Person does not currently have any plans or proposals that would result in a change in control of the Issuer, nor does it intend to acquire additional shares for the purpose of gaining control. However, the Reporting Person reserves the right to change its intentions and take any actions that it deems appropriate in light of its ongoing engagement and evaluation of the Issuer's policies and practices.
Item 5.	Interest in Securities of the Issuer
(a)	Pictet Asset Management SA manages 15,505,360 shares of Dynatrace Inc., which represents 5.1% of the total number of shares.
(b)	Pictet Asset Management SA has the Sole power to vote on 12,431,141 shares out of the 15,505,360 shares under management.
(c)	In the past sixty days, the following transactions have been done: Date Type Quantity Price Exchange 15.01.2026 BUY 252 39.38 New York Stock Exchange 15.01.2026 SELL 1270 40.28 New York Stock Exchange 15.01.2026 SELL 190 40.28 New York Stock Exchange 15.01.2026 BUY 912 39.65 New York Stock Exchange 15.01.2026 BUY 100203 39.65 New York Stock Exchange 15.01.2026 BUY 382 39.68 New York Stock Exchange 15.01.2026 BUY 19718 39.68 New York Stock Exchange 15.01.2026 BUY 392 40.27 New York Stock Exchange 15.01.2026 BUY 21300 40.27 New York Stock Exchange 15.01.2026 BUY 2198 40.32 New York Stock Exchange 15.01.2026 BUY 295132 40.32 New York Stock Exchange 15.01.2026 BUY 1076 39.98 New York Stock Exchange 15.01.2026 BUY 125039 39.98 New York Stock Exchange 13.01.2026 SELL 822 41.61 New York Stock Exchange 13.01.2026 BUY 75798 41.52 New York Stock Exchange 12.01.2026 SELL 866 42.30 New York Stock Exchange 07.01.2026 BUY 232587 43.62 New York Stock Exchange 06.01.2026 SELL 225 42.71 New York Stock Exchange 06.01.2026 SELL 18665 42.47 New York Stock Exchange 05.01.2026 BUY 3040 42.79 New York Stock Exchange 05.01.2026 BUY 836 42.63 New York Stock Exchange 31.12.2025 SELL 9728 43.70 New York Stock Exchange 30.12.2025 SELL 1313 44.10 New York Stock Exchange 23.12.2025 BUY 1593 44.06 New York Stock Exchange 23.12.2025 SELL 15735 44.24 New York Stock Exchange 23.12.2025 SELL 428 44.41 New York Stock Exchange 23.12.2025 SELL 1081 44.41 New York Stock Exchange 23.12.2025 BUY 1192 44.41 New York Stock Exchange 22.12.2025 BUY 3089 44.43 New York Stock Exchange 22.12.2025 BUY 147 44.60 New York Stock Exchange 19.12.2025 SELL 104 44.18 New York Stock Exchange 19.12.2025 SELL 750 44.18 New York Stock Exchange 19.12.2025 SELL 5844 44.23 New York Stock Exchange 19.12.2025 SELL 731 44.23 New York Stock Exchange 19.12.2025 BUY 8899 44.17 New York Stock Exchange 18.12.2025 SELL 334 44.06 New York Stock Exchange 17.12.2025 BUY 4741 43.91 New York Stock Exchange 17.12.2025 SELL 404 43.89 New York Stock Exchange 17.12.2025 BUY 101858 43.91 New York Stock Exchange 15.12.2025 SELL 8791 44.38 New York Stock Exchange 12.12.2025 SELL 1133 45.63 New York Stock Exchange 11.12.2025 SELL 1666 45.53 New York Stock Exchange 11.12.2025 SELL 107 45.53 New York Stock Exchange 11.12.2025 SELL 17498 45.55 New York Stock Exchange 10.12.2025 SELL 402 45.27 New York Stock Exchange 10.12.2025 SELL 6188 45.52 New York Stock Exchange 09.12.2025 SELL 90 44.65 New York Stock Exchange 08.12.2025 SELL 765 44.35 New York Stock Exchange 05.12.2025 BUY 148 44.45 New York Stock Exchange 05.12.2025 BUY 123 44.24 New York Stock Exchange 04.12.2025 BUY 1193 44.79 New York Stock Exchange 03.12.2025 BUY 429 44.64 New York Stock Exchange 02.12.2025 SELL 128 44.93 New York Stock Exchange 02.12.2025 SELL 638 44.93 New York Stock Exchange 02.12.2025 BUY 305 44.90 New York Stock Exchange 02.12.2025 SELL 491 44.72 New York Stock Exchange 01.12.2025 BUY 1716 44.63 New York Stock Exchange 28.11.2025 SELL 381 44.67 New York Stock Exchange 28.11.2025 BUY 749 44.56 New York Stock Exchange 28.11.2025 SELL 780 44.36 New York Stock Exchange 25.11.2025 SELL 262 44.45 New York Stock Exchange 24.11.2025 BUY 1607 43.87 New York Stock Exchange 24.11.2025 BUY 307 43.61 New York Stock Exchange 20.11.2025 BUY 635 43.44 New York Stock Exchange 19.11.2025 BUY 531 45.29 New York Stock Exchange 18.11.2025 BUY 426415 46.36 New York Stock Exchange 18.11.2025 BUY 604 44.99 New York Stock Exchange 17.11.2025 SELL 325 46.08 New York Stock Exchange 17.11.2025 SELL 30978 46.45 New York Stock Exchange
(d)	The securities reported herein come from the assets of our institutional clients who are managed by the Reporting Person on a discretionary basis. Consequently, our clients have the right to receive dividends and any proceeds from the sale of the Issuer's securities, in proportion to their respective managed assets. The Reporting Person itself does not have any direct economic interest in the dividends or sale proceeds from the securities of Dynatrace Inc., other than its entitlement to management fees and / or performance-based compensation, as agreed upon with its clients. The Reporting Person's role is limited to managing the investments in accordance with the investment objectives and strategies set forth by each of its institutional clients.
(e)	Not applicable
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	The Reporting Person's exposure to Dynatrace Inc. is solely through direct stock investments held by its managed institutional clients. There are no contracts, arrangements, understandings, or relationships with any third parties regarding the securities of Dynatrace Inc., other than those arising from the ordinary course of discretionary management of our client assets. The Reporting Person does not have any derivative positions, options, or other financial instruments related to the securities of the Issuer. Furthermore, there are no agreements or understandings that would influence the voting or disposition of these securities beyond the Reporting Person's discretionary investment authority as an asset manager.
Item 7.	Material to be Filed as Exhibits.
	N/A

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.

PICTET ASSET MANAGEMENT SA

Signature:	Karine VALTANEN
Name/Title:	Karine VALTANEN Global Head of Compliance
Date:	01/16/2026

FAQ

What stake in Dynatrace (DT) does Pictet Asset Management report?

Pictet Asset Management SA reports beneficial ownership of 15,505,360 shares of Dynatrace common stock, representing 5.1% of the outstanding class.

How much voting and dispositive power does Pictet have over Dynatrace (DT) shares?

Pictet Asset Management SA has sole voting power over 12,431,141 shares and sole dispositive power over 15,505,360 shares of Dynatrace common stock.

How were Pictet’s Dynatrace (DT) share purchases funded and what was the cost?

The shares were acquired on behalf of Pictet’s institutional clients using their assets, with no financing or borrowing, at an approximate purchase cost of USD 788,990,022.

Why did Pictet Asset Management file a Schedule 13D on Dynatrace (DT)?

Pictet filed a Schedule 13D because it holds more than 5% of Dynatrace and pursues an active engagement strategy on long‑term strategy, governance, financial performance, valuation, and sustainability topics.

Does Pictet intend to seek control of Dynatrace (DT)?

Pictet Asset Management SA states it does not currently plan any actions that would result in a change in control of Dynatrace and does not intend to buy additional shares for the purpose of gaining control, though it reserves the right to change its intentions.

Who ultimately benefits economically from the Dynatrace (DT) shares managed by Pictet?

The Dynatrace shares are held in discretionary accounts for Pictet’s institutional clients, who are entitled to dividends and sale proceeds. Pictet’s economic interest is limited to agreed management and performance fees.

Does Pictet use derivatives or special arrangements for its Dynatrace (DT) position?

Pictet states it holds direct stock investments only for its clients, with no derivatives, options, or other financial instruments or special agreements affecting voting or disposition beyond normal discretionary management.