Pictet updates Five9 (FIVN) stake, discloses 3.75% institutional holding

Rhea-AI Filing Summary

Pictet Asset Management filed Amendment No. 6 to Schedule 13D on Five9, Inc., reporting beneficial ownership of 2,872,185 common shares, equal to 3.75% of the company. These shares are managed on a discretionary basis for institutional clients, with an aggregate purchase cost of approximately USD 185,488,998.

Pictet has sole voting power over 2,865,052 shares and sole dispositive power over 2,872,185 shares. It describes the holding as part of a broader investment strategy focused on long-term strategy, governance quality, financial strength, valuation, and financially material sustainability factors, and is actively engaging with Five9’s leadership on these topics.

Pictet states it has no current plans to seek control of Five9 or acquire shares for that purpose but may seek to influence policies and practices through discussions with the board and management and reserves the right to change its intentions. Recent activity includes multiple NASDAQ trades in the last sixty days, notably several sizable sales on February 25–26, 2026.

Insights

Institutional ownership and governance analyst

Pictet holds 3.75% of Five9 and signals active but non‑control engagement.

Pictet Asset Management reports managing 2,872,185 Five9 shares, or 3.75% of outstanding stock, for institutional clients. The stake was built with about USD 185,488,998 of client assets, with Pictet retaining sole voting and dispositive power over nearly all shares.

Pictet frames this as part of an investment approach emphasizing long-term strategy, governance calibre, financial strength, fair valuation, and financially material sustainability risks and opportunities. It is “actively engaging” with Five9’s leadership to promote initiatives aligned with these themes, indicating a governance-focused, stewardship-style role rather than a purely passive holding.

The firm explicitly states it has no current plans to change control or acquire shares to gain control, but reserves the right to adjust its intentions as engagement continues. Recent NASDAQ trading over the past sixty days shows both purchases and significant sales, including large sell blocks on February 25–26, 2026. Future amendments or company disclosures may clarify whether ownership meaningfully shifts from the current 3.75% level.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 6)

Five9, Inc.

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

338307101

(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)

02/26/2026

(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. 338307101

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 2,865,052.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 2,872,185.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

2,872,185.00

12

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

13

Percent of class represented by amount in Row (11)

3.8 %

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: Five9, Inc.
(c)	Address of Issuer's Principal Executive Offices: 3001 BISHOP DRIVE, 3001 BISHOP DRIVE, SAN RAMON, CALIFORNIA , 94583.
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 Five9 Inc. on behalf of its institutional clients who are managed on a discretionary basis. The purchase cost is approximately USD 185,488,998. 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 Five9 Inc. as part of its investment strategy, 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 2,872,185 shares of Five9 Inc., which represents 3.75% of the total number of shares.
(b)	Pictet Asset management SA has the Sole power to vote on 2,865,052 shares out of the 2,872,185 shares under management.
(c)	In the past sixty days, the following transactions have been done : Trade Date Type Quantity Price Exchange 01.06.2026 BUYL 2'659 19.74 The NASDAQ Stock Exchange 02.13.2026 SELLL -111'910 16.77 The NASDAQ Stock Exchange 02.13.2026 SELLL -120'038 16.80 The NASDAQ Stock Exchange 02.19.2026 SELLL -59'046 16.65 The NASDAQ Stock Exchange 02.19.2026 SELLL -57'084 16.74 The NASDAQ Stock Exchange 02.20.2026 SELLL -14'814 19.57 The NASDAQ Stock Exchange 02.20.2026 SELLL -2'044 19.46 The NASDAQ Stock Exchange 02.20.2026 SELLL -228'367 19.46 The NASDAQ Stock Exchange 02.20.2026 SELLL -1'850 19.71 The NASDAQ Stock Exchange 02.23.2026 SELLL -742 18.57 The NASDAQ Stock Exchange 02.23.2026 SELLL -88'976 18.57 The NASDAQ Stock Exchange 02.24.2026 SELLL -167'911 18.08 The NASDAQ Stock Exchange 02.24.2026 SELLL -1'401 18.08 The NASDAQ Stock Exchange 02.24.2026 SELLL -95'361 18.49 The NASDAQ Stock Exchange 02.24.2026 SELLL -6'556 18.18 The NASDAQ Stock Exchange 02.24.2026 SELLL -27'870 18.08 The NASDAQ Stock Exchange 02.25.2026 SELLL -72'765 17.85 The NASDAQ Stock Exchange 02.25.2026 SELLL -438'271 17.85 The NASDAQ Stock Exchange 02.25.2026 SELLL -3'783 17.85 The NASDAQ Stock Exchange 02.25.2026 SELLL -2'513 17.92 The NASDAQ Stock Exchange 02.25.2026 SELLL -15'271 17.92 The NASDAQ Stock Exchange 02.26.2026 SELLL -100'402 18.33 The NASDAQ Stock Exchange 02.26.2026 SELLL -1'286 18.14 The NASDAQ Stock Exchange 02.26.2026 SELLL -154'148 18.14 The NASDAQ Stock Exchange 02.26.2026 SELLL -10'749 18.51 The NASDAQ Stock Exchange 02.26.2026 SELLL -1'345'000 18.06 The NASDAQ Stock Exchange 02.26.2026 SELLL -7'500 18.06 The NASDAQ 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 Five9 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 Five9 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 Five9 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:	02/27/2026

FAQ

What stake does Pictet Asset Management report in Five9 (FIVN)?

Pictet Asset Management reports beneficial ownership of 2,872,185 shares of Five9 common stock, representing 3.75% of the company. These shares are managed on a discretionary basis for institutional clients, with Pictet holding sole voting and dispositive power over almost all of them.

How much has Pictet Asset Management invested in Five9 (FIVN) shares?

Pictet Asset Management states that the purchase cost of its Five9 common stock holdings is approximately USD 185,488,998. The funds come from assets of its institutional clients, and Pictet indicates that no financing or borrowing was used to acquire the position.

What is Pictet Asset Management’s stated purpose for its Five9 (FIVN) investment?

Pictet says it acquired Five9 shares as part of its investment strategy, focusing on long-term strategy clarity, governance quality, financial strength, fair valuation, and sustainability factors. It is actively engaging with Five9’s board and management to promote initiatives aligned with these business and sustainability practices.

Does Pictet Asset Management seek control of Five9 (FIVN)?

Pictet explicitly states it currently has no plans or proposals that would result in a change of control at Five9 and does not intend to acquire additional shares for that purpose. However, it reserves the right to change its intentions based on ongoing engagement and evaluation of the company’s policies and practices.

Who benefits economically from Pictet Asset Management’s Five9 (FIVN) holdings?

The economic benefits belong to Pictet’s institutional clients whose assets are invested in Five9 shares. Clients receive dividends and sale proceeds in proportion to their managed assets, while Pictet’s economic interest is limited to agreed management fees and any performance-based compensation for managing those portfolios.

What recent trading activity did Pictet report in Five9 (FIVN) shares?

Pictet lists multiple NASDAQ trades over the past sixty days, including one buy of 2,659 shares and numerous sells. Notably, it reports several large sales on February 25–26, 2026, including a block of 1,345,000 shares at a price of 18.06 per share.