Pictet Asset Management holds 7.4% stake in Five9 (NASDAQ: FIVN)

Rhea-AI Filing Summary

Pictet Asset Management filed an amended Schedule 13D reporting beneficial ownership of 5,775,895 shares of Five9, Inc. common stock, representing about 7.4% of the company. Pictet has sole voting power over 5,768,762 of these shares and acquired them for institutional clients at an approximate purchase cost of USD 342,664,719.

The firm describes itself as an investment adviser for discretionary institutional accounts and states it has no direct economic interest beyond fees. Pictet says it is actively engaging with Five9’s board and management on strategy, governance, financial strength and sustainability topics to support long-term shareholder value. It currently has no plans to seek control or propose control-changing actions, but reserves the right to change its intentions. Pictet reports only direct stock holdings, with no derivatives or special agreements affecting Five9 shares.

Insights

Equity ownership & governance analyst

Pictet reports a sizable 7.4% Five9 stake with active engagement but no stated control plans.

Pictet Asset Management discloses beneficial ownership of 5,775,895 Five9 shares, or about 7.4% of the common stock, bought for roughly USD 342,664,719. The shares are held for discretionary institutional clients, with Pictet retaining sole voting and dispositive power over essentially all of them.

The filing emphasizes an investment strategy focused on long-term strategy clarity, governance quality, financial strength, valuation and financially material sustainability factors. Pictet is engaging with Five9’s board and management to promote initiatives aligned with these priorities, positioning itself as an active steward rather than a passive holder.

Pictet states it does not currently plan to seek control or pursue transactions that would change control, and it has no derivatives or special arrangements regarding Five9 stock. However, it explicitly reserves the right to change its intentions based on ongoing evaluation of the company’s policies and practices, so future filings will be the key place where any shift in stance would appear.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

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)

04/15/2025

(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 5,768,762.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,775,895.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

5,775,895.00

12

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

13

Percent of class represented by amount in Row (11)

7.4 %

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 342'664'719. 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, 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 5,775,895 shares of Five9 Inc., which represents 7.38% of the total number of shares.
(b)	Pictet Asset management SA has the Sole power to vote on 5,768,762 shares out of the 5,775,895 shares under management.
(c)	Date Type Quantity Price Exchange 01.06.2026 BUYL 2'659.00 19.7400000 The NASDAQ Stock Exchange 02.13.2026 SELLL 120'038.00 16.7953000 The NASDAQ Stock Exchange 02.13.2026 SELLL 111'910.00 16.7738000 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:	02/17/2026

FAQ

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

Pictet Asset Management reports beneficial ownership of 5,775,895 Five9 shares, representing about 7.4% of the common stock. These shares are held for institutional clients under discretionary management, giving Pictet significant voting influence without direct economic ownership beyond management and performance fees.

How much did Pictet Asset Management pay for its Five9 (FIVN) position?

Pictet states the purchase cost of Five9 common stock is approximately USD 342,664,719. The capital came from its institutional clients’ assets, not from borrowing or financing, reflecting a large, fully funded position built on behalf of those discretionary accounts.

Does Pictet Asset Management plan to take control of Five9 (FIVN)?

Pictet expressly says it currently has no plans or proposals that would result in a change in control of Five9 and does not intend to buy additional shares for that purpose. It reserves the right to change its intentions based on ongoing engagement and evaluation of Five9’s policies and practices.

What level of voting power does Pictet have in Five9 (FIVN)?

Pictet Asset Management reports sole voting power over 5,768,762 Five9 shares and sole dispositive power over 5,775,895 shares. This means it alone decides how these shares are voted and when they are sold, while the economic benefits belong to its institutional clients.

How is Pictet Asset Management engaging with Five9 (FIVN)?

Pictet says it actively engages with Five9’s board and management on long-term strategy, governance quality, financial strength, fair valuation, and financially material sustainability risks and opportunities. The goal is to promote practices that could support improved long-term shareholder value for its clients.

Does Pictet use derivatives or special agreements for its Five9 (FIVN) exposure?

Pictet confirms its exposure to Five9 is solely through direct stock investments held by managed institutional clients. It reports no derivative positions, options, or other financial instruments, and no contracts or understandings with third parties affecting voting or disposition beyond normal discretionary asset management.