Pictet Asset Management Discloses 8.51% Holding in Five9 (FIVN)

Rhea-AI Filing Summary

Pictet Asset Management SA reported beneficial ownership of 6,576,147 shares of Five9, Inc., representing 8.51% of the outstanding common stock. The filing states the aggregate purchase cost was approximately USD 371,886,985, funded from institutional clients' assets and without borrowing. Pictet discloses sole voting power over 6,569,014 shares and sole dispositive power over 6,576,147 shares.

The filing describes the stake as part of Pictet's investment strategy and says the firm is engaging with Five9 on governance and sustainability matters. Pictet explicitly states it has no current plans to seek control, reserves the right to change its intentions, and reports recent buying activity on NASDAQ in June–August 2025.

Positive

• Material stake disclosed: 6,576,147 shares, representing 8.51% of Five9 common stock
• Significant voting control: sole voting power over 6,569,014 shares
• Acquisition funded without leverage: purchase cost approximately USD 371,886,985 from clients' assets, no borrowing involved
• Active engagement stated: Reporting Person intends to engage with Five9 on governance and sustainability initiatives
• Transparent recent trading: multiple NASDAQ purchases listed between June and August 2025

Negative

• None.

Insights

Financial Analyst

TL;DR: Pictet holds an 8.51% stake in Five9 acquired for ~USD 371.9M, signaling a material institutional position and active engagement.

Pictet's 8.51% stake is large enough to be material to the shareholder register and could increase the firm's influence through engagement, given it holds sole voting power on nearly all reported shares. The position was funded from client assets without leverage, and the filing lists multiple recent purchases on NASDAQ between June and August 2025. The filer disclaims any present plan to change control, framing the holding as stewardship-oriented rather than a control bid.

Corporate Governance Expert

TL;DR: A substantial passive stake with stated intent to engage on governance and sustainability, but no announced control actions.

Pictet emphasizes engagement with Five9's board and management to promote governance and sustainability practices. The filing documents discretionary management for institutional clients and clarifies there are no derivative positions or third-party arrangements. Because Pictet reserves the right to change intentions, its active engagement could lead to constructive dialogue without immediate governance upheaval, according to the disclosure.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

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)

08/06/2025

(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 6,569,014.00
8	Shared Voting Power
9	Sole Dispositive Power 6,576,147.00
10	Shared Dispositive Power

11

Aggregate amount beneficially owned by each reporting person

6,576,147.00

12

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

13

Percent of class represented by amount in Row (11)

8.5 %

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 371'886'985. 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 6,576,147 shares of Five9 Inc., which represents 8.51% of the total number of shares.
(b)	Pictet Asset Management SA has the Sole power to vote on 6,569,014 shares out of the 6,576,147 shares under management.
(c)	In the past sixty days, the following transactions have been done: Date Type Quantity Price Exchange 06.08.2025 BUYL 6088 25.8551 The NASDAQ Stock Exchange 06.08.2025 BUYL 37316 25.9873 The NASDAQ Stock Exchange 06.08.2025 BUYL 2896 25.9873 The NASDAQ Stock Exchange 06.08.2025 BUYL 330721 25.9873 The NASDAQ Stock Exchange 06.08.2025 BUYL 53961 25.8551 The NASDAQ Stock Exchange 06.08.2025 BUYL 472 25.8551 The NASDAQ Stock Exchange 05.08.2025 BUYL 2781 25.4018 The NASDAQ Stock Exchange 05.08.2025 BUYL 5843 25.2677 The NASDAQ Stock Exchange 05.08.2025 BUYL 3730 25.4646 The NASDAQ Stock Exchange 05.08.2025 BUYL 13432 25.9004 The NASDAQ Stock Exchange 05.08.2025 BUYL 646 25.4018 The NASDAQ Stock Exchange 05.08.2025 BUYL 899 25.9004 The NASDAQ Stock Exchange 05.08.2025 BUYL 119193 25.9004 The NASDAQ Stock Exchange 05.08.2025 BUYL 456 25.4645 The NASDAQ Stock Exchange 05.08.2025 BUYL 32895 25.4645 The NASDAQ Stock Exchange 05.08.2025 BUYL 52246 25.2677 The NASDAQ Stock Exchange 05.08.2025 BUYL 24238 25.4018 The NASDAQ Stock Exchange 31.07.2025 BUYL 979 27.2284 The NASDAQ Stock Exchange 29.07.2025 SELLL 1692 29.234 The NASDAQ Stock Exchange 21.07.2025 BUYL 3402 27.4689 The NASDAQ Stock Exchange 07.07.2025 BUYL 1943 27.8897 The NASDAQ Stock Exchange 07.07.2025 BUYL 239326 27.8897 The NASDAQ Stock Exchange 27.06.2025 BUYL 694 26.7961 The NASDAQ Stock Exchange 27.06.2025 BUYL 87712 26.7961 The NASDAQ Stock Exchange 26.06.2025 BUYL 83162 26.6531 The NASDAQ Stock Exchange 26.06.2025 BUYL 996 26.6531 The NASDAQ Stock Exchange 11.06.2025 BUYL 116159 29.0344 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:	Global Head of Compliance
Date:	08/11/2025

FAQ

How many Five9 (FIVN) shares does Pictet Asset Management SA report owning?

Pictet reports beneficial ownership of 6,576,147 shares, equal to 8.51% of Five9's common stock.

What was the purchase cost of Pictet's stake in Five9 (FIVN)?

The filing states the aggregate purchase cost was approximately USD 371,886,985.

Does Pictet intend to seek control of Five9 (FIVN)?

The filing states Pictet does not currently have any plans or proposals that would result in a change in control, but reserves the right to change intentions.

How was the acquisition of Five9 (FIVN) funded?

The shares were acquired on behalf of institutional clients managed on a discretionary basis; the funds came from clients' assets and did not involve financing or borrowing.

What voting and dispositive powers does Pictet report for the Five9 (FIVN) position?

Pictet reports sole voting power over 6,569,014 shares and sole dispositive power over 6,576,147 shares.

Were any recent transactions disclosed in the filing for Five9 (FIVN)?

Yes; the filing lists multiple NASDAQ trades in June–August 2025, primarily purchases, with specific entries such as 06.08.2025 BUYL 330,721 shares at 25.9873 and other buy transactions.