Schedule 13G/A: Toscafund and Tosca Report Stakes in Nexxen

Rhea-AI Filing Summary

This Schedule 13G/A reports ownership stakes in Nexxen International Ltd. (NEXN) by a group of related reporting persons. Toscafund Asset Management LLP, Toscafund Limited, Old Oak Holdings Limited and Martin Hughes each report beneficial ownership of 4,292,984 shares (7.3% of the class), reflecting shared voting and dispositive power. Tosca Opportunity reports beneficial ownership of 2,859,401 shares (4.9%), also with shared voting and dispositive power. The filing states the securities are held by advisory clients of Toscafund Asset Management LLP and includes the usual disclaimer that each reporting person disclaims beneficial ownership except to the extent of pecuniary interest.

Positive

• Material institutional disclosure: Toscafund-affiliated reporting persons each report a 7.3% stake (4,292,984 shares), providing transparency on significant ownership.
• Clarity on voting/dispositive power: The filing clearly states that reported positions reflect shared voting and dispositive power rather than sole control.
• Advisory-client holdings identified: The securities are reported as owned by advisory clients of Toscafund Asset Management LLP, clarifying the capacity in which the firm holds the shares.

Negative

• None.

Insights

Financial Analyst

TL;DR: Institutional stake disclosed: Toscafund entities collectively report a >7% stake, signalling a meaningful position but no stated change of control intent.

The filing shows Toscafund-affiliated entities and individuals hold a material 7.3% position each (4,292,984 shares reported) with shared voting and dispositive power, while Tosca Opportunity holds 4.9% (2,859,401 shares). All reported securities are held in advisory client accounts per the filing, indicating investment exposure rather than an asserted direct control position. For investors, this is a transparency disclosure of sizeable institutional ownership without any expressed activist or control purpose in the statement.

Corporate Governance Expert

TL;DR: Disclosure reflects coordinated ownership among related parties; no explicit governance actions or group dissolution noted.

The schedule identifies multiple related reporting persons sharing voting and dispositive power over the same share blocks, which may warrant monitoring for coordinated voting at shareholder meetings. Item disclosures indicate the holders assert the shares are held in the ordinary course of business and not for the purpose of changing control. The filing also attaches customary disclaimers and refers to an exhibit for subsidiary identification, consistent with transparency and regulatory compliance.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

Nexxen International Ltd.

(Name of Issuer)

Ordinary Shares, par value NIS 0.01

(Title of Class of Securities)

89484T104

(CUSIP Number)

06/30/2025

(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)

SCHEDULE 13G

CUSIP No. 89484T104

1

Names of Reporting Persons

Tosca Opportunity

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,859,401.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,859,401.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,859,401.00

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)

4.9 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 89484T104

1

Names of Reporting Persons

Toscafund Asset Management LLP

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

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,292,984.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,292,984.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,292,984.00

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)

7.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 89484T104

1

Names of Reporting Persons

Toscafund Limited

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

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,292,984.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,292,984.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,292,984.00

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)

7.3 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 89484T104

1

Names of Reporting Persons

Old Oak Holdings Limited

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

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,292,984.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,292,984.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,292,984.00

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)

7.3 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 89484T104

1

Names of Reporting Persons

Martin Hughes

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

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,292,984.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,292,984.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,292,984.00

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)

7.3 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Nexxen International Ltd.
(b)	Address of issuer's principal executive offices: 82 Yigal Alon Street, Tel Aviv, 6789124, Israel
Item 2.
(a)	Name of person filing: Tosca Opportunity Toscafund Asset Management LLP Toscafund Limited Old Oak Holdings Limited Martin Hughes
(b)	Address or principal business office or, if none, residence: Tosca Opportunity Ugland House, Box 309 Grand Cayman, Cayman Islands KY1-1104 Toscafund Asset Management LLP 5th Fl, Ferguson House, 15 Marylebone Rd London, United Kingdom NW1 5JD Toscafund Limited 5th Fl, Ferguson House, 15 Marylebone Rd London, United Kingdom NW1 5JD Old Oak Holdings Limited 5th Fl, Ferguson House, 15 Marylebone Rd London, United Kingdom NW1 5JD Martin Hughes c/o Toscafund Asset Management LLP 5th Fl, Ferguson House, 15 Marylebone Rd London, United Kingdom NW1 5JD
(c)	Citizenship: Tosca Opportunity - Cayman Islands Toscafund Asset Management LLP - United Kingdom Toscafund Limited - United Kingdom Old Oak Holdings Limited - United Kingdom Martin Hughes - United Kingdom
(d)	Title of class of securities: Ordinary Shares, par value NIS 0.01
(e)	CUSIP No.: 89484T104
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: Tosca Opportunity - 2,859,401 Toscafund Asset Management LLP - 4,292,984 Toscafund Limited - 4,292,984 Old Oak Holdings Limited - 4,292,984 Martin Hughes - 4,292,984
(b)	Percent of class: Tosca Opportunity - 4.9% Toscafund Asset Management LLP - 7.3% Toscafund Limited - 7.3% Old Oak Holdings Limited - 7.3% Martin Hughes - 7.3%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Tosca Opportunity - 0 Toscafund Asset Management LLP - 0 Toscafund Limited - 0 Old Oak Holdings Limited - 0 Martin Hughes - 0
	(ii) Shared power to vote or to direct the vote: Tosca Opportunity - 2,859,401 Toscafund Asset Management LLP - 4,292,984 Toscafund Limited - 4,292,984 Old Oak Holdings Limited - 4,292,984 Martin Hughes - 4,292,984
	(iii) Sole power to dispose or to direct the disposition of: Tosca Opportunity - 0 Toscafund Asset Management LLP - 0 Toscafund Limited - 0 Old Oak Holdings Limited - 0 Martin Hughes - 0
	(iv) Shared power to dispose or to direct the disposition of: Tosca Opportunity - 2,859,401 Toscafund Asset Management LLP - 4,292,984 Toscafund Limited - 4,292,984 Old Oak Holdings Limited - 4,292,984 Martin Hughes - 4,292,984
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. All of the securities reported in this Schedule 13G are directly owned by advisory clients of Toscafund Asset Management LLP. None of those advisory clients or accounts may be deemed to beneficially own more than 5% of the class, except as reported herein.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Please see Exhibit B attached hereto.
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.

Tosca Opportunity

Signature:	/s/ Jochen Grossman
Name/Title:	Jochen Grossman/Director
Date:	08/14/2025

Toscafund Asset Management LLP

Signature:	/s/ Nick Emery
Name/Title:	Nick Emery/Authorized Person
Date:	08/14/2025

Toscafund Limited

Signature:	/s/ Oliver Booth
Name/Title:	Oliver Booth/Authorized Person
Date:	08/14/2025

Old Oak Holdings Limited

Signature:	/s/ Martin McKay
Name/Title:	Martin McKay/Authorized Person
Date:	08/14/2025

Martin Hughes

Signature:	/s/ Martin Hughes
Name/Title:	Martin Hughes
Date:	08/14/2025

Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.

FAQ

What stake does Toscafund report in Nexxen (NEXN)?

Toscafund Asset Management LLP, Toscafund Limited, Old Oak Holdings Limited and Martin Hughes each report beneficial ownership of 4,292,984 shares (7.3% of the class) with shared voting and dispositive power.

How many shares does Tosca Opportunity report owning in NEXN?

Tosca Opportunity reports beneficial ownership of 2,859,401 shares (4.9% of the class), with shared voting and dispositive power.

Are these holdings held directly or on behalf of clients?

The filing states all reported securities are directly owned by advisory clients of Toscafund Asset Management LLP, and none of those clients (except as reported) beneficially own more than 5%.

Do the filers state any intent to change or influence control of Nexxen (NEXN)?

No. The certification in the filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.

Do the reporting persons claim sole voting or dispositive power over the shares?

No. The filing shows 0 sole voting power and 0 sole dispositive power for the reporting persons; the powers reported are shared.