[SCHEDULE 13G] Semler Scientific, Inc. SEC Filing

Rhea-AI Filing Summary

Semler Scientific, Inc. (SMLR) is reported to have 787,030 shares beneficially owned by a group of affiliated reporting persons, representing 5.7% of the outstanding common stock based on 13,788,405 shares outstanding as of July 2, 2025. The filing lists five reporting entities — Capital Ventures International; Susquehanna Advisors Group, Inc.; G1 Execution Services, LLC; SIG Brokerage, LP; and Susquehanna Securities, LLC — and explains they may be deemed a group with shared voting and dispositive power. Susquehanna Securities reported inclusion of 248,900 options in its total. The filing includes addresses and certifications and is signed by Brian Sopinsky on behalf of the reporting persons.

Positive

• Aggregate disclosure of 787,030 shares (5.7%) provides clear investor transparency
• Filing clarifies group structure and voting/dispositive power allocation, including investment manager relationship
• Inclusion of 248,900 options in Susquehanna Securities count is explicitly disclosed

Negative

• None.

Insights

Securities Analyst

TL;DR: A group disclosed a 5.7% stake in SMLR, notable as a >5% position but not an acquiring-control statement.

The Schedule 13G shows a coordinated disclosure by five affiliated entities holding an aggregate 787,030 shares (5.7%) of Semler Scientific, using shared voting and dispositive power conventions typical for institutional groups. The inclusion of 248,900 options in Susquehanna Securities count is material to its reported stake. This filing follows passive investor reporting rules rather than an active acquisition statement, as certified in Item 10. For investors, the key implication is transparency of a meaningful passive stake without declared intent to influence control.

Corporate Governance Expert

TL;DR: Group disclosure clarifies voting/dispositive arrangements but disclaims control; governance impact appears limited.

The filing details the allocation of sole versus shared voting and dispositive powers among the five reporting persons, and explicitly disclaims beneficial ownership of shares held by other reporting persons. Susquehanna Advisors Group, Inc. is identified as investment manager to Capital Ventures International, explaining managerial influence over certain shares. The certification affirms the holdings are not for control purposes. From a governance perspective, the disclosure is thorough and does not signal an activist or control-seeking posture.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Semler Scientific, Inc.

(Name of Issuer)

Common Stock, $0.001 par value per share

(Title of Class of Securities)

81684M104

(CUSIP Number)

07/11/2025

(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. 81684M104

1

Names of Reporting Persons

Capital Ventures International

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 421,604.00
6	Shared Voting Power 787,030.00
7	Sole Dispositive Power 421,604.00
8	Shared Dispositive Power 787,030.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

787,030.00

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)

5.7 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP and Susquehanna Securities, LLC are affiliated independent broker-dealers which, together with Capital Ventures International and Susquehanna Advisors Group, Inc., may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person. With respect to Row 5 and Row 7 above, Susquehanna Advisors Group, Inc. is the investment manager to Capital Ventures International and as such may exercise voting and dispositive power over the shares directly owned by Capital Ventures International.

SCHEDULE 13G

CUSIP No. 81684M104

1

Names of Reporting Persons

Susquehanna Advisors Group, Inc.

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

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 787,030.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 787,030.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

787,030.00

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)

5.7 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP and Susquehanna Securities, LLC are affiliated independent broker-dealers which, together with Capital Ventures International and Susquehanna Advisors Group, Inc., may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person. With respect to Row 5 and Row 7 above, Susquehanna Advisors Group, Inc. is the investment manager to Capital Ventures International and as such may exercise voting and dispositive power over the shares directly owned by Capital Ventures International.

SCHEDULE 13G

CUSIP No. 81684M104

1

Names of Reporting Persons

G1 Execution Services, LLC

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

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,779.00
6	Shared Voting Power 787,030.00
7	Sole Dispositive Power 2,779.00
8	Shared Dispositive Power 787,030.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

787,030.00

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)

5.7 %

12

Type of Reporting Person (See Instructions)

BD, OO

Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP and Susquehanna Securities, LLC are affiliated independent broker-dealers which, together with Capital Ventures International and Susquehanna Advisors Group, Inc., may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.

SCHEDULE 13G

CUSIP No. 81684M104

1

Names of Reporting Persons

SIG Brokerage, LP

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 11,461.00
6	Shared Voting Power 787,030.00
7	Sole Dispositive Power 11,461.00
8	Shared Dispositive Power 787,030.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

787,030.00

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)

5.7 %

12

Type of Reporting Person (See Instructions)

BD, PN

Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP and Susquehanna Securities, LLC are affiliated independent broker-dealers which, together with Capital Ventures International and Susquehanna Advisors Group, Inc., may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.

SCHEDULE 13G

CUSIP No. 81684M104

1

Names of Reporting Persons

Susquehanna Securities, LLC

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 351,186.00
6	Shared Voting Power 787,030.00
7	Sole Dispositive Power 351,186.00
8	Shared Dispositive Power 787,030.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

787,030.00

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)

5.7 %

12

Type of Reporting Person (See Instructions)

BD, OO

Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP and Susquehanna Securities, LLC are affiliated independent broker-dealers which, together with Capital Ventures International and Susquehanna Advisors Group, Inc., may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Semler Scientific, Inc.
(b)	Address of issuer's principal executive offices: 51 E Campbell Ave, Suite 107-D, Campbell, CA 95008
Item 2.
(a)	Name of person filing: This statement is filed by the entities listed below, who are collectively referred to herein as "Reporting Persons," with respect to the shares of Common Stock, $0.001 par value per share (the "Shares"), of Semler Scientific, Inc. (the "Company"). (i) Capital Ventures International (ii) Susquehanna Advisors Group, Inc. (iii) G1 Execution Services, LLC (iv) SIG Brokerage, LP (v) Susquehanna Securities, LLC
(b)	Address or principal business office or, if none, residence: The address of the principal business office of Capital Ventures International is: P.O. Box 897 Windward 1, Regatta Office Park West Bay Road Grand Cayman, KY1-1103 Cayman Islands The address of the principal business office of G1 Execution Services, LLC is: 175 W. Jackson Blvd. Suite 1700 Chicago, IL 60604 The address of the principal business office of each of SIG Brokerage, LP, Susquehanna Advisors Group, Inc. and Susquehanna Securities, LLC is: 401 E. City Avenue Suite 220 Bala Cynwyd, PA 19004
(c)	Citizenship: Citizenship is set forth in Row 4 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(d)	Title of class of securities: Common Stock, $0.001 par value per share
(e)	CUSIP No.: 81684M104
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: The information required by this Item 4(a) is set forth in Row 9 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. The number of Shares reported as beneficially owned by Susquehanna Securities, LLC includes options to buy 248,900 Shares. The Company's Current Report on Form 8-K, filed on July 7, 2025, indicates there were 13,788,405 Shares outstanding as of July 2, 2025.
(b)	Percent of class: 5.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by this Item 4(c)(i) is set forth in Row 5 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
	(ii) Shared power to vote or to direct the vote: The information required by this Item 4(c)(ii) is set forth in Row 6 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
	(iii) Sole power to dispose or to direct the disposition of: The information required by this Item 4(c)(iii) is set forth in Row 7 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
	(iv) Shared power to dispose or to direct the disposition of: The information required by this Item 4(c)(iv) is set forth in Row 8 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
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 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.

Capital Ventures International

Signature:	/s/ Brian Sopinsky
Name/Title:	Brian Sopinsky, Assistant Secretary of Susquehanna Advisors Group, Inc.
Date:	09/17/2025

Susquehanna Advisors Group, Inc.

Signature:	/s/ Brian Sopinsky
Name/Title:	Brian Sopinsky, Assistant Secretary
Date:	09/17/2025

G1 Execution Services, LLC

Signature:	/s/ Brian Sopinsky
Name/Title:	Brian Sopinsky, Secretary
Date:	09/17/2025

SIG Brokerage, LP

Signature:	/s/ Brian Sopinsky
Name/Title:	Brian Sopinsky, Assistant Secretary
Date:	09/17/2025

Susquehanna Securities, LLC

Signature:	/s/ Brian Sopinsky
Name/Title:	Brian Sopinsky, Secretary
Date:	09/17/2025

Comments accompanying signature: Susquehanna Advisors Group, Inc. serves as authorized agent of Capital Ventures International pursuant to a Limited Power of Attorney, a copy of which is attached as Exhibit 24 hereto.

Exhibit Information

EXHIBIT INDEX EXHIBIT DESCRIPTION ________ ________ 24 Limited Power of Attorney 99 Joint Filing Agreement

FAQ

How many Semler Scientific (SMLR) shares does the reporting group own?

The reporting persons disclose an aggregate of 787,030 shares, representing 5.7% of the class.

Does the Schedule 13G indicate the group seeks to control SMLR?

No. The certification in Item 10 states the securities were not acquired for the purpose of changing or influencing control.

Are any derivative instruments included in the reported SMLR ownership?

Yes. The filing states that Susquehanna Securities, LLC's reported amount includes 248,900 options.

Which entities filed the Schedule 13G for SMLR?

The filers are Capital Ventures International; Susquehanna Advisors Group, Inc.; G1 Execution Services, LLC; SIG Brokerage, LP; and Susquehanna Securities, LLC.

What share count was used to calculate the 5.7% ownership in SMLR?

The percentage is based on 13,788,405 shares outstanding as of July 2, 2025, per the filing.