Pictet Asset Management discloses 7.38% Five9 (NASDAQ: FIVN) stake

Rhea-AI Filing Summary

Pictet Asset Management reports a significant holding in Five9, Inc. common stock on behalf of its institutional clients. It manages 5,775,895 shares, representing 7.38% of Five9’s outstanding common stock, with sole voting power over 5,768,762 shares.

Pictet acquired these shares using client assets, at a total purchase cost of about USD 342'664'719, without financing or borrowing. The firm describes the investment as part of its strategy focused on long-term strategy clarity, governance quality, financial strength, valuation, and financially material sustainability factors.

Pictet is actively engaging with Five9’s board and management to promote practices aligned with these priorities but states it has no current plans to change control or acquire shares for that purpose, while reserving the right to adjust its intentions over time.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)

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)

02/13/2026

(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 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

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, 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

How large is Pictet Asset Management’s stake in Five9 (FIVN)?

Pictet Asset Management manages 5,775,895 Five9 shares, equal to 7.38% of the company’s common stock. These shares are held in discretionary client accounts, giving Pictet significant voting power while the underlying economic benefits belong to its institutional clients.

Who actually owns the Five9 (FIVN) shares reported by Pictet Asset Management?

The Five9 shares are owned by Pictet’s institutional clients, whose assets Pictet manages on a discretionary basis. Clients receive dividends and sale proceeds, while Pictet earns agreed management and performance fees and exercises voting and investment authority over the holdings.

What is Pictet Asset Management’s investment strategy for its Five9 (FIVN) position?

Pictet cites long-term strategy clarity, governance quality, financial strength, fair valuation, and financially material sustainability risks and opportunities as key factors. It views Five9 within a broader strategy of engaging companies to enhance these areas and potentially improve long-term shareholder value.

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

Pictet states it does not currently plan any actions that would change control of Five9 and is not buying shares for that purpose. It focuses on engagement and influence through dialogue with the board and management, while reserving the right to change intentions later.

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

Pictet is actively engaging with Five9’s board and management to discuss and promote initiatives aligned with its views on strategy, governance, financial strength, valuation, and sustainability. This engagement aims to support companies in enhancing their practices and potentially improving long-term shareholder value.

Does Pictet Asset Management use derivatives or special contracts for its Five9 (FIVN) exposure?

Pictet’s exposure to Five9 is solely through direct stock holdings in client accounts. It reports no derivatives, options, or other financial instruments related to Five9, and no special agreements affecting voting or disposition beyond its ordinary discretionary asset-management authority.