SCHEDULE: Artisan Partners Discloses 7.3% Stake in Radware

Artisan Partners Asset Management Inc. and its affiliates have reported a 7.3% beneficial ownership stake in Radware Ltd. as of September 30, 2025.

Summary

• Artisan Partners Asset Management Inc., along with its affiliates Artisan Partners Holdings LP, Artisan Investments GP LLC, and Artisan Partners Limited Partnership, collectively hold a 7.3% beneficial ownership in Radware Ltd.
• The aggregate amount beneficially owned by these reporting persons is 3,130,252 Ordinary Shares.
• This ownership percentage is based on 42,686,534 shares of Radware Ltd. outstanding as of March 21, 2025.
• Artisan Partners has shared voting power over 2,780,048 shares and shared dispositive power over 3,130,252 shares.
• The filing indicates that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Radware Ltd.

Sentiment

Score: 7

Explanation: The disclosure of a significant 7.3% passive stake by a reputable institutional investor like Artisan Partners is generally viewed positively by the market, signaling confidence in the company's value and prospects.

Positives

• A significant institutional stake of 7.3% by Artisan Partners, a well-known investment adviser, can be interpreted as a vote of confidence in Radware Ltd.'s long-term prospects.
• The passive nature of the investment, as indicated by the 13G filing, suggests a belief in the company's current management and strategic direction without seeking active control.

Future Outlook

This filing does not contain forward-looking statements or guidance from Radware Ltd. or Artisan Partners regarding the issuer's future performance.

Industry Context

The filing reflects a common practice in the financial industry where large institutional investors, such as Artisan Partners, acquire significant, passive stakes in publicly traded companies like Radware Ltd. These filings provide transparency into major ownership positions, which can influence market perception and investor sentiment.

Comparison to Industry Standards

• Artisan Partners is a prominent global investment management firm. Their investment in Radware Ltd. aligns with typical institutional investment strategies focused on long-term value creation in technology and cybersecurity sectors.
• A 7.3% stake is a substantial position for an institutional investor, often indicating a high conviction in the company's fundamentals, similar to other significant institutional holdings seen in comparable cybersecurity or networking technology companies.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional investor holding a substantial stake may increase investor confidence and potentially attract further institutional interest, which could positively impact share price stability and liquidity.
• Management: The passive nature of the investment suggests that Artisan Partners is not seeking to influence control, allowing current management to continue executing its strategy without immediate pressure from this specific shareholder.

Key Dates

Recommendation

The filing indicates a significant, passive institutional investment by Artisan Partners, which is generally a positive signal of confidence in Radware Ltd. However, without additional financial or operational updates from Radware itself, this filing primarily serves as an ownership disclosure. A 'hold' recommendation is appropriate as it acknowledges the institutional interest while awaiting further company-specific performance data to inform a stronger 'buy' or 'sell' decision.

Keywords

Radware, Artisan Partners, Institutional Ownership, Schedule 13G, Beneficial Ownership, Ordinary Shares, Investment Adviser, Passive Investment