SCHEDULE 13G: First Trust Entities Disclose 5.03% Stake in Radware

First Trust Portfolios L.P., First Trust Advisors L.P., and The Charger Corporation jointly reported a 5.03% beneficial ownership stake in Radware Ltd. as of December 31, 2025.

Summary

• First Trust Portfolios L.P., First Trust Advisors L.P., and The Charger Corporation have jointly filed a Schedule 13G, disclosing beneficial ownership of 2,146,877 common shares of Radware Ltd.
• This aggregate amount represents 5.03% of Radware Ltd.'s common stock.
• The shares are held through various investment vehicles, including unit investment trusts sponsored by First Trust Portfolios L.P. and other registered investment companies, pooled investment vehicles, and separately managed accounts where First Trust Advisors L.P. serves as an investment advisor or sub-advisor.
• The reporting persons explicitly disclaim beneficial ownership of these shares.
• The shares held in unit investment trusts are voted by the trustee, generally in proportion to how other owners vote their shares.
• The ownership was acquired and is held in the ordinary course of business, not for the purpose of changing or influencing control of Radware Ltd.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the issuer's performance or prospects. The disclaimer of beneficial ownership by the reporting entities makes it a neutral reporting event.

Positives

• A significant institutional investor group, First Trust, holds a substantial stake, which can be seen as a vote of confidence in Radware Ltd.
• The filing indicates a passive investment strategy, not intended to influence control, which suggests stability in the ownership structure.

Negatives

• The reporting persons explicitly disclaim beneficial ownership, meaning they do not directly control or intend to control the shares, which might limit their direct influence on the company's strategic direction.

Risks

• No specific risks related to Radware Ltd.'s operations or financial health are mentioned in this ownership disclosure filing.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance regarding Radware Ltd.'s future outlook.

Management Comments

• 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.
• Each of First Trust Portfolios L.P., First Trust Advisors L.P. and The Charger Corporation disclaims beneficial ownership of the shares of the issuer identified in this filing.

Industry Context

This filing is a standard disclosure of a significant ownership stake by institutional investors. It does not provide specific insights into broader industry trends or competitive landscape for Radware Ltd., beyond indicating that institutional funds are allocating capital to the company.

Related Party Transactions

• The Charger Corporation is the General Partner of both First Trust Portfolios L.P. and First Trust Advisors L.P., establishing a control relationship among the reporting entities.
• First Trust Portfolios L.P. sponsors unit investment trusts, and First Trust Advisors L.P. supervises these trusts and advises other investment vehicles, indicating an internal operational relationship for managing the disclosed shares.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake (5.03%) by First Trust entities may provide a degree of confidence to other shareholders, indicating institutional interest in Radware Ltd. However, the passive nature and disclaimer of beneficial ownership suggest no immediate impact on corporate control or strategy.
• Management: Management of Radware Ltd. is now aware of this significant passive institutional ownership, which typically implies a focus on long-term value creation without direct intervention from these specific shareholders.

Key Dates

Keywords

Radware Ltd., First Trust Portfolios, First Trust Advisors, The Charger Corporation, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, M81873107, Passive Investment