SCHEDULE: Investor Group Reduces Stake in Semler Scientific to 2.6%

A group of affiliated entities, including Capital Ventures International and Susquehanna Advisors Group, Inc., has reduced its beneficial ownership in Semler Scientific, Inc. to 2.6% of common stock.

Summary

• Capital Ventures International, Susquehanna Advisors Group, Inc., G1 Execution Services, LLC, SIG Brokerage, LP, and Susquehanna Securities, LLC (collectively, the "Reporting Persons") filed an Amendment No. 1 to Schedule 13G.
• The Reporting Persons collectively beneficially own 395,307 shares of Semler Scientific, Inc. common stock.
• This aggregate amount represents 2.6% of the company's outstanding common stock as of September 30, 2025, based on 15,142,195 shares outstanding reported in the company's Form 10-Q.
• Susquehanna Securities, LLC's reported beneficial ownership includes options to buy 146,200 shares.
• The filing indicates that the group now owns 5 percent or less of the class, implying a reduction from a previous stake that was above 5 percent.
• Each reporting person disclaims beneficial ownership of shares owned directly by another reporting person within the group.

Sentiment

Score: 3

Explanation: The reduction in beneficial ownership by a group of institutional investors, falling below the 5% threshold, is generally viewed as a negative signal, indicating decreased conviction or a strategic divestment.

Negatives

• A group of affiliated institutional investors has reduced its beneficial ownership in Semler Scientific, Inc. to 2.6% of the common stock.
• This reduction below the 5% threshold, as indicated by "Ownership of 5 Percent or Less of a Class" in an amendment, suggests a decrease in conviction or a reallocation of capital by these investors.

Future Outlook

NA

Industry Context

This filing reflects a change in institutional investor sentiment or portfolio strategy regarding Semler Scientific. While not directly tied to broader industry trends, a reduction in stake by a sophisticated investor group can sometimes precede or coincide with shifts in industry outlook or company-specific challenges.

Stakeholder Impact

• Shareholders: Existing shareholders may view the reduction in stake by a significant institutional group as a negative indicator, potentially leading to downward pressure on the stock price.

Key Dates

Recommendation

The reduction in beneficial ownership by a group of institutional investors, falling below the 5% threshold, signals a potential loss of confidence or a strategic divestment. This action by sophisticated investors often precedes or reflects underlying concerns about the company's future prospects or valuation, making it a negative indicator for the stock.

Keywords

Semler Scientific, Capital Ventures International, Susquehanna Advisors Group, G1 Execution Services, SIG Brokerage, Susquehanna Securities, Schedule 13G, beneficial ownership, institutional ownership, stock ownership, equity stake, investment reduction