SCHEDULE: Susquehanna Group Discloses 5.7% Stake in Semler Scientific

A group of affiliated entities, including Capital Ventures International and Susquehanna Advisors Group, Inc., reported a collective beneficial ownership of 5.7% in Semler Scientific, Inc.

Summary

• A group of five affiliated entities, including Capital Ventures International, Susquehanna Advisors Group, Inc., G1 Execution Services, LLC, SIG Brokerage, LP, and Susquehanna Securities, LLC, collectively reported beneficial ownership of 787,030 shares of Semler Scientific, Inc. common stock.
• This aggregate ownership represents 5.7% of Semler Scientific's outstanding common stock, based on 13,788,405 shares outstanding as of July 2, 2025.
• Susquehanna Securities, LLC's reported beneficial ownership includes options to buy 248,900 shares.
• The filing states that the securities were not acquired or held for the purpose of changing or influencing control of Semler Scientific, Inc.
• Susquehanna Advisors Group, Inc. acts as the investment manager for Capital Ventures International, exercising voting and dispositive power over its shares.

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. It indicates a significant, passive investment by a group of entities.

Positives

• Increased institutional ownership by a group of affiliated entities may signal confidence in Semler Scientific, Inc.
• The group's aggregate 5.7% stake indicates a notable investment position in the company.

Negatives

• No specific negative information is contained within this beneficial ownership disclosure.

Risks

• While the filing disclaims intent to influence control, a significant ownership stake by a group could potentially lead to future shareholder activism or influence on corporate decisions.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding Semler Scientific, Inc.'s future performance or operations.

Management Comments

• 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 Rule 14a-11.

Industry Context

This filing represents a routine disclosure of a significant passive ownership stake by an institutional investment group in a publicly traded company. It does not provide specific insights into broader industry trends for Semler Scientific, Inc.'s sector, but rather reflects an investment decision by the reporting entities.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake could be viewed positively, potentially increasing investor confidence and liquidity.
• Management: The passive nature of the investment, as certified, suggests no immediate intent to challenge or influence current management.

Next Steps

• The filing does not specify any immediate future actions or milestones for Semler Scientific, Inc. or the reporting group beyond the ongoing passive investment.

Key Dates

Recommendation

This Schedule 13G filing primarily serves as a disclosure of a significant passive ownership stake by an institutional group. While it indicates a notable investment, it does not provide new financial performance data, strategic shifts, or operational updates for Semler Scientific, Inc. that would warrant a change in investment recommendation. The filing explicitly states no intent to influence control, suggesting a long-term, passive investment approach. Therefore, a 'hold' recommendation is appropriate as the filing itself does not present a compelling reason to buy or sell based solely on this ownership disclosure.

Keywords

Semler Scientific, Beneficial Ownership, Schedule 13G, Capital Ventures International, Susquehanna Advisors Group, G1 Execution Services, SIG Brokerage, Susquehanna Securities, Institutional Ownership, Common Stock, Equity Stake