SCHEDULE: Samjo Management Cuts Thryv Holdings Stake to 4.2%

Samjo Management, LLC and Andrew N. Wiener have reduced their beneficial ownership in Thryv Holdings, Inc. to 4.2% of common stock.

Summary

• Samjo Management, LLC and Andrew N. Wiener filed an Amendment No. 1 to Schedule 13G for Thryv Holdings, Inc.
• The filing indicates that as of June 30, 2025, the reporting persons beneficially own 1,840,025 shares of Thryv Holdings, Inc. Common Stock.
• This represents 4.2% of the outstanding class of securities.
• The reporting persons have shared voting power over 1,021,400 shares and shared dispositive power over 1,840,025 shares.
• Samjo Management, LLC is classified as an Investment Adviser (IA), and Andrew N. Wiener is classified as a Parent Holding Company/Control Person (HC).
• All reported securities are directly owned by advisory clients of Samjo Management, LLC, with no single client beneficially owning more than 5%.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative as a significant institutional investor has reduced its stake below a key reporting threshold, which can be interpreted as a decrease in conviction or a strategic divestment, though the filing itself is a passive disclosure.

Negatives

• The beneficial ownership of Samjo Management, LLC and Andrew N. Wiener in Thryv Holdings, Inc. has decreased to below the 5% threshold, potentially signaling a reduction in conviction or portfolio rebalancing by a significant holder.

Risks

• A reduction in significant institutional ownership could be perceived negatively by the market, potentially impacting investor confidence.
• The filing does not provide reasons for the reduction in ownership, which could lead to speculation among investors.

Future Outlook

The filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding the issuer's future performance or strategic direction.

Management Comments

• The reporting persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Industry Context

This filing is a routine disclosure of a change in institutional ownership, common in the financial industry. It reflects a passive investment position falling below a significant reporting threshold, rather than a strategic industry move.

Stakeholder Impact

• Shareholders: May interpret the reduction in institutional ownership as a negative signal, potentially influencing their investment decisions.
• Company Management: May need to understand the reasons behind the reduction in stake by a significant holder, though the filing states it's for ordinary course of business.

Key Dates

Keywords

Thryv Holdings, Samjo Management, Andrew N. Wiener, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Ownership, SEC Filing, Investment Adviser