SCHEDULE: Susquehanna, G1 Execution Disclose 5.3% Stake in UP Fintech

G1 Execution Services, LLC and Susquehanna Securities, LLC have jointly disclosed a 5.3% beneficial ownership stake in UP Fintech Holding Limited as of June 30, 2025.

Summary

• G1 Execution Services, LLC and Susquehanna Securities, LLC, affiliated independent broker-dealers, have jointly filed a Schedule 13G.
• They collectively beneficially own 142,856,205 Class A Ordinary Shares of UP Fintech Holding Limited.
• This represents 5.3% of the company's outstanding Class A Ordinary Shares.
• The ownership stake was established as of June 30, 2025.
• Susquehanna Securities, LLC holds the majority of the stake, including 1,982,850 American Depositary Shares (ADSs) and options to buy 7,540,500 ADSs.
• G1 Execution Services, LLC holds 397 ADSs.
• Each ADS represents fifteen (15) Class A Ordinary Shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: A Schedule 13G filing is primarily a factual disclosure of ownership and does not inherently convey positive or negative sentiment regarding the company's performance or outlook. It is a neutral regulatory compliance document.

Positives

• Increased institutional ownership by reputable broker-dealers, potentially indicating liquidity or trading interest in the stock.
• The filing explicitly states the stake is for ordinary course of business, not control, which reduces concerns about hostile takeovers or activist campaigns.

Risks

• The investment is stated to be passive and for ordinary course of business, meaning it does not imply strategic support or long-term commitment beyond trading or investment purposes.

Future Outlook

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

Management Comments

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

Industry Context

This filing indicates a significant passive investment by two affiliated broker-dealers in UP Fintech Holding Limited, a company operating in the financial technology sector. Such disclosures are common for large institutional investors and market makers who hold positions exceeding 5% for trading or investment purposes, reflecting their activity in the broader financial markets.

Comparison to Industry Standards

• This Schedule 13G filing is a standard regulatory disclosure for passive investors acquiring more than 5% of a company's shares. The 5.3% stake is a notable position, aligning with typical institutional holdings that trigger such reporting requirements. There are no specific comparable companies or projects mentioned in the filing to assess performance against industry benchmarks, as this filing is solely about ownership disclosure.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, potentially signaling liquidity or trading interest.
• Company Management: Awareness of a significant passive stake held by broker-dealers, which is generally part of normal market operations.

Next Steps

• The reporting persons will continue to monitor their beneficial ownership and file amendments to this Schedule 13G if there are material changes to their holdings or intentions, as required by SEC regulations.

Key Dates

Keywords

UP Fintech Holding Limited, Schedule 13G, Beneficial Ownership, G1 Execution Services, Susquehanna Securities, Broker-Dealer, Institutional Ownership, Class A Ordinary Shares, ADS, Financial Services