F5 INC FFIV
COM · Common Stock · CUSIP 315616102 · ISIN US3156161024
Multi-cloud cybersecurity and application delivery company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($12.3m this quarter). Holder counts are more reliable. Shares outstanding: 58.8m as of 2024-01-30, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $178.94. Options: 16 managers hold calls ($75.5m notional), 16 hold puts ($56.1m).
Trends to Q4 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 500 |
| Q4 2022 | 523 |
| Q1 2023 | 497 |
| Q2 2023 | 499 |
| Q3 2023 | 513 |
| Q4 2023 | 524 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 239 | 242 |
| Q1 2023 | 245 | 236 |
| Q2 2023 | 229 | 260 |
| Q3 2023 | 225 | 241 |
| Q4 2023 | 242 | 238 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2023 | $59.1m | $31.3m | 0.53 |
| Q2 2023 | $52.6m | $36.0m | 0.69 |
| Q3 2023 | $72.5m | $58.4m | 0.81 |
| Q4 2023 | $75.5m | $56.1m | 0.74 |
Biggest buyers
| BlackRock Inc. | Added | +846.9k |
| MORGAN STANLEY | Added | +804.9k |
| LYRICAL ASSET MANAGEMENT LP | Added | +317.3k |
| CITADEL ADVISORS LLC | Added | +283.3k |
| JPMORGAN CHASE & CO | Added | +168.6k |
| STATE STREET CORP | Added | +151.5k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | Added | +142.5k |
| VANGUARD GROUP INC | Added | +131.3k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | Added | +125.6k |
| AMERIPRISE FINANCIAL INC | Added | +96.8k |
Biggest sellers
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | Reduced | -495.9k |
| Alyeska Investment Group, L.P. | Sold out | -381.5k |
| FRANKLIN RESOURCES INC | Reduced | -342.2k |
| Pacer Advisors, Inc. | Reduced | -308.9k |
| WESTFIELD CAPITAL MANAGEMENT CO LP | Reduced | -184.1k |
| Balyasny Asset Management L.P. | Reduced | -167.1k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -159.2k |
| Woodline Partners LP | Sold out | -147.2k |
| MARSHALL WACE, LLP | Sold out | -133.3k |
| TWO SIGMA INVESTMENTS, LP | Reduced | -114.7k |
Biggest calls
| Walleye Trading LLC | Added | $24.3m136.0k shares |
| CITADEL ADVISORS LLC | Added | $16.3m90.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $13.5m75.3k shares |
| PEAK6 Investments LLC | Added | $4.9m27.3k shares |
| SIMPLEX TRADING, LLC | Added | $4.3m24.0k shares |
| WOLVERINE TRADING, LLC | Added | $4.3m23.9k shares |
| JANE STREET GROUP, LLC | Reduced | $2.4m13.3k shares |
| Walleye Capital LLC | Added | $2.2m12.5k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $1.8m9.9k shares |
| TWO SIGMA SECURITIES, LLC | Reduced | $680.1k3.8k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $14.0m78.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $13.0m72.8k shares |
| Walleye Trading LLC | Reduced | $12.1m67.6k shares |
| PEAK6 Investments LLC | Reduced | $3.7m20.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $3.1m17.5k shares |
| Walleye Capital LLC | Reduced | $2.8m15.4k shares |
| WOLVERINE TRADING, LLC | Added | $2.1m11.5k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Added | $1.8m9.9k shares |
| MILLENNIUM MANAGEMENT LLC | New | $1.1m6.4k shares |
| TWO SIGMA SECURITIES, LLC | Reduced | $894.9k5.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.5% |
Fell to 5% or below in the last year: HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC (3.6%, 2026-08-12), VANGUARD PORTFOLIO MANAGEMENT LLC (5.0%, 2026-07-31; now reported by VANGUARD CAPITAL MANAGEMENT LLC), FIRST TRUST PORTFOLIOS LP (2.9%, 2026-04-30), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q4 2023
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2022 | 0 | — | 8 | $3.4m | — |
| Q2 2022 | 0 | — | 9 | $1.5m | — |
| Q3 2022 | 0 | — | 7 | $1.4m | — |
| Q4 2022 | 0 | — | 6 | $4.1m | — |
| Q1 2023 | 0 | — | 5 | $1.5m | — |
| Q2 2023 | 0 | — | 7 | $2.0m | $1.4m |
| Q3 2023 | 0 | — | 5 | $1.5m | $1.5m |
| Q4 2023 | 0 | — | 6 | $3.0m | $2.9m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2023-12-20 | Pelzer Francis J. EVP, Chief Financial Officer | Sold plan | $89.4k500 shares |
| 2023-12-12 | Rogers Scot Frazier EVP and General Counsel | Sold plan | $262.5k1.5k shares |
| 2023-12-04 | WHALEN CHAD MICHAEL EVP, Worldwide Sales | Sold plan | $239.1k1.4k shares |
| 2023-11-29 | Pelzer Francis J. EVP, Chief Financial Officer | Sold plan | $425.0k2.5k shares |
| 2023-11-09 | HIGGINSON ALAN Director | Sold | $156.5k1.0k shares |
| 2023-11-03 | Locoh-Donou Francois President, CEO & Director, director | Sold plan | $337.0k2.2k shares |
| 2023-11-02 | FOUNTAIN THOMAS DEAN EVP Global Services & Strategy | Sold plan | $642.9k4.3k shares |
| 2023-11-02 | Rogers Scot Frazier EVP and General Counsel | Sold plan | $303.1k2.0k shares |
| 2023-11-02 | WHALEN CHAD MICHAEL EVP, Worldwide Sales | Sold plan | $212.0k1.4k shares |
| 2023-10-03 | Locoh-Donou Francois President, CEO & Director, director | Sold plan | $353.1k2.2k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q4 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.03% of their portfolio | 7.4m $1.3bn | Added +131.3k |
| BlackRock Inc. 0.03% of their portfolio | 6.6m $1.2bn | Added +846.9k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 3.21% of their portfolio | 5.0m $899.0m | Reduced -495.9k |
| STATE STREET CORP 0.03% of their portfolio | 3.1m $554.8m | Added +151.5k |
| Invesco Ltd. 0.10% of their portfolio | 2.3m $417.4m | Reduced -83.5k |
| AMERIPRISE FINANCIAL INC 0.10% of their portfolio | 1.9m $341.7m | Added +96.8k |
| AMERICAN CENTURY COMPANIES INC 0.21% of their portfolio | 1.7m $300.8m | Reduced -13.3k |
| WELLINGTON MANAGEMENT GROUP LLP 0.05% of their portfolio | 1.5m $263.5m | Reduced -36.1k |
| GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 1.4m $248.6m | Added +36.6k |
| MORGAN STANLEY 0.01% of their portfolio | 1.2m $221.9m | Added +804.9k |
| LYRICAL ASSET MANAGEMENT LP 3.34% of their portfolio | 1.1m $205.0m | Added +317.3k |
| FIRST TRUST ADVISORS LP 0.22% of their portfolio | 1.1m $201.0m | Added +6.0k |
| Swedbank AB 0.30% of their portfolio | 1.0m $182.1m | Reduced -186 |
| RENAISSANCE TECHNOLOGIES LLC 0.20% of their portfolio | 723.0k $129.4m | Reduced -86.1k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 700.2k $125.3m | Reduced -9.7k |
| WESTFIELD CAPITAL MANAGEMENT CO LP 0.59% of their portfolio | 564.0k $100.9m | Reduced -184.1k |
| Legal & General Group Plc 0.03% of their portfolio | 552.7k $98.9m | Reduced -36.2k |
| ACADIAN ASSET MANAGEMENT LLC 0.38% of their portfolio | 548.1k $98.1m | Added +63.6k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 517.9k $92.7m | Added +49.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.04% of their portfolio | 512.6k $91.8m | Added +81.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 497.6k $89.1m | Added +9.8k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 473.5k $84.7m | Added +2.2k |
| California Public Employees Retirement System 0.05% of their portfolio | 387.6k $69.4m | Reduced -9.5k |
| Amundi 0.03% of their portfolio | 385.3k $67.1m | Reduced -14.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 382.1k $68.4m | Added +168.6k |
| Retirement Systems of Alabama 0.28% of their portfolio | 370.7k $66.3m | Reduced -250 |
| AQR CAPITAL MANAGEMENT LLC 0.12% of their portfolio | 364.9k $65.3m | Added +24.3k |
| Boston Trust Walden Corp 0.49% of their portfolio | 364.5k $65.2m | Added +62.9k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.12% of their portfolio | 336.5k $60.2m | Added +142.5k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.15% of their portfolio | 298.6k $53.4m | Added +125.6k |
| HSBC HOLDINGS PLC 0.05% of their portfolio | 295.0k $52.8m | Reduced -37.5k |
| FRANKLIN RESOURCES INC 0.02% of their portfolio | 294.0k $52.6m | Reduced -342.2k |
| CITADEL ADVISORS LLC 0.05% of their portfolio | 285.4k $51.1m | Added +283.3k |
| NORGES BANK 0.01% of their portfolio | 256.7k $45.9m | Added +37.5k |
| TRUIST FINANCIAL CORP 0.07% of their portfolio | 245.9k $44.0m | Reduced -37.9k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 236.5k $42.6m | Reduced -28.6k |
| DEUTSCHE BANK AG\ 0.02% of their portfolio | 221.8k $39.7m | Added +31.2k |
| Robeco Institutional Asset Management B.V. 0.09% of their portfolio | 217.4k $38.9m | Added +2.9k |
| APG Asset Management N.V. 0.07% of their portfolio | 214.9k $34.8m | Added +29.2k |
| CREDIT SUISSE AG/ 0.04% of their portfolio | 214.3k $38.4m | Added +47.9k |
| Qube Research & Technologies Ltd 0.08% of their portfolio | 198.3k $35.5m | Added +46.0k |
| Swiss National Bank 0.02% of their portfolio | 185.4k $33.2m | Reduced -9.1k |
| LORD, ABBETT & CO. LLC 0.06% of their portfolio | 176.6k $31.6m | Reduced -300 |
| BARCLAYS PLC 0.02% of their portfolio | 174.0k $31.1m | Reduced -4.3k |
| Sumitomo Mitsui Trust Group, Inc. 0.02% of their portfolio | 165.0k $29.5m | Added +13.7k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 161.4k $28.9m | Reduced -4.7k |
| Skandinaviska Enskilda Banken AB (publ) 0.16% of their portfolio | 152.0k $27.2m | Reduced -3.1k |
| UBS Group AG 0.01% of their portfolio | 149.4k $26.7m | Reduced -32.6k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.13% of their portfolio | 149.4k $26.7m | Reduced -32.9k |
| Nuveen Asset Management, LLC 0.01% of their portfolio | 148.5k $26.6m | Added +5.1k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 146.0k $26.1m | Added +6.9k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 128.0k $22.9m | Added +1.2k |
| Assenagon Asset Management S.A. 0.07% of their portfolio | 126.9k $22.7m | Added +39.6k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 126.7k $22.7m | Reduced -9.9k |
| D. E. Shaw & Co., Inc. 0.03% of their portfolio | 125.6k $22.5m | Reduced -110.1k |
| CITIGROUP INC 0.03% of their portfolio | 122.5k $21.9m | Added +8.1k |
| CANADA LIFE ASSURANCE Co 0.04% of their portfolio | 113.6k $20.3m | Added +32.4k |
| Russell Investments Group, Ltd. 0.04% of their portfolio | 112.1k $20.1m | Added +31.2k |
| SEI INVESTMENTS CO 0.03% of their portfolio | 104.5k $18.7m | Added +9.7k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.07% of their portfolio | 102.6k $18.4m | Reduced -59.1k |
| OSSIAM 0.28% of their portfolio | 98.8k $17.7m | Reduced -4.9k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 98.3k $17.6m | Reduced -8.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 96.9k $17.3m | Added +426 |
| SEIZERT CAPITAL PARTNERS, LLC 0.82% of their portfolio | 90.0k $16.1m | Added +1.9k |
| COMERICA BANK 0.07% of their portfolio | 89.8k $16.1m | Reduced -5.5k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.02% of their portfolio | 87.9k $15.7m | Added +51.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 87.3k $15.6m | Added +10.9k |
| Leeward Investments, LLC - MA 0.70% of their portfolio | 83.8k $15.0m | Reduced -2.3k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 80.6k $14.4m | Reduced -1.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 79.5k $14.2m | Added +2.9k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.06% of their portfolio | 79.3k $14.2m | New |
| Bridgewater Associates, LP 0.08% of their portfolio | 79.1k $14.2m | Reduced -40.2k |
| RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio | 78.7k $14.1m | Reduced -82 |
| Mitsubishi UFJ Trust & Banking Corp 0.03% of their portfolio | 78.1k $14.0m | Added +28.0k |
| Mirae Asset Global Investments Co., Ltd. 0.03% of their portfolio | 76.2k $13.6m | Reduced -3.4k |
| Nepsis Inc. 3.78% of their portfolio | 74.2k $13.3m | Reduced -87 |
| Walleye Capital LLC 0.19% of their portfolio | 73.9k $13.2m | Reduced -3.8k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.02% of their portfolio | 73.2k $13.1m | Reduced -7.3k |
| Allianz Asset Management GmbH 0.02% of their portfolio | 73.1k $13.1m | Added +31.2k |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.09% of their portfolio | 71.9k $12.9m | Added +59.3k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 71.9k $12.9m | Reduced -159.2k |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 70.2k $12.6m | Added +21.5k |
| TWO SIGMA ADVISERS, LP 0.03% of their portfolio | 68.3k $12.2m | Reduced -103.1k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 67.7k $12.1m | Added +65.6k |
| Pictet Asset Management Holding SA 0.01% of their portfolio | 66.6k $11.9m | Added +36.3k |
| S&T Bank/PA 2.15% of their portfolio | 65.1k $11.6m | Reduced -2.6k |
| WILKINS INVESTMENT COUNSEL INC 2.83% of their portfolio | 64.9k $11.6m | Reduced -830 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 63.8k $11.4m | Added +7.6k |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 62.9k $11.3m | Reduced -9.2k |
| MARTINGALE ASSET MANAGEMENT L P 0.23% of their portfolio | 62.9k $11.3m | Added +3.8k |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.09% of their portfolio | 62.6k $11.2m | Added +1.2k |
| Illinois Municipal Retirement Fund 0.18% of their portfolio | 61.8k $11.1m | Added +5.6k |
| Ensign Peak Advisors, Inc 0.02% of their portfolio | 60.5k $10.8m | Reduced -5.9k |
| Susquehanna Portfolio Strategies, LLC 0.18% of their portfolio | 57.7k $10.3m | First filing |
| GRIMES & Co WEALTH MANAGEMENT, LLC 0.34% of their portfolio | 57.1k $10.2m | Added +1.2k |
| Centre Asset Management, LLC 2.43% of their portfolio | 56.3k $10.1m | Reduced -6.3k |
| Balyasny Asset Management L.P. 0.03% of their portfolio | 56.1k $10.0m | Reduced -167.1k |
| Touchstone Capital, Inc. 9.46% of their portfolio | 55.6k $10.0m | Reduced -1.0k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.02% of their portfolio | 54.3k $9.5m | Added +560 |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 54.0k $9.7m | Reduced -2.5k |