Vault-13

SEQUANS COMMUNICATIONS S A SQNS

SPONSORED ADS · ADR · CUSIP 817323405 · ISIN US8173234050

39 institutional holders +9 vs Q3 2025
9,726,5379.7m shares reported held*
$43.7mreported value*
12 new 6 added 10 reduced 6 sold out net bought ≈ $916.2k (+184.1k shares)

* 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. Holder counts are more reliable. Implied quarter-end price ≈ $4.49. Options: 6 managers hold calls ($38.5m notional), 5 hold puts ($3.5m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

02040Q3 25: 30Q4 25: 3939Q3 25Q4 25
Numbers
QuarterHolders
Q3 202530
Q4 202539

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$50m$100m$150mQ1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $110.0mQ3 25 puts: $15.7mQ3 25P/C 0.14Q4 25 calls: $38.5mQ4 25 puts: $3.5mQ4 25P/C 0.09
Numbers
QuarterCallsPutsP/C
Q1 2025$0$0—
Q2 2025$0$0—
Q3 2025$110.0m$15.7m0.14
Q4 2025$38.5m$3.5m0.09

Biggest buyers

BRC Group Holdings, Inc. New +1,047,614+1.0m
DRW Securities, LLC New +1,034,728+1.0m
WOLVERINE ASSET MANAGEMENT LLC New +297,760+297.8k
CREDIT INDUSTRIEL ET COMMERCIAL Added +150,000+150.0k
FMR LLC Added +131,966+132.0k
Schonfeld Strategic Advisors LLC New +98,619+98.6k
JANE STREET GROUP, LLC Added +53,855+53.9k
MARSHALL WACE, LLP Added +34,231+34.2k
Quadrature Capital Ltd New +22,509+22.5k
Virtu Financial LLC New +16,704+16.7k

Biggest sellers

Hood River Capital Management LLC Reduced -1,328,848-1.3m
Yorkville Advisors Global, LP Sold out -763,003-763.0k
Alyeska Investment Group, L.P. Reduced -173,770-173.8k
272 Capital LP Sold out -164,858-164.9k
BOOTHBAY FUND MANAGEMENT, LLC Reduced -136,885-136.9k
Meteora Capital, LLC Reduced -89,480-89.5k
MOORE CAPITAL MANAGEMENT, LP Reduced -21,199-21.2k
Krilogy Financial LLC Reduced -20,000-20.0k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -16,521-16.5k
MORGAN STANLEY Reduced -12,023-12.0k

Biggest calls

GROUP ONE TRADING LLC Reduced $30.9m6.9m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $3.7m829.3k shares
PEAK6 LLC New $2.1m478.0k shares
CITADEL ADVISORS LLC Reduced $866.4k193.0k shares
JANE STREET GROUP, LLC Added $756.9k168.6k shares
Belvedere Trading LLC Reduced $74.6k119.1k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.8m401.5k shares
GROUP ONE TRADING LLC Reduced $1.5m344.1k shares
CITADEL ADVISORS LLC Reduced $105.4k23.5k shares
Meteora Capital, LLC New $8.4k33 shares
Belvedere Trading LLC Unchanged $5401.2k 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.

HolderStakeChangeShares Last filed
FMR LLC 13G · institution -1.1 pts · filed 2026-05-06 8.9% -1.1 pts 138.4m 2026-05-06
Leviticus Partners LP 13G · institution new · filed 2026-05-19 5.0% new 750.1k 2026-05-19

Insider purchases and sales in Q4 2025

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.

None reported in Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FMR LLC 0.00% of their portfolio BOSTON, MA 1,557,6551.6m $7.0m $7.0m 0.00% Added +132.0k +131,966
2 Oasis Management Co Ltd. 0.82% of their portfolio GRAND CAYMAN, E9 1,411,3151.4m $6.3m $6.3m 0.82% Unchanged
3 DBA TRADING, LLC 5.03% of their portfolio FORT LAUDERDALE, FL 1,122,2191.1m $5.0m $5.0m 5.03% First filing
4 Polar Asset Management Partners Inc. 0.10% of their portfolio TORONTO, A6 1,114,4821.1m $5.0m $5.0m 0.10% Unchanged
5 BRC Group Holdings, Inc. 2.01% of their portfolio LOS ANGELES, CA 1,047,6141.0m $4.7m $4.7m 2.01% New
6 DRW Securities, LLC 0.35% of their portfolio CHICAGO, IL 1,034,7281.0m $4.6m $4.6m 0.35% New
7 Hood River Capital Management LLC 0.04% of their portfolio PALM BEACH GARDENS, FL 731,540731.5k $3.3m $3.3m 0.04% Reduced -1.3m -1,328,848
8 WOLVERINE ASSET MANAGEMENT LLC 0.02% of their portfolio CHICAGO, IL 297,760297.8k $1.3m $1.3m 0.02% New
9 BOOTHBAY FUND MANAGEMENT, LLC 0.03% of their portfolio NEW YORK, NY 229,259229.3k $1.0m $1.0m 0.03% Reduced -136.9k -136,885
10 CREDIT INDUSTRIEL ET COMMERCIAL 0.14% of their portfolio PARIS FRANCE, I0 220,000220.0k $987.8k $987.8k 0.14% Added +150.0k +150,000
11 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 145,424145.4k $653.0k $653.0k 0.00% Added +34.2k +34,231
12 Meteora Capital, LLC 0.05% of their portfolio Boca Raton, FL 128,530128.5k $577.1k $577.1k 0.05% Reduced -89.5k -89,480
13 ODDO BHF ASSET MANAGEMENT SAS 0.02% of their portfolio PARIS, I0 105,649105.6k $474.4k $474.4k 0.02% Not comparable
14 Alyeska Investment Group, L.P. 0.00% of their portfolio CHICAGO, IL 100,000100.0k $449.0k $449.0k 0.00% Reduced -173.8k -173,770
15 Schonfeld Strategic Advisors LLC 0.00% of their portfolio NEW YORK, NY 98,61998.6k $442.8k $442.8k 0.00% New
16 Lynrock Lake LP 0.03% of their portfolio RYE BROOK, NY 93,70793.7k $420.7k $420.7k 0.03% Unchanged
17 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 73,95974.0k $332.1k $332.1k 0.00% Added +53.9k +53,855
18 MOORE CAPITAL MANAGEMENT, LP 0.00% of their portfolio NEW YORK, NY 40,19940.2k $180.5k $180.5k 0.00% Reduced -21.2k -21,199
19 Krilogy Financial LLC 0.01% of their portfolio ST. LOUIS, MO 40,00040.0k $198.4k $198.4k 0.01% Reduced -20.0k -20,000
20 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 29,61129.6k $133.0k $133.0k 0.00% Reduced -16.5k -16,521
21 Quadrature Capital Ltd 0.00% of their portfolio LONDON, X0 22,50922.5k $101.1k $101.1k 0.00% New
22 J. Derek Lewis & Associates Inc. 0.02% of their portfolio NEWPORT BEACH, CA 19,00019.0k $85.3k $85.3k 0.02% First filing
23 Virtu Financial LLC 0.00% of their portfolio New York, NY 16,70416.7k $75.0k $75.0k 0.00% New
24 XTX Topco Ltd 0.00% of their portfolio LONDON, X0 16,35416.4k $73.4k $73.4k 0.00% New
25 GROUP ONE TRADING LLC 0.00% of their portfolio CHICAGO, IL 11,92911.9k $53.6k $53.6k 0.00% New
26 FNY Investment Advisers, LLC 0.01% of their portfolio NEW YORK, NY 6,5606.6k $29.0k $29.0k 0.01% Added +110 +110
27 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 3,4163.4k $15.3k $15.3k 0.00% Added +3.3k +3,324
28 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,6512.7k $11.9k $11.9k 0.00% Reduced -996 -996
29 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,5861.6k $7.1k $7.1k 0.00% Reduced -12.0k -12,023
30 MMCAP International Inc. SPC 0.00% of their portfolio GRAND CAYMAN, E9 1,5401.5k $6.9k $6.9k 0.00% New
31 GAMMA Investing LLC 0.00% of their portfolio FOSTER CITY, CA 807807 $3.6k $3.6k 0.00% New
32 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 517517 $2.3k $2.3k 0.00% New
33 WealthCollab, LLC 0.00% of their portfolio BELLEVUE, WA 302302 $1.4k $1.4k 0.00% New
34 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 217217 $973 $973 0.00% Unchanged
35 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 6868 $306 $306 0.00% Unchanged
36 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 4747 $211 $211 0.00% Unchanged
37 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 4040 $180 $180 0.00% Unchanged
38 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 1919 $85 $85 0.00% Unchanged
39 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 11 $4 $4 0.00% Reduced -2.7k -2,700