SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 9.2% Stake in AvidXchange Holdings Inc.
Beneficial Ownership Disclosure
FMR LLC and its affiliates, along with Abigail P. Johnson, have disclosed a beneficial ownership of 9.2% of AvidXchange Holdings Inc.'s common stock as of March 31, 2025.
Summary
- FMR LLC and Abigail P. Johnson, through various entities, beneficially own an aggregate of 18,870,358.86 shares of AvidXchange Holdings Inc. common stock.
- This ownership represents 9.2% of the total outstanding common stock of AvidXchange Holdings Inc.
- FMR LLC holds sole voting power over 18,668,402.00 shares and sole dispositive power over 18,870,358.86 shares.
- Abigail P. Johnson, as a control person of FMR LLC, is deemed to have sole dispositive power over the same 18,870,358.86 shares.
- 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 AvidXchange Holdings Inc.
- Several FMR LLC subsidiaries, including FIAM LLC, Fidelity Institutional Asset Management Trust Company, Fidelity Management & Research Company LLC, and Strategic Advisers LLC, are identified as entities that beneficially own shares, with Fidelity Management & Research Company LLC owning 5% or greater.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain subjective language or performance data that would indicate a positive or negative sentiment.
Future Outlook
NA
Industry Context
This filing reflects a significant passive investment by a major asset management firm, FMR LLC (Fidelity), in a financial technology company, AvidXchange Holdings Inc. Such disclosures are common for large institutional investors reaching or crossing beneficial ownership thresholds, indicating their portfolio positions rather than specific industry trends or competitive actions.
Comparison to Industry Standards
- As a Schedule 13G filing, this document primarily discloses beneficial ownership and does not provide performance metrics for comparison. Therefore, it does not offer specific comparable companies, projects, or results against industry standards.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Internal Control Structure Disclosure | The document details the internal control structure of FMR LLC, noting that members of the Johnson family, including Abigail P. Johnson, are the predominant owners of Series B voting common shares (49% voting power) and have a shareholders' voting agreement to vote in accordance with the majority vote of Series B shares, forming a controlling group with respect to FMR LLC. | NA | This clarifies the ultimate control structure of the reporting entity, FMR LLC, and how Abigail P. Johnson's beneficial ownership is derived through this structure. It does not impact AvidXchange Holdings Inc.'s corporate governance directly. |
Stakeholder Impact
- Shareholders: The disclosure of a significant 9.2% stake by a major institutional investor like FMR LLC could be perceived positively by other shareholders, potentially signaling institutional confidence in AvidXchange Holdings Inc.
Key Dates
| Date | Description |
|---|---|
| 01/03/2023 | Effective date of Power of Attorney for Stephanie J. Brown on behalf of FMR LLC. |
| 01/10/2023 | Date of Schedule 13G filing by FMR LLC where the Power of Attorney (accession number -23-000003) was incorporated by reference. |
| 01/26/2023 | Effective date of Power of Attorney for Stephanie J. Brown on behalf of Abigail P. Johnson. |
| 01/31/2023 | Date of Schedule 13G filing by FMR LLC where the Power of Attorney (accession number -23-000038) for Abigail P. Johnson was incorporated by reference. |
| 03/31/2025 | Date of event which requires filing of this statement (ownership stake determination date). |
| 05/09/2025 | Date of signing and filing of this Schedule 13G Amendment No. 1. |
Keywords
AvidXchange Holdings Inc, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Institutional Investor, Financial Services, Investment Management
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.