SCHEDULE: BC Partners Affiliates Maintain 42.56% Stake in Chewy

BC Partners Holdings Limited and its affiliated entities continue to report a significant 42.56% beneficial ownership in Chewy, Inc. through convertible Class B Common Stock.

Summary

• BC Partners Holdings Limited, CIE Management IX Limited, Argos Holdings GP LLC, Argos Holdings L.P., and Citrus Intermediate Holdings L.P. are jointly filing this Schedule 13G Amendment No. 7.
• The reporting persons collectively beneficially own 176,478,229 shares of Chewy, Inc. Class A Common Stock.
• These shares are issuable upon a one-for-one conversion of Class B Common Stock held by the reporting persons.
• The aggregate beneficial ownership represents 42.56% of Chewy, Inc.'s total common stock outstanding.
• The percentage is calculated based on 414,638,724 shares of Common Stock outstanding, comprising 238,160,495 Class A shares as of November 3, 2025, and the 176,478,229 convertible Class B shares.
• All reporting persons share both voting and dispositive power over the 176,478,229 shares.

Sentiment

Score: 5

Explanation: The filing is a routine amendment to a beneficial ownership report, indicating a stable, significant stake by a major investor group. It contains factual ownership data without performance metrics or forward-looking statements, thus maintaining a neutral sentiment.

Positives

• The continued significant beneficial ownership by BC Partners and its affiliates, a major private equity firm, suggests ongoing strategic interest and potential long-term commitment to Chewy, Inc.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding Chewy, Inc.'s future performance or operations.

Industry Context

This filing is a routine disclosure of beneficial ownership by a major institutional investor group in the pet e-commerce sector. It reflects the continued significant stake of BC Partners in Chewy, Inc., a prominent player in the online pet supply market.

Related Party Transactions

• The filing details the hierarchical control structure among the reporting persons: BC Partners Holdings Limited controls CIE Management IX Limited, which controls Argos Holdings GP LLC, which is the general partner of Argos Holdings L.P., which is the sole common equity holder of Citrus Intermediate Holdings L.P. Citrus indirectly holds the reported securities.

Stakeholder Impact

• Shareholders: The continued significant ownership by BC Partners and its affiliates indicates a stable major shareholder base, which can be viewed positively for long-term strategic alignment.
• Management: The substantial stake held by this group implies a strong influence on corporate governance and strategic decisions.

Key Dates

Keywords

Chewy, BC Partners, Beneficial Ownership, Schedule 13G, Class A Common Stock, Class B Common Stock, Institutional Ownership, Pet E-commerce