SCHEDULE: FMR LLC & Abigail Johnson Boost Flowco Holdings Stake to 10.2%

Sentiment:

Beneficial Ownership Report 7 October 2025 3:49 PM

FMR LLC and Abigail P. Johnson have disclosed a beneficial ownership of 10.2% of Flowco Holdings Inc.'s Class A Common Stock as of September 30, 2025.

Summary

FMR LLC and Abigail P. Johnson jointly reported beneficial ownership of 2,636,125 shares of Flowco Holdings Inc.'s Class A Common Stock.
This represents 10.2% of the outstanding Class A Common Stock.
The ownership was reported as of September 30, 2025.
FMR LLC, classified as a parent holding company, holds sole voting power over 2,635,419 shares and sole dispositive power over 2,636,125 shares.
Abigail P. Johnson, as an individual, holds sole dispositive power over 2,636,125 shares, but no sole voting power directly.
The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Flowco Holdings Inc.
Several FMR LLC subsidiaries, including FIAM LLC, Fidelity Institutional Asset Management Trust Company, and Fidelity Management & Research Company LLC, are identified as relevant entities beneficially owning shares, with Fidelity Management & Research Company LLC owning 5% or greater.

Sentiment

Score: 7

Explanation: The disclosure of a 10.2% beneficial ownership by a major institutional investor like FMR LLC, along with its CEO Abigail P. Johnson, suggests a strong vote of confidence in Flowco Holdings Inc. The statement that the investment is for ordinary business and not for control purposes further reinforces a stable, long-term investment perspective.

Positives

Significant institutional investment from FMR LLC and its affiliates, indicating confidence in Flowco Holdings Inc.
The investment is stated to be for ordinary course of business, not for control, suggesting a passive, long-term investment perspective.

Risks

The Johnson family group, through their ownership of FMR LLC voting shares and a voting agreement, may be deemed a controlling group with respect to FMR LLC, which could indirectly influence Flowco Holdings Inc. through FMR LLC's investment decisions.
While the filing states the investment is not for control, a substantial 10.2% stake could still exert influence on company decisions or future strategic directions.

Management Comments

The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

This filing indicates a significant passive investment by a major institutional asset manager, FMR LLC (Fidelity), in Flowco Holdings Inc. Such a substantial stake (10.2%) by a prominent financial institution can be viewed positively by the market, suggesting that Flowco Holdings Inc. is considered a viable investment within FMR's portfolio strategies. It reflects FMR's ongoing investment activities across various public companies, aligning with broader trends of institutional investors taking significant, but often non-controlling, positions in publicly traded entities.

Corporate Governance

Change Type	Description	Effective Date	Impact Assessment
Shareholder Voting Agreement	Members of the Johnson family, including Abigail P. Johnson, have entered into a shareholders' voting agreement for Series B voting common shares of FMR LLC, under which all Series B shares will be voted in accordance with the majority vote. This may deem them a controlling group with respect to FMR LLC under the Investment Company Act of 1940.	N/A	This agreement centralizes voting power within the Johnson family for FMR LLC, which indirectly influences FMR LLC's investment decisions, including its stake in Flowco Holdings Inc. While not directly impacting Flowco's governance, it clarifies the control structure of the reporting entity.

Stakeholder Impact

Shareholders: Existing shareholders may view this as a positive signal, as a large institutional investor has taken a significant stake, potentially increasing market confidence and liquidity.
Management: Management of Flowco Holdings Inc. now has a significant institutional shareholder to consider, though the filing states the investment is not for control.

Key Dates

Date	Description
2023-01-03	Effective date of Power of Attorney for FMR LLC and its direct and indirect subsidiaries.
2023-01-10	Date of Schedule 13G filing by FMR LLC where its Power of Attorney (Exhibit 24) was incorporated by reference.
2023-01-26	Effective date of Power of Attorney for Abigail P. Johnson.
2023-01-31	Date of Schedule 13G filing by FMR LLC where Abigail P. Johnson's Power of Attorney (Exhibit 24) was incorporated by reference.
2025-09-30	Date of event which requires filing of this statement (beneficial ownership calculation date).
2025-10-06	Date of signing of the Schedule 13G by Stephanie J. Brown on behalf of FMR LLC and Abigail P. Johnson.

Recommendation

hold

The filing indicates a significant, passive institutional investment by FMR LLC and Abigail P. Johnson in Flowco Holdings Inc. This suggests a vote of confidence from a major player in the financial industry. While the investment is not for control, a 10.2% stake is substantial and could be seen as a positive indicator for the company's stability and long-term prospects. However, without additional financial performance data or strategic updates from Flowco Holdings Inc. itself, a 'hold' recommendation is prudent. The filing primarily discloses ownership, not operational performance or future guidance that would warrant a 'buy' or 'sell' based solely on this information. It confirms institutional interest, which is a supportive factor.

Keywords

Flowco Holdings Inc., FMR LLC, Abigail P. Johnson, Class A Common Stock, beneficial ownership, institutional investment, SEC filing, Schedule 13G, equity stake, investment management

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