SCHEDULE 13G/A: FIL Limited and Affiliates Disclose 1.2% Stake in IQIYI INC Class A Common Stock
Beneficial Ownership Report
FIL Limited, along with Pandanus Partners, L.P. and Pandanus Associates, Inc., has filed an amended Schedule 13G reporting a combined beneficial ownership of 1.2% of IQIYI INC's Class A Common Stock as of December 31, 2024.
Summary
- FIL Limited, Pandanus Partners, L.P., and Pandanus Associates, Inc. jointly filed an Amendment No. 2 to Schedule 13G regarding their beneficial ownership in IQIYI INC's Class A Common Stock.
- As of December 31, 2024, the reporting persons collectively beneficially own 24,780,742 shares of IQIYI INC Class A Common Stock.
- This aggregate amount represents 1.2% of the total outstanding Class A Common Stock of IQIYI INC.
- FIL Limited holds sole voting and sole dispositive power over all 24,780,742 shares.
- Pandanus Partners, L.P. and Pandanus Associates, Inc. hold sole dispositive power over the same 24,780,742 shares, but no sole or shared voting power.
- The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of IQIYI INC.
- Pandanus Partners, L.P. owns a significant portion of FIL Limited's voting stock (normally between 25% and 48.5%), and Pandanus Associates, Inc. is the general partner of Pandanus Partners, L.P.
Sentiment
Score: 5
Explanation: Neutral. A Schedule 13G is a factual disclosure of ownership and does not inherently convey positive or negative sentiment about the company's performance or prospects. The 1.2% stake is relatively small and the filing indicates it's for ordinary course of business, not control.
Positives
- A significant institutional investor, FIL Limited, maintains a beneficial ownership stake in IQIYI INC.
Future Outlook
NA
Industry Context
NA
Related Party Transactions
- Pandanus Partners, L.P. owns voting stock in FIL Limited, typically representing between 25% and 48.5% of total votes.
- Pandanus Associates, Inc. acts as the general partner of Pandanus Partners, L.P.
- Pandanus Partners, L.P. is owned by trusts for the benefit of members of the Johnson family, including FIL's Chairman Abigail P. Johnson.
Stakeholder Impact
- Shareholders: Provides transparency regarding significant institutional ownership, though the 1.2% stake is not a controlling interest.
Key Dates
| Date | Description |
|---|---|
| 12/19/2022 | Effective date of Power of Attorney for Stephanie J. Brown. |
| 01/31/2023 | Date of previous Schedule 13G filing by FIL Limited (accession number -23-000005) where the Power of Attorney was incorporated by reference. |
| 12/31/2024 | Date of event which requires filing of this statement (reporting period end date). |
| 02/11/2025 | Date of signing and joint filing agreement for this Schedule 13G Amendment No. 2. |
Keywords
IQIYI INC, Class A Common Stock, Schedule 13G, Beneficial Ownership, FIL Limited, Pandanus Partners L.P., Pandanus Associates Inc., SEC Filing, Institutional Ownership
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