SCHEDULE: FMR LLC & Abigail Johnson Boost Magnite Stake to 5.7%

FMR LLC and its affiliates, along with Abigail P. Johnson, reported a 5.7% beneficial ownership stake in Magnite Inc. common stock as of November 28, 2025.

Summary

• FMR LLC and Abigail P. Johnson jointly reported beneficial ownership of 8,124,919.71 shares of Magnite Inc. common stock.
• This represents 5.7% of Magnite Inc.'s outstanding common stock.
• The filing is an Amendment No. 2 to a Schedule 13G, indicating a change from previous disclosures.
• FMR LLC, a Delaware-organized parent holding company, holds sole voting power over 8,114,117.79 shares and sole dispositive power over 8,124,919.71 shares.
• Abigail P. Johnson, a U.S. citizen, holds sole dispositive power over 8,124,919.71 shares but no sole or shared voting power directly.
• The shares are held in the ordinary course of business and not for the purpose of changing or influencing control of Magnite 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 beneficially owning shares.
• Abigail P. Johnson, as Director, Chairman, and CEO of FMR LLC, and a predominant owner of FMR LLC's voting shares, is deemed part of a controlling group with respect to FMR LLC.

Sentiment

Score: 5

Explanation: The filing is a standard beneficial ownership disclosure (Schedule 13G) and does not contain information that would inherently convey positive or negative sentiment regarding the issuer's performance or prospects. It simply reports a significant institutional stake.

Positives

• FMR LLC, a major institutional investor, and its principal, Abigail P. Johnson, have disclosed a 5.7% beneficial ownership stake in Magnite Inc., signaling institutional confidence.
• The reporting persons certified 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 Magnite Inc.

Future Outlook

NA

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 Schedule 13G filing indicates a significant passive investment by a major institutional asset manager, FMR LLC (Fidelity), and its principal, Abigail P. Johnson, in Magnite Inc. Such filings are standard disclosures required when an entity acquires more than 5% of a company's voting shares, signaling institutional confidence or a strategic allocation within a diversified portfolio. For Magnite, a company operating in the ad-tech space, a substantial institutional holding can be viewed positively by the market, suggesting validation of its business model and market position by a sophisticated investor.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by FMR LLC and Abigail P. Johnson may be viewed as a vote of confidence, potentially stabilizing or positively influencing investor perception of Magnite Inc.
• Management: The certification that the shares are not held for the purpose of changing or influencing control suggests a passive investment, which may reassure Magnite's current management.

Key Dates

Recommendation

This filing is a standard Schedule 13G, indicating a significant passive ownership stake by FMR LLC and Abigail P. Johnson in Magnite Inc. While a large institutional holding can be seen as a positive signal of confidence, this type of filing does not provide sufficient financial or operational details to warrant a 'buy' or 'sell' recommendation. It primarily serves as a disclosure of ownership, suggesting a 'hold' recommendation as it doesn't present new information that fundamentally alters the investment thesis, but rather confirms institutional interest.

Keywords

Magnite Inc, FMR LLC, Abigail P. Johnson, Beneficial Ownership, Common Stock, Schedule 13G, Institutional Investor, AdTech, Programmatic Advertising