SCHEDULE: FMR LLC & Abigail Johnson Boost Patria Investments Stake

FMR LLC and Abigail P. Johnson have disclosed an 8.7% beneficial ownership stake in Patria Investments Ltd.'s Class A Common Stock.

Summary

• FMR LLC and Abigail P. Johnson collectively beneficially own 5,646,339 shares of Patria Investments Ltd.'s Class A Common Stock.
• This aggregate ownership represents 8.7% of the Class A Common Stock outstanding.
• FMR LLC holds sole voting power over 5,646,015 shares and sole dispositive power over 5,646,339 shares.
• Abigail P. Johnson holds sole dispositive power over 5,646,339 shares, with no sole or shared voting power.
• The filing is an Amendment No. 2 to Schedule 13G, indicating a change from a previous filing.
• FMR LLC is classified as a parent holding company or control person, while Abigail P. Johnson is an individual.
• The Johnson family, including Abigail P. Johnson, are predominant owners of FMR LLC's Series B voting common shares, representing 49% of the voting power, and form a controlling group through a voting agreement.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of beneficial ownership, which is neutral in sentiment. It indicates a significant, ongoing investment by a major institutional player.

Positives

• Increased transparency regarding significant beneficial ownership in Patria Investments Ltd.
• The filing indicates continued investment interest from a major institutional investor (FMR LLC) and its principal.

Negatives

• No explicit negative information is contained within this beneficial ownership disclosure.

Risks

• The concentration of voting power within the Johnson family group regarding FMR LLC could influence FMR LLC's decisions related to its investment in Patria Investments Ltd.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding Patria Investments Ltd.'s future performance or FMR LLC's investment strategy beyond the current ownership stake.

Industry Context

This filing reflects a significant ownership stake by a major asset management firm, FMR LLC (Fidelity), in Patria Investments Ltd., a leading alternative asset manager focused on Latin America. Such disclosures are common for large institutional investors managing client assets or proprietary investments.

Comparison to Industry Standards

• This filing is a standard Schedule 13G, which is a common disclosure for institutional investors acquiring more than 5% of a company's stock. The 8.7% stake is a notable position for an institutional investor in a company like Patria Investments Ltd., which operates in the alternative asset management space, similar to firms such as Blackstone, KKR, or Apollo Global Management, though Patria's focus is primarily Latin America.

Corporate Governance

Stakeholder Impact

• Shareholders of Patria Investments Ltd. gain transparency regarding a significant institutional holder's stake, which can be viewed as a vote of confidence.
• Investment professionals can use this information to track institutional ownership trends and potential influence on the company.

Next Steps

• FMR LLC and Abigail P. Johnson will continue to file amendments to Schedule 13G if their beneficial ownership percentage changes significantly (e.g., by 1% or more) or if they change their investment intent from passive to active.

Key Dates

Keywords

Patria Investments, FMR LLC, Abigail P. Johnson, Beneficial Ownership, Class A Common Stock, Investment Management, Institutional Investor, SEC Filing, Schedule 13G