SCHEDULE: FMR LLC & Abigail Johnson Boost Privia Health Stake to 10.1%

FMR LLC and Abigail P. Johnson have reported an aggregate beneficial ownership of 10.1% of Privia Health Group Inc.'s common stock as of September 30, 2025.

Summary

• FMR LLC and Abigail P. Johnson collectively beneficially own 12,364,530.76 shares of Privia Health Group Inc. common stock.
• This represents 10.1% of the total outstanding common stock of Privia Health Group Inc.
• The filing is an Amendment No. 4 to a Schedule 13G, indicating an update to a previously reported beneficial ownership.
• FMR LLC holds sole voting power over 12,355,665.00 shares and sole dispositive power over 12,364,530.76 shares.
• Abigail P. Johnson holds sole dispositive power over 12,364,530.76 shares, reflecting her indirect influence through FMR LLC.
• The shares were acquired and are held in the ordinary course of business, explicitly not for the purpose of changing or influencing control of the issuer.
• Several FMR LLC subsidiaries are identified as beneficially owning shares, with Fidelity Management & Research Company LLC owning 5% or greater of the outstanding shares.

Sentiment

Score: 6

Explanation: The filing is a routine beneficial ownership report, indicating a significant institutional stake in Privia Health Group Inc. by FMR LLC and Abigail P. Johnson. While not directly impacting financial performance, a substantial institutional holding can be viewed as a positive signal of investor confidence, hence a slightly positive score.

Positives

• The disclosure of a significant institutional stake by FMR LLC and Abigail P. Johnson may signal confidence in Privia Health Group Inc.'s long-term prospects.

Negatives

• No specific negative information is contained within this beneficial ownership report.

Risks

• The filing explicitly states that the shares were not acquired for the purpose of changing or influencing control of the issuer, mitigating a common concern with large stakes.
• Abigail P. Johnson, as a predominant owner of FMR LLC, may be deemed to form a controlling group with respect to FMR LLC under the Investment Company Act of 1940, which could imply a concentration of influence within FMR LLC's decision-making regarding its investment in Privia Health Group 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 filing reflects a significant institutional investment in Privia Health Group Inc., a company operating in the healthcare sector. Large stakes by entities like FMR LLC can be seen as a vote of confidence in the company's business model or the broader healthcare industry, particularly in value-based care or physician enablement models that Privia Health operates in.

Comparison to Industry Standards

• Institutional ownership of 10.1% by a major asset manager like FMR LLC is a substantial stake, indicating significant investor interest.
• While specific comparisons to other companies' institutional ownership levels are not provided in the filing, such a position from a prominent investment firm like FMR LLC (Fidelity) is generally considered a strong endorsement and is often watched by other market participants.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional investor holding 10.1% of the common stock provides transparency and may influence market perception, potentially signaling confidence in the company.
• Management: Awareness of a large institutional holder may influence management's strategic decisions, though the filing explicitly states no intent to influence control.

Next Steps

• FMR LLC and Abigail P. Johnson will be required to file further amendments to Schedule 13G if their beneficial ownership materially changes (e.g., increases or decreases by more than 1% of the class).

Key Dates

Recommendation

This Schedule 13G filing primarily provides transparency regarding a significant institutional ownership stake by FMR LLC and Abigail P. Johnson in Privia Health Group Inc. While a 10.1% holding by a reputable firm like FMR LLC can be interpreted as a vote of confidence, the filing itself does not contain financial performance data, strategic updates, or forward-looking guidance from the issuer that would typically drive a 'buy' or 'sell' recommendation. It confirms a substantial, passive investment, suggesting a 'hold' position for existing investors who might view this as a stable institutional backing, but it doesn't provide new fundamental reasons for initiating a new position or divesting.

Keywords

Privia Health Group Inc., FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Healthcare, Investment Management