SCHEDULE: FMR LLC Boosts Reddit Stake to 10.4%

FMR LLC and Abigail P. Johnson reported a 10.4% beneficial ownership stake in Reddit, Inc.'s Class A Common Stock as of June 30, 2025.

Summary

• FMR LLC and Abigail P. Johnson collectively hold 13,768,849.59 shares of Reddit, Inc. Class A Common Stock.
• This represents 10.4% of the outstanding Class A Common Stock.
• The beneficial ownership includes 2,588,430 shares of Class B Common Stock, held by FMR LLC's investment company subsidiaries, which are convertible to Class A Common Stock on a 1:1 basis.
• These convertible Class B shares represent 4.7147% of the outstanding Class B Common Stock.
• Assuming the conversion of all outstanding Class B Common Stock into Class A Common Stock, the reported Class A ownership would represent 7.4721% of the outstanding Class A Common Stock.
• The shares are held in the ordinary course of business and were not acquired or held for the purpose of changing or influencing control of Reddit, Inc.

Sentiment

Score: 7

Explanation: The filing indicates a substantial and stable institutional investment by FMR LLC, a major asset manager, in Reddit. This suggests confidence in the company's long-term prospects and stability, as the holding is for ordinary course of business and not for control. While not a performance report, significant institutional ownership is generally viewed positively by the market.

Positives

• Significant institutional investment by FMR LLC, a major asset manager, indicating confidence in Reddit's long-term prospects.
• The holding is for investment purposes in the ordinary course of business, not for control, suggesting a stable, non-activist long-term investment.

Negatives

• No specific negative information is disclosed in this beneficial ownership filing.

Risks

• The filing itself does not detail specific operational or financial risks of Reddit, Inc., as it is a beneficial ownership report.

Future Outlook

N/A. This filing is a beneficial ownership report and does not contain forward-looking statements or guidance regarding Reddit, Inc.'s operations or financial performance.

Management Comments

• The securities 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.

Industry Context

This filing indicates a significant institutional investment in a prominent social media and online community platform, reflecting continued investor interest in the digital content and advertising sectors. Large institutional holdings like this can signal long-term confidence in the company's market position and growth potential within the competitive social media landscape.

Comparison to Industry Standards

• N/A. This filing is a beneficial ownership report and does not provide performance metrics for comparison against industry standards or specific competitors like Meta Platforms (Facebook, Instagram), Alphabet (YouTube), or X (formerly Twitter).

Stakeholder Impact

• Shareholders: Increased institutional ownership by a major asset manager like FMR LLC may enhance investor confidence and potentially contribute to stock stability.
• Company Management: A significant, non-activist institutional holder like FMR LLC can provide a stable shareholder base, potentially reducing volatility from short-term trading.

Next Steps

• N/A. This filing is a disclosure of current beneficial ownership and does not outline future actions or milestones for Reddit, Inc.

Key Dates

Recommendation

The filing indicates a significant and stable institutional investment by FMR LLC, a prominent asset manager, in Reddit, Inc. This substantial stake, held for ordinary course of business rather than control, suggests a long-term investment perspective and confidence in the company's fundamentals. While this filing alone does not provide operational or financial performance data to warrant a 'buy' or 'sell' recommendation, the presence of a major institutional investor like FMR LLC as a significant shareholder is generally a positive signal for stability and long-term value, supporting a 'hold' position for existing investors.

Keywords

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