SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 5.9% Stake in Royalty Pharma PLC

FMR LLC and its Chairman and CEO, Abigail P. Johnson, have filed an amended Schedule 13G, disclosing a beneficial ownership of 5.9% of Royalty Pharma PLC's Class A Common Stock as of December 31, 2024.

Summary

• FMR LLC and Abigail P. Johnson, as reporting persons, collectively beneficially own 26,309,327.33 shares of Royalty Pharma PLC's Class A Common Stock.
• This ownership represents 5.9% of the total outstanding Class A Common Stock of Royalty Pharma PLC.
• FMR LLC holds sole voting power over 20,294,484.06 shares and sole dispositive power over 26,309,327.33 shares.
• Abigail P. Johnson, through her role as Director, Chairman, and CEO of FMR LLC, is deemed to have sole dispositive power over the same 26,309,327.33 shares.
• The filing indicates that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Royalty Pharma PLC.
• The filing is an Amendment No. 4 to a previously filed Schedule 13G.
• FMR LLC is classified as a Parent Holding Company (HC), and Abigail P. Johnson is classified as an Individual (IN) for reporting purposes.
• Several subsidiaries and affiliates of FMR LLC, including FIAM LLC, Fidelity Diversifying Solutions LLC, Fidelity Institutional Asset Management Trust Company, Fidelity Management & Research Company LLC, Fidelity Management Trust Company, and Strategic Advisers LLC, are identified as entities that beneficially own shares.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership, which is neutral in sentiment. It does not contain positive or negative performance indicators or forward-looking statements from the issuer.

Future Outlook

NA

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, 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." (Certification by FMR LLC and Abigail P. Johnson)

Industry Context

This Schedule 13G filing indicates a significant passive investment by a major institutional asset manager, FMR LLC (Fidelity), in Royalty Pharma PLC. Such filings are standard disclosures required when an entity's beneficial ownership in a public company exceeds 5%. For Royalty Pharma PLC, a company focused on acquiring royalty interests in pharmaceutical products, a stable institutional shareholder base like Fidelity can signal long-term confidence in its business model, which relies on the success of underlying drug assets.

Related Party Transactions

• Members of the Johnson family, including Abigail P. Johnson, are the predominant owners of Series B voting common shares of FMR LLC, representing 49% of its voting power. They have a shareholders' voting agreement to vote Series B shares in accordance with the majority vote, potentially forming a controlling group with respect to FMR LLC under the Investment Company Act of 1940.

Stakeholder Impact

• Shareholders: The disclosure of a significant 5.9% stake by a major institutional investor like FMR LLC can be viewed positively, indicating institutional confidence and potentially contributing to market stability for Royalty Pharma PLC's stock.
• Investment Professionals: Provides transparency regarding the ownership structure of Royalty Pharma PLC, which is crucial for market analysis and investment decisions.

Key Dates

Keywords

Royalty Pharma PLC, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Class A Common Stock, Institutional Investor, SEC Filing, Investment Management, Pharmaceutical Royalties