SCHEDULE: FMR LLC Discloses 3.2% Stake in StepStone Group
Beneficial Ownership Disclosure
FMR LLC and Abigail P. Johnson have disclosed a beneficial ownership of 3.2% of StepStone Group Inc.'s Class A Common Stock as of June 30, 2025.
Summary
- FMR LLC and Abigail P. Johnson jointly filed a Schedule 13G, reporting beneficial ownership of StepStone Group Inc.'s Class A Common Stock.
- As of June 30, 2025, the aggregate amount beneficially owned is 2,432,527.20 shares.
- This represents 3.2% of the Class A Common Stock outstanding.
- FMR LLC holds sole voting power over 2,428,306.00 shares and sole dispositive power over 2,432,527.20 shares.
- Abigail P. Johnson holds sole dispositive power over 2,432,527.20 shares.
- The filing indicates that FMR LLC is a parent holding company, and Abigail P. Johnson is an individual, also noted as a Director, Chairman, and CEO of FMR LLC.
- The Johnson family, including Abigail P. Johnson, are predominant owners of FMR LLC's Series B voting common shares, representing 49% of voting power, and are deemed to form a controlling group with respect to FMR LLC.
Sentiment
Score: 5
Explanation: This is a factual disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the issuer's performance or prospects.
Risks
- Concentration of voting power within FMR LLC, with FMR LLC holding sole voting power over a significant portion of the reported shares.
- Potential for the Johnson family, through their control of FMR LLC, to influence decisions related to the shares held by FMR LLC.
Future Outlook
NA
Industry Context
NA
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Ownership Structure Disclosure | Disclosure of the Johnson family's predominant ownership and control over FMR LLC through Series B voting common shares and a shareholders' voting agreement, which may be deemed to form a controlling group. | NA | Clarifies the ultimate control structure behind FMR LLC's beneficial ownership in Stepstone Group Inc. |
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's stake and the underlying control structure of that investor.
Key Dates
| Date | Description |
|---|---|
| 2023-05-23 | Effective date of Power of Attorney for Richard Bourgelas to sign on behalf of FMR LLC and Abigail P. Johnson. |
| 2023-08-08 | Date of previous Schedule 13G filing by FMR LLC, where the Power of Attorney was incorporated by reference. |
| 2025-06-30 | Date of event which requires filing of this statement; beneficial ownership reported as of this date. |
| 2025-08-05 | Date of signing and joint filing agreement for this Schedule 13G. |
Keywords
StepStone Group Inc, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Class A Common Stock, Institutional Investor, Asset Management, SEC Filing
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