SCHEDULE: FMR LLC Boosts Stake in Steven Madden to 11%

Sentiment:

Beneficial Ownership Disclosure 5 February 2026 1:36 PM

FMR LLC and Abigail P. Johnson have reported an 11.0% beneficial ownership stake in STEVEN MADDEN LTD, holding over 8 million shares as of December 31, 2025.

Summary

FMR LLC and Abigail P. Johnson, through various entities, beneficially own 8,025,845.20 shares of STEVEN MADDEN LTD common stock.
This represents an 11.0% stake in the company's outstanding common stock.
FMR LLC, a parent holding company, holds these shares in the ordinary course of business and not for the purpose of changing or influencing control of STEVEN MADDEN LTD.
Abigail P. Johnson's beneficial ownership is derived from her role as Director, Chairman, and CEO of FMR LLC, and the Johnson family's predominant ownership and voting agreement regarding FMR LLC.
Several FMR LLC subsidiaries, including Fidelity Management & Research Company LLC, are involved in the beneficial ownership, with Fidelity Management & Research Company LLC specifically owning 5% or greater of the outstanding shares.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, as a large, reputable institutional investor maintaining an 11.0% stake suggests continued confidence in STEVEN MADDEN LTD, without any indication of an activist agenda.

Positives

A significant institutional investor, FMR LLC, maintains a substantial 11.0% stake in STEVEN MADDEN LTD, indicating continued confidence in the company.
The holding is stated to be in the ordinary course of business, suggesting a long-term investment perspective rather than an activist stance.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding STEVEN MADDEN LTD's future performance or operations.

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.

Industry Context

StockSavvy.ai notes that a significant institutional holding by a major asset manager like FMR LLC in a fashion and accessories company such as STEVEN MADDEN LTD can signal long-term confidence in the company's market position and brand strength. This type of disclosure is common for large investment firms managing diverse portfolios across various consumer discretionary sectors.

Comparison to Industry Standards

A 11.0% stake by a major institutional investor like FMR LLC is a substantial holding, often seen as a vote of confidence. For instance, similar large institutional stakes are observed in comparable fashion and retail companies such as Capri Holdings (CPRI) or Tapestry (TPR), where major asset managers frequently hold significant positions, often exceeding 5-10%.
The declaration that the holding is for ordinary course of business, rather than for control, aligns with standard passive investment strategies employed by large mutual fund complexes, differentiating it from activist investor filings (Schedule 13D) which typically aim to influence management or corporate strategy.

Stakeholder Impact

Shareholders: The continued significant institutional ownership by FMR LLC may provide a level of stability and confidence in the stock, potentially attracting other investors.
Management: The filing indicates a passive investment, suggesting no immediate pressure from this large shareholder to alter management strategy or operations.

Next Steps

FMR LLC and Abigail P. Johnson will continue to file amendments to this Schedule 13G if there are material changes to their beneficial ownership of STEVEN MADDEN LTD common stock.

Key Dates

Date	Description
2023-01-03	Effective date of Power of Attorney for FMR LLC.
2023-01-10	Date FMR LLC filed a Schedule 13G with Exhibit 24 (Power of Attorney).
2023-01-26	Effective date of Power of Attorney for Abigail P. Johnson.
2023-01-31	Date FMR LLC filed a Schedule 13G with Exhibit 24 (Power of Attorney for Abigail P. Johnson).
2025-12-31	Date of event which requires filing of this statement (beneficial ownership snapshot).
2026-02-04	Date of signing and filing of this Schedule 13G Amendment No. 3.

Recommendation

hold

The filing is a routine beneficial ownership disclosure by a large institutional investor, FMR LLC, maintaining a significant 11.0% stake in STEVEN MADDEN LTD. This indicates a continued, passive investment in the company. While the substantial holding is a positive signal of institutional confidence, the filing itself does not provide new operational or financial data to warrant a 'buy' or 'sell' recommendation. Therefore, a 'hold' recommendation is appropriate, suggesting investors maintain their current positions based on existing company fundamentals and market conditions, awaiting further operational updates.

Keywords

STEVEN MADDEN LTD, FMR LLC, Abigail P. Johnson, Beneficial Ownership, Schedule 13G, Common Stock, Institutional Investor, Footwear, Accessories, Retail

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