SCHEDULE: FMR LLC Boosts Thryv Holdings Stake to 13.9%
Beneficial Ownership Report (Schedule 13G Amendment)
FMR LLC and Abigail P. Johnson have disclosed a beneficial ownership of 13.9% of Thryv Holdings Inc.'s common stock as of June 30, 2025.
Summary
- FMR LLC and Abigail P. Johnson collectively reported beneficial ownership of 6,062,804 shares of Thryv Holdings Inc. common stock.
- This represents 13.9% of the class of securities.
- The filing is an Amendment No. 5 to a Schedule 13G.
- FMR LLC, a Delaware entity, holds sole voting power over 6,062,161 shares and sole dispositive power over 6,062,804 shares.
- Abigail P. Johnson, a U.S. citizen, holds sole dispositive power over 6,062,804 shares.
- The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
- The filing includes a Rule 13d-1(k)(1) agreement for joint filing by FMR LLC and Abigail P. Johnson.
Sentiment
Score: 5
Explanation: The filing is a factual disclosure of beneficial ownership by FMR LLC and Abigail P. Johnson, indicating a significant stake in Thryv Holdings Inc. It does not contain information about the company's financial performance or operational outlook, thus a neutral sentiment is assigned.
Positives
- Significant institutional investment by FMR LLC, a major asset manager, indicates confidence in Thryv Holdings Inc.
- The filing states the shares were acquired and are held in the ordinary course of business, suggesting a passive investment rather than an activist stance.
Risks
- Concentration of ownership: FMR LLC and Abigail P. Johnson collectively hold a significant 13.9% stake, which could influence future corporate actions or share price volatility based on their investment decisions.
- Potential for future changes in ownership: While currently passive, any future changes in their investment strategy could impact the stock.
Future Outlook
NA
Industry Context
This filing indicates continued or increased institutional interest in Thryv Holdings Inc. by a major asset management firm, FMR LLC (Fidelity). Such significant stakes by large investment managers can signal perceived value or strategic positioning within the software and services industry for small and medium-sized businesses, which Thryv operates in.
Comparison to Industry Standards
- FMR LLC (Fidelity) is a prominent global asset manager, and its significant stake in Thryv Holdings Inc. aligns with typical institutional investment strategies that involve taking substantial positions in publicly traded companies.
- The 13.9% stake is a notable position for a single institutional investor, often indicating a long-term investment horizon or a belief in the company's strategic direction, similar to other large institutional holdings seen in companies like Salesforce (CRM) or Adobe (ADBE) by major funds.
- The filing's nature as a Schedule 13G (passive investment) is standard for large asset managers who do not intend to influence control, differentiating it from activist 13D filings.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director, Chairman, Chief Executive Officer | NA | Abigail P. Johnson | NA | Abigail P. Johnson's role at FMR LLC is noted as part of the beneficial ownership disclosure, clarifying her connection to the reporting entity, FMR LLC. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Ownership Structure Disclosure | The filing details the ownership structure of FMR LLC, noting that members of the Johnson family, including Abigail P. Johnson, are predominant owners of Series B voting common shares (49% voting power) and have a voting agreement to vote in accordance with the majority. This clarifies the control structure within the reporting entity, FMR LLC. | NA | Provides transparency into the internal governance and control mechanisms of FMR LLC, the beneficial owner, which indirectly influences the management of the reported shares. |
Stakeholder Impact
- Shareholders: The disclosure of a significant 13.9% stake by a major institutional investor like FMR LLC could be viewed positively, potentially signaling confidence in the company and attracting other investors. It also indicates a large block of shares held by a single entity, which could influence liquidity or future strategic decisions.
Key Dates
| Date | Description |
|---|---|
| 05/23/2023 | Effective date of Power of Attorney for Richard Bourgelas on behalf of FMR LLC and Abigail P. Johnson. |
| 08/08/2023 | Date of previous Schedule 13G filing by FMR LLC (accession number -23-002397) where the Power of Attorney was incorporated by reference. |
| 06/30/2025 | Date of event which requires filing of this statement (beneficial ownership snapshot date). |
| 08/05/2025 | Date of signing and joint filing agreement for this Schedule 13G. |
Keywords
Thryv Holdings Inc, THRYV, FMR LLC, Abigail P. Johnson, Schedule 13G, beneficial ownership, common stock, institutional investment, SEC filing, corporate governance
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