EdgePoint discloses 17.7% stake in Mattel bought for about $830m and gains a board seat

EdgePoint Investment Group, a Toronto-based investment manager, reported beneficial ownership of 50,515,811 shares of Mattel Inc (CIK 63276), about 17.68% of the common stock, in a Schedule 13D filed with the SEC on 22 October 2026. The date of the event requiring the filing was 21 October 2026.

The percentage is calculated on 285.7 million shares outstanding at 24 July 2026. EdgePoint has sole voting and dispositive power over 36,425,584 shares and shared power over 14,090,227 (Schedule 13D, 22 October 2026, Item 5).

The shares were bought on the open market with the capital of funds and accounts EdgePoint manages, at an aggregate cost of about $829.7m excluding brokerage commissions (Schedule 13D, 22 October 2026, Item 3).

The filing says that after the departure of Mattel's former chairman and chief executive, the company invited EdgePoint to propose a board nominee. On 21 October Mattel enlarged its board by one seat and appointed an EdgePoint partner to it, and agreed to nominate him at the 2027 annual meeting for a term running to the 2028 meeting (Schedule 13D, 22 October 2026, Item 4).

Under a cooperation agreement dated 21 October 2026, EdgePoint accepts customary standstill, voting and mutual non-disparagement provisions. The appointment and nomination obligations end if its holding falls below 10% of the outstanding shares, and Mattel will reimburse up to $500,000 of EdgePoint's documented expenses (Schedule 13D, 22 October 2026, Items 4 and 6).

The filing states that the shares were acquired for investment purposes in the ordinary course of business and that EdgePoint has no present plan or proposal beyond those described. EdgePoint's funds sold shares on four dates between 24 August and 28 September 2026, the largest a sale of 38,509 shares at $13.26 (Schedule 13D, 22 October 2026, Item 5(c)).

The filings do not state what changes, if any, EdgePoint will propose to Mattel's strategy. Loro has made no approach to the company. Figures are as reported in EdgePoint's SEC filings.