Pictet Asset Management (FBIN) discloses 7.6M-share Fortune Brands stake

Rhea-AI Filing Summary

Pictet Asset Management, a Swiss investment adviser, has filed a Schedule 13D disclosing beneficial ownership of 7,618,863 shares of Fortune Brands Innovations, Inc.USD 493,174,715.23 on behalf of its institutional clients.

Pictet has sole voting power over 7,377,379 of these shares and sole dispositive power over the full 7,618,863 shares. The position is held in client accounts, with clients entitled to dividends and sale proceeds, while Pictet receives management and performance-based fees.

The stake is part of Pictet’s broader investment strategy, which emphasizes long-term strategy, governance quality, financial strength, valuation, and financially material sustainability factors. Pictet is actively engaging with Fortune Brands’ board and management but states it currently has no plans to change control, while reserving the right to adjust its intentions over time.

Insights

Governance and activism analyst

Pictet discloses a sizable, engagement-focused stake but stops short of explicit activism.

Pictet Asset Management reports holding 7,618,863 Fortune Brands shares for institutional clients at a cost of about USD 493,174,715.23. It controls voting and disposal of these shares, giving it meaningful influence potential without direct economic ownership beyond fees.

The firm frames the position within an investment approach that weighs long-term strategy, governance calibre, financial strength, valuation, and sustainability risks and opportunities. It is already engaging with Fortune Brands’ leadership to promote initiatives aligned with these priorities, which can shape corporate policies over time.

Pictet explicitly states no current plans to change control or buy shares for that purpose, and it has no derivatives or special arrangements around the stock. Future influence will depend on how its ongoing engagement evolves and whether it chooses to pursue more assertive actions in later disclosures.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

Fortune Brands Innovations, Inc.

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

(CUSIP Number)

Mathieu Cornu
Route des Acacias 60,
Geneva, V8, 1211
0041583234506

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

03/17/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

PICTET ASSET MANAGEMENT SA

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

SWITZERLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 7,377,379.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 7,618,863.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

7,618,863.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.4 %

14

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: COMMON STOCK
(b)	Name of Issuer: Fortune Brands Innovations, Inc.
(c)	Address of Issuer's Principal Executive Offices: 1 HORIZON WAY, BUILDING N, DEERFIELD, ILLINOIS , 60015.
Item 2.	Identity and Background
(a)	Pictet Asset Management SA
(b)	60 ROUTE DES ACACIAS GENEVA 73 1211 SWITZERLAND
(c)	Investment Adviser
(d)	The Reporting Person has not been, during the last five years, convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	The Reporting Person has not been, during the last five years, a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding of any violation with respect to such laws.
(f)	SWITZERLAND
Item 3.	Source and Amount of Funds or Other Consideration
	The Reporting Person acquired the shares of common stock of Fortune Brands Innovations Inc on behalf of its institutional clients who are managed on a discretionary basis. The purchase cost is approximately USD 493,174,715.23. The source of the funds comes from our institutional clients' assets The funds used for the acquisition did not involve any financing or borrowing.
Item 4.	Purpose of Transaction
	The Reporting Person acquired shares of Fortune Brands Innovations Inc as part of its investment strategy, which includes considering the clarity and robustness of the issuer's long-term strategy; the functioning and calibre of governance structures and effective leadership; the financial strength and performance of issuers and the fair valuation of underlying securities; and financially-material sustainability risks & opportunities. The Reporting Person is therefore actively engaging with the Issuer to discuss and promote initiatives that align with these business practices. This engagement is part of the Reporting Person's broader strategy to support companies in enhancing their approach, thereby potentially improving long-term shareholder value. As such, the Reporting Person may seek to influence the Issuer's policies and practices through discussions with the Boards and management of the companies in which we invest. The Reporting Person does not currently have any plans or proposals that would result in a change in control of the Issuer, nor does it intend to acquire additional shares for the purpose of gaining control. However, the Reporting Person reserves the right to change its intentions and take any actions that it deems appropriate in light of its ongoing engagement and evaluation of the Issuer's policies and practices.
Item 5.	Interest in Securities of the Issuer
(a)	Pictet Asset Management SA manages 7,618,863 shares of Fortune Brands Innovations Inc , which represents 6.35% of the total number of shares.
(b)	Pictet Asset Management SA has the Sole power to vote on 7,377,379 shares out of the 7,618,863 shares under management.
(c)	Trade Date Type Quantity Price Exchange 17.03.2026 BUY 6'679.00 44.5409000 New York Stock Exchange 17.03.2026 BUY 60'527.00 44.5410000 New York Stock Exchange 17.03.2026 BUY 48'219.00 44.4241000 New York Stock Exchange 17.03.2026 BUY 1'290'937.00 44.4241000 New York Stock Exchange 17.03.2026 BUY 23'154.00 44.4241000 New York Stock Exchange 17.03.2026 BUY 13'323.00 44.4241000 New York Stock Exchange 16.03.2026 BUY 5'356.00 43.8735000 New York Stock Exchange 16.03.2026 BUY 11'153.00 43.8735000 New York Stock Exchange 16.03.2026 BUY 3'082.00 43.8735000 New York Stock Exchange 16.03.2026 BUY 298'609.00 43.8735000 New York Stock Exchange 16.03.2026 BUY 1'175.00 43.9917000 New York Stock Exchange 16.03.2026 BUY 2'447.00 43.9917000 New York Stock Exchange 16.03.2026 BUY 65'500.00 43.9917000 New York Stock Exchange 16.03.2026 BUY 676.00 43.9917000 New York Stock Exchange 13.03.2026 BUY 1'912.00 43.3739000 New York Stock Exchange 13.03.2026 BUY 53'718.00 43.3739000 New York Stock Exchange 13.03.2026 BUY 570.00 43.3739000 New York Stock Exchange 13.03.2026 BUY 907.00 43.3739000 New York Stock Exchange 10.03.2026 BUY 105'245.00 45.6931000 New York Stock Exchange 09.03.2026 SELL 16'508.00 44.4872000 New York Stock Exchange 05.03.2026 BUY 1'378.00 49.7170000 New York Stock Exchange 05.03.2026 BUY 459.00 49.4700000 New York Stock Exchange 05.03.2026 BUY 763.00 49.7170000 New York Stock Exchange 05.03.2026 BUY 325.00 49.4700000 New York Stock Exchange 05.03.2026 BUY 83'802.00 49.7170000 New York Stock Exchange 05.03.2026 BUY 18'407.00 49.4700000 New York Stock Exchange 05.03.2026 BUY 2'988.00 49.7170000 New York Stock Exchange 05.03.2026 BUY 809.00 49.4700000 New York Stock Exchange 04.03.2026 BUY 263.00 50.9465000 New York Stock Exchange 04.03.2026 BUY 252.00 51.0400000 New York Stock Exchange 04.03.2026 BUY 365.00 50.9419000 New York Stock Exchange 04.03.2026 BUY 424.00 50.9465000 New York Stock Exchange 04.03.2026 BUY 280.00 50.9419000 New York Stock Exchange 04.03.2026 BUY 29'169.00 50.9465000 New York Stock Exchange 04.03.2026 BUY 11'074.00 51.0400000 New York Stock Exchange 04.03.2026 BUY 11'767.00 50.9419000 New York Stock Exchange 04.03.2026 BUY 1'244.00 50.9465000 New York Stock Exchange 04.03.2026 BUY 274.00 51.0400000 New York Stock Exchange 04.03.2026 BUY 588.00 50.9419000 New York Stock Exchange 04.03.2026 BUY 3'164.00 50.8688000 New York Stock Exchange 04.03.2026 BUY 1'690.00 50.8688000 New York Stock Exchange 04.03.2026 BUY 173'024.00 50.8688000 New York Stock Exchange 04.03.2026 BUY 6'255.00 50.8688000 New York Stock Exchange 03.03.2026 BUY 201.00 49.7850000 New York Stock Exchange 03.03.2026 BUY 463.00 50.6138000 New York Stock Exchange 03.03.2026 BUY 756.00 50.4715000 New York Stock Exchange 03.03.2026 BUY 345.00 50.6138000 New York Stock Exchange 03.03.2026 BUY 853.00 50.4715000 New York Stock Exchange 03.03.2026 BUY 4'598.00 49.7850000 New York Stock Exchange 03.03.2026 BUY 16'313.00 50.6138000 New York Stock Exchange 03.03.2026 BUY 70'455.00 50.4715000 New York Stock Exchange 03.03.2026 BUY 201.00 49.7850000 New York Stock Exchange 03.03.2026 BUY 773.00 50.6138000 New York Stock Exchange 03.03.2026 BUY 2'432.00 50.4715000 New York Stock Exchange 03.03.2026 BUY 6'967.00 50.7285000 New York Stock Exchange 03.03.2026 BUY 3'768.00 50.7285000 New York Stock Exchange 03.03.2026 BUY 375'333.00 50.7285000 New York Stock Exchange 03.03.2026 BUY 13'932.00 50.7285000 New York Stock Exchange 27.02.2026 BUY 279.00 54.3400000 New York Stock Exchange 23.02.2026 BUY 504.00 55.9300000 New York Stock Exchange 20.02.2026 BUY 954.00 53.9439000 New York Stock Exchange 20.02.2026 BUY 453.00 53.9439000 New York Stock Exchange 17.02.2026 BUY 41'994.00 52.0957000 New York Stock Exchange 13.02.2026 BUY 170'000.00 51.6565000 New York Stock Exchange 13.02.2026 BUY 6'000.00 51.6565000 New York Stock Exchange 11.02.2026 BUY 566.00 63.8600000 New York Stock Exchange 11.02.2026 SELL 480.00 63.0700000 New York Stock Exchange 11.02.2026 SELL 1'260.00 62.7978000 New York Stock Exchange 11.02.2026 SELL 40'653.00 62.7978000 New York Stock Exchange 11.02.2026 SELL 312.00 62.7978000 New York Stock Exchange 11.02.2026 SELL 604.00 62.7978000 New York Stock Exchange 06.02.2026 SELL 194.00 60.5200000 New York Stock Exchange 05.02.2026 BUY 283.00 59.8500000 New York Stock Exchange 04.02.2026 BUY 34.00 61.1900000 New York Stock Exchange 03.02.2026 BUY 13'490.00 56.5997000 New York Stock Exchange 30.01.2026 BUY 755.00 54.5024000 New York Stock Exchange 30.01.2026 BUY 378.00 54.5024000 New York Stock Exchange 28.01.2026 BUY 96.00 55.4825000 New York Stock Exchange 28.01.2026 BUY 662.00 55.4825000 New York Stock Exchange 28.01.2026 BUY 295.00 55.4825000 New York Stock Exchange 20.01.2026 SELL 92.00 59.2283000 New York Stock Exchange 20.01.2026 SELL 7'663.00 59.2283000 New York Stock Exchange 20.01.2026 SELL 74'747.00 59.2337000 New York Stock Exchange
(d)	The securities reported herein come from the assets of our institutional clients who are managed by the Reporting Person on a discretionary basis. Consequently, our clients have the right to receive dividends and any proceeds from the sale of the Issuer's securities, in proportion to their respective managed assets. The Reporting Person itself does not have any direct economic interest in the dividends or sale proceeds from the securities of Fortune Brands Innovations Inc, other than its entitlement to management fees and / or performance-based compensation, as agreed upon with its clients. The Reporting Person's role is limited to managing the investments in accordance with the investment objectives and strategies set forth by each of its institutional clients.
(e)	Not applicable
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	The Reporting Person's exposure to Fortune Brands Innovations Inc is solely through direct stock investments held by its managed institutional clients. There are no contracts, arrangements, understandings, or relationships with any third parties regarding the securities of Fortune Brands Innovations Inc, other than those arising from the ordinary course of discretionary management of our client assets. The Reporting Person does not have any derivative positions, options, or other financial instruments related to the securities of the Issuer. Furthermore, there are no agreements or understandings that would influence the voting or disposition of these securities beyond the Reporting Person's discretionary investment authority as an asset manager.
Item 7.	Material to be Filed as Exhibits.
	N/A

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

PICTET ASSET MANAGEMENT SA

Signature:	Karine VALTANEN
Name/Title:	Karine VALTANEN Global Head of Compliance
Date:	03/17/2026

FAQ

What stake in Fortune Brands Innovations (FBIN) did Pictet Asset Management report?

Pictet Asset Management reported beneficial ownership of 7,618,863 Fortune Brands Innovations shares. These shares are held in discretionary institutional client accounts, giving Pictet control over voting and disposition, while the underlying clients retain the economic benefit from dividends and any sale proceeds.

How much did Pictet Asset Management pay for its FBIN position?

Pictet reports a total purchase cost of approximately USD 493,174,715.23. This amount reflects funds drawn entirely from institutional client assets, with no borrowing or external financing, and is managed on a discretionary basis under each client’s agreed investment objectives.

Does Pictet Asset Management control voting rights for its Fortune Brands Innovations shares?

Pictet has sole voting power over 7,377,379 Fortune Brands Innovations shares. It also has sole dispositive power over all 7,618,863 shares under management, allowing it to decide how to vote and when to sell within the limits of client mandates.

Why did Pictet Asset Management buy Fortune Brands Innovations (FBIN) shares?

Pictet acquired FBIN shares as part of its long-term, research-driven investment strategy. It evaluates issuers on strategic clarity, governance quality, financial strength, fair valuation, and financially material sustainability risks and opportunities, and sees FBIN fitting within these criteria for its clients.

Is Pictet Asset Management seeking control of Fortune Brands Innovations?

Pictet states it currently has no plans to change control of Fortune Brands Innovations. It is engaging with the company’s board and management on strategy, governance, and sustainability topics but explicitly disclaims any present intention to acquire shares for control purposes.

Does Pictet use derivatives or special arrangements for its FBIN exposure?

Pictet reports only direct stock investments in Fortune Brands Innovations for its clients. It states there are no derivatives, options, or special contracts or understandings affecting FBIN securities beyond ordinary discretionary asset management agreements with its institutional clients.