SCHEDULE: Vanguard Boosts Braze Stake to 9.04% in Latest Filing

The Vanguard Group has disclosed an increased beneficial ownership of 9.04% in Braze Inc. common stock, holding 8,958,415 shares as of September 30, 2025.

Summary

• The Vanguard Group reported beneficial ownership of 8,958,415 shares of Braze Inc. common stock.
• This represents 9.04% of Braze Inc.'s outstanding common stock.
• The filing is an Amendment No. 5 to a previous Schedule 13G, indicating an update to an existing position.
• Vanguard holds 0 shares with sole voting power, 541,158 shares with shared voting power, 8,320,727 shares with sole dispositive power, and 637,688 shares with shared dispositive power.
• As an investment adviser, Vanguard certifies that these securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Braze Inc.

Sentiment

Score: 6

Explanation: The filing is a routine ownership disclosure by a large institutional investor. It indicates a significant, passive stake in Braze Inc., which is generally neutral but can be seen as a positive signal of institutional confidence or inclusion in major funds. No new operational or financial information about Braze Inc. is provided.

Positives

• A significant institutional investor, The Vanguard Group, maintains a substantial stake (9.04%) in Braze Inc., indicating continued inclusion in their managed funds or index portfolios.
• The filing confirms Vanguard's position as a passive investor, not seeking to influence control, which can provide stability to the company's governance structure.

Negatives

• No specific negative information about Braze Inc.'s operational or financial performance is contained within this ownership disclosure.

Risks

• No specific risks related to Braze Inc.'s operations, financial health, or market position are disclosed in this ownership filing.

Future Outlook

Not applicable, as this filing is an ownership disclosure and does not contain forward-looking statements or guidance from Braze Inc. or The Vanguard Group regarding Braze Inc.'s future performance.

Industry Context

This filing reflects a large institutional investor's passive ownership stake in Braze Inc., a company operating in the customer engagement platform industry. Such filings are common for major asset managers like Vanguard, which typically hold significant positions across numerous public companies as part of their index or actively managed funds. The 9.04% stake positions Vanguard as a major shareholder, a common occurrence for large-cap companies included in broad market indices.

Stakeholder Impact

• Shareholders: The disclosure of a large, passive institutional investor holding a significant stake can provide a sense of stability and institutional backing.
• Management: Awareness of a major passive shareholder like Vanguard may influence corporate governance considerations, though Vanguard explicitly states it does not seek to influence control.

Key Dates

Keywords

Braze Inc, Vanguard Group, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Equity Stake, Investment Adviser, BRZE