SCHEDULE: Vanguard Group Discloses 5.6% Stake in Cardiff Oncology

The Vanguard Group has reported a 5.6% beneficial ownership stake in Cardiff Oncology Inc., holding 3,728,334 shares of common stock as of June 30, 2025.

Summary

• The Vanguard Group reported beneficial ownership of 3,728,334 shares of Cardiff Oncology Inc. common stock.
• This ownership represents 5.6% of Cardiff Oncology Inc.'s outstanding common stock.
• As of June 30, 2025, Vanguard held sole dispositive power over 3,639,514 shares and shared dispositive power over 88,820 shares.
• Vanguard held shared voting power over 63,549 shares and no sole voting power.
• The filing was made under Rule 13d-1(b), indicating that the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a standard beneficial ownership disclosure by a passive institutional investor and does not contain information that would inherently indicate positive or negative sentiment regarding the issuer's performance or prospects.

Positives

• The disclosure of a significant 5.6% stake by a major institutional investor like The Vanguard Group may signal confidence in Cardiff Oncology Inc.
• Vanguard's passive investment approach, as indicated by the Schedule 13G filing, suggests a long-term holding strategy rather than an activist intent.

Management Comments

• The securities referred to 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 and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11.

Industry Context

Large asset managers like The Vanguard Group routinely file Schedule 13G reports when their holdings in a public company exceed 5%, reflecting their passive investment strategies across a broad portfolio of companies. This filing is consistent with typical institutional investment practices in the financial industry.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake may influence investor perception and potentially stock liquidity.

Key Dates

Keywords

Cardiff Oncology Inc., Vanguard Group, Common Stock, Schedule 13G, Beneficial Ownership, Institutional Investor