SCHEDULE: Vanguard Group Reports Zero Beneficial Ownership in Cardinal Health

The Vanguard Group has reported a 0% beneficial ownership stake in Cardinal Health Inc. following an internal realignment that disaggregated reporting to its subsidiaries.

Summary

• The Vanguard Group, Inc. filed an Amendment No. 13 to Schedule 13G for Cardinal Health Inc.
• The filing indicates that The Vanguard Group, Inc. now holds 0% beneficial ownership of Cardinal Health Inc. common stock.
• This change is a result of an internal realignment at The Vanguard Group, Inc. on January 12, 2026.
• Following the realignment, certain subsidiaries or business divisions of The Vanguard Group, Inc. will report their beneficial ownership separately.
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities now reported by these subsidiaries.
• The event requiring this filing occurred on March 13, 2026.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral, procedural filing. It reflects an internal organizational change at Vanguard for reporting purposes and does not indicate a change in investment strategy or a positive/negative development for Cardinal Health Inc.

Future Outlook

No forward-looking statements or guidance regarding Cardinal Health Inc. or Vanguard's future investment strategies are provided in this filing.

Management Comments

• On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment.
• Certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that formerly had, or were deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release.
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by such subsidiaries and/or business divisions.
• Securities referred to above 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.

Industry Context

StockSavvy.ai notes that such internal realignments and subsequent disaggregated reporting are common among large asset managers like Vanguard, especially as their organizational structures evolve. This ensures compliance with SEC regulations regarding beneficial ownership disclosure, particularly SEC Release No. 34-39538, which allows for such reporting changes without implying a change in overall investment strategy or control intent.

Comparison to Industry Standards

• This filing is a standard regulatory disclosure for a change in reporting structure by a large institutional investor. It does not contain performance data for comparison.

Stakeholder Impact

• Shareholders (Cardinal Health Inc.): No direct impact on the underlying value or operations of Cardinal Health Inc. The actual holdings by Vanguard's broader family of funds likely remain, just reported differently.
• Shareholders (Vanguard Funds): No direct impact on the investment strategies or holdings of Vanguard funds.

Next Steps

• Vanguard's subsidiaries or business divisions will now report their beneficial ownership of Cardinal Health Inc. securities separately.

Key Dates

Recommendation

This filing is purely administrative, reflecting an internal organizational and reporting change at The Vanguard Group. It does not indicate a change in investment thesis for Cardinal Health Inc. or a divestment of the underlying assets by Vanguard's broader investment vehicles. Therefore, it provides no new information to warrant a change in investment recommendation for Cardinal Health Inc.

Keywords

Vanguard Group, Cardinal Health Inc, Schedule 13G, Beneficial Ownership, SEC Filing, Investment Adviser, Internal Realignment, Common Stock, Institutional Ownership