SCHEDULE: Vanguard Group Updates Passive Stake in Cardlytics Inc.

The Vanguard Group has filed an amendment to its Schedule 13G, disclosing a 4.60% beneficial ownership stake in Cardlytics Inc. as of June 30, 2025.

Summary

• The Vanguard Group, an investment adviser, filed Amendment No. 4 to its Schedule 13G regarding its beneficial ownership in Cardlytics Inc.
• As of June 30, 2025, The Vanguard Group beneficially owns 2,416,909 shares of Cardlytics Inc. Common Stock.
• This ownership represents 4.60% of the total class of Cardlytics Inc. Common Stock.
• The Vanguard Group holds sole dispositive power over 2,401,585 shares and shared dispositive power over 15,324 shares.
• The Vanguard Group holds no sole or shared voting power over these shares.
• The securities were acquired and are held in the ordinary course of business, without the purpose or effect of changing or influencing the control of Cardlytics Inc.

Sentiment

Score: 5

Explanation: The filing is a standard regulatory disclosure of passive beneficial ownership by an institutional investor and contains no information that would significantly alter the perception of the company's financial health or prospects.

Positives

• A major institutional investor, The Vanguard Group, maintains a significant, albeit passive, stake in Cardlytics Inc., indicating continued investment interest.
• Vanguard's ownership is explicitly stated as passive, confirming no intent to influence or change control of the issuer, which can provide stability.

Future Outlook

The filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance from Cardlytics Inc. or The Vanguard Group regarding the issuer's future performance or strategic direction.

Management Comments

• The Vanguard Group certified that the securities 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.

Industry Context

This Schedule 13G filing is a routine disclosure by a large institutional asset manager, The Vanguard Group, indicating its passive investment stake in Cardlytics Inc. Such filings are common for major investment firms that hold significant, but non-controlling, positions across numerous public companies as part of their diversified portfolio management strategies.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's stake in the company, confirming a passive investment approach.

Key Dates

Recommendation

This filing is a routine disclosure of passive beneficial ownership by a large institutional investor and does not contain new information regarding Cardlytics Inc.'s operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. It merely confirms a significant, non-controlling stake by The Vanguard Group.

Keywords

Cardlytics Inc, Vanguard Group, Schedule 13G, Beneficial Ownership, Common Stock, Investment Adviser, Passive Investment