SCHEDULE: Vanguard Group Divests Cboe Global Markets Stake

The Vanguard Group reports 0% beneficial ownership in Cboe Global Markets Inc. following an internal realignment.

Summary

• The Vanguard Group, Inc. filed an Amendment No. 11 to Schedule 13G for Cboe Global Markets Inc.
• As of the event date 03/13/2026, The Vanguard Group reported 0 shares beneficially owned, representing 0% of the class of Common Stock.
• This change is due to an internal realignment on January 12, 2026, where certain subsidiaries or business divisions of The Vanguard Group, Inc. will now report beneficial ownership separately.
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over these securities.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, primarily a procedural update regarding The Vanguard Group's internal reporting structure rather than a reflection of Cboe Global Markets' operational performance or a strategic investment decision.

Future Outlook

The filing indicates that certain subsidiaries of The Vanguard Group, Inc. will pursue the same investment strategies as previously, but will now report their beneficial ownership separately on a disaggregated basis.

Management Comments

• On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. In accordance with SEC Release No. 34-39538 (January 12, 1998), 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.
• These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment.
• 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.

Industry Context

StockSavvy.ai notes that this filing reflects a procedural change in how a major institutional investor, The Vanguard Group, reports its holdings, rather than a strategic divestment based on Cboe Global Markets' performance. Such internal realignments are common among large asset managers to optimize reporting structures or comply with specific regulatory interpretations, and do not necessarily imply a change in investment thesis for the underlying securities by Vanguard's broader affiliated entities.

Stakeholder Impact

• Shareholders of Cboe Global Markets Inc.: No direct impact on company operations or value, but institutional ownership reporting will shift from The Vanguard Group to its subsidiaries.
• Investors tracking institutional ownership: Will need to monitor filings from Vanguard's disaggregated subsidiaries for a complete picture of their collective holdings in Cboe Global Markets Inc.

Next Steps

• The Vanguard Group's subsidiaries or business divisions will report their beneficial ownership of Cboe Global Markets Inc. securities separately in future filings.

Key Dates

Keywords

Vanguard Group, Cboe Global Markets, Schedule 13G, Beneficial Ownership, Investment Adviser, SEC Filing, Institutional Ownership