SCHEDULE: Vanguard Group Reports 0% EPAM Systems Ownership

The Vanguard Group reports 0% beneficial ownership in EPAM Systems Inc. following an internal realignment.

Summary

• The Vanguard Group filed an Amendment No. 9 to Schedule 13G for EPAM Systems Inc. Common Stock.
• As of March 13, 2026, The Vanguard Group reports 0% beneficial ownership of EPAM Systems Inc. common stock.
• This change is due to an internal realignment within The Vanguard Group, Inc. that occurred on January 12, 2026.
• Following the realignment, certain subsidiaries or business divisions of Vanguard will report beneficial ownership separately (on a disaggregated basis) in reliance on SEC Release No. 34-39538 (January 12, 1998).
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by these subsidiaries and/or business divisions.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, reflecting an administrative change in how The Vanguard Group reports beneficial ownership rather than a change in investment sentiment towards EPAM Systems Inc. or its operational performance.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding EPAM Systems Inc.'s future performance or The Vanguard Group's future investment strategies beyond the reporting change.

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."
• "Further in accordance with SEC Release No. 34-39538 (January 12, 1998), 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 such internal realignments and subsequent changes in beneficial ownership reporting are common for large, diversified asset managers like The Vanguard Group. This administrative change reflects a shift in reporting structure rather than a fundamental change in investment strategy or a divestment of the underlying assets by Vanguard's broader family of funds.

Stakeholder Impact

• Shareholders of EPAM Systems Inc. should note that this filing indicates a change in reporting by a major institutional investor, not necessarily a change in the total amount of EPAM shares held by Vanguard's various funds. The underlying investment strategies of the subsidiaries remain the same.

Next Steps

• Certain subsidiaries and/or business divisions of The Vanguard Group, Inc. will now report their beneficial ownership of EPAM Systems Inc. separately.

Key Dates

Keywords

Vanguard Group, EPAM Systems, Schedule 13G, Beneficial Ownership, Institutional Investor, SEC Filing, Common Stock, Internal Realignment