SCHEDULE 13G/A: BlackRock Amends Stake in Expeditors International, Reports 8.8% Beneficial Ownership

BlackRock, Inc. has filed an Amendment No. 15 to its Schedule 13G, disclosing a beneficial ownership of 8.8% in Expeditors International of Washington Inc. as of March 31, 2025.

Summary

• BlackRock, Inc. filed an Amendment No. 15 to its Schedule 13G regarding its beneficial ownership in Expeditors International of Washington Inc.
• As of March 31, 2025, BlackRock, Inc. beneficially owns an aggregate of 12,129,870 shares of Common Stock, representing 8.8% of the class.
• BlackRock, Inc. holds sole voting power over 11,035,690 shares and sole dispositive power over 12,129,870 shares.
• The filing confirms that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
• Various BlackRock subsidiaries and affiliates contribute to this aggregate ownership, including BlackRock Life Limited, BlackRock Advisors, LLC, BlackRock France SAS, and others, as detailed in Exhibit 99.

Sentiment

Score: 6

Explanation: The document is a neutral, factual disclosure of beneficial ownership. The continued significant stake by a major institutional investor like BlackRock can be seen as a positive signal of confidence, but the document itself contains no new operational or financial news about the issuer.

Positives

• BlackRock, a major institutional investor, maintains a significant stake (8.8%) in Expeditors International, indicating continued confidence in the company.
• The filing confirms the investment is for ordinary course of business, not for control, suggesting a passive, long-term investment strategy.

Future Outlook

The document is a beneficial ownership filing and does not contain forward-looking statements or guidance regarding Expeditors International of Washington Inc.'s future performance or BlackRock's future investment intentions beyond the scope of its passive investment strategy.

Management Comments

• "In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the 'Reporting Business Units') of BlackRock, Inc. and its subsidiaries and affiliates."
• "By signing below I certify that, to the best of my knowledge and belief, the 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 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

This filing reflects a routine disclosure by a major asset manager, BlackRock, regarding its passive investment in Expeditors International, a global logistics and freight forwarding company. Such filings are common and indicate ongoing institutional investment in established companies within the transportation and logistics sector, which is sensitive to global trade volumes and economic activity.

Comparison to Industry Standards

• As a Schedule 13G filing, this document primarily serves as a disclosure of beneficial ownership by a large institutional investor (BlackRock) and does not provide performance metrics for Expeditors International of Washington Inc. that would allow for direct comparison to industry standards or specific comparable companies like DSV, Kuehne + Nagel, or C.H. Robinson.
• The 8.8% stake held by BlackRock is a significant passive investment, typical for large asset managers holding diversified portfolios across various industries.

Stakeholder Impact

• Shareholders: Provides transparency on a significant institutional holder's stake, potentially reinforcing confidence due to BlackRock's continued investment.
• Management: Awareness of a large, passive institutional shareholder.

Next Steps

• BlackRock, Inc. will continue to file Schedule 13G amendments if its beneficial ownership percentage changes significantly (e.g., crosses 10% or drops below 5%) or annually.

Key Dates

Keywords

BlackRock, Expeditors International of Washington Inc., Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Logistics, Freight Forwarding, Supply Chain