SCHEDULE: Vanguard Reports 0% Stake in Millrose Properties After Realignment

The Vanguard Group has amended its Schedule 13G filing for Millrose Properties Inc., reporting 0% beneficial ownership due to an internal corporate realignment.

Summary

• The Vanguard Group filed an Amendment No. 2 to its Schedule 13G for Millrose Properties Inc. (CUSIP: 601137102).
• The filing indicates that The Vanguard Group now holds 0.00 shares, representing 0% of the class of Common Stock.
• This change is attributed 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).
• The Vanguard Group, Inc. itself no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by these subsidiaries and/or business divisions.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this filing as slightly negative due to the reporting entity, The Vanguard Group, no longer showing beneficial ownership. While explained by internal restructuring, the removal of a major institutional name from the direct ownership list could lead to questions from investors.

Negatives

• The Vanguard Group, a major institutional investor, no longer reports direct beneficial ownership in Millrose Properties Inc. in this filing, which could be perceived as a reduction in direct institutional interest, even if due to internal restructuring.

Management Comments

• Ashley Grim, Head of Global Fund Administration for The Vanguard Group, certified 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.

Industry Context

StockSavvy.ai notes that internal realignments by large asset managers like The Vanguard Group are not uncommon and often reflect organizational efficiencies or changes in reporting structures rather than a direct investment thesis change regarding the underlying company. However, the disaggregation of reporting means that the parent entity, The Vanguard Group, Inc., will no longer appear as a direct beneficial owner in such filings, shifting that reporting responsibility to its subsidiaries.

Stakeholder Impact

• Shareholders: May perceive a change in institutional ownership structure, potentially leading to questions about the company's attractiveness to large funds, despite the explanation of internal realignment.

Key Dates

Keywords

Millrose Properties Inc., Vanguard Group, Schedule 13G, Beneficial Ownership, Institutional Investor, SEC Filing, Common Stock, Corporate Realignment