SCHEDULE: Vanguard Reports Zero Stake in National Vision Holdings

The Vanguard Group has filed an amended Schedule 13G, reporting 0% beneficial ownership in National Vision Holdings Inc. following an internal realignment.

Summary

• The Vanguard Group filed Amendment No. 9 to Schedule 13G for National Vision Holdings Inc. (CUSIP: 63845R107).
• The filing reports 0% beneficial ownership of Common Stock in National Vision Holdings Inc.
• This change stems from an internal realignment at The Vanguard Group, Inc. that occurred on January 12, 2026.
• In accordance with SEC Release No. 34-39538, certain subsidiaries or business divisions of Vanguard will now report beneficial ownership separately (on a disaggregated basis).
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by these disaggregated entities.
• These subsidiaries and/or business divisions continue to pursue the same investment strategies as previously pursued by The Vanguard Group, Inc.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. It primarily reflects an internal organizational change at Vanguard regarding how beneficial ownership is reported, rather than a change in investment thesis or performance for National Vision Holdings Inc.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that internal realignments by large asset managers like Vanguard are common and typically reflect organizational changes in reporting structure rather than a change in investment strategy for the underlying funds. This disaggregation of reporting aligns with SEC guidance for complex organizational structures.

Stakeholder Impact

• Shareholders of National Vision Holdings Inc. should be aware that Vanguard's direct reported beneficial ownership is now 0%, though Vanguard's underlying funds may still hold shares through disaggregated entities.

Key Dates

Recommendation

This Schedule 13G amendment from The Vanguard Group primarily reflects an internal organizational realignment regarding how beneficial ownership is reported, rather than a change in investment strategy or a divestment decision related to National Vision Holdings Inc. As such, it does not provide new information that would fundamentally alter the investment thesis for National Vision Holdings Inc., warranting a 'hold' recommendation.

Keywords

National Vision Holdings Inc, Vanguard Group, Schedule 13G, Beneficial Ownership, Institutional Ownership, SEC Filing, Investment Adviser, Common Stock, NVHI