SCHEDULE: Vanguard Group Discloses 6.76% Passive Stake in ThredUp Inc.

The Vanguard Group has filed an amended Schedule 13G, reporting a 6.76% beneficial ownership stake in ThredUp Inc.'s common stock as of June 30, 2025.

Summary

• The Vanguard Group reported beneficial ownership of 6,515,562 shares of ThredUp Inc. common stock.
• This represents 6.76% of the total class of securities.
• Vanguard holds sole dispositive power over 6,370,941 shares and shared dispositive power over 144,621 shares.
• Vanguard holds shared voting power over 104,479 shares and no sole voting power.
• The filing indicates the shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of ThredUp Inc.

Sentiment

Score: 5

Explanation: A Schedule 13G filing is a routine disclosure of passive ownership and generally has a neutral sentiment. It confirms institutional interest but provides no new operational or financial insights.

Positives

• A major institutional investor, The Vanguard Group, maintains a significant stake, indicating continued confidence or passive investment in ThredUp Inc.
• The filing confirms the shares are held for investment purposes in the ordinary course of business, not for activist control.

Future Outlook

This filing does not provide forward-looking statements or guidance regarding ThredUp Inc.'s future performance or The Vanguard Group's investment strategy beyond the passive nature of the holding.

Management Comments

• 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 the control of ThredUp Inc.

Industry Context

Schedule 13G filings are routine disclosures by institutional investors holding more than 5% of a company's stock for passive investment purposes. The Vanguard Group, as a major asset manager, frequently appears in such filings across various industries, reflecting its broad market index and actively managed fund holdings. This filing indicates ThredUp Inc. remains a component of Vanguard's investment portfolios.

Comparison to Industry Standards

• This filing is a standard disclosure for institutional investors exceeding the 5% ownership threshold.
• The reported stake of 6.76% is a significant passive holding, typical for large asset managers like Vanguard, BlackRock, or State Street, which often hold substantial positions across numerous public companies as part of their diversified fund offerings.
• There are no specific comparable companies or projects mentioned in this filing to assess against.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's passive stake in the company.

Next Steps

• The Vanguard Group will file future amendments to this Schedule 13G if there are material changes to its beneficial ownership of ThredUp Inc. common stock.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of passive beneficial ownership by The Vanguard Group and does not contain new financial performance data, strategic updates, or operational insights for ThredUp Inc. As such, it does not provide a basis for a change in investment recommendation. The continued significant stake by a major institutional investor like Vanguard is a neutral indicator, suggesting the stock remains part of their diversified portfolios.

Keywords

ThredUp Inc, Vanguard Group, Schedule 13G, beneficial ownership, common stock, institutional investment, passive stake, 88556E102