SCHEDULE: Vanguard Group Reports Zero Udemy Ownership Post-Realignment

The Vanguard Group has reported zero beneficial ownership in Udemy Inc. following an internal realignment of its reporting structure.

Summary

• The Vanguard Group filed an Amendment No. 2 to Schedule 13G, indicating a change in its beneficial ownership of Udemy Inc. Common Stock.
• As of the event date March 13, 2026, The Vanguard Group reported 0.00 shares beneficially owned, representing 0% of Udemy Inc.'s Common Stock.
• This change stems from an internal realignment within The Vanguard Group, Inc. on January 12, 2026.
• Following the realignment, certain subsidiaries or business divisions of Vanguard will now report beneficial ownership separately (on a disaggregated basis) in reliance on SEC Release No. 34-39538.
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over the securities beneficially owned by these disaggregated subsidiaries and/or business divisions.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral procedural update, reflecting an internal organizational change at Vanguard rather than a change in investment thesis for Udemy.

Future Outlook

Certain subsidiaries and/or business divisions of The Vanguard Group, Inc. will now report beneficial ownership separately (on a disaggregated basis) for Udemy Inc. securities, pursuing the same investment strategies as previously.

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 by large asset managers like The Vanguard Group are common for operational efficiency or regulatory compliance, and typically do not reflect a change in investment strategy for the underlying assets, but rather a change in how beneficial ownership is reported across different entities within the group.

Corporate Governance

Stakeholder Impact

• Shareholders of Udemy Inc.: No direct impact on Udemy's operations or value, but institutional ownership reporting will shift from The Vanguard Group to its disaggregated entities.
• Investors tracking Vanguard: Will need to monitor filings from Vanguard's subsidiaries for a complete picture of their aggregate holdings in Udemy Inc.

Next Steps

• Certain subsidiaries and/or business divisions of The Vanguard Group, Inc. will report beneficial ownership separately for Udemy Inc. securities.

Key Dates

Keywords

Udemy Inc, Vanguard Group, Schedule 13G, beneficial ownership, common stock, institutional ownership, SEC filing