SCHEDULE: Vanguard Group Reports 0% Stake in Varex Imaging

The Vanguard Group reports 0% beneficial ownership in Varex Imaging Corp following an internal realignment, disaggregating its reporting.

Summary

• The Vanguard Group, Inc. filed an Amendment No. 11 to Schedule 13G for Varex Imaging Corp.
• The filing indicates that The Vanguard Group now holds 0% beneficial ownership of Varex Imaging Corp's Common Stock.
• This change is due to an internal realignment within The Vanguard Group, Inc. that occurred on January 12, 2026.
• Following the realignment, certain subsidiaries and business divisions will report their beneficial ownership separately, disaggregated from The Vanguard Group, Inc.
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities held by these disaggregated entities.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a neutral to slightly negative development for Varex Imaging Corp, as the parent Vanguard Group no longer directly reports a stake, though it's primarily a reporting change rather than a full divestment by all Vanguard-managed funds.

Positives

• The filing clarifies Vanguard's reporting structure, indicating a transparent approach to beneficial ownership changes in compliance with SEC guidance.

Negatives

• The Vanguard Group, as the parent entity, no longer reports any beneficial ownership in Varex Imaging Corp, which could be interpreted as a lack of direct institutional interest from the parent entity.

Risks

• The disaggregation of reporting means that The Vanguard Group, as the parent entity, no longer directly reports beneficial ownership of Varex Imaging shares held by its subsidiaries, potentially making it harder to track the aggregate Vanguard family's holdings from this specific filing.

Future Outlook

The filing does not contain forward-looking statements or guidance regarding Varex Imaging Corp's future performance or The Vanguard Group's future investment intentions beyond the reporting change.

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."
• "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."
• "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

StockSavvy.ai notes that large institutional investors like The Vanguard Group frequently adjust their internal reporting structures, which can lead to changes in how beneficial ownership is reported at the parent level, even if underlying holdings by affiliated entities remain. This disaggregation aligns with SEC guidance for complex organizational structures.

Comparison to Industry Standards

• This filing reflects a standard practice for large asset managers like BlackRock or State Street, where internal reorganizations can lead to changes in how beneficial ownership is aggregated and reported by the parent entity.
• The 0% reported ownership by the parent Vanguard Group is a direct consequence of their internal realignment, not necessarily a complete divestment by all Vanguard-affiliated funds.

Stakeholder Impact

• Shareholders: May perceive a reduction in institutional ownership from The Vanguard Group, potentially impacting investor sentiment, although the underlying holdings by Vanguard's subsidiaries may still exist.
• Regulatory Authorities: The filing provides updated beneficial ownership information in compliance with SEC regulations following an internal realignment.

Next Steps

• Vanguard's subsidiaries and business divisions will now report their beneficial ownership of Varex Imaging Corp separately.

Key Dates

Recommendation

While The Vanguard Group's parent entity now reports 0% beneficial ownership due to an internal realignment, this does not necessarily indicate a complete divestment by all Vanguard-managed funds. The change is primarily a reporting adjustment. Investors should monitor subsequent filings from Vanguard's disaggregated entities for a clearer picture of their collective holdings in Varex Imaging Corp. Without further information on the underlying holdings or Varex's fundamentals, a "hold" recommendation is appropriate as the impact is primarily administrative rather than a direct investment decision against the company.

Keywords

Varex Imaging Corp, Vanguard Group, Schedule 13G, Beneficial Ownership, Institutional Investor, SEC Filing, Common Stock, Disaggregation, Investment Management