Vanguard Group Reports Zero Holdings in BellRing Brands Following Internal Realignment

The Vanguard Group filed a Schedule 13G/A (Amendment No. 5) for BellRing Brands, Inc. (BRBR) reporting a zeroed-out position in the company's common stock. This filing reflects a significant change in reporting structure rather than an open-market liquidation. Effective January 12, 2026, The Vanguard Group, Inc. underwent an internal realignment. Following SEC Release No. 34-39538, certain subsidiaries and business divisions that were previously aggregated under The Vanguard Group, Inc. will now report their beneficial ownership separately on a disaggregated basis. Consequently, The Vanguard Group, Inc. is no longer deemed to have beneficial ownership over the shares held by these entities. Prior to this realignment and the current filing, the holder reported owning 11,874,956 shares, representing a significant stake. This specific amendment was also filed to correct the issuer CIK reported in a previous filing. The underlying investment strategies for the shares remain unchanged despite the shift to disaggregated reporting by the respective subsidiaries.