Vanguard's new 5%+ passive stake adds to the institutional ownership base, but the concurrent exit by Geneva Capital Management and the series of recent filings suggest ongoing rebalancing among passive holders. Monitor future 13G amendments for any reduction or exit by Vanguard, and watch for any 13D conversion if activist intent emerges.
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Executive Summary
Vanguard Capital Management LLC filed a Schedule 13G disclosing a 5.01% passive stake in i3 Verticals, Inc. as of September 30, 2026, with beneficial ownership of 904,542 shares. This is a new disclosure from Vanguard, adding to a series of passive stake filings by other investors over the past 70 days, though Geneva Capital Management recently exited its position entirely.
Key Financial Metrics
Key Facts
- Vanguard Capital Management LLC disclosed a 5.01% passive stake in i3 Verticals, Inc. as of September 30, 2026.
- The stake consists of 904,542 shares of common stock.
- The filing is a new Schedule 13G, not an amendment.
- Vanguard certifies the shares were acquired in the ordinary course of business with no intent to influence control.
- This follows recent passive stake filings by Forager Capital Management (6.1%) and Punch & Associates, and a complete exit by Geneva Capital Management.
Financial Impact
5.01% stake valued at approximately $22.8 million based on $455M market cap.
Risk Factors
- Passive stake filing; no activist intent indicated.
- Recent exit by Geneva Capital Management signals reduced institutional interest from some holders.
- Multiple passive stake filings in a short period may indicate churn rather than conviction.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G Filing (Primary) | 0002100119-26-001609 |
| Document: 0002100119-26-001609-index.html | 0002100119-26-001609 |
| Document: 0002100119-26-001609.txt | 0002100119-26-001609 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 2d ago | SC 13G | $17.42 | awaiting T+5 | awaiting T+5 | $17.58 (+0.92%) |
Oct 20, 2026 12d ago | SC 13G/A | $17.07 $16.90 | ▲ +1.00% | ▲ +1.08% | $17.58 (−2.99%) |
Oct 9, 2026 23d ago | 8-K | $16.20 $16.92 | ▲ +4.44% | ▲ +5.94% | $17.58 (+8.52%) |
Sep 30, 2026 4w ago | SC 13G | $14.46 $15.46 | ▲ +6.95% | ▲ +5.65% | $17.58 (+21.62%) |
Jun 2, 2026 21w ago | 8-K | $19.61 $20.02 | ▲ +2.09% | ▲ +5.91% | $17.58 (−10.35%) |
May 12, 2026 24w ago | 8-K | $18.89 $19.05 | ▲ +0.85% | ▲ +2.00% | $17.58 (−6.93%) |
May 7, 2026 25w ago | 8-K | $21.14 $18.69 | ▼ −11.59% | ▼ −13.05% | $17.58 (−16.84%) |
US Market Status
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