Vanguard's crossing of the 5% threshold is consistent with index fund growth and is not a signal of active conviction. Monitor future 13G amendments for stake changes and any potential 13D conversion, though none is indicated here.
Price Chart
Executive Summary
Vanguard Capital Management LLC filed a new Schedule 13G disclosing a 5.07% passive stake in Toast, Inc., representing 26,107,633 shares of Class A Common Stock as of September 30, 2026. This is a routine passive investment disclosure by a major index fund manager, with no activist intent indicated.
Key Financial Metrics
Key Facts
- Vanguard Capital Management LLC disclosed beneficial ownership of 26,107,633 shares of Toast, Inc. Class A Common Stock
- Stake represents 5.07% of shares outstanding as of September 30, 2026
- Filing is a new Schedule 13G (not an amendment), indicating a new 5%+ threshold crossing
- Vanguard certifies passive intent under Rule 13d-1(b), with no purpose of changing or influencing control
- Vanguard is a large index fund manager; the stake likely reflects passive fund holdings
- Prior 13G filings by BlackRock (10.0%) and Capital International Investors were also passive
Financial Impact
5.07% stake valued at approximately $938M based on $18.5B market cap
Risk Factors
- No activist intent; passive filing only
- Stake may fluctuate with index rebalancing and fund flows
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G Filing (Primary) | 0002100119-26-001660 |
| Document: 0002100119-26-001660-index.html | 0002100119-26-001660 |
| Document: 0002100119-26-001660.txt | 0002100119-26-001660 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 2d ago | SC 13G | $31.87 | awaiting T+60 | awaiting T+60 | $31.68 (−0.60%) |
Oct 23, 2026 9d ago | Institutional Cluster | $32.71 | awaiting T+60 | awaiting T+60 | $31.68 (−3.15%) |
Oct 5, 2026 27d ago | Insider Cluster | $30.25 | awaiting T+60 | awaiting T+60 | $31.68 (+4.73%) |
Oct 5, 2026 27d ago | SC 13G/A | $30.04 | awaiting T+60 | awaiting T+60 | $31.68 (+5.46%) |
Oct 1, 2026 4w ago | 8-K | $29.23 | awaiting T+60 | awaiting T+60 | $31.68 (+8.38%) |
Aug 13, 2026 11w ago | Insider Cluster | $34.75 | awaiting T+60 | awaiting T+60 | $31.68 (−8.83%) |
Aug 11, 2026 11w ago | Insider Cluster | $34.06 | awaiting T+60 | awaiting T+60 | $31.68 (−6.99%) |
Aug 7, 2026 12w ago | Insider Cluster | $35.69 | awaiting T+60 | awaiting T+60 | $31.68 (−11.24%) |
Aug 5, 2026 12w ago | Insider Cluster | $34.72 $31.68 | ▼ −8.76% | ▼ −7.09% | $31.68 (−8.76%) |
Jul 9, 2026 16w ago | Insider Cluster | $29.32 $30.04 | ▲ +2.46% | ▼ −0.18% | $31.68 (+8.05%) |
US Market Status
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