Ashland Inc. received an updated ownership report from AQR Capital Management Holdings, LLC and its subsidiary AQR Capital Management, LLC. As of December 31, 2025, the AQR entities reported beneficial ownership of 2,266,824 shares of Ashland common stock, representing 4.95% of the outstanding class.
The filing shows AQR has shared voting and dispositive power over all 2,266,824 shares and no sole voting or dispositive power. The reporting persons certify the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Ashland.
Positive
None.
Negative
None.
FAQ
What ownership stake does AQR report in Ashland Inc. (ASH)?
AQR reports beneficial ownership of 2,266,824 Ashland shares, representing 4.95% of the common stock. This stake is held with shared voting and dispositive power by AQR Capital Management Holdings, LLC and its subsidiary AQR Capital Management, LLC.
What type of filing did AQR submit for Ashland Inc. (ASH)?
AQR submitted an Amendment No. 1 to Schedule 13G for Ashland Inc. This report updates AQR’s passive ownership position in Ashland’s common stock, reflecting holdings as of December 31, 2025, and associated voting and dispositive powers.
Does AQR intend to influence control of Ashland Inc. (ASH)?
AQR states the Ashland shares were acquired and are held in the ordinary course of business, not to change or influence control. The filing also notes the holdings are not in connection with any transaction intended to affect control of the issuer.
Who are the reporting persons in the Ashland Inc. (ASH) Schedule 13G/A?
The reporting persons are AQR Capital Management Holdings, LLC and its wholly owned subsidiary AQR Capital Management, LLC. Both are United States entities, and they jointly file to report their shared beneficial ownership of Ashland common stock.
What voting and dispositive powers does AQR have over Ashland Inc. (ASH) shares?
AQR reports 0 shares with sole voting or dispositive power and 2,266,824 shares with shared voting and shared dispositive power. This means key decisions over these shares are exercised jointly, rather than by either reporting person alone.
Why does the Ashland Inc. (ASH) filing mention ownership of 5 percent or less?
The filing notes ownership of 5 percent or less of Ashland’s common stock. AQR’s reported 4.95% stake falls under the 5% threshold, which is a key level for ongoing Schedule 13G reporting under U.S. securities regulations.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
ASHLAND INC.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
044186104
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
044186104
1
Names of Reporting Persons
AQR Capital Management, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,266,824.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,266,824.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,266,824.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.95 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP No.
044186104
1
Names of Reporting Persons
AQR Capital Management Holdings, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,266,824.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,266,824.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,266,824.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.95 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
ASHLAND INC.
(b)
Address of issuer's principal executive offices:
8145 BLAZER DRIVE, WILMINGTON, DELAWARE
19808
Item 2.
(a)
Name of person filing:
AQR Capital Management, LLC
AQR Capital Management Holdings, LLC
(b)
Address or principal business office or, if none, residence:
ONE GREENWICH PLAZA
SUITE 130
Greenwich, Connecticut
06830
(c)
Citizenship:
AQR Capital Management, LLC - UNITED STATES
AQR Capital Management Holdings, LLC - UNITED STATES
(d)
Title of class of securities:
Common Stock, par value $0.01 per share
(e)
CUSIP No.:
044186104
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
2,266,824
(b)
Percent of class:
4.95 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
AQR Capital Management, LLC - 0
AQR Capital Management Holdings, LLC - 0
(ii) Shared power to vote or to direct the vote:
AQR Capital Management, LLC - 2,266,824
AQR Capital Management Holdings, LLC - 2,266,824
(iii) Sole power to dispose or to direct the disposition of:
AQR Capital Management, LLC - 0
AQR Capital Management Holdings, LLC - 0
(iv) Shared power to dispose or to direct the disposition of:
AQR Capital Management, LLC - 2,266,824
AQR Capital Management Holdings, LLC - 2,266,824
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See Item 2(a) above.
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
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.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
AQR Capital Management, LLC
Signature:
Henry Parkin
Name/Title:
Authorized Signatory
Date:
02/12/2026
AQR Capital Management Holdings, LLC
Signature:
Henry Parkin
Name/Title:
Authorized Signatory
Date:
02/12/2026
Exhibit Information
AQR Capital Management Holdings, LLC and AQR Capital Management, LLC hereby agree that this Schedule 13G is filed on behalf of each of the parties. AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC.
