BTSG 13G: Vanguard Reports 9.0M Shares, 5.13% Ownership

Rhea-AI Filing Summary

The Vanguard Group filed a Schedule 13G reporting a passive position in BrightSpring Health Services Inc. (BTSG) as of 30 June 2025.

• Beneficial ownership: 9,027,797 common shares, or 5.13 % of outstanding stock.
• Voting power: 0 sole and 98,078 shared votes, underscoring a non-activist stance.
• Dispositive power: 8,860,569 sole and 167,228 shared shares.
• Filed under Rule 13d-1(b) with investment-adviser (IA) status, indicating ordinary-course asset-management ownership.
• Certification confirms no intent to change or influence BTSG control.

The filing positions Vanguard as a ≥5 % holder, broadening BTSG’s institutional base while carrying limited governance influence.

Positive

• The Vanguard Group now holds 9.03 M BTSG shares (5.13 %), adding a high-profile institutional owner and potentially boosting liquidity and investor confidence.

Negative

• None.

Insights

Portfolio Manager

TL;DR – Vanguard’s 5.13 % passive stake adds a top-tier index owner, modestly improving BTSG’s liquidity and perception without control implications.

Vanguard’s disclosure places one of the world’s largest asset managers on BTSG’s register, signalling mainstream institutional acceptance soon after the company’s market entry. Although Vanguard controls 9.0 M shares, its voting authority is minimal (≈0.06 % of OS), so governance impact is negligible. Increased index and ETF ownership can enhance daily trading volume and lower volatility, potentially supporting valuation multiples. Because the filing is passive (13G) rather than activist (13D), no strategic shift should be expected. Overall, the development is mildly constructive for liquidity and sentiment but not a catalyst for fundamental change.

Corporate Governance Expert

TL;DR – Passive 13G signals low governance pressure; BTSG board remains unchallenged.

By filing under Rule 13d-1(b) as an investment adviser, Vanguard affirms that the shares were acquired in the ordinary course and not to influence control. With zero sole voting power and just 98 k shared votes, Vanguard’s stewardship role will be exercised largely through proxy policy rather than direct engagement. Management should note that Vanguard still expects ESG and board-oversight standards, yet its ability to force changes is limited. For investors, the stake confirms mainstream institutional interest but does not introduce activist risk.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

BrightSpring Health Services Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

10950A106

(CUSIP Number)

06/30/2025

(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. 10950A106

1

Names of Reporting Persons

The Vanguard Group

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

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 98,078.00
7	Sole Dispositive Power 8,860,569.00
8	Shared Dispositive Power 167,228.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,027,797.00

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)

5.13 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BrightSpring Health Services Inc
(b)	Address of issuer's principal executive offices: 805 N Whittington Parkway, Louisville, KY, 40222
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd., Malvern, PA 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 10950A106
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: 9027797
(b)	Percent of class: 5.13 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 98078
	(iii) Sole power to dispose or to direct the disposition of: 8860569
	(iv) Shared power to dispose or to direct the disposition of: 167228
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
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.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	07/29/2025

FAQ

How many BrightSpring (BTSG) shares does Vanguard own according to the 13G filing?

9,027,797 common shares, representing 5.13 % of the class.

Is Vanguard’s stake in BTSG passive or activist?

The Schedule 13G and certification state the position is passive, acquired in the ordinary course of business.

What voting power does Vanguard have over its BTSG shares?

Vanguard reports 0 sole and 98,078 shared voting rights, indicating minimal direct influence.

When was the ownership threshold of 5 % reached?

The relevant event date triggering the filing is 30 June 2025.

Under which SEC rule was this Schedule 13G filed?

It was filed pursuant to Rule 13d-1(b) by a registered investment adviser.