[SCHEDULE 13G/A] Concentra Group Holdings Parent, Inc. SEC Filing

Rhea-AI Filing Summary

The Vanguard Group has filed Amendment No. 4 to its Schedule 13G for Datadog, Inc. (DDOG) covering holdings as of 30 June 2025. The filing discloses that Vanguard, acting as an investment adviser (Rule 13d-1(b)), now beneficially owns 32,153,371 shares of Datadog’s Class A common stock, representing 10.06 % of the outstanding class.

Voting vs. dispositive authority

• Sole voting power: 0 shares
• Shared voting power: 245,155 shares
• Sole dispositive power: 31,311,230 shares
• Shared dispositive power: 842,141 shares

Vanguard therefore controls disposition of the vast majority of its position but exerts minimal voting influence, consistent with passive index-tracking strategies.

The amendment was triggered by Vanguard’s ownership exceeding the 10 % threshold, requiring an updated 13G. Vanguard affirms the shares were acquired in the ordinary course of business and not to influence control of Datadog. Clients of Vanguard—including registered investment companies and managed accounts—ultimately benefit from dividends and sale proceeds, with no single client holding more than 5 % of the class.

Key take-aways for investors

• Institutional ownership of just over 10 % provides a supportive shareholder base and may enhance share liquidity.
• Limited voting power suggests Vanguard remains a passive holder, reducing immediate governance impact.

Positive

• Institutional support: Vanguard’s 10.06 % stake signals confidence from a top-tier asset manager, potentially enhancing market perception and liquidity.

Negative

• None.

Insights

Equity Portfolio Manager

TL;DR: Vanguard crosses 10 % ownership in DDOG, signalling passive institutional support but little governance influence.

Vanguard’s 32.15 million-share stake places it among Datadog’s largest holders. The 10.06 % stake can improve liquidity and broaden analyst coverage, potentially supporting valuation multiples. However, the absence of sole voting power (0 shares) confirms a strictly passive posture; hence, corporate strategy will remain unaffected. From a portfolio perspective, the filing is neutral-to-modestly positive: it underscores institutional confidence without introducing activist risk. Impact on near-term price action is typically limited unless the market was unaware Vanguard had already neared the 10 % mark.

Corporate Governance Analyst

TL;DR: Vanguard gains >10 % but retains passive 13G status—low governance impact.

Crossing the 10 % threshold often raises control-related questions, yet Vanguard’s certification under Rule 13d-1(b) and zero sole voting rights mitigate such concerns. Dispositive authority over ~31.3 million shares grants exit flexibility; rapid sales could pressure the stock, but Vanguard historically maintains disciplined rebalancing. No other entity has a >5 % indirect interest, reducing complexity of ownership. Overall governance implications are minimal, making the disclosure largely informational for investors.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Concentra Group Holdings Parent Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

20603L102

(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. 20603L102

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 135,974.00
7	Sole Dispositive Power 12,928,460.00
8	Shared Dispositive Power 248,903.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,177,363.00

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)

10.28 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Concentra Group Holdings Parent Inc
(b)	Address of issuer's principal executive offices: 4714 Gettysburg Road, PO Box 2034, Mechanicsburg, PA, 17055
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.: 20603L102
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: 13177363
(b)	Percent of class: 10.28 %
(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: 135974
	(iii) Sole power to dispose or to direct the disposition of: 12928460
	(iv) Shared power to dispose or to direct the disposition of: 248903
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:	07/07/2025

FAQ

How many Datadog (DDOG) shares does Vanguard now own?

Vanguard reports 32,153,371 shares beneficially owned as of 30 June 2025.

What percentage of Datadog’s outstanding shares does this represent?

The holding equals 10.06 % of Datadog’s Class A common stock.

Does Vanguard have voting control over its DDOG shares?

No. Vanguard lists 0 shares with sole voting power and only 245,155 shares with shared voting power, indicating minimal governance influence.

Is Vanguard’s position considered passive or activist?

Vanguard filed under Rule 13d-1(b) as an investment adviser, certifying a passive, ordinary-course investment intent.

Why was this Schedule 13G amendment filed?

An amendment was required because Vanguard’s ownership crossed the 10 % threshold, a key disclosure trigger under SEC rules.

Who signed the filing on behalf of Vanguard?

Ashley Grim, Head of Global Fund Administration, signed on 07 July 2025.