[144] DELEK LOGISTICS PARTNERS, LP SEC Filing

Rhea-AI Filing Summary

Amendment No. 2 to Schedule 13G shows that The Vanguard Group has a significant passive stake in Kenvue Inc. (KVUE) as of 30 June 2025.

• Beneficial ownership: 233,245,730 common shares, equal to 12.14 % of outstanding stock.
• Voting power: Sole 0; Shared 2,284,446 shares.
• Dispositive power: Sole 223,757,686; Shared 9,488,044 shares.
• Vanguard files under Rule 13d-1(b) as an investment adviser, indicating the holding is for investment purposes only.
• Certification states the shares were acquired in the ordinary course and not to influence control of Kenvue.

The filing confirms strong institutional ownership from one of the world’s largest asset managers, which can enhance share-base stability and trading liquidity but does not signal any operational or strategic change for the company.

Positive

• 12.14 % stake by Vanguard signals strong institutional support, which can enhance liquidity and investor confidence.

Negative

• None.

Insights

Securities Analyst

TL;DR: Vanguard owns 12.1 % of KVUE, passive stake; boosts liquidity, no control intent.

Vanguard’s 233 M-share position positions it as Kenvue’s largest outside holder, reinforcing institutional confidence post-spin-off. Passive 13G status and zero sole voting power suggest index-driven accumulation rather than activism, so governance impact is minimal. The stake’s size should improve float stability and attract additional passive flows tied to benchmark inclusion. No dilution or insider selling is involved, therefore earnings per share are unaffected. Overall, the disclosure is informational and modestly supportive for valuation multiples through improved liquidity.

Corporate Governance Expert

TL;DR: High passive holding strengthens institutional base but leaves control unchanged.

Because Vanguard reports under 13d-1(b) and certifies no intent to influence control, board composition and strategic direction remain in management’s hands. With sole voting power at zero, proxy influence is exercised through shared voting across Vanguard-managed funds, typically following internal stewardship guidelines. The large dispositive power underscores Vanguard’s ability to exit positions quickly, a potential overhang if sentiment changes, yet its long-term index orientation reduces that risk. The filing does not trigger any poison-pill thresholds or regulatory concerns.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	500	22500.00	53440788	07/29/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/10/2022	Restricted Stock Vesting	Issuer			500	09/10/2022	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many KVUE shares does Vanguard own?

Vanguard reports 233,245,730 common shares.

What percentage of Kenvue’s outstanding stock is held by Vanguard?

The filing lists 12.14 % of the class.

Does Vanguard intend to control Kenvue?

No. The Schedule 13G certification states the shares were acquired in the ordinary course, not to influence control.

What type of filer is Vanguard in this report?

Vanguard files as an investment adviser (Rule 13d-1(b)(1)(ii)(E)).

What are Vanguard’s voting and dispositive powers over KVUE shares?

Sole voting: 0; Shared voting: 2.28 M; Sole dispositive: 223.76 M; Shared dispositive: 9.49 M.

When was the ownership position effective?

The ownership details are effective as of 30 June 2025.