[SCHEDULE 13G/A] Robinhood Markets, Inc. SEC Filing

Rhea-AI Filing Summary

The Vanguard Group reported beneficial ownership of 94,436,459 shares of Robinhood Markets Inc. (HOOD), representing 12.20% of the class, in a Schedule 13G/A filed for the reporting period ending 09/30/2025. Vanguard discloses it has no sole voting power, 4,547,474 shares of shared voting power, 87,149,074 shares of sole dispositive power, and 7,287,385 shares of shared dispositive power. The filing states these holdings are managed in the ordinary course of business for Vanguard clients and not for the purpose of changing control.

The filing is signed by Ashley Grim, Head of Global Fund Administration, and classifies Vanguard as an investment adviser (Type: IA). The document notes that no single client of Vanguard has more than 5% interest in the reported securities.

Positive

• Significant economic stake of 94,436,459 shares (representing 12.20%) provides a stable institutional holder
• Disclosure of passive intent (filed on Schedule 13G/A) signals Vanguard is not seeking to influence control

Negative

• Limited voting influence: 0 sole voting power and only 4,547,474 shared voting votes relative to economic exposure
• Concentration risk at the fund level unclear—while no single client exceeds 5%, aggregated exposure concentrates significant economic ownership

Insights

Institutional Ownership Analyst

Vanguard holds a material passive stake in HOOD at 12.2%, mainly via dispositive control.

Vanguard's position of 94,436,459 shares gives it substantial economic exposure while reporting 0 sole voting power and 4,547,474 shared voting votes, indicating that voting authority is largely shared or delegated across funds and managed accounts.

This ownership level can affect liquidity and shareholder baselines; monitor quarterly filings and proxy records over the next 12 months for shifts in voting power or changes in the percent of class held.

Corporate Governance Expert

The filing is a routine Schedule 13G disclosure showing passive intent rather than an activist stake.

The certification explicitly states the securities "were not acquired for the purpose of changing or influencing control," aligning with Schedule 13G treatment for passive investment advisers. The note that no single Vanguard client holds over 5% clarifies client-level concentration is low.

Watch for any future conversion to a Schedule 13D or changes in shared voting power in forthcoming disclosures within 12 months, which would signal active engagement.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Robinhood Markets Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

770700102

(CUSIP Number)

09/30/2025

(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. 770700102

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 4,547,474.00
7	Sole Dispositive Power 87,149,074.00
8	Shared Dispositive Power 7,287,385.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

94,436,459.00

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)

12.20 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Robinhood Markets Inc
(b)	Address of issuer's principal executive offices: 85 Willow Road, Menlo Park, CA, 94025
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.: 770700102
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: 94436459
(b)	Percent of class: 12.2 %
(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: 4547474
	(iii) Sole power to dispose or to direct the disposition of: 87149074
	(iv) Shared power to dispose or to direct the disposition of: 7287385
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:	10/06/2025

FAQ

What stake does Vanguard report in Robinhood Markets (HOOD)?

Vanguard reports beneficial ownership of 94,436,459 shares, equal to 12.20% of HOOD's common stock.

Does Vanguard have voting control over HOOD shares?

Vanguard reports 0 shares with sole voting power and 4,547,474 shares with shared voting power, indicating limited sole voting control.

Is Vanguard filing as an activist investor for HOOD?

No; the Schedule 13G/A certification states the shares were acquired and are held in the ordinary course of business and not to change or influence control.

When does the reported ownership pertain to?

The filing covers holdings as of 09/30/2025, and the form was signed on 10/06/2025.

Are any Vanguard clients reported as holding more than 5% of HOOD?

The filing states no single client or other person is known to have an interest over 5% of the class.