[SCHEDULE 13G] Lincoln Educational Services SEC Filing

Rhea-AI Filing Summary

The Vanguard Group filed a Schedule 13G disclosing a 5.16 % passive stake in LendingTree, Inc. (TREE) as of 30 Jun 2025. The investment adviser reports 699,142 common shares beneficially owned, crossing the 5 % threshold that triggers 13G reporting.

• Sole voting power: 0 shares
• Shared voting power: 36,799 shares
• Sole dispositive power: 651,425 shares
• Shared dispositive power: 47,717 shares

The shares are held in the ordinary course for Vanguards clients; the firm states the position is not intended to influence control of LendingTree. The filing classifies Vanguard as an investment adviser (IA). Signature provided by Ashley Grim, Head of Global Fund Administration, on 29 Jul 2025.

Positive

• Institutional endorsement: Vanguards 5.16 % stake adds a reputable, long-term shareholder, potentially increasing liquidity and visibility.

Negative

• None.

Insights

Portfolio Manager

TL;DR: Vanguards 5.16 % passive stake signals institutional support but offers limited governance influence.

Vanguards crossing of the 5 % threshold adds an index-oriented, long-term holder to TREEs register. While passive, the position can enhance liquidity and broaden analyst coverage. The zero sole voting power and modest 36.8 k shared votes confirm a non-activist stance, so no near-term governance pressure is expected. Ownership concentration remains low; therefore market impact should be modest unless other large holders move. Overall, sentiment skews mildly positive owing to increased institutional backing without dilutive actions.

Corporate Governance Analyst

TL;DR: Passive 5 % stake provides reputational benefit but negligible control implications.

Vanguards filing under Rule 13d-1(b) confirms a routine, passive accumulation. The firm retains significant dispositive authority (651 k shares) yet no unilateral voting power, underscoring index-tracking motives. Management should not expect activist engagement; however, Vanguards stewardship guidelines could influence ESG and say-on-pay proposals over time. For investors, the key takeaway is the confirmation of free-float stability rather than strategic change. Impact is neutral on valuation and control dynamics.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Lincoln Educational Services Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

533535100

(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. 533535100

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 28,869.00
7	Sole Dispositive Power 1,582,161.00
8	Shared Dispositive Power 41,602.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,623,763.00

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: Lincoln Educational Services Corp
(b)	Address of issuer's principal executive offices: 200 Executive Drive, Suite 340, West Orange, NJ, 07052
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.: 533535100
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: 1623763
(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: 28869
	(iii) Sole power to dispose or to direct the disposition of: 1582161
	(iv) Shared power to dispose or to direct the disposition of: 41602
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 LendingTree (TREE) shares does Vanguard own?

699,142 common shares as reported on 30 Jun 2025.

What percentage of TREEs outstanding stock does this represent?

Vanguard reports ownership of 5.16 % of the class.

Does Vanguard have voting control over LendingTree?

It has 0 sole and 36,799 shared voting rights, indicating limited influence.

Is Vanguards stake activist or passive?

Filed under Rule 13d-1(b) as an investment adviser, the position is passive and held in the ordinary course.

Who signed the Schedule 13G for Vanguard?

Ashley Grim, Head of Global Fund Administration, signed on 29 Jul 2025.