MDV: Vanguard files 13G/A showing 4.87% beneficial ownership

Rhea-AI Filing Summary

Modiv Industrial Inc. (MDV): Ownership update — The Vanguard Group filed a Schedule 13G/A reporting beneficial ownership of 494,730 shares of Modiv Industrial common stock, representing 4.87% of the class as of 09/30/2025.

Vanguard reports 0 shares with sole voting power and 61,651 with shared voting power. It has 429,025 shares with sole dispositive power and 65,705 with shared dispositive power. The filing states the securities are held in the ordinary course of business and not to change or influence control.

Vanguard notes that its clients—including registered investment companies and other managed accounts—may receive dividends or proceeds from sales of the reported securities, and that no single other person’s interest exceeds 5%.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Modiv Industrial Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

60784B101

(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. 60784B101

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 61,651.00
7	Sole Dispositive Power 429,025.00
8	Shared Dispositive Power 65,705.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

494,730.00

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)

4.87 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Modiv Industrial Inc
(b)	Address of issuer's principal executive offices: 200 S Virginia St, Suite 800, Reno, NV, 89501
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.: 60784B101
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: 494730
(b)	Percent of class: 4.87 %
(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: 61651
	(iii) Sole power to dispose or to direct the disposition of: 429025
	(iv) Shared power to dispose or to direct the disposition of: 65705
Item 5.	Ownership of 5 Percent or Less of a Class.
	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:	10/31/2025

FAQ

What stake did The Vanguard Group report in Modiv Industrial (MDV)?

Vanguard reported 494,730 shares, representing 4.87% of Modiv Industrial’s common stock as of 09/30/2025.

How much voting power does Vanguard have in MDV?

Vanguard reported 0 shares with sole voting power and 61,651 shares with shared voting power.

What are Vanguard’s dispositive powers over MDV shares?

Vanguard has 429,025 shares with sole dispositive power and 65,705 with shared dispositive power.

Is Vanguard filing as a passive investor in MDV?

Yes. The certification states the securities were acquired and are held in the ordinary course of business and not to influence control.

Who benefits from dividends or sale proceeds of Vanguard’s MDV holdings?

Vanguard’s clients, including registered investment companies and managed accounts, may receive dividends or sale proceeds; no single other person exceeds 5% interest.

What is the event date and signature date for this filing?

Event date: 09/30/2025. Signature date: 10/31/2025 (Ashley Grim, Head of Global Fund Administration).