[SCHEDULE 13G/A] Ross Stores Inc SEC Filing

Rhea-AI Filing Summary

The Vanguard Group filed Amendment No. 16 to Schedule 13G for Ross Stores (ROST), reporting ownership data as of 30 June 2025.

• Shares owned: 39,182,382
• Percent of outstanding: 11.97%
• Voting power: Sole – 0; Shared – 398,551
• Dispositive power: Sole – 37,629,201; Shared – 1,553,181

The filing is made under Rule 13d-1(b) as Vanguard acts as an investment adviser holding the shares in the ordinary course for its clients. The stake exceeds the 10% threshold, giving Vanguard a material yet passive position; the firm certifies no intent to influence control of the issuer. The statement is signed by Ashley Grim, Head of Global Fund Administration, on 29 July 2025.

Positive

• Institutional validation: Vanguard’s 11.97% stake signals substantial passive investor confidence and supports share liquidity.

Negative

• Limited influence: Vanguard holds no sole voting power, so the large position offers little additional support in critical shareholder votes.

Insights

Portfolio Manager

TL;DR: Vanguard’s 12% passive stake adds liquidity but no activist angle.

Vanguard now controls nearly 12% of ROST, a sizeable block that affirms broad index-fund demand for the retailer. Because the firm holds zero sole voting power and files on a 13G basis, it remains a passive owner, limiting direct influence on corporate actions. The added liquidity and steady shareholder base can modestly support valuation multiples, yet it neither signals strategic change nor shields the company from other activists.

Corporate Governance Analyst

TL;DR: Crossing 10% triggers reporting duties; still passive, so governance impact small.

The 11.97% holding obliges Vanguard to maintain prompt Section 13 updates, but the absence of sole voting power means management cannot rely on Vanguard for guaranteed ballot support. Governance dynamics remain largely unchanged; board proposals will still hinge on broader shareholder sentiment. Overall impact is informational rather than directional.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 16)

Ross Stores Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

778296103

(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. 778296103

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 398,551.00
7	Sole Dispositive Power 37,629,201.00
8	Shared Dispositive Power 1,553,181.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

39,182,382.00

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)

11.97 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Ross Stores Inc
(b)	Address of issuer's principal executive offices: 5130 Hacienda Drive, Dublin, CA, 94568
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.: 778296103
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: 39182382
(b)	Percent of class: 11.97 %
(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: 398551
	(iii) Sole power to dispose or to direct the disposition of: 37629201
	(iv) Shared power to dispose or to direct the disposition of: 1553181
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 Ross Stores (ROST) shares does Vanguard own?

Vanguard reports beneficial ownership of 39,182,382 common shares.

What percentage of ROST outstanding shares does this represent?

The holding equals 11.97% of Ross Stores’ common stock.

Does Vanguard have voting control over its ROST stake?

It has 0 sole voting power and 398,551 shared votes, indicating minimal direct voting influence.

Why did Vanguard file a Schedule 13G rather than 13D?

Because the shares are held passively for clients and not to influence control, allowing filing under Rule 13d-1(b).

When was the report’s event date and filing date?

Event date: 06/30/2025; filing signed on 07/29/2025.