Vanguard reports 6.05M shares of Tradeweb (NYSE: TW) — 5.21% stake

Rhea-AI Filing Summary

Tradeweb Markets Inc — Vanguard Capital Management reports beneficial ownership of 6,053,962 shares of Common Stock, representing 5.21% of the class as reported for the period ending 03/31/2026. The filing shows sole voting power for 863,167 shares and sole dispositive power over all 6,053,962 shares.

The disclosure states these holdings include securities held by Vanguard funds and managed accounts for which Vanguard exercises dispositive authority.

Insights

Institutional Ownership Analyst

Vanguard holds a modest single-digit stake in Tradeweb.

Vanguard Capital Management reports beneficial ownership of 6,053,962 shares (5.21%), a size that places the firm above the 5% reporting threshold for Schedule 13G. The filing lists voting and dispositive power split: 863,167 shares with sole voting power and 6,053,962 with sole dispositive power.

Institutional ownership at this level signals a passive, reportable position; subsequent Form 13D or Form 13G amendments would reveal any change in intent.

Securities Compliance Specialist

Disclosure aligns with passive reporting under Schedule 13G.

The statement references SEC Release No. 34-39538 and attributes holdings to Vanguard Capital Management and affiliated business divisions, consistent with aggregation rules for managed accounts and funds. The filing notes that no other single person holds over 5% of the reported shares.

Watch for timely amendments if voting or acquisition intent changes; current filing is routine compliance disclosure.

Key Figures

Beneficial ownership: 6,053,962 shares Percent of class: 5.21% Sole voting power: 863,167 shares +2 more

5 metrics

Beneficial ownership 6,053,962 shares as reported for 03/31/2026

Percent of class 5.21% percentage of common stock

Sole voting power 863,167 shares shares with sole voting power

Form type Schedule 13G passive ownership disclosure

Filing signature date 04/30/2026 signed by Head of Global Fund Administration

Key Terms

Schedule 13G, beneficial ownership, sole dispositive power, Investment Company Act of 1940

4 terms

Schedule 13G regulatory

"Schedule 13G disclosure by Vanguard Capital Management"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficial ownership regulatory

"Amount beneficially owned: 6053962 (5.21%)"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

sole dispositive power regulatory

"Sole power to dispose: 6053962"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Investment Company Act of 1940 regulatory

"investment companies registered under the Investment Company Act of 1940"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Tradeweb Markets Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

892672106

(CUSIP Number)

03/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 892672106

1

Names of Reporting Persons

Vanguard Capital Management

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 863,167.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 6,053,962.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,053,962.00

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)

5.21 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Capital Management LLC and the following affiliates of Vanguard Capital Management LLC or business divisions of such affiliates: Vanguard Asset Management Limited, Vanguard Fiduciary Trust Company, Vanguard Global Advisers, LLC and Vanguard Investments Australia Ltd. This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Capital Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power. This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Capital Management LLC, or business divisions of such subsidiaries, whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Tradeweb Markets Inc
(b)	Address of issuer's principal executive offices: 1177 Avenue of the Americas, New York, NY, 10036
Item 2.
(a)	Name of person filing: Vanguard Capital Management
(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 Number(s): 892672106
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: 6053962
(b)	Percent of class: 5.21 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 863167
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 6053962
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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. Vanguard Capital Management, 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.

Vanguard Capital Management

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	04/30/2026

FAQ

What stake does Vanguard report in Tradeweb Markets (TW)?

Vanguard reports beneficial ownership of 6,053,962 shares, equal to 5.21% of Tradeweb's common stock as of 03/31/2026. The filing attributes voting and dispositive authority across Vanguard affiliates and managed funds.

Does Vanguard have voting control over its Tradeweb shares?

The filing shows Vanguard has sole voting power for 863,167 shares and sole dispositive power for 6,053,962 shares. Voting and dispositive powers are reported separately in the Schedule 13G disclosure.

Is this a passive Schedule 13G or an active 13D filing?

This is a Schedule 13G disclosure by Vanguard Capital Management, indicating a passive reporting status under the applicable rules rather than an active acquisition reported on Form 13D.

Which Vanguard entities are referenced in the filing?

The filing cites Vanguard Capital Management LLC and affiliated divisions including Vanguard Asset Management Limited, Vanguard Fiduciary Trust Company, Vanguard Global Advisers, LLC, and Vanguard Investments Australia Ltd. for dispositive authority over reported holdings.

Will Vanguard's reported position change other filings?

If Vanguard changes intent or increases its position materially, it must amend its filing. The current Schedule 13G is routine; any shift to active acquisition or authority would trigger a Form 13D or amendment.