[SCHEDULE 13G] XOMA Royalty Corporation 8.625% Series A Cumulative Perpetual Preferred Stock SEC Filing

Rhea-AI Filing Summary

The Vanguard Group filed a Schedule 13G reporting that it crossed the 5 % ownership threshold in XOMA Royalty Corp (XOMAP). As of 30 Jun 2025, Vanguard beneficially owned 638,813 common shares, equal to 5.33 % of the class.

The position is largely passive. Vanguard holds 0 shares with sole voting power and 7,607 shares with shared voting power. It does, however, control disposition of most of the stake, with 628,533 shares under sole dispositive power and 10,280 under shared dispositive power. The firm files as an investment adviser (IA) and certifies the shares were acquired in the ordinary course of business, not to influence control.

While the disclosure does not imply activist intentions, the presence of a large institutional holder can enhance liquidity, broaden analyst coverage, and be viewed as a vote of confidence in XOMAP’s outlook.

Positive

• Vanguard now owns 5.33 % of XOMAP, introducing a respected institutional holder and potentially boosting liquidity and investor visibility.

Negative

• None.

Insights

Portfolio Manager

TL;DR: Vanguard’s 5.33 % stake signals passive institutional support, liquidity boost, limited governance influence.

Crossing the 5 % threshold forces public disclosure, so the filing mainly provides transparency rather than a strategic shift. Vanguard’s absence of sole voting power and its IA status indicate a passive, index-oriented holding. Still, accumulation of over 600k shares can tighten the free float and attract additional institutional interest. For existing shareholders, greater ETF/index ownership usually lowers volatility and supports trading volumes but rarely drives operational change. Overall impact is modestly positive for valuation sentiment yet neutral for corporate governance.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

XOMA Royalty Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

98419J206

(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. 98419J206

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 7,607.00
7	Sole Dispositive Power 628,533.00
8	Shared Dispositive Power 10,280.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

638,813.00

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)

5.33 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: XOMA Royalty Corp
(b)	Address of issuer's principal executive offices: 2200 Powell St, Suite 310, Emeryville, CA, 94608
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.: 98419J206
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: 638813
(b)	Percent of class: 5.33 %
(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: 7607
	(iii) Sole power to dispose or to direct the disposition of: 628533
	(iv) Shared power to dispose or to direct the disposition of: 10280
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 XOMAP shares does Vanguard own?

Vanguard beneficially owns 638,813 common shares of XOMA Royalty Corp.

What percentage of XOMAP’s outstanding shares does this represent?

The stake equals 5.33 % of the outstanding common shares.

Does Vanguard have voting control over XOMAP?

Vanguard reports 0 sole voting power and 7,607 shares with shared voting power, indicating limited influence.

Is Vanguard’s position considered passive or activist?

The Schedule 13G and IA classification show the position is passive and acquired in the ordinary course of business.

Why was this filing required?

Crossing the 5 % ownership threshold triggers mandatory disclosure under SEC Rule 13d-1.