Vanguard Amends Landstar System Stake; Passive Ownership Update

TL;DR

**Vanguard updated its Landstar System Inc. ownership, still a big passive holder.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, indicating a change in its beneficial ownership of Landstar System Inc. common stock as of December 29, 2023. This filing updates their previous disclosure, showing their continued significant, though passive, stake in the trucking company. This matters to investors because Vanguard is a large institutional holder, and changes in their reported ownership can signal shifts in their portfolio allocation or investment strategy, potentially influencing market perception of Landstar System Inc.

Why It Matters

This filing shows that a major institutional investor, The Vanguard Group, continues to hold a significant stake in Landstar System Inc., providing transparency into large ownership positions.

Risk Assessment

Risk Level: low — This is a routine amendment by a passive institutional investor, indicating no immediate significant risk or change in company control.

Analyst Insight

Investors should note that Vanguard's continued passive ownership in Landstar System Inc. suggests a long-term, index-based investment rather than an active strategic move, so no immediate action is typically warranted based solely on this routine update.

Key Players & Entities

• The Vanguard Group (company) — the reporting person filing the SC 13G/A
• Landstar System Inc. (company) — the subject company whose securities are being reported
• December 29, 2023 (date) — the date of the event which required the filing
• February 13, 2024 (date) — the filing date of the SC 13G/A
• Pennsylvania (company) — place of organization for The Vanguard Group

FAQ

Filing Documents

• tv01316-landstarsysteminc.htm (SC 13G/A) — 11KB
• 0001104659-24-021322.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Landstar System Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 13410 Sutton Park Drive South Jacksonville, FL 32224

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 515098101

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: 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: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: 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 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. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration