Vanguard Amends Old Dominion Freight Line Stake, Remains Passive Investor

TL;DR

**Vanguard still owns a big chunk of Old Dominion Freight Line, but they're not trying to take over.**

AI Summary

The Vanguard Group, a major investment firm, filed an updated SC 13G/A on February 13, 2024, disclosing its ownership in Old Dominion Freight Line Inc. As of December 29, 2023, Vanguard holds a significant stake in the trucking company. This filing indicates Vanguard's continued passive investment, which is important for shareholders as it signals a stable, long-term institutional presence in the stock, potentially reducing volatility and offering a vote of confidence in the company's future.

Why It Matters

This filing shows that a major institutional investor, Vanguard, continues to hold a substantial, but passive, stake in Old Dominion Freight Line, which can reassure other investors about the stock's stability.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate risks or significant changes in company control.

Analyst Insight

Investors should note that Vanguard's continued passive ownership suggests a long-term, hands-off investment strategy, which typically implies confidence in the company's existing management and business model. This filing doesn't signal any immediate need for action but reinforces the stability of institutional backing.

Key Players & Entities

• The Vanguard Group (company) — the reporting person and a major institutional investor
• Old Dominion Freight Line Inc (company) — the subject company whose securities are being reported
• December 29, 2023 (date) — the date of the event requiring this 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

• tv01597-olddominionfreightli.htm (SC 13G/A) — 11KB
• 0001104659-24-021608.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Old Dominion Freight Line Inc

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

Item 1(b) - Address of Issuer's Principal Executive Offices: 500 Old Dominion Way Thomasville, NC 27360

(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 679580100

- 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