SEC Filing Analysis: Leidos Holdings, Inc.

Executive Summary

• Trading Significance: Low
• Key Takeaway: The Vanguard Group has reorganized its reporting structure, resulting in the parent company reporting 0 beneficial ownership while subsidiaries will report separately.
• Market Impact: Neutral - This is an administrative change rather than a market transaction.

Company Information

Field	Value
Company	Leidos Holdings, Inc.
CIK	0001336920
Industry	Services-Computer Integrated Systems Design
Market Cap	$20.96 billion

Insider Information

Field	Value
Name	The Vanguard Group
CIK	0000102909
Relationship	Institutional Investor

Transaction Details

Field	Value
Form Type	SCHEDULE 13G/A
Event Date	03/13/2026
Transaction Code	N/A (Beneficial Ownership Report)
Shares Owned After	0
Ownership Type	N/A

Financial Impact Assessment

Transaction Materiality

Metric	Value
Transaction Value	N/A
% of Market Cap	N/A
Shares Transacted	N/A
% of Shares Outstanding	N/A
Post-Transaction Ownership	0 shares (0% of outstanding)
Materiality Assessment	Low

Impact Evaluation

• Market Cap Context: Leidos Holdings, Inc. is a Large Cap company ($20.96B). This filing represents a technical reporting change for a major institution.
• Ownership Concentration: While The Vanguard Group (parent) reports 0 shares, the economic interest likely remains with its subsidiaries/funds which will report separately.
• Transaction Significance: The filing explicitly states the change is due to an "internal realignment" in accordance with SEC Release No. 34-39538. It confirms that subsidiaries now report on a disaggregated basis.

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: The reduction in reported ownership to 0% is administrative. There is no evidence of a sell-off or liquidation of the position, merely a change in which entity reports the holdings.

Volume & Sentiment

• Expected Volume Impact: Negligible
• Sentiment Indicator: Neutral

Additional Context

Transaction Notes

• Regulatory Context: The filing cites SEC Release No. 34-39538, allowing business divisions to report beneficial ownership separately from the parent holding company.
• History: This is Amendment No. 12, indicating a long-standing reporting history prior to this realignment.