SEC Filings

Vanguard Capital Management Reports 5.19% Stake In AMC Entertainment

The passive filing covers 46,368,350 AMC shares, and Vanguard certifies they were not bought to influence control.

Vanguard Capital Management holds 5.19% of AMC Entertainment, or 46,368,350 shares, according to a passive ownership filing (a Schedule 13G) made Friday with a September 30, 2026 event date. AMC, which runs movie theatres in the United States and Europe, is based in Leawood, Kansas.

What Vanguard reports owning

Vanguard Capital Management, the investment-adviser unit based in Malvern, Pennsylvania, has sole voting power over 6,796,761 of the shares and shared voting power over none. It is classed as an investment adviser.

The 5.19% is the cover-page percentage, which counts any warrants, options or convertibles the holder could exercise within 60 days in both its holding and the share base.

The position includes shares held by Vanguard funds and by affiliates including Vanguard Fiduciary Trust Company and Vanguard Global Advisers. Vanguard certified that the shares were bought and are held in the ordinary course of business, not to change or influence control of AMC.

A theatre chain with a battered stock

AMC reported 855 theatres and 9,640 screens in 11 countries as of December 31, 2025, including 533 theatres in the United States and 322 in Europe. Most revenue comes from box office admissions, with food and beverage sales second. About 39 million households were enrolled in its U.S. Stubs loyalty programs at that date.

AMC shares traded at $3.06 in Friday trading, down about 0.65% from the prior close of $3.08, for a market value of about $2.7 billion. A Yahoo Finance commentary puts the five-year share price decline at 98.6% and says AMC completed a $3.97 billion refinancing that pushes key maturities to 2031 and 2033.

The same piece says Citi rates the stock Sell and flags leverage as a key risk. Another Yahoo Finance commentary, by Sasha Jovanovic, cites a $554.1 million loss on $5,230.6 million of revenue.

AMC is scheduled to report earnings on Wednesday, November 4.