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# Vanguard Portfolio Management Reports 5.02% Passive Stake In HubSpot
- URL: https://www.bullished.co/vanguard-portfolio-management-reports-5-02-passive-stake-in-hubspot-a6fbb4c5/
- Published: 2026-10-30T18:16:38.000Z
- Updated: 2026-10-30T18:16:38.000Z
- Description: The Vanguard unit holds 2,503,560 HubSpot shares but has sole voting power over only 17,772 of them.
- Author: Matteo Parrino
- Tags: SEC Filings, HUBS, Industry: Technology

Vanguard Portfolio Management holds [5.02% of HubSpot's common stock](https://www.sec.gov/Archives/edgar/data/0002100121/000210012126001082/xslSCHEDULE%5F13G%5FX01/primary%5Fdoc.xml?ref=bullished.co), or 2,503,560 shares, according to a passive ownership disclosure (Schedule 13G) filed Friday. The filing lists September 30, 2026 as the date of the event.

## Few votes, nearly all the control over sales

Vanguard holds [sole voting power](https://www.sec.gov/Archives/edgar/data/0002100121/000210012126001082/xslSCHEDULE%5F13G%5FX01/primary%5Fdoc.xml?ref=bullished.co) over just 17,772 of the shares and shared voting power over none. It has sole dispositive power, meaning the power to decide on selling, over all 2,503,560.

The stake covers shares held by Vanguard funds, or portions of them, and by clients of affiliates including Vanguard Fiduciary Trust Company and Vanguard Global Advisers. Vanguard certified the shares were bought and are held in the ordinary course of business, not to change or influence control of [HubSpot](https://www.bullished.co/tag/hubs/).

## HubSpot's shaky week

HubSpot, which sells a software platform that helps marketing, sales and customer service teams find, win and keep customers, traded at $233.76 in Friday trading, down 2.43% from the prior close of $239.57\. Its market value was $11.9 billion at that point.

UBS [downgraded the stock to Neutral from Buy](https://seekingalpha.com/news/4657875-hubspot-in-wall-streets-crosshairs-as-ubs-downgrades-citi-ups-price-target?ref=bullished.co) on October 27, saying it had risen more than 30% over the past month and that risk and reward looked balanced, while raising its price target to $310 from $290\. UBS pointed to mixed small-business demand and possible friction from HubSpot's move to a new pricing model.

HubSpot is expected to report quarterly results on [November 4](https://finance.yahoo.com/markets/stocks/articles/hubspot-hubs-earnings-expected-grow-130008679.html?.tsrc=rss&ref=bullished.co).

### Sources

- [SCHEDULE 13G — Vanguard Portfolio Management re: HubSpot Inc (HUBS)](https://www.sec.gov/Archives/edgar/data/0002100121/000210012126001082/xslSCHEDULE%5F13G%5FX01/primary%5Fdoc.xml?ref=bullished.co) — SEC EDGAR
- [HubSpot in Wall Street's crosshairs as UBS downgrades, Citi ups price target (HUBS:NYSE) | Seeking Alpha](https://seekingalpha.com/news/4657875-hubspot-in-wall-streets-crosshairs-as-ubs-downgrades-citi-ups-price-target?ref=bullished.co) — seekingalpha.com
- [HubSpot (HUBS) Earnings Expected to Grow: Should You Buy?](https://finance.yahoo.com/markets/stocks/articles/hubspot-hubs-earnings-expected-grow-130008679.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance
- [Broadcom upgraded, HubSpot downgraded: Wall Street's top analyst calls](https://finance.yahoo.com/markets/stocks/articles/broadcom-upgraded-ultragenyx-downgraded-wall-133157671.html?ref=bullished.co) — Yahoo Finance
- [瑞銀下調HubSpot評級，渠道調查顯示前景更為崎嶇](https://hk.finance.yahoo.com/news/%E7%91%9E%E9%8A%80%E4%B8%8B%E8%AA%BFhubspot%E8%A9%95%E7%B4%9A-%E6%B8%A0%E9%81%93%E8%AA%BF%E6%9F%A5%E9%A1%AF%E7%A4%BA%E5%89%8D%E6%99%AF%E6%9B%B4%E7%82%BA%E5%B4%8E%E5%B6%87-153605603.html?ref=bullished.co) — Yahoo Finance
- [The AI trade is back, and it's sorting software stocks into winners and losers](https://finance.yahoo.com/markets/article/the-ai-trade-is-back-and-its-sorting-software-stocks-into-winners-and-losers-150346310.html?ref=bullished.co) — Yahoo Finance

### More on HubSpot

- [JPMorgan Discloses 7.3% Passive Stake In HubSpot, Covering 3.68 Million Shares](https://www.bullished.co/jpmorgan-discloses-7-3-passive-stake-in-hubspot-covering-3-68-million-shares-2293bc0e/)
- [HubSpot's Chief Legal Officer Erika Fisher Resigns Effective November 6, 8-K Shows](https://www.bullished.co/hubspots-chief-legal-officer-erika-fisher-resigns-effective-november-6-8-k-shows-53187676/)
- [HubSpot Plans To Cut About 7% Of Staff, Says AI Efficiency Is Not The Reason](https://www.bullished.co/hubspot-plans-to-cut-about-7-of-staff-says-ai-efficiency-is-not-the-reason-e74fd3ac/)

[All HubSpot (HUBS) coverage →](https://www.bullished.co/tag/hubs/)