Vanguard Capital Management Acquires 5.29% Stake in MGE Energy Inc

Vanguard Capital Management LLC filed a Schedule 13G on April 30, 2026, reporting a new 5.29% ownership stake in MGE Energy Inc (MGEE). As of the event date on March 31, 2026, the firm beneficially owns 1,936,460 shares of common stock. The filing indicates that Vanguard holds sole dispositive power over all 1,936,460 shares, while maintaining sole voting power over 295,434 shares. The reporting person notes that these securities were acquired in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer. This position reflects the aggregate holdings of Vanguard Capital Management LLC and several affiliates, including Vanguard Global Advisers, LLC and Vanguard Fiduciary Trust Company. The filing marks a significant increase from a previously reported 0% position, crossing the 5% regulatory disclosure threshold for the Madison, Wisconsin-based energy company. No other single person's interest in the reported securities exceeds 5%.