ldd(1) should show the dependencies of the program in current directory; however when a shared object file is given, and its file name is same with another shared object under library path (such as /usr/local/lib /usr/lib /lib), ldd(1) will showing dependencies for the shared object under library path.

For example:

[root@test ~/src]# uname -a
FreeBSD test 13.0-CURRENT FreeBSD 13.0-CURRENT r349753 GENERIC  amd64
[root@test ~/src]# ls -l /usr/lib/libfetch.so.6
-r--r--r--  1 root  wheel  81496 Jul  5 15:16 /usr/lib/libfetch.so.6
[root@test ~/src]# ldd /usr/lib/libfetch.so.6
/usr/lib/libfetch.so.6:
        libssl.so.111 => /usr/lib/libssl.so.111 (0x800695000)
        libcrypto.so.111 => /lib/libcrypto.so.111 (0x800e00000)
        libc.so.7 => /lib/libc.so.7 (0x800242000)
        libthr.so.3 => /lib/libthr.so.3 (0x80072e000)
[root@test ~/src]# ls -l libfetch.so.6
ls: libfetch.so.6: No such file or directory
[root@test ~/src]# ldd libfetch.so.6
ldd: libfetch.so.6: No such file or directory
[root@test ~/src]# cat dummy.c 
#include <stdio.h>

void useless() {
        fprintf(stderr, "You just called an useless function\n");
}
[root@test ~/src]# gcc --shared -Wall -O1 -fPIC dummy.c -o libfetch.so.6
[root@test ~/src]# ls -l libfetch.so.6
-rwxr-xr-x  1 root  wheel  7384 Jul 16 10:46 libfetch.so.6
[root@test ~/src]# file libfetch.so.6
libfetch.so.6: ELF 64-bit LSB shared object, x86-64, version 1 (FreeBSD), dynamically linked, with debug_info, not stripped
[root@test ~/src]# ldd libfetch.so.6
libfetch.so.6:
        libssl.so.111 => /usr/lib/libssl.so.111 (0x800695000)
        libcrypto.so.111 => /lib/libcrypto.so.111 (0x800e00000)
        libc.so.7 => /lib/libc.so.7 (0x800242000)
        libthr.so.3 => /lib/libthr.so.3 (0x80072e000)
[root@test ~/src]# ldd ./libfetch.so.6
./libfetch.so.6:
        libc.so.7 => /lib/libc.so.7 (0x800242000)