Dodge & Cox Cuts Aegon Stake to 5.0% on Jan 31

TL;DR

**Dodge & Cox just trimmed its Aegon stake to 5.0%, watch for potential selling pressure.**

AI Summary

Dodge & Cox, a prominent investment management firm, filed an Amendment No. 18 to its Schedule 13G/A for Aegon Ltd. on February 9, 2024, indicating a change in their beneficial ownership of Aegon's Common Shares. As of January 31, 2024, Dodge & Cox beneficially owns 101,304,874 shares, representing 5.0% of Aegon Ltd.'s outstanding shares. This matters to investors because it shows a significant institutional investor has reduced its stake, potentially signaling a shift in their outlook on Aegon's future performance.

Why It Matters

This filing reveals that a major institutional investor, Dodge & Cox, has reduced its ownership in Aegon Ltd., which could be interpreted as a decrease in their confidence in the company's stock.

Risk Assessment

Risk Level: medium — A significant reduction in ownership by a large institutional investor like Dodge & Cox can sometimes precede further stock price declines if other investors follow suit.

Analyst Insight

A smart investor would investigate the reasons behind Dodge & Cox's reduction in their Aegon Ltd. stake and consider if this signals a broader negative outlook for the company or sector before making any investment decisions.

Key Numbers

• 101,304,874 — Shares Beneficially Owned (This is the total number of Aegon Ltd. Common Shares Dodge & Cox now owns.)
• 5.0% — Percentage of Class (This represents the current percentage of Aegon Ltd.'s outstanding shares owned by Dodge & Cox, indicating a reduction from previous filings.)
• January 31, 2024 — Event Date (This is the specific date when the ownership change occurred that triggered this filing.)
• Amendment No. 18 — Filing Amendment Number (This indicates that Dodge & Cox has filed 18 updates to its initial Schedule 13G filing for Aegon Ltd.)

Key Players & Entities

• Dodge & Cox (company) — the investment management firm filing the SC 13G/A
• Aegon Ltd. (company) — the issuer whose shares are being reported
• 101,304,874 shares (dollar_amount) — the total number of shares beneficially owned by Dodge & Cox
• 5.0% (dollar_amount) — the percentage of Aegon Ltd.'s class of securities beneficially owned by Dodge & Cox
• January 31, 2024 (date) — the date of the event which required the filing

Forward-Looking Statements

• Aegon Ltd.'s stock price may experience downward pressure in the short term. (Aegon Ltd.) — medium confidence, target: 3 months
• Other institutional investors might review their positions in Aegon Ltd. following Dodge & Cox's reduction. (Institutional Investors) — medium confidence, target: 6 months

FAQ

Filing Documents

• d757878dsc13ga.htm (SC 13G/A) — 36KB
• 0001193125-24-029607.txt ( ) — 38KB

From the Filing

SC 13G/A 1 d757878dsc13ga.htm SC 13G/A SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 18)* Aegon Ltd. (Name of Issuer) Common Shares (Title of Class of Securities) 0076CA104 (CUSIP Number) January 31, 2024 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting personsinitial filing on this form with respect to the subject class of securities, andfor any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). PAGE 1 OF 5 PAGES CUSIP NO. 0076CA104 13G PAGE 2 OF 5 PAGES 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Dodge & Cox94-1441976 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)(b) N/A 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION California - U.S.A. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER 70,176,688 Common Shares and 118,666,350 New York Registry Shares 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 73,316,788 Common Shares and 124,946,317 New York Registry Shares 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 73,316,788 Common Shares and 124,946,317 New York Registry Shares 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 10.9% 12 TYPE OF REPORTING PERSON* IA PAGE 2 OF 5 PAGES Item1(a) Name of Issuer: Aegon Ltd. Item1(b) Address of Issuers Principal Executive Offices : Aegonplein 50 P.O. Box 85 2501 CB The Hague The Netherlands Item2(a) Name of Person Filing : Dodge & Cox Item2(b) Address of the Principal Office or, if none, Residence : 555 California Street, 40th Floor San Francisco, CA 94104 Item2(c) Citizenship : California - U.S.A. Item2(d) Title of Class of Securities : Common Shares Item2(e) CUSIP Number : 0076CA104 Item3 If the Statement is being filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a : (e) Investment Advisor registered under section 203 of the Investment Advisors Act of 1940 Item4 (a) Amount Beneficially Owned : 73,316,788 Common Shares and 124,946,317 New York Registry Shares (b) Percent of Class : 10.9% PAGE 3 OF 5 PAGES (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 70,176,688 Common Shares and 118,666,350 New York Registry Shares (ii) shared power to vote or direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 73,316,788 Common Shares and 124,946,317 New York Registry Shares (iv) shared power to dispose or to direct the disposition of: 0 Item5 Not applicable. Item6 The clients of Dodge & Cox, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or power to direct the receipt of dividends from, and the proceeds from the sale of, Aegon Ltd. Dodge & Cox Stock Fund, an investment company registered under the Investment Company Act of 1940, has an interest of 99,029,539, or 5.5%, of the class of securities reported herein. Item7 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company: Not applicable. Item8 Identification and Classification of Members of the Group: Not applicable. Item9 Notice of Dissolution of a Group: Not applicable. Item10 Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purpose or effect. PAGE 4 OF 5 PAGES SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 9, 2024 DODGE & COX By: /S/ Katherine M. Primas Name: Katherine M. Primas Title: Chief Compliance Officer PAGE 5 OF 5 PAGES

View Full Filing

View this SC 13G/A filing on SEC EDGAR