Aflac's Q4 2023 Holdings: $110.9M in Trupanion, New Pagaya Warrants

Ticker: AFL · Form: 13F-HR · Filed: 2024-02-02T00:00:00.000Z

Sentiment: neutral

Topics: institutional-holdings, equity-investments, warrants, portfolio-disclosure

Related Tickers: TRUP, SHCR, PGY

TL;DR

**Aflac's Q4 2023 13F shows significant holdings in Trupanion and new Pagaya warrants, signaling their investment bets.**

AI Summary

Aflac Inc. (NYSE: AFL) filed its 13F-HR on February 2, 2024, revealing its equity holdings as of December 31, 2023. The filing shows Aflac's investment in TRUPANION, INC. (NASDAQ: TRUP) valued at $110,945,466, representing 3,636,364 shares. Additionally, Aflac held 2,208,644 shares of SHARECARE INC. (NASDAQ: SHCR) worth $2,385,336, and 1,563,895 shares of PAGAYA TECHNOLOGIES LTD. (NASDAQ: PGY) valued at $2,158,175, along with 312,798 warrants for Pagaya worth $68,753. This matters because it provides transparency into Aflac's investment strategy and the specific companies it believes will perform well, offering insights into its broader financial health and future growth prospects.

Why It Matters

This filing shows where Aflac is putting its money, indicating its confidence in specific companies and sectors, which can influence investor perception of Aflac's own strategic direction and financial stability.

Risk Assessment

Risk Level: low — 13F filings are backward-looking disclosures of institutional holdings and do not inherently present new risks, but rather provide transparency into past investment decisions.

Analyst Insight

An investor might consider researching TRUPANION, INC., SHARECARE INC., and PAGAYA TECHNOLOGIES LTD. to understand the rationale behind Aflac's investments and evaluate if these align with their own investment thesis, especially given Aflac's role as a major insurer.

Key Numbers

$110,945,466 — Total value of TRUPANION, INC. shares (Represents Aflac's largest disclosed equity holding as of December 31, 2023.)
3,636,364 — Shares of TRUPANION, INC. (The specific number of shares Aflac held in its largest position.)
2,208,644 — Shares of SHARECARE INC. (The number of shares Aflac held in Sharecare, valued at $2,385,336.)
1,563,895 — Shares of PAGAYA TECHNOLOGIES LTD. common stock (The number of common shares Aflac held in Pagaya, valued at $2,158,175.)
312,798 — Warrants for PAGAYA TECHNOLOGIES LTD. (The number of warrants Aflac held for Pagaya, valued at $68,753, indicating a potential future stake.)

Key Players & Entities

Aflac Inc. (company) — the filer of the 13F-HR
TRUPANION, INC. (company) — an equity holding of Aflac
SHARECARE INC. (company) — an equity holding of Aflac
PAGAYA TECHNOLOGIES LTD. (company) — an equity holding of Aflac, including warrants
Robin Blackmon (person) — SVP, Chief Accounting Officer of Aflac Inc.
$110,945,466 (dollar_amount) — value of Aflac's TRUPANION, INC. holding
$2,385,336 (dollar_amount) — value of Aflac's SHARECARE INC. holding
$2,158,175 (dollar_amount) — value of Aflac's PAGAYA TECHNOLOGIES LTD. common stock holding
$68,753 (dollar_amount) — value of Aflac's PAGAYA TECHNOLOGIES LTD. warrants

Forward-Looking Statements

Aflac's significant investment in Trupanion suggests a positive outlook on the pet insurance sector's growth. (TRUPANION, INC.) — medium confidence, target: 2024-12-31
The holding of Pagaya Technologies warrants indicates Aflac's belief in the long-term potential of the company's AI-driven lending platform. (PAGAYA TECHNOLOGIES LTD.) — medium confidence, target: 2025-09-01

FAQ

What was the total market value of Aflac's equity holdings as of December 31, 2023, based on this filing?

Based on the disclosed holdings, the total market value of Aflac's equity holdings in TRUPANION, INC., SHARECARE INC., and PAGAYA TECHNOLOGIES LTD. (common stock and warrants) was $110,945,466 + $2,385,336 + $2,158,175 + $68,753 = $115,557,730.

Which company represented Aflac's largest equity holding by market value as of December 31, 2023?

TRUPANION, INC. (COM) represented Aflac's largest equity holding by market value, with a reported value of $110,945,466 as of December 31, 2023.

Did Aflac hold any warrants in its portfolio, and if so, for which company and what was their value?

Yes, Aflac held warrants for PAGAYA TECHNOLOGIES LTD. (*W EXP 09/01/202), with 312,798 shares (warrants) valued at $68,753 as of December 31, 2023.

Who signed the 13F-HR filing for Aflac Inc. and on what date?

The 13F-HR filing for Aflac Inc. was signed by Robin Blackmon, SVP, Chief Accounting Officer, on February 2, 2024.

What was the total number of shares Aflac held in SHARECARE INC. as of the reporting period?

Aflac held a total of 2,208,644 shares of SHARECARE INC. (COM) as of December 31, 2023.

From the Filing

0000004977-24-000009.txt : 20240202 0000004977-24-000009.hdr.sgml : 20240202 20240202162623 ACCESSION NUMBER: 0000004977-24-000009 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240202 DATE AS OF CHANGE: 20240202 EFFECTIVENESS DATE: 20240202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AFLAC INC CENTRAL INDEX KEY: 0000004977 STANDARD INDUSTRIAL CLASSIFICATION: ACCIDENT & HEALTH INSURANCE [6321] ORGANIZATION NAME: 02 Finance IRS NUMBER: 581167100 STATE OF INCORPORATION: GA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-22437 FILM NUMBER: 24591872 BUSINESS ADDRESS: STREET 1: 1932 WYNNTON RD CITY: COLUMBUS STATE: GA ZIP: 31999 BUSINESS PHONE: 7063233431 MAIL ADDRESS: STREET 1: 1932 WYNNTON ROAD CITY: COLUMBUS STATE: GA ZIP: 31999 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN FAMILY CORP DATE OF NAME CHANGE: 19920306 13F-HR 1 primary_doc.xml X0202 13F-HR LIVE false false false 0000004977 XXXXXXXX 12-31-2023 12-31-2023 false Aflac Inc 1932 Wynnton Road Columbus GA 31999 13F HOLDINGS REPORT 028-22437 N Robin Blackmon SVP, Chief Accounting Officer 706-323-3431 /s/ Robin Blackmon Columbus GA 02-02-2024 1 4 115557730 false 1 0001882466 028-21637 000304316 801-120174 Aflac Asset Management LLC INFORMATION TABLE 2 information_table.xml INFORMATION TABLE TRUPANION, INC COM 898202106 110945466 3636364 SH SOLE 3636364 0 0 SHARECARE INC COM 81948W104 2385336 2208644 SH SOLE 2208644 0 0 PAGAYA TECHNOLOGIES LTD COM M7S64L115 2158175 1563895 SH SOLE 1563895 0 0 PAGAYA TECHNOLOGIES LTD *W EXP 09/01/202 M7S64L107 68753 312798 SH SOLE 312798 0 0