SCHEDULE: Vanguard Group Amends agilon health Stake, Drops Below 5%

The Vanguard Group has filed an amendment to its Schedule 13G for agilon health Inc., reporting a beneficial ownership of 4.41% of common stock as of December 31, 2025.

Summary

• The Vanguard Group reported beneficial ownership of 18,321,808 shares of agilon health Inc. common stock.
• This represents 4.41% of the class, falling below the 5% threshold that typically triggers a new 13G filing or requires continued reporting if they were previously above 5%.
• The filing is an Amendment No. 2 to their Schedule 13G.
• The Vanguard Group, Inc. underwent an internal realignment on January 12, 2026, and will no longer perform portfolio management services or administer proxy voting.
• Certain subsidiaries or business divisions of Vanguard are anticipated to report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on SEC Release No. 34-39538.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral development for agilon health Inc. The change in Vanguard's reported ownership is primarily due to an internal corporate realignment within Vanguard, rather than a direct change in investment thesis regarding agilon health Inc.

Positives

• Vanguard remains a significant institutional holder of agilon health Inc. through its various entities, indicating continued investment interest.

Negatives

• The Vanguard Group, as the reporting entity, has reduced its reported beneficial ownership percentage to below 5%, which could be perceived as a slight reduction in direct influence or a procedural change.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are routine disclosures by passive institutional investors. Vanguard's amendment, showing a stake below 5%, is primarily a procedural update related to its internal realignment, where subsidiaries will now report separately. This reflects a broader trend among large asset managers to disaggregate reporting for compliance and operational efficiency, rather than a change in investment thesis for agilon health Inc.

Stakeholder Impact

• Shareholders: The reduction in the reported percentage by The Vanguard Group (as a single entity) might be interpreted as a slight decrease in institutional oversight, though the underlying investment by Vanguard's broader family of funds likely remains substantial. The disaggregated reporting by subsidiaries will provide more granular detail in future filings.

Next Steps

• Vanguard's subsidiaries or business divisions are anticipated to report beneficial ownership separately (on a disaggregated basis) in reliance on SEC Release No. 34-39538.

Key Dates

Recommendation

This Schedule 13G filing primarily details a procedural change in how The Vanguard Group reports its beneficial ownership, resulting in its reported stake in agilon health Inc. falling below 5%. It does not provide new information about agilon health Inc.'s financial performance, strategic direction, or operational health. Therefore, based solely on this filing, a seasoned investor would likely maintain their current position, as there's no fundamental reason to alter an investment decision.

Keywords

agilon health, Vanguard Group, Schedule 13G, beneficial ownership, common stock, institutional investor, healthcare, investment management, SEC filing