Institutional Holder Dodge & Cox Owns 154.9M Aegon Shares (9.4%)

Rhea-AI Filing Summary

Dodge & Cox reports beneficial ownership of 154,880,578 shares of Aegon Ltd, equal to 9.4% of the class. The position is split between 66,143,488 Common Shares and 88,737,090 New York Registry Shares. Dodge & Cox discloses sole voting power over 148,783,919 shares and sole dispositive power over all 154,880,578 shares.

The filing identifies Dodge & Cox as an investment adviser holding these shares on behalf of clients, who have rights to dividends and sale proceeds. The disclosure signals a substantial institutional stake rather than an expressed effort to change control, and represents meaningful ownership that could affect liquidity and perceptions of Aegon’s shareholder base.

Insights

Financial Analyst

TL;DR: Dodge & Cox holds a material 9.4% passive stake in Aegon, indicating significant institutional exposure but no clear activist intent.

The filing shows a sizable institutional position: 154,880,578 shares (9.4%), with sole dispositive authority and near-total sole voting power. For investors, this suggests a stable, long-term holder that may support price stability and provide credibility but does not necessarily signal operational or strategic change at the company. The position’s split between Common and New York Registry Shares should be noted for share-class liquidity analysis.

Corporate Governance Expert

TL;DR: Large adviser-managed stake elevates governance relevance but the filing characterizes the holding as ordinary-course, not a control-seeking investment.

Dodge & Cox is identified as an investment adviser and certifies the securities were acquired and are held in the ordinary course of business, not to influence control, with clients entitled to dividends and sale proceeds. That limits immediate governance implications; however, a near-10% holder can still influence board dynamics indirectly. The filing does not disclose group arrangements or shared power and contains no assertion of activist intentions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 19)

Aegon Ltd.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

0076CA104

(CUSIP Number)

06/30/2025

(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)

SCHEDULE 13G

CUSIP No. 0076CA104

1

Names of Reporting Persons

Dodge & Cox

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 148,783,919.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 154,880,578.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

154,880,578.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.4 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Aegon Ltd.
(b)	Address of issuer's principal executive offices: World Trade Center Schiphol, Schiphol Boulevard 223, 1118 BH Schiphol, The Netherlands
Item 2.
(a)	Name of person filing: Dodge & Cox
(b)	Address or principal business office or, if none, residence: 555 California Street, 40th Floor, San Francisco, California 94104
(c)	Citizenship: California, USA
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: 0076CA104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 154,880,578 (66,143,488 Common Shares and 88,737,090 New York Registry Shares)
(b)	Percent of class: 9.4 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 148,783,919 (64,046,188 Common Shares and 84,737,731 New York Registry Shares)
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 154,880,578 (66,143,488 Common Shares and 88,737,090 New York Registry Shares)
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. 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.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

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.

Dodge & Cox

Signature:	/S/ Katherine M. Primas
Name/Title:	Chief Compliance Officer
Date:	08/13/2025

FAQ

How many Aegon Ltd (AEG) shares does Dodge & Cox beneficially own?

Dodge & Cox reports beneficial ownership of 154,880,578 shares of Aegon Ltd.

What percentage of Aegon does the Dodge & Cox position represent?

The filing states the position represents 9.4% of the outstanding class.

Does Dodge & Cox have voting authority over its Aegon shares?

Yes; Dodge & Cox reports sole voting power over 148,783,919 shares and sole dispositive power over all 154,880,578 shares.

Is the Dodge & Cox stake held for clients or as a control-seeking investment?

The filing identifies Dodge & Cox as an investment adviser and states the shares are held in the ordinary course of business on behalf of clients, not for the purpose of changing or influencing control.

How is the 154,880,578-share position composed?

The position comprises 66,143,488 Common Shares and 88,737,090 New York Registry Shares as disclosed in the filing.