Vanguard Group (NYSE: AGL) reports 4.41% passive stake in agilon health

Rhea-AI Filing Summary

The Vanguard Group filed an amended Schedule 13G/A reporting passive ownership of agilon health Inc. common stock. As of 12/31/2025, Vanguard reported beneficial ownership of 18,321,808 shares, representing 4.41% of the outstanding common stock.

Vanguard reported shared voting power over 2,261,393 shares and shared dispositive power over 18,321,808 shares, with no sole voting or dispositive power. Vanguard states the shares are held in the ordinary course of business and not with the purpose of influencing control of agilon health.

The filing notes that on January 12, 2026, Vanguard underwent an internal realignment and no longer performs portfolio management or proxy voting. Certain Vanguard subsidiaries or divisions pursuing the same investment strategies are expected to report beneficial ownership separately on a disaggregated basis.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

agilon health Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

00857U107

(CUSIP Number)

12/31/2025

(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. 00857U107

1

Names of Reporting Persons

The Vanguard Group

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

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,261,393.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 18,321,808.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

18,321,808.00

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)

4.41 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. As of that date, The Vanguard Group, Inc. no longer performs portfolio management services or administers proxy voting. In accordance with SEC Release No. 34-39538 (January 12, 1998), The Vanguard Group, Inc. anticipates that certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that currently have, or are deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release. These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: agilon health Inc
(b)	Address of issuer's principal executive offices: 6210 E Hwy 290, Suite 450, Austin, TX, 78723
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd., Malvern, PA 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 00857U107
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: 18321808
(b)	Percent of class: 4.41 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 2261393
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 18321808
Item 5.	Ownership of 5 Percent or Less of a Class.
	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 Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%.
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.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	01/30/2026

FAQ

What did The Vanguard Group report in its Schedule 13G/A for AGL?

The Vanguard Group reported passive ownership of agilon health Inc. common stock. As of December 31, 2025, it beneficially owned 18,321,808 shares, representing 4.41% of the company’s common stock, with all voting and dispositive power held on a shared, not sole, basis.

What percentage of agilon health (AGL) shares does Vanguard beneficially own?

Vanguard reported beneficial ownership of 4.41% of agilon health’s common stock. This corresponds to 18,321,808 shares as of December 31, 2025, placing Vanguard below the 5 percent threshold referenced in the ownership section of the Schedule 13G/A filing.

Does The Vanguard Group control voting for its agilon health (AGL) shares?

Vanguard reports only shared, not sole, voting and dispositive power. It has shared voting power over 2,261,393 shares and shared dispositive power over 18,321,808 shares, indicating decisions are made collectively for clients rather than under exclusive Vanguard control.

Is Vanguard’s stake in agilon health (AGL) considered passive or activist?

Vanguard characterizes its agilon health position as passive. It certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer, consistent with a typical institutional index or asset manager holding.

How did Vanguard’s internal realignment affect its reporting of AGL shares?

Vanguard states it underwent an internal realignment on January 12, 2026. After this date, it no longer performs portfolio management or proxy voting, and certain subsidiaries or business divisions are expected to report beneficial ownership of securities like agilon health on a disaggregated basis.

Who ultimately benefits from Vanguard’s holdings of agilon health (AGL) stock?

Vanguard explains that its clients are the economic beneficiaries. Investment company shareholders and other managed account clients have rights to dividends and sale proceeds from the reported agilon health securities, with no single other person holding more than 5 percent of the class through Vanguard.