Schedule 13G/A: T. Rowe Price Reports 5.5% Stake in EQH

Rhea-AI Filing Summary

T. Rowe Price Associates, Inc. reports beneficial ownership of 16,789,618 shares of Equitable Holdings common stock, equal to 5.5% of the outstanding class. The filer discloses sole voting power over 15,626,720 shares and sole dispositive power over 16,761,971 shares, with no shared voting or dispositive power reported. The filing is an amendment to a Schedule 13G and identifies the reporting person as an investment adviser.

The statement affirms these shares are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

Positive

• Material institutional stake: Beneficial ownership of 16,789,618 shares, representing 5.5% of the class.
• Concentrated control: Reported sole voting power over 15,626,720 shares and sole dispositive power over 16,761,971 shares.
• Held in ordinary course: Filer certifies shares are held in the ordinary course of business and not for the purpose of changing control.

Negative

• None.

Insights

Financial Analyst

TL;DR: A material passive stake of 5.5% signals meaningful institutional exposure but is presented as non-control, a routine disclosure for an investment manager.

The filing documents a sizeable institutional position: 16,789,618 shares (5.5% of the class). Reported sole voting and dispositive powers indicate direct authority over most of those shares. The explicit certification that the position is held in the ordinary course and not to influence control limits immediate governance implications. For investors, this is notable ownership information but not a change-in-control event.

Corporate Governance Expert

TL;DR: Significant ownership with clear denial of control intent reduces short-term governance risk, though proxy influence remains possible.

The reporting party holds no shared voting power, concentrating voting authority in sole control of 15,626,720 shares, which could matter in close votes. However, the filer expressly disclaims any intent to affect control, and the Schedule 13G route signals passive investor status rather than an activist stance. This filing should be treated as a transparency disclosure rather than a governance shift.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 7)

EQUITABLE HOLDINGS INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

29452E101

(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. 29452E101

1

Names of Reporting Persons

T. Rowe Price Associates, Inc.

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

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 15,626,720.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 16,761,971.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

16,789,618.00

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)

5.5 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: EQUITABLE HOLDINGS INC
(b)	Address of issuer's principal executive offices: 1345 AVENUE OF THE AMERICAS, NEW YORK, NY, 10105
Item 2.
(a)	Name of person filing: T. Rowe Price Associates, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 29452E101
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: 16789618
(b)	Percent of class: 5.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 15626720
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 16761971
	(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.
	Not Applicable
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. T. Rowe Price Associates, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

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.

T. Rowe Price Associates, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	08/14/2025

FAQ

How many Equitable Holdings (EQH) shares does T. Rowe Price report owning?

The filing reports beneficial ownership of 16,789,618 shares of Equitable Holdings common stock.

What percent of EQH does T. Rowe Price own according to this filing?

T. Rowe Price's reported stake represents 5.5% of the outstanding class of common stock.

How much voting and dispositive power does T. Rowe Price have over EQH shares?

The filer reports sole voting power for 15,626,720 shares, shared voting power: 0, sole dispositive power for 16,761,971 shares, and shared dispositive power: 0.

Is T. Rowe Price claiming the stake is meant to influence control of EQH?

No. The statement certifies the shares are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

What type of filing is this and how is the filer classified?

This is an amendment to a Schedule 13G and the reporting person is classified as an investment adviser (IA).