[SCHEDULE 13G/A] Flex Ltd. SEC Filing

Rhea-AI Filing Summary

PRIMECAP Management Co/CA filed a Schedule 13G/A reporting beneficial ownership of 33,660,616 shares of Flex Ltd. (CUSIP Y2573F102), representing 9.01% of the outstanding common stock. The filing shows PRIMECAP has sole voting power over 31,947,033 shares and sole dispositive power over all 33,660,616 shares. The reporting person is classified as an investment adviser (IA).

The statement includes a certification that the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control of the issuer. The filing lists the issuer's principal office and the reporting person’s principal business address.

Insights

Financial Analyst

TL;DR: PRIMECAP holds a material 9.01% passive stake in Flex, disclosed with clear voting and dispositive power figures.

The disclosure quantifies a sizeable position: 33,660,616 shares equal to 9.01% of Flex’s common stock, with sole voting power over 31,947,033 shares. As a Schedule 13G/A filed by an investment adviser, this is presented as passive ownership; Item 10 certifies the holdings were not acquired to influence control. For investors, the filing documents transparency about ownership scale and control metrics without indicating activist intent.

Corporate Governance Expert

TL;DR: A formal amendment shows ongoing reporting of a significant passive stake; certification disclaims control intent.

The filing is an amendment to Schedule 13G and identifies PRIMECAP as an IA, which imposes fiduciary and reporting obligations. The statement’s explicit breakdown of sole voting and dispositive powers helps clarify governance exposure. The certification that securities were not acquired to change control is material for governance assessment, signaling no declared push for board or management change in this filing.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 17)

Flex Ltd.

(Name of Issuer)

COM

(Title of Class of Securities)

Y2573F102

(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. Y2573F102

1

Names of Reporting Persons

PRIMECAP MANAGEMENT CO/CA/

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 31,947,033.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 33,660,616.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

33,660,616.00

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)

9.01 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Flex Ltd.
(b)	Address of issuer's principal executive offices: 2515-8 Research Blvd, Suite 300, Austin 78759
Item 2.
(a)	Name of person filing: PRIMECAP MANAGEMENT CO/CA/
(b)	Address or principal business office or, if none, residence: 177 EAST COLORADO BLVD. 11TH FLOOR PASADENA, California 91105
(c)	Citizenship: PRIMECAP MANAGEMENT CO/CA/ - UNITED STATES
(d)	Title of class of securities: COM
(e)	CUSIP No.: Y2573F102
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: 33,660,616
(b)	Percent of class: 9.01 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: PRIMECAP MANAGEMENT CO/CA/ - 31,947,033
	(ii) Shared power to vote or to direct the vote: PRIMECAP MANAGEMENT CO/CA/ - 0
	(iii) Sole power to dispose or to direct the disposition of: PRIMECAP MANAGEMENT CO/CA/ - 33,660,616
	(iv) Shared power to dispose or to direct the disposition of: PRIMECAP MANAGEMENT CO/CA/ - 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.

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.

PRIMECAP MANAGEMENT CO/CA/

Signature:	Jorge A. Rodriguez
Name/Title:	Deputy Chief Compliance Officer
Date:	08/13/2025

FAQ

How many FLEX shares does PRIMECAP own?

PRIMECAP beneficially owns 33,660,616 shares of Flex Ltd.

What percentage of Flex (FLEX) does PRIMECAP hold?

The filing reports ownership equal to 9.01% of Flex Ltd.'s common stock.

What voting power does PRIMECAP have over FLEX shares?

PRIMECAP has sole voting power for 31,947,033 shares and sole dispositive power for 33,660,616 shares.

Is this a passive Schedule 13G or an activist 13D filing?

This is a Schedule 13G/A filed by an investment adviser, with a certification that the securities were not acquired to influence control.

Who filed the Schedule 13G/A for FLEX?

The filing was made by PRIMECAP MANAGEMENT CO/CA, an investment adviser.

Where is the issuer and filer located?

The filing lists the issuer's principal office at 2515-8 Research Blvd, Suite 300, Austin, TX and PRIMECAP's office at 177 East Colorado Blvd., 11th Floor, Pasadena, CA.