Vanguard (FLEX) reports 19.38M shares, 5.27% ownership (Schedule 13G)

Rhea-AI Filing Summary

Flex Ltd reports that Vanguard Portfolio Management LLC beneficially owns 19,382,770 shares of Common Stock, representing 5.27% of the class as of 03/31/2026. The filing states Vanguard has sole dispositive power over 19,382,770 shares and sole voting power over 49,235 shares. The Schedule 13G names Vanguard Portfolio Management and discloses that holdings include securities held for Vanguard funds and managed accounts; no single non‑Vanguard person holds more than 5% of the class according to the filing.

Insights

Institutional Ownership Analyst

Vanguard holds a passive, disclosed 5.27% stake in Flex Ltd via managed vehicles.

The Schedule 13G indicates passive reporting for beneficial ownership of 19,382,770 shares with dispositive authority held by Vanguard Portfolio Management LLC. The filing notes holdings include Vanguard funds and managed accounts, consistent with aggregated asset‑manager reporting.

Impact depends on Vanguard's stewardship actions; the filing documents ownership levels and voting/dispositive breakdowns without signaling active engagement or transactions.

Corporate Governance Specialist

Voting and disposition split is material to governance but shows limited direct voting control.

The filing shows sole voting power of 49,235 shares versus sole dispositive power of 19,382,770 shares, indicating most shares are managed for clients while voting authority is concentrated in a smaller block. This distinction matters for proxy voting forecasts.

Subsequent filings could disclose any change in voting direction or intentions; timing for such disclosures is not provided here.

Key Figures

Beneficial ownership: 19,382,770 shares Percent of class: 5.27% Sole voting power: 49,235 shares +2 more

5 metrics

Beneficial ownership 19,382,770 shares Beneficially owned as reported on 03/31/2026

Percent of class 5.27% Percent of common stock class as reported

Sole voting power 49,235 shares Sole power to vote or direct the vote

Sole dispositive power 19,382,770 shares Sole power to dispose or direct disposition

Filing type Schedule 13G Passive beneficial ownership report

Key Terms

beneficially owned, sole dispositive power, Schedule 13G, dispositive power

4 terms

beneficially owned regulatory

"this reflects the securities beneficially owned, or deemed to be beneficially owned"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 19382770"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Schedule 13G regulatory

"Item 1. | (a) | Name of issuer: Flex Ltd"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

dispositive power regulatory

"this includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Portfolio Management LLC exercises dispositive power"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Flex Ltd

(Name of Issuer)

Common Stock

(Title of Class of Securities)

Y2573F102

(CUSIP Number)

03/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): Y2573F102

1

Names of Reporting Persons

Vanguard Portfolio Management

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 49,235.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 19,382,770.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

19,382,770.00

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)

5.27 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Portfolio Management LLC and the following affiliates of Vanguard Portfolio Management LLC or business divisions of such affiliates: Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC. This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Portfolio Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power. This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Portfolio Management LLC, or business divisions of such subsidiaries whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Flex Ltd
(b)	Address of issuer's principal executive offices: 12515-8 Research Blvd, Suite 300, Austin, TX, 78759
Item 2.
(a)	Name of person filing: Vanguard Portfolio Management
(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 Number(s): 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: 19382770
(b)	Percent of class: 5.27 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 49235
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 19382770
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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. Vanguard Portfolio Management, 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.

Vanguard Portfolio Management

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	04/29/2026

FAQ

What stake does Vanguard Portfolio Management hold in FLEX?

Vanguard Portfolio Management beneficially owns 19,382,770 shares (5.27%). The Schedule 13G reports this ownership as of 03/31/2026 and lists dispositive and voting powers held by Vanguard and its affiliates.

How much voting power does Vanguard have at Flex Ltd (FLEX)?

Vanguard has sole voting power over 49,235 shares. The filing separates voting power (49,235 shares) from dispositive power (19,382,770 shares) in the reported beneficial ownership.

Does the filing indicate Vanguard controls the shares for clients or itself?

The filing indicates Vanguard exercises dispositive power on behalf of Vanguard funds and managed accounts. It states holdings include securities held by Vanguard funds and clients where affiliates exercise dispositive and/or voting power.

Is Vanguard the only holder above 5% in this filing?

The filing states no other single person's interest reported exceeds 5%. It also notes that shares held by other Vanguard subsidiaries disaggregated from this reporting unit are not included in this count.

What is the reporting period and signature date for this Schedule 13G?

The ownership is reported as of 03/31/2026, and the form is signed on 04/29/2026. Ashley Grim signed the filing as Head of Global Fund Administration for Vanguard Portfolio Management.