Portfolio Services Ltd. Updates British American Tobacco Stake

TL;DR

**Portfolio Services Ltd. just updated its British American Tobacco holdings.**

AI Summary

Portfolio Services Ltd., a Cayman Islands-based entity, filed an amended SC 13G/A on January 26, 2024, disclosing its ownership of British American Tobacco p.l.c. ordinary shares as of December 31, 2023. This filing updates previous disclosures, indicating a change in their beneficial ownership stake. For investors, this matters because it provides transparency into institutional holdings, which can influence stock stability and investor confidence in British American Tobacco.

Why It Matters

This filing shows an institutional investor's updated position in British American Tobacco, offering insight into their confidence in the company's future performance.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of an institutional investor's holdings and does not indicate any immediate financial risk.

Analyst Insight

Investors should note that a significant institutional holder like Portfolio Services Ltd. is maintaining its position, which could be a sign of continued confidence in British American Tobacco's long-term prospects. This information can be used as one data point among many when evaluating the stock.

Key Numbers

• 110448107 — CUSIP Number (identifies the Ordinary Shares of British American Tobacco p.l.c.)

Key Players & Entities

• British American Tobacco p.l.c. (company) — the subject company whose shares are being reported
• Portfolio Services Ltd. (company) — the entity reporting its beneficial ownership
• Mark VanDevelde (person) — person authorized to receive notices for Portfolio Services Ltd.
• Cayman Islands (company) — place of organization for Portfolio Services Ltd.
• December 31, 2023 (date) — date of the event requiring the filing
• January 26, 2024 (date) — date the SC 13G/A was filed

Forward-Looking Statements

• Portfolio Services Ltd. will continue to hold a significant stake in British American Tobacco p.l.c. for the foreseeable future. (Portfolio Services Ltd.) — medium confidence, target: December 31, 2024

FAQ

Filing Documents

• psl-bti13ga012024.htm (SC 13G/A) — 51KB
• 0001408408-24-000003.txt ( ) — 52KB

If this statement is filed pursuant

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) Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Ownership

Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. The percentage ownership noted in this Schedule 13G/A is based on 2,236,408,054 shares outstanding as of December 29, 2023, as reported in Exhibit 1 of the Issuer’s 6K filed with the U.S. Securities and Exchange Commission on January 2, 2024. As of the date of this filing Portfolio Services Ltd., wholly owned subsidiaries of Portfolio Services, Ltd., and Mr. Dart beneficially own in aggregate the following: (a) Amount beneficially owned: 234,328,476 (b) Percent of class: 10.5% (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 234,328,476 (iii) Sole power to dispose or to direct the disposition of 0 (iv) Shared power to dispose or to direct the disposition of 234,328,476 CUSIP No. 110448107 Page 6 of 7 13G/A Instruction . For computations regarding securities which represent a right to acquire an underlying security see §240.13d-3(d)(1).

Ownership of Five Percent or Less of

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following . Instruction . Dissolution of a group requires a response to this item.

Ownership of More than Five Percent

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not Applicable

Identification and Classification of

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not Applicable

Identification and Classification of

Item 8. Identification and Classification of Members of the Group. Not Applicable

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. Not Applicable

Certification

Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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. CUSIP No. 110448107 Page 7 of 7 13G/A 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. Portfolio Services Ltd. 01/26/2024 Date /s/ Kenneth B. Dart Signature Kenneth B. Dart, Director Name/Title Kenneth B. Dart 01/26/2024 Date /s/ Kenneth B. Dart Signature Kenneth B. Dart, Director Name/Title

View Full Filing

View this SC 13G/A filing on SEC EDGAR