MFS AMENDS DIAGEO STAKE FILING; MAINTAINS PASSIVE POSITION

TL;DR

**MFS just updated their Diageo stake, still a big holder but no activist moves.**

AI Summary

Massachusetts Financial Services Company (MFS) filed an amended SC 13G/A on February 9, 2024, indicating their ownership of Diageo PLC's Ordinary Shares and American Depositary Shares as of December 29, 2023. This filing, Amendment No. 5, updates their previous disclosures, showing MFS continues to hold a significant, though passive, stake in the beverage giant. For investors, this means a major institutional investor maintains its position, suggesting continued confidence in Diageo's long-term prospects, but no new aggressive moves are indicated.

Why It Matters

This filing confirms a major institutional investor, MFS, continues to hold a substantial stake in Diageo PLC, signaling their ongoing confidence in the company without any intent to influence management.

Risk Assessment

Risk Level: low — This filing is routine for large institutional investors and indicates a passive stake, posing minimal new risk to shareholders.

Analyst Insight

Investors should note that a major institutional holder, MFS, continues to hold a significant stake in Diageo, suggesting stability in institutional ownership. This filing doesn't indicate any immediate catalysts or concerns, so current or prospective investors might view this as a confirmation of the status quo.

Key Players & Entities

• Massachusetts Financial Services Company (company) — the reporting person filing the SC 13G/A
• DIAGEO PLC (company) — the subject company whose securities are being reported
• December 29, 2023 (date) — the date of the event requiring the filing
• Ordinary Shares & American Depositary Shares (company) — the class of securities reported
• 25243Q205 (company) — the CUSIP number for Diageo PLC securities

Forward-Looking Statements

• MFS will maintain a passive investment strategy in Diageo PLC. (Massachusetts Financial Services Company) — high confidence, target: Next 12 months

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 16KB
• 0000912938-24-000237.txt ( ) — 18KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 5 ) * DIAGEO PLC (Name of Issuer) Ordinary Shares & American Depositary Shares, American Depositary Shares representing four Ordinary Shares (Title of Class of Securities) 25243Q205 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 25243Q205 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Massachusetts Financial Services Company ("MFS") 04-2747644 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] Not Applicable 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 112,191,984 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 132,887,914 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 132,887,914 shares of Ordinary Shares & American Depositary Shares, American Depositary Shares representing four Ordinary Shares (consisting of the sum of Ordinary Shares & American Depositary Shares, American Depositary Shares representing four Ordinary Shares and DIAGEO PLC American Depository Receipt Depository Receipts on an as-converted basis to shares of Ordinary Shares & American Depositary Shares, American Depositary Shares representing four Ordinary Shares) 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES Not Applicable 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.9% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer DIAGEO PLC (b) Address of Issuer's Principal Executive Offices 16 Great Marlborough Street, London W1F 7HS, United Kingdom Item 2. (a) Name of Person Filing Massachusetts Financial Services Company (b) Address of Principal Business Office or, if None, Residence 111 Huntington Avenue, Boston, MA 02199 (c) Citizenship Delaware (d) Title of Class of Securities Ordinary Shares & American Depositary Shares, American Depositary Shares representing four Ordinary Shares (e) CUSIP Number 25243Q205 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 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) [X] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association 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 Rule 240.13d-1(b)(1)(ii)(J). Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: 132,887,914 shares of Ordinary Shares & American Depositary Shares, American Depositary Shares representing four Ordinary Shares (consisting of the sum of Ordinary Shares & American Depositary Shares, American Depositary Shares representing four Ordinary Shares and DIAGEO PLC American Depository Receipt Depository Receipts on an as-converted basis to shares of Ordinary Shares & American Depositary Shares, American Depositary Shares representing four Ordinary Shares) (b) Percent of Class: 5.9% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 112,191,984 (ii) shared power to

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