Lilly Endowment Amends Eli Lilly Stake, Passive Ownership Confirmed

TL;DR

**Lilly Endowment still holds Eli Lilly stock, no activist moves planned.**

AI Summary

Lilly Endowment Inc. filed an amended SC 13G/A on January 26, 2024, reporting its ownership of Eli Lilly and Company common stock as of December 31, 2023. This filing, Amendment No. 39, indicates a passive ownership stake, meaning the Endowment does not intend to influence or control Eli Lilly's management. For investors, this filing confirms a significant, long-term institutional holder maintains its position, which can be seen as a vote of confidence in Eli Lilly's stability and future prospects.

Why It Matters

This filing confirms that a major, long-standing shareholder, Lilly Endowment Inc., continues to hold a significant, passive stake in Eli Lilly and Company, signaling stability and a lack of immediate activist pressure.

Risk Assessment

Risk Level: low — The filing indicates a passive ownership stake, suggesting no immediate risk of disruptive shareholder activism or significant changes in company control.

Analyst Insight

Investors should note the continued passive ownership by Lilly Endowment Inc., which suggests long-term stability in the shareholder base and no immediate signs of activist intervention, allowing focus on Eli Lilly's operational performance.

Key Players & Entities

• Lilly Endowment Inc. (company) — the reporting person and a significant shareholder of Eli Lilly and Company
• Eli Lilly and Company (company) — the issuer whose common stock is being reported
• 03 Life Sciences (company) — an organization name associated with the subject company, Eli Lilly & Co.

FAQ

Filing Documents

• lilly240086_sc13ga.htm (SC 13G/A) — 47KB
• 0000897101-24-000026.txt ( ) — 48KB

If this statement is filed pursuant to §§ 240.13d1(b) or 240.13d2(b) or (c), check whether the person

Item 3. If this statement is filed pursuant to §§ 240.13d1(b) or 240.13d2(b) or (c), check whether the person filing is a: (a) o Broker or dealer registered under section 15 of the Act. (b) o Bank as defined in section 3(a)(6) of the Act. (c) o Insurance company as defined in section 3(a)(19) of the Act. (d) o Investment company registered under section 8 of the Investment Company Act of 1940. (e) o An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E). (f) o An employee benefit plan or endowment fund in accordance with § 240.13d1(b)(1)(ii)(F). (g) o A parent holding company or control person in accordance with § 240.13d1(b)(1)(ii)(G). (h) o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act. (i) o 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. (k) o A group, in accordance with§ 240. I 3d-l(b)(l )(ii)(K). If filing as a non-U.S. institution in accordance with§ 240.13d-l(b)(I)(ii)(J), please specify the type of institution. 3 of 5

Ownership

Item 4. Ownership (a) Amount Beneficially Owned 99,768,810 (b) Percent of Class 10.51% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote 99,768,810 (ii) Shared power to vote or to direct the vote 0 (iii) Sole power to dispose or to direct the disposition of 99,768,810 (iv) Shared power to dispose or to direct the disposition of 0

Ownership of Five Percent or Less of a Class

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 o . Not Applicable.

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five 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

Identification and Classification of Members of the Group

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 Not Applicable 4 of 5 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. Date: January 19, 2024 Lilly Endowment Inc. By: /s/ Diane M. Stenson Name: Diane M. Stenson Title: Vice President & Treasurer Footnotes:

: This information is provided as of December 31, 2023

Item 4: This information is provided as of December 31, 2023.

(a): None of such shares are deemed to be beneficially owned by

Item 4(a): None of such shares are deemed to be beneficially owned by reason of the possession of Lilly Endowment Inc. of a right to acquire such shares.

(b): The percent of class represented is based on 949,307,237 shares

Item 4(b): The percent of class represented is based on 949,307,237 shares of common stock outstanding as of October 30, 2023 as reported on the Issuer's Form 10Q for the period ended September 30, 2023. 5 of 5

View Full Filing

View this SC 13G/A filing on SEC EDGAR