PRIMECAP Management Co. Holds 11.66% Stake in Mattel

TL;DR

**PRIMECAP still owns a huge chunk of Mattel, 11.66% as of year-end!**

AI Summary

PRIMECAP Management Company, an investment adviser, filed an amended SC 13G/A on February 12, 2024, disclosing its ownership in Mattel, Inc. /DE/ as of December 31, 2023. PRIMECAP now beneficially owns 41,178,489 shares of Mattel's common stock, representing 11.66% of the class. This is an amendment (Amendment No. 9), indicating a change in their previously reported holdings, which matters to investors as it shows a significant institutional investor's continued, albeit potentially adjusted, confidence in the toy company.

Why It Matters

This filing shows a major institutional investor's significant stake in Mattel, signaling their continued belief in the company's long-term prospects, which can influence other investors.

Risk Assessment

Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and provides a vote of confidence.

Analyst Insight

A smart investor would note PRIMECAP's continued significant ownership (11.66%) as a sign of institutional confidence in Mattel, but also recognize this is an amendment, so further investigation into the change from previous filings would be prudent to understand if their stake increased or decreased.

Key Numbers

• 41,178,489 — Shares Beneficially Owned (Represents the total number of Mattel shares PRIMECAP Management Company holds, indicating a substantial investment.)
• 11.66% — Percent of Class (This percentage signifies PRIMECAP's significant influence as a shareholder in Mattel, making them a key institutional investor.)
• 40,527,173 — Sole Voting Power Shares (This shows the number of shares PRIMECAP can vote on its own, highlighting its direct control over a large portion of Mattel's voting stock.)
• 41,178,489 — Sole Dispositive Power Shares (This indicates the number of shares PRIMECAP can decide to sell or dispose of independently, reflecting its control over these assets.)

Key Players & Entities

• PRIMECAP Management Company (company) — the reporting person and investment adviser
• Mattel, Inc. /DE/ (company) — the subject company, a toy manufacturer
• 41,178,489 (dollar_amount) — aggregate shares beneficially owned by PRIMECAP
• 11.66% (dollar_amount) — percentage of Mattel's class of securities owned by PRIMECAP
• December 31, 2023 (date) — the date of the event requiring this filing

Forward-Looking Statements

• PRIMECAP Management Company will maintain a significant stake in Mattel, Inc. for the foreseeable future. (PRIMECAP Management Company) — high confidence, target: December 31, 2024
• Mattel's stock price will experience stability due to continued institutional investor confidence. (Mattel, Inc. /DE/) — medium confidence, target: June 30, 2024

FAQ

Filing Documents

• mata9_21224.htm (SC 13G/A) — 26KB
• 0001085146-24-001085.txt ( ) — 27KB

(a)

ITEM 1(a). NAME OF ISSUER: Mattel, Inc.

(b)

ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 333 Continental Blvd., El Segundo, CA 90245

(a)

ITEM 2(a). NAME OF PERSON FILING: PRIMECAP Management Company

(b)

ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 177 E. Colorado Blvd., 11th Floor, Pasadena, CA 91105

(c)

ITEM 2(c). CITIZENSHIP: U.S.A.

(d)

ITEM 2(d). TITLE OF CLASS OF SECURITIES: COM

(e)

ITEM 2(e). CUSIP NUMBER: 577081102 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-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. 78c); (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 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); (k) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution: ITEM 4. OWNERSHIP (a) Amount beneficially owned: 41,178,489 (b) Percent of class: 11.66% (c) Number of shares as to which the person has: (i) sole power to vote or to direct the vote: 40,527,173 (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or direct the disposition of: 41,178,489 (iv) shared power to dispose or to direct the disposition of: 0 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 secur