Capital Research Discloses 192.38M Shares (8.8%) of BTI

Rhea-AI Filing Summary

Capital Research Global Investors reports beneficial ownership of 192,380,424 shares of British American Tobacco p.l.c. common stock, representing 8.8% of the 2,195,796,448 shares believed outstanding. The filing shows sole voting power over 192,348,927 shares and sole dispositive power over 192,380,424 shares, with no shared voting or dispositive power. Reported holdings include 21,509,702 Depository Receipts that correspond to common stock. The reporting entity is Capital Research Global Investors, organized in Delaware, listing an office in Los Angeles. The statement certifies the holdings are not for the purpose of changing or influencing control of the issuer.

Positive

• Material disclosed stake: Reported beneficial ownership of 192,380,424 shares (8.8%), exceeding the 5% reporting threshold.
• Clear control of votes: Sole voting power over 192,348,927 shares and sole dispositive power over 192,380,424 shares.
• Transparency on instruments: Includes 21,509,702 Depository Receipts identified as representing common stock.

Negative

• None.

Insights

Financial Analyst

TL;DR: Capital Research discloses a material 8.8% stake (192.38M shares) in British American Tobacco; a significant passive holding with sole voting/dispositive control noted.

The position reported by Capital Research Global Investors represents a material ownership block that exceeds the 5% reporting threshold and therefore is likely to attract investor attention. The filing specifies near-complete sole voting and dispositive power over the reported shares, which gives the manager clear control of how those shares are voted and disposed of on behalf of clients. The inclusion of 21.5M Depository Receipts is notable because it clarifies the form of a portion of the holding. The filing also contains an explicit certification that the shares are not held to influence control, indicating a routine, portfolio-management purpose rather than an activist intent.

Corporate Governance Expert

TL;DR: An 8.8% beneficial stake signals material ownership but the filer disclaims any intent to change control, suggesting a passive or index-style holding.

The disclosure is material from a governance perspective because an 8.8% stake in a large, widely held issuer creates potential influence over governance outcomes, even if the filer asserts no intent to seek control. The filing’s breakdown—sole voting power of 192,348,927 and sole dispositive power of 192,380,424—means Capital Research can act decisively on voting matters where it chooses to do so. Investors and the issuer will note the position for shareholder meeting dynamics and any future engagement, but the explicit certification frames this as ordinary-course investment activity rather than an activist campaign.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

British American Tobacco P.L.C.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

G1510J102

(CUSIP Number)

06/30/2025

(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)

SCHEDULE 13G

CUSIP No. G1510J102

1

Names of Reporting Persons

Capital Research Global Investors

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 192,348,927.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 192,380,424.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

192,380,424.00

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)

8.8 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: British American Tobacco P.L.C.
(b)	Address of issuer's principal executive offices: GLOBE HOUSE, 4 TEMPLE PLACE, London WC2R 2PG, United Kingdom
Item 2.
(a)	Name of person filing: Capital Research Global Investors
(b)	Address or principal business office or, if none, residence: 333 South Hope Street, 55th Fl, Los Angeles, CA 90071
(c)	Citizenship: N/A
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: G1510J102
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: 192,380,424 ** **Capital Research Global Investors ("CRGI") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CRGI's divisions of each of the investment management entities collectively provide investment management services under the name "Capital Research Global Investors." CRGI is deemed to be the beneficial owner of 192,380,424 shares or 8.8% of the 2,195,796,448 shares believed to be outstanding. Shares reported include 21,509,702 Depository Receipts, which represent 21,509,702 Common Stock.
(b)	Percent of class: 8.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 192,348,927
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 192,380,424
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 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
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.

Capital Research Global Investors

Signature:	Jae Won Chung
Name/Title:	Vice President and Senior Counsel II, Capital Research and Management Company
Date:	08/05/2025

FAQ

How many British American Tobacco (BTI) shares does Capital Research report owning?

The filing reports beneficial ownership of 192,380,424 shares of BTI common stock.

What percentage of BTI does the holding represent?

The reported position represents 8.8% of the 2,195,796,448 shares believed to be outstanding.

Does Capital Research have voting control over these shares?

Yes. The filing shows sole voting power over 192,348,927 shares and no shared voting power.

Are any Depository Receipts included in the reported holdings?

Yes. The report includes 21,509,702 Depository Receipts that represent common stock.

Does the filing state an intention to influence control of BTI?

The certification in the filing states the securities are not held for the purpose of changing or influencing control of the issuer.