British American Tobacco: Kenneth Dart discloses 2.8% stake via 13G/A

Rhea-AI Filing Summary

British American Tobacco p.l.c. (BTI): Schedule 13G/A Amendment No. 6 filed. Portfolio Services Ltd. and Kenneth B. Dart reported beneficial ownership of 61,410,486 ordinary shares, representing 2.8% of the class. The filers report shared voting and dispositive power over 61,410,486 shares and no sole power.

The ownership is reported as of October 14, 2025, with the Date of Event noted as September 25, 2025. The certification states the securities were not acquired and are not held for the purpose of changing or influencing control, indicating a passive filing under Schedule 13G.

Insights

Equity ownership analyst

Passive 13G/A shows a 2.8% stake with shared voting power.

Portfolio Services Ltd. and Kenneth B. Dart disclose 61,410,486 BTI ordinary shares, equal to 2.8% of the class. All voting and dispositive authority is shared, with no sole power indicated.

The Schedule 13G certification affirms the position is not intended to influence control, consistent with a passive holder. This suggests limited governance implications versus an activist Schedule 13D.

The position is reported as of October 14, 2025 with an event date of September 25, 2025. Subsequent filings may provide updates on ownership percentage or changes in intent.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

British American Tobacco p.l.c.

(Name of Issuer)

Ordinary Shares

(Title of Class of Securities)

110448107

(CUSIP Number)

09/25/2025

(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. 110448107

1

Names of Reporting Persons

Portfolio Services Ltd.

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 61,410,486.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 61,410,486.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

61,410,486.00

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)

2.8 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: The number of ordinary shares beneficially owned by each reporting person is reported as at October 14, 2025.

SCHEDULE 13G

CUSIP No. 110448107

1

Names of Reporting Persons

DART KENNETH BRYAN

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

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 61,410,486.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 61,410,486.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

61,410,486.00

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)

2.8 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: The number of ordinary shares beneficially owned by each reporting person is reported as at October 14, 2025.

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, UNITED KINGDOM, WC2R 2PG.
Item 2.
(a)	Name of person filing: 1) PORTFOLIO SERVICES LTD. Portfolio Services Ltd. is a holding company that wholly owns subsidiaries that hold the securities reported herein. 2) KENNETH B. DART Mr. Dart is the beneficial owner of all of the outstanding shares of Portfolio Services Ltd.
(b)	Address or principal business office or, if none, residence: 1) 10 Market Street, #773 Camana Bay Grand Cayman, KY1-9006 CAYMAN ISLANDS 2) P.O. Box 31300 Grand Cayman, KY1-1206 CAYMAN ISLANDS
(c)	Citizenship: 1) CAYMAN ISLANDS 2) BRITISH OVERSEAS TERRITORY CITIZEN CAYMAN ISLANDS
(d)	Title of class of securities: Ordinary Shares
(e)	CUSIP No.: 110448107
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: 61,410,486
(b)	Percent of class: 2.8 %
(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: 61,410,486
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 61,410,486
Item 5.	Ownership of 5 Percent or Less of a Class.
	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 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.

Portfolio Services Ltd.

Signature:	Kenneth B. Dart
Name/Title:	Director
Date:	10/16/2025

DART KENNETH BRYAN

Signature:	Kenneth B. Dart
Name/Title:	Director
Date:	10/16/2025

FAQ

What did BTI disclose in this Schedule 13G/A Amendment No. 6?

It reports that Portfolio Services Ltd. and Kenneth B. Dart beneficially own 61,410,486 ordinary shares, or 2.8% of BTI.

Who are the reporting persons in BTI's 13G/A filing?

Portfolio Services Ltd. and Kenneth B. Dart are the reporting persons.

How much of BTI does the filer own?

They report 61,410,486 shares, representing 2.8% of the class.

What voting and dispositive powers are reported?

They report shared voting power over 61,410,486 shares and no sole power; the same for dispositive power.

What dates are referenced in the filing?

The Date of Event is September 25, 2025, and holdings are reported as of October 14, 2025.

Is this a passive or activist filing?

The certification states the securities were not acquired to change or influence control, indicating a passive Schedule 13G.

What class of securities is reported for BTI (symbol BTI)?

Ordinary Shares with CUSIP 110448107.