Davis Advisers Discloses 23.8M MGM Shares in Schedule 13G/A

Rhea-AI Filing Summary

Schedule 13G/A (Amendment No. 3) – MGM Resorts International

Registered investment adviser Davis Selected Advisers reports beneficial ownership of 23,821,109 MGM common shares, representing 9.5 % of the outstanding class as of the 30 Jun 2025 measurement date. The filer holds sole voting power over 23,134,026 shares and sole dispositive power over the full 23,821,109 shares; no shared voting or dispositive power is disclosed. The firm certifies the position is held in the ordinary course of business and not for the purpose of influencing control. The filing is made under Rule 13d-1(b) as an institutional investment adviser (IA) and is signed by Vice President & Chief Compliance Officer Michaela McLoughry on 07 Aug 2025. Holding above the 5 % threshold confirms Davis Selected Advisers as a significant, but apparently passive, institutional shareholder in MGM.

Positive

• Institutional confidence: Davis Selected Advisers discloses a substantial 9.5 % stake (23.8 m shares) in MGM, underscoring continued long-term investment interest.

Negative

• None.

Insights

Securities Analyst

TL;DR: Davis Adviser’s 9.5 % passive stake signals solid institutional support but no change-of-control intent.

The amendment shows Davis Selected Advisers retains a sizable 23.8 m-share position in MGM, giving it meaningful influence yet remaining below the 10 % disclosure trigger for Form 13D. Because no comparative prior-period data are supplied, investors cannot gauge whether the stake rose or fell; nevertheless, the filing reaffirms that nearly one-tenth of MGM’s equity is in steady institutional hands. Passive status limits governance impact, but large holders can still affect liquidity and sentiment. Overall valuation impact is modest and largely dependent on future trading activity by the adviser.

Corporate Governance Expert

TL;DR: 9.5 % ownership adds oversight leverage without activist pressure.

Davis Selected Advisers’ continued passive classification under Rule 13d-1(b) suggests no agenda to influence MGM’s board or strategy. Nonetheless, its near-10 % holding gives the adviser voting heft on proxy matters, potentially supporting management if interests align. Because the certification disclaims control intentions, immediate governance ramifications are limited. Investors should monitor future filings for any switch to Schedule 13D, which would indicate a more active stance and higher strategic risk.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

MGM Resorts International

(Name of Issuer)

Common Stock

(Title of Class of Securities)

552953101

(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. 552953101

1

Names of Reporting Persons

DAVIS SELECTED ADVISERS

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

COLORADO

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 23,134,026.00
6	Shared Voting Power
7	Sole Dispositive Power 23,821,109.00
8	Shared Dispositive Power

9

Aggregate Amount Beneficially Owned by Each Reporting Person

23,821,109.00

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)

9.5 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: MGM Resorts International
(b)	Address of issuer's principal executive offices: 3600 LAS VEGAS BLVD S, LAS VEGAS, NEVADA, 89109.
Item 2.
(a)	Name of person filing: DAVIS SELECTED ADVISERS
(b)	Address or principal business office or, if none, residence: 2949 East Elvira Road, Suite 101 Tucson, Arizona 85756
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 552953101
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: 23,821,109
(b)	Percent of class:
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 23,134,026
	(ii) Shared power to vote or to direct the vote:
	(iii) Sole power to dispose or to direct the disposition of: 23,821,109
	(iv) Shared power to dispose or to direct the disposition of:
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.

DAVIS SELECTED ADVISERS

Signature:	/s/ Michaela McLoughry
Name/Title:	Vice President, Chief Compliance Officer
Date:	08/07/2025

FAQ

How many MGM shares does Davis Selected Advisers own?

The firm reports 23,821,109 shares beneficially owned.

What percentage of MGM’s outstanding stock does this represent?

The position equals 9.5 % of MGM’s common shares.

Does Davis Selected Advisers have voting control over the shares?

Yes, it holds sole voting power over 23,134,026 shares and no shared voting power.

Is the firm seeking to influence MGM’s control or strategy?

No. The certification states the shares are held in the ordinary course, with no intent to influence control.

When was the beneficial ownership measured and the filing signed?

Ownership is as of 30 Jun 2025; the filing was signed on 07 Aug 2025.