MFS (NWG) discloses 368.9M shares, 4.6% beneficial stake

Rhea-AI Filing Summary

NATWEST GROUP PLC ownership disclosure: Massachusetts Financial Services Company amended its Schedule 13G to report beneficial ownership of 368,918,196 shares of Common Stock, representing 4.6% of the class. The filing states MFS has sole voting power over 340,468,188 shares and sole dispositive power over 368,918,196.

The amendment is signed by a Compliance Director on 05/14/2026 and lists MFS's address in Boston, Delaware citizenship, and the issuer CUSIP 639057207. This filing updates the previously reported beneficial ownership positions for regulatory visibility.

Insights

Institutional Ownership Analyst

Large passive stake disclosed: 4.6% beneficial ownership by MFS.

The filing reports a substantial institutional holding of 368,918,196 shares (4.6% of the class). The breakdown shows sole voting power on 340,468,188 shares, indicating voting control concentrated with the reporting entity.

Impact depends on MFS's intentions; subsequent filings or voting disclosures would clarify whether this position is strategic or passive. Future Schedule 13D/13G amendments may state any change in intent.

Regulatory Compliance Specialist

Amendment aligns with Section 13 disclosure practice for >5% thresholds or updates.

The Schedule 13G/A format and signature by a Compliance Director indicate an amendment to previously filed beneficial-ownership disclosures. The filing lists issuer CUSIP 639057207 and MFS's business address.

Watch for further amendments if MFS's ownership crosses different disclosure thresholds or its intent changes; current filing remains a passive disclosure of holdings.

Key Figures

Beneficial ownership: 368,918,196 shares Percent of class: 4.6% Sole voting power: 340,468,188 shares +3 more

6 metrics

Beneficial ownership 368,918,196 shares as reported in Schedule 13G/A amendment

Percent of class 4.6% percent of common stock reported by MFS

Sole voting power 340,468,188 shares shares over which MFS has sole voting power

Sole dispositive power 368,918,196 shares shares over which MFS has sole power to dispose

CUSIP 639057207 NATWEST GROUP PLC common stock CUSIP

Signature date 05/14/2026 date of amendment signature by Compliance Director

Key Terms

Schedule 13G/A, Beneficial ownership, Sole dispositive power

3 terms

Schedule 13G/A regulatory

"amended its Schedule 13G to report beneficial ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficial ownership regulatory

"Amount beneficially owned: 368,918,196 shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 368,918,196"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

NATWEST GROUP PLC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

639057207

(CUSIP Number)

03/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 639057207

1

Names of Reporting Persons

Massachusetts Financial Services Company

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 340,468,188.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 368,918,196.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

368,918,196.00

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)

4.6 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: NATWEST GROUP PLC
(b)	Address of issuer's principal executive offices: 250 Bishopsgate, London EC2M 4AA, United Kingdom
Item 2.
(a)	Name of person filing: Massachusetts Financial Services Company
(b)	Address or principal business office or, if none, residence: 111 Huntington Avenue, Boston, MA 02199
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 639057207
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: 368,918,196 shares of Common Stock (consisting of the sum of Common Stock and NATWEST GROUP PLC American Depository Receipt Depository Receipts on an as-converted basis to shares of Common Stock)
(b)	Percent of class: 4.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 340,468,188
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 368,918,196
	(iv) Shared power to dispose or to direct the disposition of: 0
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 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.

Massachusetts Financial Services Company

Signature:	Deepu Pylee
Name/Title:	Compliance Director
Date:	05/14/2026

FAQ

What stake does Massachusetts Financial Services Company hold in NATWEST GROUP PLC (NWG)?

Massachusetts Financial Services Company reports beneficial ownership of 368,918,196 shares, equal to 4.6% of NATWEST GROUP PLC's common stock. The filing appears as an amended Schedule 13G/A signed on 05/14/2026.

How many shares does MFS have voting power over in NWG?

The filing states MFS has sole voting power for 340,468,188 shares of NWG common stock. Shared voting power is reported as 0 in this amendment.

Does the Schedule 13G/A indicate MFS will actively control NATWEST decisions?

The amendment lists sole voting and dispositive powers but does not state any intent to control or change management. It reports holdings as beneficial ownership without additional strategic statements.

What is the CUSIP and where is the issuer located in the filing?

The filing lists CUSIP 639057207 for NATWEST GROUP PLC. The issuer's principal executive office is given as 250 Bishopsgate, London EC2M 4AA, United Kingdom.

Who signed the Schedule 13G/A amendment for MFS and when?

The amendment is signed by Deepu Pylee, identified as Compliance Director, with a signature date of 05/14/2026 on the filing.