SCHEDULE: American Century Reports 5.6% Stake in Spire Inc.

American Century Investment Management, Inc., along with its parent entities, reported a 5.6% beneficial ownership stake in Spire Inc. common stock as of June 30, 2025.

Summary

• American Century Investment Management, Inc., American Century Companies, Inc., and Stowers Institute for Medical Research collectively reported beneficial ownership of 3,302,369 shares of Spire Inc. Common Stock.
• This aggregate amount represents 5.6% of Spire Inc.'s outstanding common stock.
• The shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Spire Inc.
• American Century Investment Management, Inc. holds sole voting power over 3,165,448 shares and sole dispositive power over 3,302,369 shares.
• The Stowers Institute for Medical Research controls American Century Companies, Inc., which is the parent holding company of American Century Investment Management, Inc.

Sentiment

Score: 5

Explanation: The filing is a routine beneficial ownership disclosure and does not contain information that would significantly alter the sentiment towards the issuer. It is a factual report of a passive investment.

Positives

• A significant institutional investor, American Century Investment Management, Inc., maintains a substantial stake in Spire Inc., indicating continued confidence in the company.
• The filing explicitly states the shares are held in the ordinary course of business and not for control purposes, suggesting a passive, long-term investment approach.

Negatives

• No negative information regarding Spire Inc. or its operations is disclosed in this beneficial ownership report.

Risks

• The filing does not detail specific operational or financial risks for Spire Inc. It clarifies that the reported ownership is not intended to change or influence control of the issuer, mitigating risks associated with activist investor intentions.

Future Outlook

This filing is a beneficial ownership report and does not contain forward-looking statements or guidance regarding Spire Inc.'s future performance or strategic outlook.

Management Comments

• 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.

Industry Context

This Schedule 13G filing reflects a significant institutional investment in Spire Inc., a company typically operating in the utility sector. Such filings are common for large asset managers like American Century, indicating their portfolio allocations within various industries, including stable sectors like utilities.

Related Party Transactions

• American Century Companies, Inc. is the parent holding company of American Century Investment Management, Inc., and both are controlled by the Stowers Institute for Medical Research. This hierarchical relationship is disclosed as part of the beneficial ownership structure.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's stake, confirming a passive investment approach.
• Management: Awareness of a large, passive institutional investor on the shareholder register.

Key Dates

Keywords

Spire Inc., American Century Investment Management, Beneficial Ownership, Common Stock, Institutional Investor, Utilities, SEC Filing, Schedule 13G