SCHEDULE: Royce & Associates Discloses 6.08% Stake in Andersen Group

Investment adviser Royce & Associates LP has reported a 6.08% beneficial ownership stake in Andersen Group Inc.'s common stock as of December 31, 2025.

Summary

• Royce & Associates LP, an investment adviser, beneficially owns 769,314 shares of Andersen Group Inc. common stock.
• This ownership represents 6.08% of the total class of securities.
• Royce & Associates LP holds sole voting power and sole dispositive power over all 769,314 shares.
• The securities were acquired and are held in the ordinary course of business, without the purpose or effect of changing or influencing the control of Andersen Group Inc.
• Royce & Associates LP is an indirect majority-owned subsidiary of Franklin Resources, Inc. (FRI) but exercises independent investment discretion and voting authority.

Sentiment

Score: 7

Explanation: The disclosure of a significant institutional stake by a reputable investment adviser is generally viewed positively, indicating investor confidence. The explicit statement of passive intent further reduces potential concerns about activist intervention.

Positives

• A significant institutional investment by a reputable investment adviser, Royce & Associates LP, indicates confidence in Andersen Group Inc.'s value proposition.
• The explicit statement that shares are held in the ordinary course of business and not for influencing control suggests a passive, long-term investment perspective, which can be a stabilizing factor.

Risks

• No specific risks related to Andersen Group Inc. are disclosed in this Schedule 13G filing, which focuses solely on ownership disclosure.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding Andersen Group Inc.'s future performance or strategic direction, as it is solely an ownership disclosure.

Management Comments

• "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."

Industry Context

This Schedule 13G filing indicates a significant institutional investment in Andersen Group Inc. by Royce & Associates LP, a well-known investment adviser. Such disclosures are common in the financial industry, reflecting portfolio adjustments and long-term investment strategies by institutional players. The independent exercise of voting and investment powers by Royce & Associates, despite being a subsidiary of Franklin Resources, Inc., aligns with standard practices for large asset management firms to maintain distinct investment strategies across their various entities.

Related Party Transactions

• Royce & Associates, LP (RALP) is an indirect majority-owned subsidiary of Franklin Resources, Inc. (FRI). RALP exercises voting and investment powers independently from FRI and its other affiliates. RALP disclaims any pecuniary interest in the reported securities and disclaims being a 'group' with FRI affiliates or Principal Shareholders (Charles B. Johnson and Rupert H. Johnson, Jr.).

Stakeholder Impact

• Shareholders: May view the significant institutional investment as a positive signal of confidence in Andersen Group Inc.'s value and future prospects.
• Management: The passive nature of the investment (not for control) suggests no immediate pressure for strategic changes from this particular shareholder, allowing management to continue executing its current strategy.

Key Dates

Recommendation

The filing indicates a significant, passive institutional investment in Andersen Group Inc. by Royce & Associates LP. While this signals confidence from a reputable investor, the Schedule 13G itself does not provide new financial performance data or strategic updates that would warrant a 'buy' or 'sell' recommendation. It primarily confirms a substantial ownership stake, suggesting a 'hold' position to observe future company performance and broader market trends.

Keywords

Andersen Group Inc, Royce & Associates LP, Institutional Ownership, Common Stock, SEC Filing, Schedule 13G, Investment Adviser, Franklin Resources