SCHEDULE: Burgundy Asset Management Discloses 5.39% Stake in Hillman Solutions

Burgundy Asset Management Ltd. reported a 5.39% beneficial ownership stake in Hillman Solutions Corp. as of December 31, 2025, with ownership now aggregated under Bank of Montreal.

Summary

• Burgundy Asset Management Ltd. reported beneficial ownership of 10,643,254 common shares of Hillman Solutions Corp.
• This ownership represents 5.39% of the class of securities.
• Burgundy Asset Management Ltd. holds sole voting power over 7,708,678 shares and sole dispositive power over all 10,643,254 shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• As of November 1, 2025, Burgundy Asset Management Ltd. became a wholly owned subsidiary of Bank of Montreal, and this beneficial ownership is now aggregated in Bank of Montreal's Schedule 13G filing.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive signal, as a significant institutional stake by an investment adviser generally indicates confidence in the issuer, although the primary purpose is a regulatory disclosure of ownership.

Positives

• The disclosure of a significant institutional stake (5.39%) by an investment adviser can be interpreted as a vote of confidence in Hillman Solutions Corp.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that institutional ownership disclosures like this provide transparency into significant holdings, which can influence market perception of a company's stability and attractiveness to large investors. The aggregation under Bank of Montreal indicates a broader institutional strategy.

Stakeholder Impact

• Shareholders gain transparency regarding significant institutional ownership in Hillman Solutions Corp.
• The market may perceive increased institutional interest in Hillman Solutions Corp. due to the disclosed stake.

Key Dates

Recommendation

This Schedule 13G filing primarily serves as a disclosure of a significant institutional ownership stake by Burgundy Asset Management Ltd. in Hillman Solutions Corp. While a substantial institutional holding can be viewed as a positive indicator of investor confidence, the filing itself does not provide new operational or financial performance data to warrant a 'buy' or 'sell' recommendation. The aggregation of ownership under Bank of Montreal is a structural change for the reporting entity, not a direct reflection of Hillman's performance. Therefore, a 'hold' recommendation is appropriate, pending further fundamental analysis of Hillman Solutions Corp.'s business and financial results.

Keywords

Hillman Solutions Corp, Burgundy Asset Management, Bank of Montreal, Schedule 13G, beneficial ownership, common stock, institutional ownership, investment adviser