BCO Ownership Update: WBIM Drops Below 5 % Threshold

Rhea-AI Filing Summary

William Blair Investment Management, LLC (WBIM) filed Amendment No. 6 to Schedule 13G on Brink’s Co. (NYSE: BCO).

• Current ownership: 1,962,981 common shares, equal to 4.7 % of outstanding stock.
• Voting/Dispositive power: Sole voting power over 1,779,320 shares; sole dispositive power over the full 1,962,981 shares; no shared power reported.
• Because WBIM now holds under the 5 % threshold, the firm is no longer deemed a “5 % beneficial owner.” The filing clarifies that the position is held in the ordinary course of business and not to influence control.
• WBIM is classified as an investment adviser (IA) under Rule 13d-1(b)(1)(ii)(E).
• The amendment date is 30 June 2025; the certification was signed by the Chief Compliance Officer on 30 July 2025.

Key takeaway: WBIM remains a meaningful institutional holder but has reduced its stake below the regulatory reporting threshold, potentially signaling portfolio rebalancing or partial exit.

Positive

• Continued institutional support: WBIM still controls 1.96 M shares, indicating ongoing—if reduced—confidence in Brink’s.

Negative

• Stake drops below 5 %: Reduction suggests selling activity or dilution, removing WBIM from the 5 % beneficial-owner category and potentially dampening investor sentiment.

Insights

Portfolio Manager

TL;DR – WBIM trimmed its BCO stake below 5 %; signal is modestly negative but not thesis-changing.

A sub-5 % position (4.7 %) removes WBIM from the list of reportable 5 % owners, implying recent net sales or dilution. While 1.96 M shares remains a sizeable holding, the reduction can pressure sentiment if other institutions follow. No intent to influence control is stated, so governance impact is minimal. Liquidity in BCO shares appears adequate for WBIM to adjust without moving the market materially. Overall effect: slightly negative, highlighting possible waning conviction, yet not large enough to alter fundamentals.

Corporate Governance Analyst

TL;DR – Change is compliance-driven; governance impact neutral.

The amendment simply updates ownership data. Falling below 5 % eliminates certain Schedule 13D/G obligations and proxy disclosure thresholds, reducing WBIM’s potential influence over shareholder proposals. However, no coordinated group activity is alleged. From a governance lens, the filing is procedural, with negligible strategic implication for Brink’s control structure.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

BRINKS CO

(Name of Issuer)

Common Stock

(Title of Class of Securities)

109696104

(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. 109696104

1

Names of Reporting Persons

WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC

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 1,779,320.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,962,981.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,962,981.00

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)

4.7 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BRINKS CO
(b)	Address of issuer's principal executive offices: 1801 BAYBERRY COURT, P O BOX 18100, RICHMOND, VIRGINIA, 23226-1800
Item 2.
(a)	Name of person filing: William Blair Investment Management, LLC
(b)	Address or principal business office or, if none, residence: 150 North Riverside Plaza, Chicago, IL 60606
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 109696104
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: 1,962,981
(b)	Percent of class: 4.7%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,779,320
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,962,981
	(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.

WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC

Signature:	Walter R. Randall, Jr.
Name/Title:	Chief Compliance Officer
Date:	07/30/2025

FAQ

How many Brink’s (BCO) shares does William Blair Investment Management now own?

WBIM reports 1,962,981 common shares in the latest Schedule 13G/A.

What percentage of BCO’s outstanding shares does this represent?

The filing states WBIM’s holdings equal 4.7 % of the outstanding common stock.

Did William Blair Investment Management reduce its stake below the 5 % threshold?

Yes. The new 4.7 % position is below the 5 % beneficial-owner reporting threshold.

Does WBIM share voting or dispositive power with any other party?

No. The firm reports sole voting power over 1.78 M shares and sole dispositive power over 1.96 M shares, with zero shared power.

What is WBIM’s SEC classification in this filing?

WBIM is classified as an Investment Adviser (IA) under Rule 13d-1(b)(1)(ii)(E).

When was the event date triggering this Schedule 13G amendment?

The event date is listed as 30 June 2025.