Boyd Group Services Inc. (BGSI) Schedule 13G filing reports that Bank of Montreal and related BMO entities jointly beneficially own 1,439,801 common shares, representing 4.4% of the class as of 03/31/2026. The filing breaks down voting and dispositive powers across named BMO affiliates.
The disclosure lists sole voting power and sole dispositive power amounts for each reporting entity (for example, Bank of Montreal: 1,425,657 sole votes; 1,436,028 sole dispositive), and shows specific holdings for BMO Asset Management, Burgundy Asset Management and others. The filing is a passive beneficial ownership report under Schedule 13G.
Positive
None.
Negative
None.
Insights
Concentrated institutional holdings by BMO group disclosed at 4.4%.
The filing documents that Bank of Montreal and affiliated entities collectively hold 1,439,801 shares of BGSI as of 03/31/2026. Ownership is split across several legal entities with detailed sole and shared voting/dispositive power figures in the schedule.
Cash‑flow treatment is not stated; subsequent filings will show changes. Watch future beneficial ownership updates for material shifts above 5% or filings that convert the group to Schedule 13D status.
Key Figures
Beneficial ownership:1,439,801 sharesPercent of class:4.4%Bank of Montreal sole voting power:1,425,657 shares+3 more
6 metrics
Beneficial ownership1,439,801 sharesAmount beneficially owned as of 03/31/2026
Percent of class4.4%Percent of common shares reported in Item 4
Bank of Montreal sole voting power1,425,657 sharesSole power to vote reported for Bank of Montreal
Bank of Montreal sole dispositive power1,436,028 sharesSole power to dispose reported for Bank of Montreal
BMO Asset Management holdings540,473 sharesSole voting and dispositive power reported
Burgundy Asset Management holdings603,740 sharesSole dispositive power reported
Key Terms
Schedule 13G, Beneficially owned, Sole dispositive power, Sole voting power
4 terms
Schedule 13Gregulatory
"Item 1. Name of issuer: Boyd Group Services Inc.; the form type is Schedule 13G"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Sole dispositive powerregulatory
"Item 4 (iii) Sole power to dispose or to direct the disposition of: Bank of Montreal - 1,436,028"
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.
Sole voting powerregulatory
"Item 4 (i) Sole power to vote or to direct the vote: Bank of Montreal - 1,425,657"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Boyd Group Services Inc.
(Name of Issuer)
Common Shares
(Title of Class of Securities)
103310108
(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):
103310108
1
Names of Reporting Persons
Bank of Montreal
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
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,425,657.00
6
Shared Voting Power
3,773.00
7
Sole Dispositive Power
1,436,028.00
8
Shared Dispositive Power
3,773.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,439,801.00
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)
5.17 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP Number(s):
103310108
1
Names of Reporting Persons
BANK OF MONTREAL HOLDING INC.
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
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
826,957.00
6
Shared Voting Power
3,773.00
7
Sole Dispositive Power
826,957.00
8
Shared Dispositive Power
3,773.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
830,730.00
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)
0 %
12
Type of Reporting Person (See Instructions)
BK
SCHEDULE 13G
CUSIP Number(s):
103310108
1
Names of Reporting Persons
BMO NESBITT BURNS INC. WEALTH MANAGEMENT
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
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
827,444.00
6
Shared Voting Power
1,280.00
7
Sole Dispositive Power
827,444.00
8
Shared Dispositive Power
1,280.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
828,724.00
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)
2.97 %
12
Type of Reporting Person (See Instructions)
BD
SCHEDULE 13G
CUSIP Number(s):
103310108
1
Names of Reporting Persons
BMO PRIVATE INVESTMENT COUNSEL INC.
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
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
293.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
293.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
293.00
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)
0 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
103310108
1
Names of Reporting Persons
BMO ASSET MANAGEMENT INC.
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
ONTARIO, CANADA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
540,473.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
540,473.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
540,473.00
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)
1.94 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
103310108
1
Names of Reporting Persons
BMO NESBITT BURNS INC.
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
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,493.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,493.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,493.00
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)
0 %
12
Type of Reporting Person (See Instructions)
BD
SCHEDULE 13G
CUSIP Number(s):
103310108
1
Names of Reporting Persons
1001271606 ONTARIO INC
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
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
593,369.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
603,740.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
603,740.00
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)
2.16 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP Number(s):
103310108
1
Names of Reporting Persons
Burgundy Asset Management, Inc.
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
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
593,369.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
603,740.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
603,740.00
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)
2.16 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Boyd Group Services Inc.
(b)
Address of issuer's principal executive offices:
1745 ELLICE AVE., UNIT C1, WINNIPEG, MANITOBA, CANADA
00000
Item 2.
(a)
Name of person filing:
Bank of Montreal
BANK OF MONTREAL HOLDING INC.
BMO NESBITT BURNS INC. WEALTH MANAGEMENT
BMO PRIVATE INVESTMENT COUNSEL INC.
BMO ASSET MANAGEMENT INC.
BMO NESBITT BURNS INC.
1001271606 ONTARIO INC
Burgundy Asset Management, Inc.
(b)
Address or principal business office or, if none, residence:
1 First Canadian Place
Toronto, Ontario, Canada
M5X1A1
(c)
Citizenship:
Bank of Montreal - CANADA (FEDERAL LEVEL)
BANK OF MONTREAL HOLDING INC. - CANADA (FEDERAL LEVEL)
BMO NESBITT BURNS INC. WEALTH MANAGEMENT - CANADA (FEDERAL LEVEL)
BMO PRIVATE INVESTMENT COUNSEL INC. - CANADA (FEDERAL LEVEL)
BMO ASSET MANAGEMENT INC. - ONTARIO, CANADA
BMO NESBITT BURNS INC. - CANADA (FEDERAL LEVEL)
1001271606 ONTARIO INC - CANADA (FEDERAL LEVEL)
Burgundy Asset Management, Inc. - CANADA (FEDERAL LEVEL)
(d)
Title of class of securities:
Common Shares
(e)
CUSIP Number(s):
103310108
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:
1439801
(b)
Percent of class:
4.4 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Bank of Montreal - 1,425,657
BANK OF MONTREAL HOLDING INC. - 826,957
BMO NESBITT BURNS INC. WEALTH MANAGEMENT - 827,444
BMO PRIVATE INVESTMENT COUNSEL INC. - 293
BMO ASSET MANAGEMENT INC. - 540,473
BMO NESBITT BURNS INC. - 0
1001271606 ONTARIO INC - 593,369
Burgundy Asset Management, Inc. - 593,369
(ii) Shared power to vote or to direct the vote:
Bank of Montreal - 3,773
BANK OF MONTREAL HOLDING INC. - 3,773
BMO NESBITT BURNS INC. WEALTH MANAGEMENT - 1,280
BMO PRIVATE INVESTMENT COUNSEL INC. - 0
BMO ASSET MANAGEMENT INC. - 0
BMO NESBITT BURNS INC. - 2,493
1001271606 ONTARIO INC - 0
Burgundy Asset Management, Inc. - 0
(iii) Sole power to dispose or to direct the disposition of:
Bank of Montreal - 1,436,028
BANK OF MONTREAL HOLDING INC. - 826,957
BMO NESBITT BURNS INC. WEALTH MANAGEMENT - 827,444
BMO PRIVATE INVESTMENT COUNSEL INC. - 293
BMO ASSET MANAGEMENT INC. - 540,473
BMO NESBITT BURNS INC. - 0
1001271606 ONTARIO INC - 603,740
Burgundy Asset Management, Inc. - 603,740
(iv) Shared power to dispose or to direct the disposition of:
Bank of Montreal - 3,773
BANK OF MONTREAL HOLDING INC. - 3,773
BMO NESBITT BURNS INC. WEALTH MANAGEMENT - 1,280
BMO PRIVATE INVESTMENT COUNSEL INC. - 0
BMO ASSET MANAGEMENT INC. - 0
BMO NESBITT BURNS INC. - 2,493
1001271606 ONTARIO INC - 0
Burgundy Asset Management, Inc. - 0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
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.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See Documents.
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any syndicate or group with respect to the issuer or any securities of the issuer.
Item 9.
Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5.
Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any syndicate or group with respect to the issuer or any securities of the issuer.
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.
The filing states 1,439,801 shares beneficially owned, equal to 4.4% of common shares as of 03/31/2026. The schedule attributes holdings across several BMO entities with specified voting and dispositive powers.
Which BMO entities are listed as holders of BGSI shares?
Named reporting persons include Bank of Montreal, Bank of Montreal Holding Inc., BMO Nesbitt Burns Inc. Wealth Management, BMO Asset Management Inc. and Burgundy Asset Management, Inc. with individual share counts disclosed in the schedule.
Does the Schedule 13G show voting authority for the shares?
Yes. The filing provides sole voting power and shared voting power per entity (for example, Bank of Montreal shows 1,425,657 sole voting and 3,773 shared voting votes as reported).
Is this a passive Schedule 13G or an active Schedule 13D filing?
This document is a Schedule 13G beneficial ownership statement. It reports holdings by institutional/related entities and does not convert into an active Schedule 13D in this excerpt.
What percent ownership would trigger additional disclosures?
Owning more than 5% of an issuer frequently requires different disclosure treatments; this filing reports 4.4%, below that common threshold as of 03/31/2026
