[SCHEDULE 13G/A] National Vision Holdings, Inc. SEC Filing

Rhea-AI Filing Summary

Summary: Burgundy Asset Management Ltd. reports beneficial ownership of 2,505,978 shares of National Vision Holdings, Inc. common stock, representing 3.17% of the class. The filing states Burgundy is an investment adviser (IA) and discloses sole voting power over 1,833,858 shares and sole dispositive power over all 2,505,978 shares reported. The statement affirms the holdings were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Insights

Securities Analyst

TL;DR: Filing shows a passive, sub-5% stake with clear voting and dispositive disclosures; impact is limited.

Burgundy Asset Management reports a 3.17% beneficial holding in National Vision and cites sole voting power on 1,833,858 shares and sole dispositive power on 2,505,978 shares. Because the reported ownership is below 5% and the filing asserts ordinary-course passive intent, this disclosure is primarily compliance-driven. It provides transparency on stake size and control rights but does not, on its face, indicate an active attempt to influence corporate control.

Corporate Governance Expert

TL;DR: Detailed voting/dispositive breakdown is useful for governance monitoring; no sign of a control agenda in this filing.

The Schedule 13G/A identifies Burgundy as an investment adviser and documents both voting and dispositive authority levels, which assists boards and investors in tracking potential influence. The certification that the position is held in the ordinary course and not for control purposes indicates a passive stance. Given the stake is under the 5% reporting threshold for more active disclosures, the filing should be viewed as routine transparency rather than a governance event.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

National Vision Holdings, Inc.

(Name of Issuer)

Common

(Title of Class of Securities)

63845R107

(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. 63845R107

1

Names of Reporting Persons

Burgundy Asset Management Ltd.

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 1,833,858.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,505,978.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,505,978.00

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)

3.17 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: National Vision Holdings, Inc.
(b)	Address of issuer's principal executive offices: 2435 Commerce Avenue, Building 2200, Duluth, GA, 30096
Item 2.
(a)	Name of person filing: Burgundy Asset Management Ltd.
(b)	Address or principal business office or, if none, residence: 181 Bay Street, Suite 4510, Toronto, ON, M5J 2T3
(c)	Citizenship: Canada
(d)	Title of class of securities: Common
(e)	CUSIP No.: 63845R107
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: 2,505,978
(b)	Percent of class: 3.17%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,833,858
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2,505,978
	(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.

Burgundy Asset Management Ltd.

Signature:	/s/ Karen Mintz
Name/Title:	Karen Mintz, VP, CCO and Associate General Counsel
Date:	08/12/2025

FAQ

How many shares of EYE does Burgundy Asset Management own?

Burgundy Asset Management beneficially owns 2,505,978 shares of National Vision Holdings (EYE).

What percentage of National Vision (EYE) does Burgundy Asset Management hold?

The filing reports a 3.17% ownership stake in National Vision common stock.

How much voting power does Burgundy Asset Management have in EYE?

Burgundy reports sole voting power over 1,833,858 shares and shared voting power of 0 shares.

Does the filing indicate Burgundy intends to influence control of EYE?

The filing certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

What type of reporting person is Burgundy Asset Management?

Burgundy Asset Management is identified as an investment adviser (IA) in the filing.