Institutional Adviser Thrivent Holds 735,121 LMB Shares (6.32%)

Rhea-AI Filing Summary

Thrivent Financial for Lutherans filed a Schedule 13G reporting ownership of 735,121 common shares of Limbach Holdings, Inc. (LMB), representing 6.32% of the outstanding common stock based on August 4, 2025 share counts. The filing shows 3,304 shares held with sole voting and dispositive power and 731,817 shares held with shared voting and dispositive power.

The reported stake reflects shares held in registered investment companies advised by Thrivent and by Thrivent Asset Management, LLC; Thrivent disclaims beneficial ownership of the 3,304 shares held in the Thrivent Defined Benefit Plan Trust. The filing includes the required certification that the holdings are in the ordinary course of business and not intended to influence control.

Positive

• Institutional stake above 5% (735,121 shares; 6.32%) signals meaningful institutional ownership
• Clear disclosure of voting and dispositive power, with a breakdown between sole and shared power
• Certification included that holdings are in the ordinary course of business (passive intent)

Negative

• Large majority of holdings reported as shared power (731,817 shares), which limits clarity on direct control
• Filing relies on another document for the share count baseline (company Quarterly Report as of August 4, 2025), creating a dependency on that source for accuracy

Insights

Investment Adviser Compliance Analyst

Institutional adviser reports a >5% passive stake via advised funds.

The filing documents that Thrivent Financial for Lutherans and its wholly owned adviser controlled funds together hold 735,121 shares, equal to 6.32% of the company as of the referenced share count.

This ownership is reported under Schedule 13G and certified as held in the ordinary course of business, indicating a passive investment posture rather than an intent to change control; monitor any future amendments that move the filing to Schedule 13D if the purpose or level of involvement changes within typical SEC reporting windows.

Corporate Ownership Analyst

Share concentration and voting split are clearly disclosed.

The statement breaks out 3,304 shares with sole voting/dispositive power and 731,817 shares with shared voting/dispositive power, reflecting that most economic exposure is via funds advised by Thrivent and its subsidiary.

For investors, the material item is the 6.32% share of the class; follow-up items to watch include any changes in the aggregate percent or voting control reported in subsequent filings over the next reporting cycle.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Limbach Holdings, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

53263P105

(CUSIP Number)

09/30/2025

(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. 53263P105

1

Names of Reporting Persons

THRIVENT FINANCIAL FOR LUTHERANS

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

WISCONSIN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,304.00
6	Shared Voting Power 731,817.00
7	Sole Dispositive Power 3,304.00
8	Shared Dispositive Power 731,817.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

735,121.00

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)

6.3 %

12

Type of Reporting Person (See Instructions)

IA, IC

Comment for Type of Reporting Person: Item 5, Item 7 and Item 9 - Thrivent Financial for Lutherans disclaims beneficial ownership of the 3,304 shares held in the Thrivent Defined Benefit Plan Trust. Item 6, Item 8 and Item 9 - Represents 169,844 shares held by registered investment companies for which Thrivent Financial for Lutherans serves as investment adviser, and 561,973 shares held by registered investment companies for which Thrivent Asset Management, LLC, a Delaware limited liability company and a wholly-owned subsidiary of Thrivent Financial for Lutherans, serves as investment adviser. Item 11 - The percentage calculations used herein are based on the statement int the Company's Quarterly Report on Form 10-Q for the quarter ending June 30, 202, as filed with the Securities and Exchange Commission on August 5, 2025, that there were 11,626,814 common shares outstanding of Limbach Holdings Inc. as of August 4, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Limbach Holdings, Inc.
(b)	Address of issuer's principal executive offices: 797 COMMONWEALTH DRIVE, WARRENDALE, PENNSYLVANIA, 15086.
Item 2.
(a)	Name of person filing: Thrivent Financial for Lutherans
(b)	Address or principal business office or, if none, residence: 901 Marquette Avenue, Suite 2500 Minneapolis, MN 55402
(c)	Citizenship: Thrivent Financial for Lutherans is a Wisconsin fraternal benefit society.
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 53263P105
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: 735,121 Thrivent Financial for Lutherans disclaims beneficial ownership of the 3,304 shares held in the Thrivent Defined Benefit Plan Trust. Represents 169,844 shares held by registered investment companies for which Thrivent Financial for Lutherans serves as investment adviser, and 561,973 shares held by registered investment companies for which Thrivent Asset Management, LLC, a Delaware limited liability company and a wholly-owned subsidiary of Thrivent Financial for Lutherans, serves as investment adviser.
(b)	Percent of class: 6.32 The percentage calculations used herein are based on the statement int the Company's Quarterly Report on Form 10-Q for the quarter ending June 30, 202, as filed with the Securities and Exchange Commission on August 5, 2025, that there were 11,626,814 common shares outstanding of Limbach Holdings Inc. as of August 4, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 3,304 Thrivent Financial for Lutherans disclaims beneficial ownership of these shares held in the Thrivent Defined Benefit Plan Trust.
	(ii) Shared power to vote or to direct the vote: 731,817 Represents 169,844 shares held by registered investment companies for which Thrivent Financial for Lutherans serves as investment adviser, and 561,973 shares held by registered investment companies for which Thrivent Asset Management, LLC, a Delaware limited liability company and a wholly-owned subsidiary of Thrivent Financial for Lutherans, serves as investment adviser.
	(iii) Sole power to dispose or to direct the disposition of: 3,304 Thrivent Financial for Lutherans disclaims beneficial ownership of these shares held in the Thrivent Defined Benefit Plan Trust.
	(iv) Shared power to dispose or to direct the disposition of: 731,817 Represents 169,844 shares held by registered investment companies for which Thrivent Financial for Lutherans serves as investment adviser, and 561,973 shares held by registered investment companies for which Thrivent Asset Management, LLC, a Delaware limited liability company and a wholly-owned subsidiary of Thrivent Financial for Lutherans, serves as investment adviser.
Item 5.	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.

THRIVENT FINANCIAL FOR LUTHERANS

Signature:	David S. Royal
Name/Title:	Chief Financial Officer
Date:	10/07/2025

FAQ

What stake in Limbach Holdings (LMB) does Thrivent Financial report?

Thrivent reports ownership of 735,121 shares, equal to 6.32% of Limbach's common stock based on the referenced outstanding share count.

Does Thrivent claim control of Limbach Holdings (LMB)?

No. The Schedule 13G includes a certification that the shares are held in the ordinary course of business and not to influence control; the filing is a passive disclosure rather than a control claim.

How are the reported shares divided by voting power?

The filing shows 3,304 shares with sole voting/dispositive power and 731,817 shares with shared voting/dispositive power.

Which Thrivent entities hold the shares reported for LMB?

The shares represent holdings in registered investment companies advised by Thrivent Financial for Lutherans (169,844 shares) and by Thrivent Asset Management, LLC (561,973 shares).

What reporting date or share-count basis does the filing use?

Percentage calculations use the company share count reported as of August 4, 2025, with 11,626,814 common shares outstanding according to the referenced Quarterly Report.