Beretta Holding Amends Sturm Ruger Stake on March 25, 2026

TL;DR

**Beretta Holding just updated its stake in Sturm Ruger, watch for potential shifts in control or strategy.**

AI Summary

Beretta Holding S.A. filed an amended Schedule 13D/A on March 25, 2026, regarding its beneficial ownership in Sturm Ruger & Co Inc. This filing indicates a change in their previously reported stake, which is important for investors as it signals Beretta's ongoing interest and potential influence over Sturm Ruger, a company in the ordnance and accessories sector. While specific dollar amounts or share counts aren't detailed in this snippet, any change in a major holder's position can affect stock perception and future strategic decisions.

Why It Matters

This filing shows Beretta Holding S.A. is updating its ownership details in Sturm Ruger & Co Inc., which could signal a shift in their investment strategy or influence over the company.

Risk Assessment

Risk Level: medium — Changes in significant ownership can lead to volatility or strategic shifts, creating both opportunities and risks for investors.

Analyst Insight

Investors should monitor future filings from Beretta Holding S.A. for further changes in their stake in Sturm Ruger & Co Inc, as this could signal strategic shifts or potential M&A activity.

Key Numbers

• 0001193805-26-000343 — SEC Accession No. (unique identifier for this specific filing)
• 2026-03-25 — Filing Date (the date the Schedule 13D/A was filed)
• 12803 — EX-99.1 size (size of the letter to the board of directors)

Key Players & Entities

• Beretta Holding S.A. (company) — the entity filing the Schedule 13D/A
• Sturm Ruger & Co Inc (company) — the subject company of the Schedule 13D/A filing
• March 25, 2026 (date) — the filing date of the Schedule 13D/A
• 0002086731 (person) — CIK for Beretta Holding S.A.
• 0000095029 (person) — CIK for Sturm Ruger & Co Inc

Forward-Looking Statements

• Beretta Holding S.A. will continue to be a significant shareholder in Sturm Ruger & Co Inc. (Beretta Holding S.A.) — high confidence, target: 2027-03-25
• Sturm Ruger & Co Inc's stock price may experience minor fluctuations due to this amended filing. (Sturm Ruger & Co Inc) — medium confidence, target: 2026-04-25

FAQ

Key Financial Figures

• $2 million — nsation, at a total cost of fairly over $2 million per year, we nominated a minority slate
• $44.80 — not already own at a purchase price of $44.80 per share, representing a significant p

Filing Documents

• primary_doc.html (SCHEDULE 13D/A)
• primary_doc.xml (SCHEDULE 13D/A) — 6KB
• e665287_ex99-1.htm (EX-99.1) — 13KB
• image_001.jpg (GRAPHIC) — 5KB
• 0001193805-26-000343.txt ( ) — 28KB

From the Filing

EX-99.1 2 e665287_ex99-1.htm LETTER TO THE BOARD OF DIRECTORS, DATED MARCH 25, 2026 25 th March 2026 Board of Directors Sturm, Ruger & Company, Inc. 1 Lacey Place Southport, CT 06890 Attention: Board of Directors (“Board”) Dear Board Members, Beretta Holding S.A. (“Beretta Holding”) has long respected Sturm, Ruger & Company (“Ruger” or the “Company”) as one of the most important and enduring manufacturers in the American firearms industry. As we have repeatedly stated, our decision to acquire a meaningful ownership position in Ruger reflects that respect, our belief in the Company’s long-term prospects, its heritage, and the strength of its brand, as well as our desire to be strongly aligned with all stakeholders in helping the Company realize its full potential. From the outset, Beretta Holding’s primary objective has been simple: to act as a constructive strategic partner and help reverse the decline in Ruger’s operational and share price performance. Our global distribution capabilities, operational expertise, and deep understanding of the firearms market create opportunities to enhance Ruger’s strategic positioning and long-term growth potential. We do not consider Beretta Holding to be a direct competitor of Ruger within the U.S. market. The majority of our sales in the U.S. are focused on shotguns and related products, as well as ammunition and optics. While we also offer rifles and pistols, these categories represent a relatively minor portion of our U.S. business. Furthermore, within the rifle and pistol segments, our Group’s products are positioned differently from those offered by Ruger, and as such, we are not direct competitors in these areas. Beretta Holding’s presence in the U.S. began over 50 years ago. Our commitment to the U.S. has only grown; we now have nine entities employing close to 700 people. Our substantial investment in the U.S. should make it self-evident that we are not a typical foreign investor as you are trying to describe us. Since you have taken the opportunity to misrepresent our intentions for our strategic investment and distort our recent engagement, let us be clear – we are not seeking control of Ruger. Our strong desire and hope was, and remains, to enter into a strategic collaboration with the Company. When our confidential discussions reached an impasse around certain board-related matters – Board size, Board compensation, at a total cost of fairly over $2 million per year, we nominated a minority slate of director candidates to preserve our rights given the Company’s annual nomination deadline, a factor which is out of our control. We are deeply disappointed by the disingenuous manner in which the Board and management have conducted themselves throughout the course of our engagement. You continue to falsely label Beretta Holding as a “direct competitor” seeking to conduct a “creeping takeover” in your private and public communications, despite our repeated assurances that we harbor no such intentions. Your strategy for engaging with us is transparent: continuously portray Beretta Holding as a threat in order to justify the defensive measures you have adopted to protect a value-destructive status quo and entrench the longest-standing incumbent directors. It is not Beretta Holding that poses a threat to Ruger shareholders — it is the Board's own refusal to engage constructively with a willing, proven and highly credible strategic partner. We are here to help. * * * * * BERETTA HOLDING S.A. Registered Office 9, Rue Sainte Zithe, L-2763 Luxembourg R.C.S. Luxembourg B 224055 Our patience has run out. Since you have suspended further negotiations as of the Chairman’s March 16th letter, the only choice we have for seeking to increase our position and more strongly aligning our interests is to make a tender offer directly to Ruger shareholders. To that end, we are prepared to commence a tender offer for up to 20.05% of the outstanding shares that we do not already own at a purchase price of $44.80 per share, representing a significant premium of approximately 20% to the 60-day average price (VWAP). We expect that our tender offer would be subject to certain regulatory conditions, and we are confident in our ability to satisfy any such conditions. The “poison pill” rights plan (the “Poison Pill”) the Board adopted on October 14, 2025 unduly obstructs Beretta Holding’s ability to consummate this all-cash premium partial tender offer. It is incumbent upon the Board, in accordance with its fiduciary duties to shareholders, to grant Beretta Holding an exemption to allow us to acquire beneficial ownership of up to 30% of the outstanding shares of the Company by way of this tender offer. Beretta Holding’s ownership at this level would not amount to de facto control; would not constitute a &l

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