MONRO, INC. — Major Shareholding Notification 2025

Aug 1, 2025

xml version="1.0" encoding="UTF-8"? SCHEDULE 13D 0000807249 XXXXXXXX LIVE Common Stock, par value $0.01 per share 07/31/2025 false 0000876427 610236101 MONRO, INC. 295 WOODCLIFF DRIVE, SUITE 202 FAIRPORT NY 14450 DAVID GOLDMAN 914-921-5000 191 MASON STREET GREENWICH CT 06830 0000807249 N GAMCO INVESTORS, INC. ET AL WC N NY 400.00 0.00 400.00 0.00 400.00 Y 0.0 CO HC 0001081407 N GABELLI FUNDS LLC OO N NY 212400.00 0.00 212400.00 0.00 212400.00 N 0.7 CO IA 0001460612 N GAMCO Asset Management Inc. OO N NY 1202330.00 0.00 1211530.00 0.00 1211530.00 N 4.0 CO IA Y GABELLI FOUNDATION, INC. WC N NV 46000.00 0.00 46000.00 0.00 46000.00 N 0.2 OO Y MJG ASSOCIATES, INC. OO N CT 23400.00 0.00 23400.00 0.00 23400.00 N 0.1 CO 0001444874 N Teton Advisors, Inc. OO N DE 8000.00 0.00 8000.00 0.00 8000.00 N 0.0 CO IA 0001238894 N GGCP, INC. WC N WY 0.00 0.00 0.00 0.00 0.00 Y 0.0 CO HC 0001642122 N Associated Capital Group, Inc. WC N DE 0.00 0.00 0.00 0.00 0.00 Y 0.0 CO HC 0001185533 N GABELLI MARIO J PF N X1 400.00 0.00 400.00 0.00 400.00 N 0.0 IN Common Stock, par value $0.01 per share MONRO, INC. 295 WOODCLIFF DRIVE, SUITE 202 FAIRPORT NY 14450 This statement is being filed by one or more of the following persons: GGCP, Inc. (GGCP), GGCP Holdings LLC (GGCP Holdings), GAMCO Investors, Inc. (GBL), Associated Capital Group, Inc. (AC), Gabelli Funds, LLC (Gabelli Funds), GAMCO Asset Management Inc. (GAMCO), Teton Advisors, LLC (Teton Advisors), Keeley-Teton Advisors, LLC (Keeley-Teton), Gabelli & Company Investment Advisers, Inc. (GCIA), Morgan Group Holding Co., (MGH), G.research, LLC (G.research), MJG Associates, Inc. (MJG Associates), Gabelli Securities International (Bermuda) Limited (GSIL), Gabelli Foundation, Inc. (Foundation), Mario Gabelli, LICT and CIBL. Those of the foregoing persons signing this Schedule 13D are hereinafter referred to as the Reporting Persons. GAMCO is a New York corporation and GBL and MGH are Delaware corporations, each having its principal business office at One Corporate Center, Rye, New York 10580. GGCP is a Wyoming corporation and AC and GCIA are Delaware corporations each having its principal business office 191 Mason Street, Greenwich, CT 06830. GGCP Holdings is a Delaware limited liability corporation having its principal business office at 191 Mason Street, Greenwich, CT 06830. G.research is a Delaware limited liability company having its principal officers at One Corporate Center, Rye, New York 10580. Gabelli Funds is a New York limited liability company having its principal business office at One Corporate Center, Rye, New York 10580. Teton Advisors is a Delaware limited liability company having its principal place of business at 189 Mason Street, Greenwich, CT 06830. Keeley-Teton Advisors is a Delaware limited liability company having its principal place of business at 141 W. Jackson Blvd., Chicago, IL 60604. MJG Associates is a Connecticut corporation having its principal business office at 191 Mason Street, Greenwich, CT 06830. The Foundation is a Nevada corporation having its principal offices at 165 West Liberty Street, Reno, Nevada 89501. LICT is a Delaware corporation having its principal place of business as 401 Theodore Fremd Avenue, Rye, New York 10580. CIBL, Inc. is a Delaware corporation having its principal place of business as 165 West Liberty Street, Suite 220, Reno, NV 89501. Not applicable. Not applicable. United States. The Reporting Persons used an aggregate of approximately $36,433,939 to purchase the Securities reported as beneficially owned in Item 5. GAMCO and Gabelli Funds used approximately $29,606,679 and $4,793,479, respectively, of funds that were provided through the accounts of certain of their investment advisory clients (and, in the case of some of such accounts at GAMCO, may be through borrowings from client margin accounts) in order to purchase the Securities for such clients. Foundation used approximately $974,494 of working capital to purchase the Securities reported by it. GBL used approximately $8,314 of working capital to purchase the Securities reported by it. MJG Associates used approximately $920,144 of client funds to purchase the Securities reported by it. Mario Gabelli used approximately $6,304 of private funds to purchase the Securities reported by it. Teton used approximately $124,524 of client funds to purchase the Securities reported by it. Each of the Reporting Persons has purchased and holds the Securities reported by it for investment for one or more accounts over which it has shared, sole, or both investment and/or voting power, for its own account, or both. The Reporting Persons are engaged in the business of securities analysis and investment. The Reporting Persons analyze the operations, capital structure and markets of companies in which they invest, including the Issuer, on a continuous basis through analysis of documentation and discussions with knowledgeable industry and market observers and with representatives of such companies (often at the invitation of management). As a result of these analytical activities one or more of the Reporting Persons may issue analysts reports, participate in interviews or hold discussions with third parties, with management or with Directors in which the Reporting Person may suggest or take a position with respect to potential changes in the operations, management or capital structure of such companies as a means of enhancing shareholder values. Such suggestions or positions may relate to one or more of the transactions specified in clauses (a) through (j) of Item 4 of Schedule 13D including, without limitation, such matters as disposing of one or more businesses, selling the company or acquiring another company or business, changing operating or marketing strategies, adopting or not adopting, certain types of anti-takeover measures and restructuring the company capitalization or dividend policy. Each of the Reporting Persons intends to adhere to the foregoing investment philosophy with respect to the Issuer. However, none of the Reporting Persons intends to seek control of the Issuer or participate in the management of the Issuer, and any Reporting Person that is registered as an investment company under the Company Act will participate in such a transaction only following receipt of an exemption from the SEC under Rule 17d-1 under the Company Act, if required, and in accordance with other applicable law. In pursuing this investment philosophy, each Reporting Person will continuously assess the Issuers business, financial condition, results of operations and prospects, general economic conditions, the securities markets in general and those for the Issuers securities in particular, other developments and other investment opportunities, as well as the investment objectives and diversification requirements of its shareholders or clients and its fiduciary duties to such shareholders or clients. Depending on such assessments, one or more of the Reporting Persons may acquire additional Securities or may determine to sell or otherwise dispose of all or some of its holdings of Securities. Although the Reporting Persons share the same basic investment philosophy and although most portfolio decisions are made by or under the supervision of Mario Gabelli, the investment objectives and diversification requirements of various clients differ from those of other clients so that one or more Reporting Persons may be acquiring Securities while others are disposing of Securities. With respect to voting of the Securities, the Reporting Persons have adopted general voting policies relating to voting on specified issues affecting corporate governance and shareholder values. Under these policies, the Reporting Persons generally vote all securities over which they have voting power in favor of cumulative voting, financially reasonable golden parachutes, one share one vote, management cash incentives and pre-emptive rights and against greenmail, poison pills, supermajority voting, blank check preferred stock and super-dilutive stock options. Exceptions may be made when management otherwise demonstrates superior sensitivity to the needs of shareholders. In the event that the aggregate voting position of all Reporting Persons exceeds 25% of the total voting position of the Issuer, one or more of the filing persons may transfer voting and/or dispositive power over shares to independent committees of directors or the owners of such shares. Such committees vote and/or consider disposition of such shares independently of the Reporting Persons. Each of the Covered Persons who is not a Reporting Person has purchased the Securities reported herein as beneficially owned by him for investment for his own account or that of one or more members of his immediate family. Each such person may acquire additional Securities or dispose of some or all of the Securities reported herein with respect to him. Other than as described above, none of the Reporting Persons and none of the Covered Persons who is not a Reporting Person has any present plans or proposals which relate to or would result in any transaction, change or event specified in clauses (a) through (j) of Item 4 of Schedule 13D. The aggregate number of Securities to which this Schedule 13D relates is 1,502,130 shares, representing 5.01% of the 29,978,942 shares outstanding as reported by the Issuer in their most recently filed Form 10-Q for the quarterly period ended June 28, 2025. The Reporting Persons beneficially own those Securities as follows: GAMCO 1,211,530 shares 4.04%, Gabelli Funds 212,400 shares 0.71%, Foundation 46,000 shares 0.15%, GBL 400 shares 0.00%, MJG Associates 23,400 shares, 0.08%, Mario Gabelli 400 shares 0.00% and Teton Advisors 8,000 shares 0.03%. Each of the Reporting Persons and Covered Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of the Securities reported for it, either for its own benefit or for the benefit of its investment clients or its partners, as the case may be, except that (i) GAMCO does not have authority to vote 9,200 of the reported shares, (ii) Gabelli Funds has sole dispositive and voting power with respect to the shares of the Issuer held by the Funds so long as the aggregate voting interest of all joint filers does not exceed 25% of their total voting interest in the Issuer and, in that event, the Proxy Voting Committee of each Fund shall respectively vote that Funds shares, (iii) at any time, the Proxy Voting Committee of each such Fund may take and exercise in its sole discretion the entire voting power with respect to the shares held by such fund under special circumstances such as regulatory considerations, and (iv) the power of Mario Gabelli, AC, GBL, and GGCP is indirect with respect to Securities beneficially owned directly by other Reporting Persons. Information with respect to all transactions in the Securities which were effected during the past sixty days or since the most recent filing on Schedule 13D, whichever is less, by each of the Reporting Persons and Covered Persons is set forth below: DATE SHARES PURCHASED PRICE /SOLD GABELLI FOUNDATION, INC. 7/7/2025 1,000 15.7800 6/30/2025 1,000 14.5800 6/26/2025 4,000 13.6600 6/25/2025 4,000 14.1825 6/11/2025 4,000 16.1923 6/4/2025 500 15.9500 GABELLI FUNDS, LLC GABELLI ASSET FUND 7/16/2025 3,000 14.6622 GABELLI DIVIDEND & INCOME TRUST 7/16/2025 3,000 14.6622 GABELLI GLOBAL SMALL & MIDCAP VALUE TRUST 6/23/2025 200 14.3250 6/13/2025 1,500 14.5800 GABELLI SMALL CAP GROWTH FUND 7/17/2025 8,000 14.8800 7/10/2025 2,000 15.8350 6/30/2025 8,000 14.7031 6/20/2025 1,500 14.2030 GAMCO ASSET MANAGEMENT INC. 7/31/2025 3,700 12.9232 7/31/2025 3,000 12.9800 7/31/2025 16,900 13.1201 7/30/2025 50 12.7216 7/30/2025 400 13.0232 7/30/2025 10,000 13.1992 7/30/2025 4,000 13.5117 7/30/2025 11,200 13.6312 7/30/2025 1,500 13.7700 7/30/2025 500 13.8291 7/30/2025 2,000 13.8434 7/30/2025 400 15.5987 7/30/2025 200 15.5987 7/28/2025 -1,000 16.0000 7/24/2025 2,000 15.9800 7/23/2025 15 16.6440 7/22/2025 200 15.4416 7/22/2025 1,200 15.4560 7/18/2025 1,200 14.6400 7/18/2025 5,000 14.6784 7/18/2025 5,000 14.6927 7/18/2025 3,000 14.9500 7/17/2025 -100 14.8217 7/17/2025 541 14.8386 7/17/2025 700 14.8440 7/17/2025 2,900 14.8648 7/16/2025 800 14.6400 7/16/2025 8,459 14.9650 7/16/2025 100 15.0500 7/15/2025 6,000 15.4246 7/15/2025 500 15.8100 7/11/2025 3,500 15.8000 7/11/2025 1,000 15.9200 7/11/2025 1,000 15.9200 7/11/2025 -500 16.0000 7/10/2025 3,500 15.8000 7/10/2025 11,200 16.2993 7/9/2025 200 15.4800 7/9/2025 3,500 15.5475 7/8/2025 2,200 15.7948 7/8/2025 25 15.8014 7/8/2025 50 15.8185 7/8/2025 25 15.8885 7/7/2025 400 16.0250 7/7/2025 6,800 16.0588 7/7/2025 500 16.1715 7/3/2025 7,300 16.6955 7/2/2025 400 15.9600 7/2/2025 1,260 16.0419 7/2/2025 100 16.1200 7/2/2025 5,000 16.2309 7/2/2025 5,500 16.4455 7/2/2025 8,000 16.4817 7/2/2025 500 16.5000 7/2/2025 240 16.5100 7/1/2025 10,000 16.1085 6/30/2025 10,000 14.6035 6/30/2025 6,700 14.6403 6/27/2025 3,000 13.9000 6/27/2025 150 14.1465 6/27/2025 6,250 14.3382 6/27/2025 400 14.3500 6/26/2025 300 13.7700 6/26/2025 -300 13.8282 6/26/2025 6,100 13.8370 6/25/2025 200 13.8197 6/25/2025 500 13.9600 6/24/2025 1,400 14.5500 6/23/2025 350 14.0000 6/23/2025 4,200 14.3107 6/23/2025 1,500 14.3188 6/23/2025 3,000 14.3250 6/23/2025 5,100 14.4151 6/23/2025 -200 14.7864 6/20/2025 1,500 14.0400 6/20/2025 500 14.0648 6/20/2025 6,200 14.1579 6/20/2025 800 14.2012 6/18/2025 500 14.3402 6/17/2025 4,000 14.5256 6/17/2025 1,500 14.5957 6/16/2025 1,900 14.7153 6/13/2025 500 14.6500 6/13/2025 2,600 15.1256 6/12/2025 2,200 15.5435 6/12/2025 500 15.5754 6/12/2025 1,000 15.6644 6/11/2025 4,200 15.8839 6/11/2025 400 15.9165 6/11/2025 5,000 16.1760 6/11/2025 7,000 16.1863 6/11/2025 500 16.2000 6/10/2025 4,100 16.8016 6/10/2025 600 16.8900 6/10/2025 -200 17.0500 6/9/2025 500 17.1850 6/9/2025 1,200 17.3067 6/6/2025 300 15.9991 6/5/2025 1,600 15.8733 6/4/2025 -500 15.9203 6/4/2025 4,800 15.9470 6/4/2025 2,000 15.9781 6/3/2025 1,500 15.4000 6/2/2025 4,600 15.2061 5/30/2025 300 16.0498 MJG ASSOCIATES, INC. GABELLI INTERNATIONAL LIMITED 7/30/2025 3,000 13.6992 GABELLI PERFORMANCE PARTNERS 7/15/2025 -3,000 15.3190 6/12/2025 3,000 15.5541 GABELLI FUND, LDC 6/9/2025 400 17.3145 MARIO J. GABELLI 7/1/2025 200 15.0103 6/9/2025 200 16.5100 TETON ADVISORS, INC. 7/16/2025 3,000 14.7625 7/11/2025 5,000 16.0473 The investment advisory clients of, or partnerships managed by, GAMCO, Gabelli Funds, Teton Advisors and MJG Associates have the sole right to receive and, subject to the notice, withdrawal and/or termination provisions of such advisory contracts and partnership arrangements, the sole power to direct the receipt of dividends from, and the proceeds of sale of, any of the Securities beneficially owned by such Reporting Persons on behalf of such clients or partnerships. Except as noted, no such client or partnership has an interest by virtue of such relationship that relates to more than 5% of the Securities. Not applicable. The powers of disposition and voting of Gabelli Funds, Teton Advisors, GAMCO, GCIA and MJG Associates with respect to Securities owned beneficially by them on behalf of their investment advisory clients, and of MJG Associates and GCIA with respect to Securities owned beneficially by them on behalf of the partnerships or corporations which they directly or indirectly manage, are held pursuant to written agreements with such clients, partnerships and funds. GAMCO INVESTORS, INC. ET AL PETER D. GOLDSTEIN GENERAL COUNSEL 08/01/2025 GABELLI FUNDS LLC DAVID GOLDMAN GENERAL COUNSEL 08/01/2025 GAMCO Asset Management Inc. DOUGLAS R. JAMIESON PRESIDENT 08/01/2025 GABELLI FOUNDATION, INC. DAVID GOLDMAN ATTORNEY-IN-FACT 08/01/2025 MJG ASSOCIATES, INC. DAVID GOLDMAN ATTORNEY-IN-FACT 08/01/2025 Teton Advisors, Inc. DAVID GOLDMAN COUNSEL 08/01/2025 GGCP, INC. DAVID GOLDMAN ATTORNEY-IN-FACT 08/01/2025 Associated Capital Group, Inc. PETER D. GOLDSTEIN CHIEF LEGAL OFFICER 08/01/2025 GABELLI MARIO J DAVID GOLDMAN ATTORNEY-IN-FACT 08/01/2025