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This is the round butt frame, also any other post-1996 manufacture 686 should be round butt as well.

Charles, round and round she goes, where she stops. now you know. Cheers and stay safe Sir!

all new S&W revolvers are round but Smith has grips for the round butts that feel like the square butt

It's a round butt frame but you can get square butt grip conversions for it. " VZ Grips" makes several really nice grips in both round and square made from G10 composite that look beautiful on this gun.. I have the black/black squares on my 686 and they work great. Nice guns.