diff --git a/hibernate-core/src/main/java/org/hibernate/sql/results/graph/embeddable/internal/EmbeddableAssembler.java b/hibernate-core/src/main/java/org/hibernate/sql/results/graph/embeddable/internal/EmbeddableAssembler.java
index fc4131f01f85..da4959b2405f 100644
--- a/hibernate-core/src/main/java/org/hibernate/sql/results/graph/embeddable/internal/EmbeddableAssembler.java
+++ b/hibernate-core/src/main/java/org/hibernate/sql/results/graph/embeddable/internal/EmbeddableAssembler.java
@@ -34,6 +34,9 @@ public JavaType getAssembledJavaType() {
 	public Object assemble(RowProcessingState rowProcessingState) {
 		final InitializerData data = initializer.getData( rowProcessingState );
 		final Initializer.State state = data.getState();
+		if ( state == Initializer.State.UNINITIALIZED ) {
+			initializer.resolveKey( data );
+		}
 		if ( state == Initializer.State.KEY_RESOLVED ) {
 			initializer.resolveInstance( data );
 		}
diff --git a/hibernate-core/src/test/java/org/hibernate/orm/test/notfound/CompositeForeignKeyNotFoundTest.java b/hibernate-core/src/test/java/org/hibernate/orm/test/notfound/CompositeForeignKeyNotFoundTest.java
new file mode 100644
index 000000000000..27fe7a028481
--- /dev/null
+++ b/hibernate-core/src/test/java/org/hibernate/orm/test/notfound/CompositeForeignKeyNotFoundTest.java
@@ -0,0 +1,144 @@
+/*
+ * SPDX-License-Identifier: Apache-2.0
+ * Copyright Red Hat Inc. and Hibernate Authors
+ */
+package org.hibernate.orm.test.notfound;
+
+import jakarta.persistence.Entity;
+import jakarta.persistence.GeneratedValue;
+import jakarta.persistence.Id;
+import jakarta.persistence.JoinColumn;
+import jakarta.persistence.ManyToOne;
+import org.hibernate.FetchNotFoundException;
+import org.hibernate.annotations.JoinColumnOrFormula;
+import org.hibernate.annotations.JoinFormula;
+import org.hibernate.annotations.NotFound;
+import org.hibernate.annotations.NotFoundAction;
+import org.hibernate.query.Query;
+import org.hibernate.testing.orm.junit.DomainModel;
+import org.hibernate.testing.orm.junit.JiraKey;
+import org.hibernate.testing.orm.junit.SessionFactory;
+import org.hibernate.testing.orm.junit.SessionFactoryScope;
+import org.junit.jupiter.api.Test;
+
+import static org.junit.jupiter.api.Assertions.assertEquals;
+import static org.junit.jupiter.api.Assertions.assertNotNull;
+import static org.junit.jupiter.api.Assertions.assertNull;
+import static org.junit.jupiter.api.Assertions.assertThrows;
+
+@JiraKey(value = "HHH-18891")
+@DomainModel(
+		annotatedClasses = {CompositeForeignKeyNotFoundTest.Document.class, CompositeForeignKeyNotFoundTest.DocumentIgnore.class,
+				CompositeForeignKeyNotFoundTest.DocumentException.class, CompositeForeignKeyNotFoundTest.Person.class})
+@SessionFactory
+public class CompositeForeignKeyNotFoundTest {
+
+	@Test
+	void hhh18891TestWithNotFoundIgnore(SessionFactoryScope scope) {
+
+		// prepare document
+		scope.inTransaction( session -> {
+			Query nativeQuery = session.createNativeQuery(
+					"insert into DocumentIgnore (id,owner) values (123,42)" );
+			nativeQuery.executeUpdate();
+		} );
+
+		// assert document
+		scope.inTransaction( session -> {
+			final DocumentIgnore document = session.find( DocumentIgnore.class, 123 );
+			assertNotNull( document );
+			assertEquals( 123, document.id );
+			assertNull( document.owner );
+		} );
+	}
+
+	@Test
+	void hhh18891TestWithNotFoundException(SessionFactoryScope scope) {
+
+		// prepare document
+		scope.inTransaction( session -> {
+			Query nativeQuery = session.createNativeQuery(
+					"insert into DocumentException (id,owner) values (123,42)" );
+			nativeQuery.executeUpdate();
+		} );
+
+		// assert document
+		scope.inTransaction( session -> {
+			assertThrows( FetchNotFoundException.class, () ->
+					session.find( DocumentException.class, 123 ) );
+		} );
+	}
+
+	@Test
+	void hhh18891TestWithoutNotFoundAnnotation(SessionFactoryScope scope) {
+
+		// prepare document
+		scope.inTransaction( session -> {
+			Query nativeQuery = session.createNativeQuery(
+					"insert into Document (id,owner) values (123,42)" );
+			nativeQuery.executeUpdate();
+		} );
+
+		// assert document
+		scope.inTransaction( session -> {
+			final Document document = session.find( Document.class, 123 );
+			assertNotNull( document );
+			assertEquals( 123, document.id );
+			assertNull( document.owner );
+		} );
+	}
+
+	@Entity(name = "DocumentIgnore")
+	public static class DocumentIgnore {
+
+		@Id
+		@GeneratedValue
+		Long id;
+
+		@ManyToOne
+		@NotFound(action = NotFoundAction.IGNORE)
+		@JoinColumnOrFormula(column = @JoinColumn(name = "owner", referencedColumnName = "id", insertable = false,
+				updatable = false))
+		@JoinColumnOrFormula(formula = @JoinFormula(value = "'fubar'", referencedColumnName = "name"))
+		Person owner;
+	}
+
+	@Entity(name = "DocumentException")
+	public static class DocumentException {
+
+		@Id
+		@GeneratedValue
+		Long id;
+
+		@ManyToOne
+		@NotFound(action = NotFoundAction.EXCEPTION)
+		@JoinColumnOrFormula(column = @JoinColumn(name = "owner", referencedColumnName = "id", insertable = false,
+				updatable = false))
+		@JoinColumnOrFormula(formula = @JoinFormula(value = "'fubar'", referencedColumnName = "name"))
+		Person owner;
+	}
+
+	@Entity(name = "Document")
+	public static class Document {
+
+		@Id
+		@GeneratedValue
+		Long id;
+
+		@ManyToOne
+		@JoinColumnOrFormula(column = @JoinColumn(name = "owner", referencedColumnName = "id", insertable = false,
+				updatable = false))
+		@JoinColumnOrFormula(formula = @JoinFormula(value = "'fubar'", referencedColumnName = "name"))
+		Person owner;
+	}
+
+	@Entity(name = "Person")
+	public static class Person {
+
+		@Id
+		Long id;
+
+		String name;
+	}
+
+}