SCHEDULE: Kanen Wealth Management Boosts Outdoor Holding Co Stake

Kanen Wealth Management and affiliates report a combined 9.82% beneficial ownership in Outdoor Holding Co, totaling 11,494,006 shares.

Summary

• Philotimo Fund, LP beneficially owns 7,093,949 shares, representing approximately 6.06% of Outdoor Holding Co's outstanding Common Stock.
• Philotimo Focused Growth & Income Fund beneficially owns 4,000,000 shares, representing approximately 3.42% of the outstanding Common Stock.
• Kanen Wealth Management LLC (KWM) beneficially owns 11,494,006 shares, which includes shares held by Philotimo Fund, PHLOX, and separately managed accounts, totaling approximately 9.82% of the outstanding Common Stock.
• David L. Kanen, as managing member of KWM, also beneficially owns 11,494,006 shares, representing approximately 9.82% of the outstanding Common Stock.
• The Reporting Persons (Philotimo Fund, PHLOX, KWM, and David L. Kanen) form a group that collectively beneficially owns 11,494,006 shares, constituting approximately 9.81% of the outstanding shares.
• The aggregate percentage of shares owned is based on 117,110,827 shares outstanding as of August 6, 2025, as reported in the Issuer's Form 10-Q.

Sentiment

Score: 5

Explanation: The filing is a standard beneficial ownership disclosure (Schedule 13G) and does not inherently convey positive or negative sentiment regarding the issuer's performance or prospects. The disclaimed intent to influence control maintains a neutral stance.

Risks

• The Reporting Persons certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Future Outlook

NA

Management Comments

• David L. Kanen, on behalf of the Reporting Persons, certified that, to the best of his knowledge and belief, the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

NA

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake (9.82%) by Kanen Wealth Management and its affiliates may be viewed by other investors as a signal of institutional confidence or interest in Outdoor Holding Co, potentially influencing investor sentiment and trading activity.

Key Dates

Keywords

Outdoor Holding Co, Kanen Wealth Management, Philotimo Fund, Beneficial Ownership, Schedule 13G, Institutional Investor, Common Stock, Investment Management