SCHEDULE: Camping World Insiders Maintain 34.8% Stake
Beneficial Ownership Amendment
Marcus Lemonis and affiliated entities report continued significant beneficial ownership in Camping World Holdings, Inc. through an amended Schedule 13G filing.
Summary
- CWGS Holding, LLC, ML Acquisition Company, LLC, and Marcus Lemonis collectively report beneficial ownership of Camping World Holdings, Inc. Class A Common Stock.
- Marcus Lemonis, through his direct holdings and control over ML Acquisition Company, LLC and its subsidiary CWGS Holding, LLC, beneficially owns 33,235,716 shares.
- This represents 34.8% of the Class A Common Stock, calculated based on 62,819,556 shares outstanding as of October 24, 2025.
- The reported ownership includes 32,584,700 Common LLC Units held by CWGS Holding, LLC, which are redeemable for Class A Common Stock on a one-for-one basis.
- Marcus Lemonis also directly holds 651,016 shares of Class A Common Stock.
- This filing is Amendment No. 9 to a previously filed Schedule 13G, indicating an ongoing reporting requirement for a significant shareholder.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a routine regulatory update reflecting a stable, significant insider ownership stake, which is neither inherently positive nor negative for immediate stock performance.
Future Outlook
NA
Industry Context
StockSavvy.ai notes that Camping World Holdings, Inc. operates in the recreational vehicle (RV) and outdoor lifestyle market. The continued significant ownership by Marcus Lemonis, a prominent figure in the RV industry and CEO of Camping World, reinforces strong insider alignment with the company's performance and strategic direction within a competitive and cyclical industry.
Related Party Transactions
- CWGS Holding, LLC is a wholly-owned subsidiary of ML Acquisition Company, LLC.
- Marcus Lemonis is the sole director of ML Acquisition Company, LLC.
- This structure indicates that the beneficial ownership reported by CWGS Holding, LLC and ML Acquisition Company, LLC is ultimately controlled by Marcus Lemonis, establishing a clear related-party relationship in the ownership structure.
Stakeholder Impact
- Shareholders: The significant insider ownership by Marcus Lemonis and his affiliated entities (34.8%) suggests strong alignment between management and shareholder interests, potentially fostering long-term strategic stability.
Key Dates
| Date | Description |
|---|---|
| 2017-02-10 | Date of original Joint Filing Agreement referenced in Exhibit 99. |
| 2025-02-12 | Date of Power of Attorney referenced in Exhibit 24. |
| 2025-10-24 | Date for which 62,819,556 shares of Class A Common Stock were outstanding, as reported in the Issuer's 10-Q. |
| 2025-10-30 | Date of filing of the Issuer's Quarterly Report on Form 10-Q with the SEC. |
| 2025-12-31 | Date of event which requires filing of this statement (reporting period end date). |
| 2026-02-13 | Date of signing of this Schedule 13G Amendment No. 9. |
Recommendation
holdThis Schedule 13G filing is a routine update on beneficial ownership and does not contain new information regarding the company's financial performance, strategic direction, or operational changes that would warrant a change in investment recommendation. The continued significant insider ownership by Marcus Lemonis is a known factor and generally indicates long-term commitment, but it does not provide a catalyst for a 'buy' or 'sell' decision based solely on this filing.
Keywords
Camping World Holdings, CWGS Holding, ML Acquisition Company, Marcus Lemonis, Schedule 13G, Beneficial Ownership, Class A Common Stock, Insider Ownership, SEC Filing, RV Industry
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