SCHEDULE: RWWM Discloses 6.15% Stake in Fox Factory Holding

RWWM, Inc. and affiliated entities have filed an amended Schedule 13G, disclosing a 6.15% beneficial ownership stake in Fox Factory Holding Corp. as of September 30, 2025.

Summary

• RWWM, Inc., an investment adviser, along with its 401k Profit Sharing Plan, Scott P. Roseman, and Aaron J. Wagner, collectively reported beneficial ownership of 2,569,434 shares of Fox Factory Holding Corp. common stock.
• This aggregate ownership represents 6.15% of the company's outstanding common stock.
• RWWM, Inc. holds sole dispositive power over 2,569,434 shares.
• Scott P. Roseman and Aaron J. Wagner share dispositive power over 2,569,434 shares.
• Aaron J. Wagner holds sole voting power over 6,117 shares.
• Shared voting power over 29,646 shares is attributed to RWWM Inc. 401k Profit Sharing Plan, Scott P. Roseman, and Aaron J. Wagner.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 7

Explanation: The disclosure of a 6.15% beneficial ownership by an investment adviser and its principals, explicitly stating a passive investment intent, generally signals confidence in the issuer's value and prospects without implying immediate disruptive changes.

Positives

• A significant beneficial ownership stake of 6.15% by an investment adviser and its principals may signal confidence in Fox Factory Holding Corp.'s long-term prospects.
• The filing explicitly states the securities were acquired and are held in the ordinary course of business, indicating a passive investment rather than an activist intent to disrupt management.

Risks

• The concentration of a 6.15% stake by a single investment group could potentially influence future corporate actions, even if currently stated as passive.
• Future changes in the reporting persons' investment strategy could lead to significant buying or selling pressure on the stock.

Future Outlook

NA

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.
• No such client [of RWWM, Inc.] is known to have such right or power with respect to more than five percent of this class of securities.

Industry Context

NA

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake may instill confidence and potentially attract further institutional interest, potentially supporting share price stability.
• Management: The passive nature of the investment, as certified, suggests no immediate challenge to current management or strategic direction.

Key Dates

Recommendation

This filing is a disclosure of beneficial ownership, not an operational or financial performance report. The 6.15% stake by RWWM, Inc. and its affiliates is a significant, passive investment, which generally indicates a long-term positive view on the company. However, without additional financial or operational data from the issuer, a definitive 'buy' or 'sell' recommendation cannot be made solely on this ownership disclosure. A 'hold' recommendation is appropriate as it signals a stable, significant institutional interest without providing new fundamental performance data to alter an existing investment thesis.

Keywords

Fox Factory Holding Corp, FOXF, RWWM Inc, Schedule 13G, beneficial ownership, investment adviser, common stock, equity stake, institutional ownership