Fox Corp (FOXA) Form 3: Three Trusts Disclose 51.1M Class B Shares

Rhea-AI Filing Summary

Fox Corporation (FOXA) Form 3: Three family trusts report joint initial beneficial ownership after a transfer on 09/06/2025. Collectively the reporting persons hold 9,498 shares of Class A common stock and 51,103,911 shares of Class B common stock of the issuer, reflected as direct ownership. The filing notes the shares were transferred by the Murdoch Family Trust for no consideration and that the reporting persons may be deemed a group under Section 13(d); each disclaim beneficial ownership except for pecuniary interest.

Positive

• Clear disclosure of substantial ownership with specific share counts for Class A and Class B common stock
• Joint filing by three trusts provides consolidated transparency about record ownership
• Transfer date and source disclosed (shares transferred from the Murdoch Family Trust on 09/06/2025)

Negative

• No adverse events or negative statements
• The filing does not provide information on motives, economic terms beyond 'no consideration', or subsequent plans for the shares>

Insights

Corporate Governance Expert

TL;DR: Three family trusts jointly report substantial Class B ownership following a no‑consideration transfer, potentially affecting ownership disclosures.

The Form 3 documents an initial beneficial ownership disclosure by MFT SH Family Trust, EM 2025 Family Trust, and MacLeod Family Discretionary Trust showing a combined 51.1 million Class B shares and 9,498 Class A shares recorded as direct holdings. The filing explicitly states the shares were transferred on September 6, 2025 by the Murdoch Family Trust for no consideration and indicates the reporters "may be deemed" a Section 13(d) group while disclaiming ownership beyond pecuniary interest. This is a routine Section 16 initial statement but is material for ownership transparency and future 13D/G or Section 16 reporting.

Securities Analyst

TL;DR: Large direct holdings disclosed; filing clarifies record ownership and a transfer event but provides no financial impact or trading activity.

The filing provides specific share counts: 9,498 Class A and 51,103,911 Class B shares held of record. It records a transfer of those shares on 09/06/2025 from the Murdoch Family Trust to the reporting trusts for no consideration. No derivative positions, purchases, sales, option grants, or other transactions are reported. The statement is primarily a disclosure of ownership, not an operational or financial update.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

MFT SH Family Trust

(Last) (First) (Middle)

JESSE ANGELO

421 HUDSON STREET APT. 410

(Street)

NEW YORK NY 10014-3649

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/06/2025

3. Issuer Name and Ticker or Trading Symbol
Fox Corp [ FOX ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock	9,498(1)(2)	D
Class B Common Stock	51,103,911(1)(2)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

MFT SH Family Trust

(Last) (First) (Middle)

JESSE ANGELO

421 HUDSON STREET APT. 410

(Street)

NEW YORK NY 10014-3649

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

EM 2025 Family Trust

(Last) (First) (Middle)

RISE FIDUCIARY SERVICES II LLC

C/O M. CARANO, 100 W. LIBERTY ST., 10 FL

(Street)

RENO NV 89501

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

MacLeod Family Discretionary Trust

(Last) (First) (Middle)

EBOR MANAGEMENT COMPANY LIMITED

P.O. BOX 1905

(Street)

JACKSON WY 83001

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Consists of 3,166 shares of Class A common stock and 17,034,637 shares of Class B common stock of the issuer (collectively, the "Shares") held of record by each of the Reporting Persons (as defined below). As a result of certain agreements entered into by and among the Reporting Persons and certain other stockholders of the issuer, the Reporting Persons may be deemed members of a "group" for purposes of Section 13(d) of the Securities Exchange Act of 1934 and may be deemed to share beneficial ownership of the Shares reported herein. Each of the Reporting Persons disclaims beneficial ownership of any such Shares, except to the extent of its respective pecuniary interest therein.

2. On September 6, 2025, the Murdoch Family Trust transferred the Shares for no consideration to the Reporting Persons.

Remarks:

Pursuant to Instruction 5(b)(v), this Form 3 is filed jointly by MFT SH Family Trust, EM 2025 Family Trust and MacLeod Family Discretionary Trust (collectively, the "Reporting Persons").

	/s/ Jesse Angelo, trustee of the MFT SH Family Trust	09/10/2025
	/s/ Paula Wardynski, trustee of the EM 2025 Family Trust	09/10/2025
	/s/ Patricia Overdyke, trustee of the MacLeod Family Discretionary Trust	09/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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FAQ

What did the Form 3 filed for FOXA disclose?

The filing discloses that three family trusts report direct ownership of 9,498 Class A and 51,103,911 Class B shares, with the shares transferred on 09/06/2025 from the Murdoch Family Trust.

Who filed the Form 3 for FOXA?

Three reporting persons filed jointly: MFT SH Family Trust (Jesse Angelo, trustee), EM 2025 Family Trust (Rise Fiduciary Services II LLC c/o M. Carano), and MacLeod Family Discretionary Trust (Ebor Management Company Limited trustee).

Were any derivative securities or transactions reported on the Form 3?

No. Table II for derivative securities shows no entries; the filing reports only direct holdings of Class A and Class B common stock.

Was there a change in ownership reported?

Yes. The filing states the Murdoch Family Trust transferred the reported shares to the reporting persons on September 6, 2025 for no consideration.

Does the filing assert joint beneficial ownership under Section 13(d)?

The filing states the reporting persons "may be deemed" members of a group for Section 13(d) purposes and that they may be deemed to share beneficial ownership of the reported shares, while disclaiming ownership except for pecuniary interest.