Forager discloses 6% MasterCraft Boat stake after merger share issue (MCFT)

Rhea-AI Filing Summary

Forager Fund, L.P. and related parties report a 6.0% beneficial ownership stake in MasterCraft Boat Holdings, Inc. common stock. The group, including Forager Capital Management, LLC, and individuals Edward Kissel and Robert MacArthur, collectively beneficially owns 1,451,074 shares of common stock.

The ownership percentage is calculated using 16,279,890 MasterCraft shares outstanding as of May 1, 2026 plus 8,088,387 shares being issued as merger consideration in the acquisition of Marine Product Corporation. Forager Fund and its general partner hold sole voting and dispositive power over the 1,451,074 shares, while Messrs. Kissel and MacArthur share voting and dispositive power over the same amount.

Key Figures

Beneficial ownership: 1,451,074 shares Percent of class: 6.0% Shares outstanding baseline: 16,279,890 shares +3 more

6 metrics

Beneficial ownership 1,451,074 shares Shares of MasterCraft Boat common stock beneficially owned in aggregate by the reporting persons

Percent of class 6.0% Beneficial ownership percentage of MasterCraft Boat common stock

Shares outstanding baseline 16,279,890 shares Common shares issued and outstanding as of May 1, 2026, from Form 10-Q

Merger consideration shares 8,088,387 shares Common shares being issued in the acquisition of Marine Product Corporation

Sole voting power 1,451,074 shares Shares over which Forager Fund and its general partner have sole voting power

Shared voting power 1,451,074 shares Shares over which Messrs. Kissel and MacArthur have shared voting power

Key Terms

beneficially own, sole voting power, dispositive power, merger consideration, +1 more

5 terms

beneficially own financial

"The Reporting Persons, in the aggregate, beneficially own 1,451,074 shares of common stock"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

sole voting power financial

"Each of the Fund and the General Partner has the sole power to vote or to direct the vote"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

dispositive power financial

"sole power to dispose or to direct the disposition of 1,451,074 shares of Common Stock"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

merger consideration financial

"8,088,387 shares of Common Stock being issued as merger consideration in connection with the acquisition"

Merger consideration is the total payment a company or buyer offers to shareholders of a target company in exchange for combining the two businesses, and can include cash, shares in the surviving company, debt assumption, or a mix of these. Investors care because the form and amount affect the deal’s value, tax consequences, immediate cash received versus future ownership, and the risk and upside of holding new shares — similar to choosing between cash now or stock that could grow later.

Schedule 13G/A regulatory

"This updates the SC 13G/A filed by the Reporting Persons on July 23, 2026"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/06/2026 - 04:48 PM Accepted by SEC EDGAR 08/06/2026 - 04:47 PM Learn about SEC filing dates

FAQ

What ownership stake in MCFT does Forager Fund report in this Schedule 13G/A?

Forager Fund and related reporting persons report 6.0% beneficial ownership of MasterCraft Boat Holdings (MCFT). This corresponds to 1,451,074 shares of common stock, based on a share count that includes outstanding stock plus shares issued as merger consideration.

How many MCFT shares does Forager Fund beneficially own according to this filing?

The reporting group beneficially owns 1,451,074 shares of MasterCraft Boat common stock. This position underlies their reported 6.0% stake and is held with varying combinations of sole and shared voting and dispositive power among the reporting persons.

How is the 6.0% ownership in MCFT calculated in this Schedule 13G/A?

The 6.0% stake is calculated using (i) 16,279,890 shares outstanding as of May 1, 2026 and (ii) 8,088,387 shares being issued as merger consideration in the acquisition of Marine Product Corporation, as disclosed in MasterCraft’s Form 10-Q and Form 8-K.

Who are the reporting persons for the MCFT Schedule 13G/A amendment?

The reporting persons are Forager Fund, L.P., Forager Capital Management, LLC (its general partner), and individuals Edward Kissel and Robert MacArthur. They file jointly regarding their beneficial ownership of MasterCraft Boat Holdings (MCFT) common stock.

What voting power over MCFT shares does Forager Fund have in this disclosure?

Forager Fund and Forager Capital Management, LLC each have sole voting power over 1,451,074 shares and no shared voting power. Messrs. Kissel and MacArthur have shared voting power over 1,451,074 shares and no sole voting power, mirroring their shared dispositive powers.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

MasterCraft Boat Holdings, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

Forager Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,451,074.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,451,074.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,451,074.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

Forager Fund, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,451,074.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,451,074.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,451,074.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

Kissel Edward Urban

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,451,074.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,451,074.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,451,074.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.0 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

MacArthur Robert Symmes

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,451,074.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,451,074.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,451,074.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.0 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: MasterCraft Boat Holdings, Inc.
(b)	Address of issuer's principal executive offices: 100 Cherokee Cove Drive Vonore, TN, 37885
Item 2.
(a)	Name of person filing: This joint statement on Schedule 13G/A is being filed by Forager Fund, L.P., a Delaware limited partnership (the "Fund"), Forager Capital Management, LLC, a Delaware limited liability company and the general partner of the Fund (the "General Partner"), Edward Kissel and Robert MacArthur (collectively, the "Reporting Persons").
(b)	Address or principal business office or, if none, residence: The business address of each of the Reporting Persons is 2025 3rd Ave. N, Suite 350, Birmingham, AL 35203.
(c)	Citizenship: The Fund is a Delaware limited partnership. The General Partner is a Delaware limited liability company. Each of Messrs. Kissel and MacArthur is a citizen of the United States.
(d)	Title of class of securities: Common Stock, par value $0.01 per share
(e)	CUSIP No.:
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The Reporting Persons, in the aggregate, beneficially own 1,451,074 shares of common stock, par value $0.01 per share, of the Issuer ("Common Stock").
(b)	Percent of class: 6.0%. The percentages of beneficial ownership reported herein, and on each Reporting Person's cover page to this Schedule 13G/A, are based on a total of (i) 16,279,890 shares of Common Stock issued and outstanding as of May 1, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for its quarterly period ended March 29, 2026, filed with the Securities and Exchange Commission (the "SEC") on May 7, 2026 and (ii) 8,088,387 shares of Common Stock being issued as merger consideration in connection with the acquisition of Marine Product Corporation, as reported in Exhibit 99.3 of the Issuer's Current Report on Form 8-K filed on June 12, 2026. This updates the SC 13G/A filed by the Reporting Persons on July 23, 2026.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Each of the Fund and the General Partner has the sole power to vote or to direct the vote of 1,451,074 shares of Common Stock. Each of Messrs. Kissel and MacArthur has the sole power to vote or to direct the vote of 0 shares of Common Stock.
	(ii) Shared power to vote or to direct the vote: Each of the Fund and the General Partner has the shared power to vote or to direct the vote of 0 shares of Common Stock. Each of Messrs. Kissel and MacArthur has the shared power to vote or to direct the vote of 1,451,074 shares of Common Stock.
	(iii) Sole power to dispose or to direct the disposition of: Each of the Fund and the General Partner has the sole power to dispose or to direct the disposition of 1,451,074 shares of Common Stock. Each of Messrs. Kissel and MacArthur has the sole power to dispose or to direct the disposition of 0 shares of Common Stock.
	(iv) Shared power to dispose or to direct the disposition of: Each of the Fund and the General Partner has the shared power to dispose or to direct the disposition of 0 shares of Common Stock. Each of Messrs. Kissel and MacArthur has the shared power to dispose or to direct the disposition of 1,451,074 shares of Common Stock.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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 and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Forager Capital Management, LLC

Signature:	/s/ Robert MacArthur
Name/Title:	Managing Partner
Date:	08/06/2026

Forager Fund, L.P.

Signature:	/s/ Robert MacArthur
Name/Title:	Managing Partner of the sole general partner
Date:	08/06/2026

Kissel Edward Urban

Signature:	/s/ Edward Kissel
Name/Title:	Director
Date:	08/06/2026

MacArthur Robert Symmes

Signature:	/s/ Robert MacArthur
Name/Title:	Managing Partner
Date:	08/06/2026

Exhibit Information

Power of Attorney, dated November 10, 2025, by Edward Kissel, incorporated by reference to Exhibit 24.1 of the Form 4 filed by the reporting persons with the Securities and Exchange Commission on November 10, 2025 (https://www.sec.gov/Archives/edgar/data/1539281/000110465925109437/tm2530806d1_ex24-1.htm) Power of Attorney, dated November 10, 2025, by Edward Kissel, incorporated by reference to Exhibit 24.2 of the Form 4 filed by the reporting persons with the Securities and Exchange Commission on November 10, 2025 (https://www.sec.gov/Archives/edgar/data/1539281/000110465925109437/tm2530806d1_ex24-2.htm) Joint filing Agreement, dated July 23, 2026, by and among the reporting persons, incorporated by reference to Exhibit 99.1 of the SC 13G/A filed by the Reporting Persons with the Securities and Exchange Commission on July 23, 2026 (https://www.sec.gov/Archives/edgar/data/1802986/000110465926086203/xslSCHEDULE_13G_X02/primary_doc.xml)