[SCHEDULE 13G/A] MasterCraft Boat Holdings, Inc. Amended Passive Investment Disclosure
MasterCraft holder reports 8.9% ownership stake
MasterCraft Boat Holdings, Inc. has a large shareholder group led by Forager Fund, L.P., Forager Capital Management, LLC, and individuals Edward Kissel and Robert MacArthur, which jointly report beneficial ownership of 1,451,074 shares of common stock.
MasterCraft Boat Holdings, Inc. has a large shareholder group led by Forager Fund, L.P., Forager Capital Management, LLC, and individuals Edward Kissel and Robert MacArthur, which jointly report beneficial ownership of 1,451,074 shares of common stock. This represents 8.9% of the outstanding common stock, based on 16,279,890 shares outstanding as of May 1, 2026. The Fund and its general partner hold sole voting and dispositive power over these shares, while Messrs. Kissel and MacArthur share voting and dispositive power over the same block. The filing is Amendment No. 3 to their Schedule 13G/A, reflecting their current ownership and control structure.
Positive
None.
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Key Figures
Shares beneficially owned:1,451,074 sharesOwnership percentage:8.9%Shares outstanding baseline:16,279,890 shares+2 more
5 metrics
Shares beneficially owned1,451,074 sharesBeneficial ownership of MasterCraft common stock reported by the Forager group
Ownership percentage8.9%Percent of MasterCraft common stock class held by the reporting persons
Shares outstanding baseline16,279,890 sharesMasterCraft common shares outstanding as of May 1, 2026, from Form 10-Q
Sole voting power1,451,074 sharesShares over which Forager Fund and its general partner have sole voting power
Shared voting power (individuals)1,451,074 sharesShares over which Messrs. Kissel and MacArthur have shared voting power
Key Terms
Schedule 13G/A, beneficially own, sole voting power, shared dispositive power, +1 more
5 terms
Schedule 13G/Aregulatory
"This joint statement on /A is being filed by Forager Fund, L.P."
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.
beneficially ownfinancial
"The Reporting Persons, in the aggregate, beneficially own 1,451,074 shares"
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 powerfinancial
"has the sole power to vote or to direct the vote of 1,451,074 shares"
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.
shared dispositive powerfinancial
"has the shared power to dispose or to direct the disposition of 1,451,074 shares"
dispositive powerfinancial
"sole power to dispose or to direct the disposition of 1,451,074 shares"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many MCFT shares do the Forager reporting persons beneficially own?
The reporting persons beneficially own 1,451,074 shares of MasterCraft Boat Holdings, Inc. common stock. This block is held through Forager Fund, L.P. and its general partner, with shared powers attributed to Edward Kissel and Robert MacArthur.
What percentage of MasterCraft (MCFT) does the Forager group own?
The Forager reporting group owns 8.9% of MasterCraft’s common stock. This percentage is calculated using 16,279,890 shares outstanding as of May 1, 2026, as referenced from MasterCraft’s Form 10-Q.
Who are the reporting persons in this Schedule 13G/A for MCFT?
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 ownership of MasterCraft’s common stock.
What voting power does the Forager Fund have over MCFT shares?
Forager Fund, L.P. and Forager Capital Management, LLC each have sole voting power over 1,451,074 shares of MasterCraft common stock. Kissel and MacArthur have shared voting power over the same 1,451,074 shares.
What dispositive power do the reporting persons have over MCFT stock?
Forager Fund, L.P. and its general partner each have sole dispositive power over 1,451,074 shares of MasterCraft. Edward Kissel and Robert MacArthur have shared dispositive power over those same 1,451,074 shares.
What is the reference date and share count used to calculate MCFT ownership?
The ownership percentage is based on 16,279,890 shares of MasterCraft common stock outstanding as of May 1, 2026. This figure comes from MasterCraft’s Form 10-Q for the quarter ended March 29, 2026.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
MasterCraft Boat Holdings, Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
57637H103
(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 Number(s):
57637H103
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)
8.9 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
57637H103
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)
8.9 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
57637H103
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)
8.9 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
CUSIP Number(s):
57637H103
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)
8.9 %
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.:
57637H103
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:
8.9%. 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 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.
(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:
07/23/2026
Forager Fund, L.P.
Signature:
/s/ Robert MacArthur
Name/Title:
Managing Partner of the sole general partner
Date:
07/23/2026
Kissel Edward Urban
Signature:
/s/ Edward Kissel
Name/Title:
Director
Date:
07/23/2026
MacArthur Robert Symmes
Signature:
/s/ Robert MacArthur
Name/Title:
Managing Partner
Date:
07/23/2026
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)
Exhibit 99.1 Joint Filing Agreement, dated July 23, 2026, by and among the reporting persons
