Philotimo Group Discloses 7.4% Stake in Outdoor Holding Co (POWWP)

This Schedule 13G/A reports that a group of related reporting persons collectively beneficially own 8,692,000 shares of Outdoor Holding Co common stock, representing approximately 7.4% of the 117,110,797 shares outstanding as of June 30, 2025.

Rhea-AI Filing Summary

This Schedule 13G/A reports that a group of related reporting persons collectively beneficially own 8,692,000 shares of Outdoor Holding Co common stock, representing approximately 7.4% of the 117,110,797 shares outstanding as of June 30, 2025. Ownership is allocated as 5,350,000 shares owned by Philotimo Fund, LP (about 4.6%) and 3,300,000 shares owned by Philotimo Focused Growth & Income Fund (about 2.8%). Kanen Wealth Management, LLC and David L. Kanen are reported as having shared voting and dispositive power over the aggregate 8,692,000 shares by virtue of their roles as general partner, investment manager and managing member. The filing disclaims beneficial ownership of shares not directly owned and includes a certification regarding the reported purpose of the holdings.

Positive

• Reporting group beneficially owns 8,692,000 shares (approximately 7.4% of outstanding shares)
• Clear breakdown of ownership by entity: Philotimo 5,350,000 (4.6%), PHLOX 3,300,000 (2.8%)
• Disclosure identifies relationships and reasons for aggregated beneficial ownership (general partner, investment manager, managing member)
• Includes standard certification disclaiming intent to change or influence control

Negative

• None.

Insights

Financial Analyst

TL;DR Reporting persons hold a material 7.4% stake, disclosed clearly; this is a notable ownership concentration but the filing shows no change-of-control intent.

The Schedule 13G/A documents that related investment vehicles and their manager together beneficially own 8,692,000 shares, or roughly 7.4% of Outdoor Holding Co. That level crosses common materiality thresholds used by investors and may influence shareholder dynamics, particularly if the group coordinates voting. The filing emphasizes shared voting and dispositive power rather than sole control and includes the standard disclaimer that ownership is limited to directly held shares. This disclosure increases transparency around a sizeable passive/collective stake without asserting activist intent.

Corporate Governance Expert

TL;DR Ownership is aggregated across affiliated entities and reported under group rules; no affirmative control action is declared.

The report identifies Philotimo Fund, PHLOX, Kanen Wealth Management and David Kanen as members of a Section 13(d)(3) group, aggregating their positions to 7.4% of the class. The filing follows disclosure norms by specifying shared voting and dispositive powers and disclaiming non-direct ownership. For governance purposes, shareholders and the board now have clarity on a concentrated ownership position that could matter for proxy voting or future corporate actions, though the document expressly disclaims any intent to influence control.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many Outdoor Holding Co (POWWP) shares do the reporting persons collectively own?

The reporting persons collectively beneficially own 8,692,000 shares, equal to approximately 7.4% of the 117,110,797 shares outstanding reported.

What is the ownership split among the reporting entities in the Schedule 13G/A?

Ownership is split as follows: Philotimo Fund, LP 5,350,000 shares (4.6%); Philotimo Focused Growth & Income Fund 3,300,000 shares (2.8%); Kanen Wealth Management and David Kanen are reported with shared beneficial ownership of the aggregate 8,692,000 shares.

Does the filing state the reporting persons intend to influence control of Outdoor Holding Co?

No. The filing includes a certification stating the securities were not acquired and are not held for the purpose of changing or influencing control and are not held in connection with any transaction having that purpose.

On what basis are Kanen Wealth Management and David Kanen deemed to beneficially own the shares?

KWM is the general partner of Philotimo and the investment manager of PHLOX and certain managed accounts; Mr. Kanen is the managing member of KWM, and thus they may be deemed to beneficially own the shares owned by those entities.

What percent of the company does Philotimo Fund, LP directly own?

Philotimo Fund, LP directly beneficially owns 5,350,000 shares, approximately 4.6% of the outstanding shares as reported.

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

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Accepted by SEC EDGAR 08/14/2025 - 04:20 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Outdoor Holding Co

(Name of Issuer)

Common Stock, $0.001 par value per share

(Title of Class of Securities)

00175J107

(CUSIP Number)

06/30/2025

(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)

SCHEDULE 13G

CUSIP No. 00175J107

1

Names of Reporting Persons

Philotimo Fund, LP

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 0.00
6	Shared Voting Power 5,350,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,350,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,350,000.00

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)

4.6 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 00175J107

1

Names of Reporting Persons

Philotimo Focused Growth & Income Fund

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 0.00
6	Shared Voting Power 3,300,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,300,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,300,000.00

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)

2.8 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 00175J107

1

Names of Reporting Persons

Kanen Wealth 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

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 8,692,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 8,692,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,692,000.00

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)

7.4 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 00175J107

1

Names of Reporting Persons

Kanen David

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 8,692,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 8,692,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,692,000.00

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)

7.4 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Outdoor Holding Co
(b)	Address of issuer's principal executive offices: 7681 E. Gray Rd., Scottsdale, Arizona 85260
Item 2.
(a)	Name of person filing: This statement is filed by Philotimo Fund LP, a Delaware limited partnership ("Philotimo"), Philotimo Focused Growth & Income Fund, a series of World Funds Trust, a Delaware statutory trust ("PHLOX"), Kanen Wealth Management, LLC, a Florida limited liability company ("KWM"), and David L. Kanen. Each of the foregoing is referred to as a "Reporting Person" and collectively as the "Reporting Persons." KWM is the general partner of Philotimo and the investment manager of PHLOX and certain separately managed accounts (the "Managed Accounts"). Mr. Kanen serves as the managing member of KWM. By virtue of these relationships, KWM and Mr. Kanen may be deemed to beneficially own the shares of Common Stock, $0.001 par value per share (the "Shares"), of Outdoor Holding Company (the "Issuer"), owned by each of Philotimo, PHLOX and the Managed Accounts.
(b)	Address or principal business office or, if none, residence: The principal business address of each of Philotimo, PHLOX, KWM and Mr. Kanen is 6810 Lyons Technology Circle, Suite 160, Coconut Creek, Florida 33073.
(c)	Citizenship: Philotimo is organized under the laws of the State of Delaware. PHLOX is a series of World Funds Trust, a statutory trust organized under the laws of the State of Delaware. KWM is organized under the laws of the State of Florida. Mr. Kanen is a citizen of the United States of America.
(d)	Title of class of securities: Common Stock, $0.001 par value per share
(e)	CUSIP No.: 00175J107
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: As of the close of business on June 30, 2025: (i) Philotimo beneficially owned 5,350,000 Shares; (ii) PHLOX beneficially owned 3,300,000 Shares; (iii) KWM beneficially owned 8,692,000 Shares, consisting of (a) the 5,350,000 Shares owned directly by Philotimo, which KWM may be deemed to beneficially own as the general partner of Philotimo, (b) the 3,300,000 Shares owned directly by PHLOX, which KWM may be deemed to beneficially own as the investment manager of PHLOX, and (c) the 42,000 Shares held in the Managed Accounts, which KWM may be deemed to beneficially own as the investment manager of the Managed Accounts; and (iv) Mr. Kanen beneficially owned 8,692,000 Shares, consisting of (a) the 5,350,000 Shares owned directly by Philotimo, which Mr. Kanen may be deemed to beneficially own as the managing member of KWM, (b) the 3,300,000 Shares owned directly by PHLOX, which Mr. Kanen may be deemed to beneficially own as the managing member of KWM, and (c) the 42,000 Shares held in the Managed Accounts, which Mr. Kanen may be deemed to beneficially own as the managing member of KWM. Each Reporting Person is a member of a "group" with the other Reporting Persons for the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, and such group may be deemed to beneficially own the 8,692,000 Shares beneficially owned in the aggregate by all the Reporting Persons, constituting approximately 7.4% of the outstanding Shares. Each Reporting Person disclaims beneficial ownership of the Shares that he or it does not directly own.
(b)	Percent of class: The aggregate percentage of the Shares reported owned by each person named herein is based upon 117,110,797 Shares outstanding as of June 30, 2025, which is the total number of Shares outstanding as reported in the Issuer's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on July 14, 2025. As of the close of business on June 30, 2025: (i) Philotimo beneficially owned approximately 4.6% of the outstanding Shares; (ii) PHLOX beneficially owned approximately 2.8% of the outstanding Shares; (iii) KWM beneficially owned approximately 7.4% of the outstanding Shares; and (iv) Mr. Kanen beneficially owned approximately 7.4% of the outstanding Shares.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Cover Pages Items 5-9.
	(ii) Shared power to vote or to direct the vote: See Cover Pages Items 5-9.
	(iii) Sole power to dispose or to direct the disposition of: See Cover Pages Items 5-9.
	(iv) Shared power to dispose or to direct the disposition of: See Cover Pages Items 5-9.
Item 5.	Ownership of 5 Percent or Less of a Class.
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.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. See Exhibit 99.1 to the Schedule 13G filed by the Reporting Persons on May 16, 2025.
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.

Philotimo Fund, LP

Signature:	/s/ David L. Kanen
Name/Title:	David L. Kanen, Managing Member of Kanen Wealth Management, LLC, its general partner
Date:	08/14/2025

Philotimo Focused Growth & Income Fund

Signature:	/s/ David L. Kanen
Name/Title:	David L. Kanen, Managing Member of Kanen Wealth Management, LLC, its investment manager
Date:	08/14/2025

Kanen Wealth Management LLC

Signature:	/s/ David L. Kanen
Name/Title:	David L. Kanen, Managing Member
Date:	08/14/2025

Kanen David

Signature:	/s/ David L. Kanen
Name/Title:	David L. Kanen
Date:	08/14/2025