Union Square Park and Leon Zaltzman Disclose 4.19% SPWH Position

Rhea-AI Filing Summary

Union Square Park entities and Leon Zaltzman report beneficial ownership of 1,604,378 shares of Sportsman's Warehouse Holdings, Inc. common stock, representing 4.19% of the class. The declaration breaks down voting and dispositive power: Mr. Zaltzman has 4,378 shares of sole voting and sole dispositive power and 1,600,000 shares of shared voting and shared dispositive power. The three Union Square Park entities each report 1,600,000 shares of shared voting and shared dispositive power.

The filing states these securities were not acquired to change or influence control of the issuer and that ownership is below the 5% threshold. Items about larger group control, parent-subsidiary acquisitions, and related group dissolutions are reported as not applicable.

Insights

Financial Analyst

TL;DR: Passive sub-5% stake disclosed; ownership is concentrated in shared voting power but explicitly not held to change control.

The Schedule 13G/A shows an aggregate beneficial position of 1,604,378 shares (4.19%), which is below the 5% materiality threshold commonly viewed by investors and regulators. The breakdown between sole and shared voting/dispositive power is explicit: 4,378 shares sole and 1,600,000 shares shared. Because the filing affirms the position is not intended to influence control, this disclosure reads as a passive investment disclosure rather than an activist or control-seeking move. For market impact, sub-5% positions typically register as notable transparency events but are not usually material to valuation absent other disclosures.

Corporate Governance Expert

TL;DR: Governance implications appear limited; shared voting power is documented but no intent to alter control is stated.

The document identifies the reporting persons and quantifies both voting and dispositive power, demonstrating compliance with disclosure rules for beneficial owners. The presence of shared voting/dispositive power over 1.6M shares indicates coordinated ownership among affiliated entities, yet the filing expressly disclaims any purpose to change or influence issuer control. Items regarding group formation, parent-subsidiary acquisition, or dissolution are marked not applicable, reinforcing the filing's characterization as a passive, informational disclosure rather than a governance action.

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

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Accepted by SEC EDGAR 08/12/2025 - 02:11 PM Learn about SEC filing dates

FAQ

Who reported the ownership stake in Sportsman's Warehouse (SPWH)?

The reporting persons are Union Square Park Partners, LP; Union Square Park Capital Management, LLC; Union Square Park GP, LLC; and Leon Zaltzman.

How many SPWH shares are reported and what percent of the class do they represent?

The aggregate beneficial ownership reported is 1,604,378 shares, representing 4.19% of the class.

What voting and dispositive power is reported for the holders?

The filing shows 4,378 shares of sole voting and sole dispositive power and 1,600,000 shares of shared voting and shared dispositive power.

Does the filing state the shares were acquired to influence control of SPWH?

No. The certification states the securities were not acquired and are not held for the purpose of changing or influencing control of the issuer.

Does this ownership exceed 5% of SPWH outstanding shares?

No. The reported 4.19% is below the 5% ownership threshold referenced in disclosure rules.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

SPORTSMAN'S WAREHOUSE HOLDINGS, INC.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

84920Y106

(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. 84920Y106

1

Names of Reporting Persons

Union Square Park Partners, 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 1,600,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,600,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,600,000.00

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)

4.19 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 84920Y106

1

Names of Reporting Persons

Union Square Park 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 0.00
6	Shared Voting Power 1,600,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,600,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,600,000.00

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)

4.19 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 84920Y106

1

Names of Reporting Persons

Union Square Park GP, 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 0.00
6	Shared Voting Power 1,600,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,600,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,600,000.00

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)

4.19 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 84920Y106

1

Names of Reporting Persons

Leon Zaltzman

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 4,378.00
6	Shared Voting Power 1,600,000.00
7	Sole Dispositive Power 4,378.00
8	Shared Dispositive Power 1,600,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,604,378.00

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)

4.19 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SPORTSMAN'S WAREHOUSE HOLDINGS, INC.
(b)	Address of issuer's principal executive offices: 1475 WEST 9000 SOUTH, SUITE A, WEST JORDAN, UT, 84088
Item 2.
(a)	Name of person filing: Union Square Park Partners, LP Union Square Park Capital Management, LLC Union Square Park GP, LLC Leon Zaltzman
(b)	Address or principal business office or, if none, residence: Union Square Park Partners, LP, 1120 Avenue of the Americas, Suite 1502, New York, NY, 10036 Union Square Park Capital Management, LLC,1120 Avenue of the Americas, Suite 1502, New York, NY, 10036 Union Square Park GP, LLC, 1120 Avenue of the Americas, Suite 1502, New York, NY, 10036 Leon Zaltzman, 1120 Avenue of the Americas, Suite 1502, New York, NY, 10036
(c)	Citizenship: Please refer to Item 4 on each cover sheet for each filing person.
(d)	Title of class of securities: Common Stock, par value $0.01 per share
(e)	CUSIP No.: 84920Y106
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: 1,604,378
(b)	Percent of class: 4.19%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 4,378
	(ii) Shared power to vote or to direct the vote: 1,600,000
	(iii) Sole power to dispose or to direct the disposition of: 4,378
	(iv) Shared power to dispose or to direct the disposition of: 1,600,000
Item 5.	Ownership of 5 Percent or Less of a Class.
	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.
	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.

Union Square Park Partners, LP

Signature:	/s/ Leon Zaltzman
Name/Title:	Leon Zaltzman - Managing Member of the General Partner
Date:	08/12/2025

Union Square Park Capital Management, LLC

Signature:	/s/ Leon Zaltzman
Name/Title:	Leon Zaltzman - Managing Member
Date:	08/12/2025

Union Square Park GP, LLC

Signature:	/s/ Leon Zaltzman
Name/Title:	Leon Zaltzman - Managing Member
Date:	08/12/2025

Leon Zaltzman

Signature:	/s/ Leon Zaltzman
Name/Title:	Leon Zaltzman
Date:	08/12/2025

Exhibit Information

JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. Dated: August 14, 2025 Union Square Park Partners, LP By: /s/ Leon Zaltzman Name: Leon Zaltzman Title: Managing Member of the General Partner Union Square Park Capital Management, LLC By: /s/ Leon Zaltzman Name: Leon Zaltzman Title: Managing Member Union Square Park GP, LLC By: /s/ Leon Zaltzman Name: Leon Zaltzman Title: Managing Member Leon Zaltzman /s/ Leon Zaltzman Name: Leon Zaltzman