Philotimo Fund Discloses Significant Stake in DATA I/O CORP

TL;DR

**Philotimo Fund just bought a big chunk of DATA I/O, signaling institutional confidence.**

AI Summary

Philotimo Fund, LP, a Delaware-incorporated entity, has disclosed a significant stake in DATA I/O CORP (NASDAQ: DAIO) by filing an SC 13G on January 5, 2024, for an event that occurred on January 2, 2024. This filing indicates that Philotimo Fund, LP now holds a substantial position in the company's common stock, signaling their belief in DATA I/O's future prospects. This matters to investors because a large institutional investment can be seen as a vote of confidence, potentially attracting more attention and capital to the stock, which could influence its price.

Why It Matters

This filing reveals a new institutional investor, Philotimo Fund, LP, has taken a notable position in DATA I/O CORP, which could signal a positive outlook for the company's stock.

Risk Assessment

Risk Level: low — An SC 13G filing typically indicates a passive investment, posing low immediate risk to existing shareholders.

Analyst Insight

A smart investor would research Philotimo Fund, LP's investment strategy and consider why they've taken a position in DATA I/O CORP, potentially seeing this as a positive signal for the stock's future performance.

Key Players & Entities

• Philotimo Fund, LP (company) — reporting person, institutional investor
• DATA I/O CORP (company) — subject company, issuer of securities
• January 2, 2024 (date) — date of event requiring the filing
• January 5, 2024 (date) — date the filing was made
• 0000351998 (number) — CUSIP number for DATA I/O CORP common stock

FAQ

Filing Documents

• sc13g11527daio_01052023.htm (SC 13G) — 137KB
• ex991to13g11527daio_01052023.htm (EX-99.1) — 10KB
• 0000921895-24-000057.txt ( ) — 148KB

(a). Name of Issuer

Item 1(a). Name of Issuer: Data I/O Corporation.

(b). Address of Issuer’s Principal Executive Offices

Item 1(b). Address of Issuer’s Principal Executive Offices: 6645 185th Ave NE, Suite 100, Redmond, Washington, 98052.

(a). Name of Person Filing

Item 2(a). Name of Person Filing This statement is filed by Philotimo Fund LP, a Delaware limited partnership (“Philotimo”), Philotimo Focused Growth and Income Fund, a series of World Funds Trust and 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. KWM is also the advisor to PHLOX. Mr. Kanen is the managing member of KWM. By virtue of these relationships, KWM may be deemed to beneficially own the Shares (as defined below) owned by Philotimo and PHLOX and Mr. Kanen may be deemed to beneficially own the Shares (as defined below) owned by each of Philotimo, PHLOX, and KWM.

(b). Address of Principal Business Office or, if None, Residence

Item 2(b). Address of Principal Business Office or, if None, Residence The principal business address of each of Philotimo, KWM, PHLOX and Mr. Kanen is 5850 Coral Ridge Drive, Suite 309, Coral Springs, Florida 33076.

(c). Citizenship

Item 2(c). Citizenship: Philotimo is organized under the laws of the Mr. Kanen is a citizen of the United States of America.

(d). Title of Class of Securities

Item 2(d). Title of Class of Securities: Common Stock, no par value (the “Shares”).

(e). CUSIP Number

Item 2(e). CUSIP Number: 6 CUSIP No. 0000351998

If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person

Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: /x/ Not applicable. (a) / / Broker or dealer registered under Section 15 of the Exchange Act. (b) / / Bank as defined in Section 3(a)(6) of the Exchange Act. (c) / / Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) / / Investment company registered under Section 8 of the Investment Company Act. (e) / / An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E). (f) / / An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F). (g) / / A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G). (h) / / A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act. (i) / / A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act. (j) / / A non-U.S. institution, in accordance with Rule 13d-1(b)(1)(ii)(J). (k) / / Group, in accordance with Rule 13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: ____

Ownership

Item 4. Ownership. (a) Amount beneficially owned: As of the close of business on December 4, 2023: (i) Philotimo beneficially owned 479,127 Shares; 7 CUSIP No. 0000351998 (ii) PHLOX beneficially owned 327,401 Shares; (iii) KWM beneficially owned 806,528 Shares; and (iv) Mr. Kanen beneficially owned 826,421 Shares. (b) Percent of class: The aggregate percentage of the Shares reported owned by each person named herein is based upon 9,020,798 Shares outstanding as of October 30, 2023, which is the total number of Shares outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 9, 2023. As of the close of business on January 5, 2024: (i) Philotimo may be deemed to beneficially own approximately 5.3% of the outstanding Shares; (ii) PHLOX may be deemed to beneficially own approximately 3.6% of the outstanding Shares; (iii) KWM may be deemed to beneficially own approximately 8.9% of the outstanding Shares; and (iv) Mr. Kanen may be deemed to beneficially own approximately 9.2% of the outstanding Shares. (c) Number of shares as to which such 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.

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ].

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not Applicable.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by

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.

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. See Exhibit 99.1.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. Not Applicable.

Certifications

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. 8 CUSIP No. 0000351998 SIGNATURE After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: January 5, 2024 Kanen Wealth Management, LLC By: /s/ David L. Kanen Name: David L. Kanen Title: Managing Member Philotimo Fund, LP By: Kanen Wealth Management, LLC, its general partner By: /s/ David L. Kanen Name: David L. Kanen Title: Managing Member Philotimo Focused Growth and Income Fund By: Kanen Wealth Management, LLC, its investment adviser By: /s/ David L. Kanen Name: David L. Kanen Title: Managing Member /s/ David L. Kanen David L. Kanen 9

View Full Filing

View this SC 13G filing on SEC EDGAR