Camping World (CWH) is positioned to benefit from new legislation that proposes to make RV mortgage interest and trailer floorplan financing fully tax deductible, which could cut monthly costs for customers by approximately 10%. This legislative tailwind comes at a time when CWH continues to gain market share in a domestically concentrated industry that has been in decline since 2022. Despite the overall RV market sell-off in April, the recent dip in CWH's stock price, combined with its strong fundamentals and valuation, prompted us to add to our position, as we believe it lacked a catalyst until now.

Camping World (CWH), the largest RV dealer in the U.S., is positioned to benefit from new legislation that proposes to make RV mortgage interest and trailer floorplan financing fully tax deductible, effectively cutting monthly costs for customers by approximately 10%. This legislative tailwind comes at a time when CWH continues to gain market share in a domestically concentrated industry that has been in decline since 2022. The recent dip in RV stocks, despite limited exposure to tariffs, prompted us to add to our position, as we have owned CWH since inception for its share gains and valuation.

Camping World (CWH) is positioned to benefit from new legislation that proposes to make RV mortgage interest and trailer floorplan financing fully tax deductible, which could cut monthly costs for customers by approximately 10%. This legislative tailwind comes at a time when CWH continues to gain market share in a domestically concentrated industry that has been in decline since 2022. Despite the overall RV market sell-off in April, the recent dip in CWH's stock price prompted us to add to our position, as we believe it has strong potential for share gains and improved valuation.