Puzzled by a Spacer on Front Wheel (TE250 2007)

Hi, replacing the front tire so took the wheel off ... I am puzzled by this spacer that comes right out of the rim, with three threaded holes but nothing to really hold it and prevent it from rotating?

Does it just sit there and freewheel ? What prevents it from rotating ? Any idea what the three holes are for, am I missing parts??

And, which way is it supposed to face ? Three threaded holes toward disk brake?

Going to cyclegear right now to have the new tire put on ...

Thanks in advance !

That is a rotor guard mount, someone removed the shark fin that attached to it. The regular spacer was round.

The axle clamps it tight so it won't rotate.

Makes sense !!! Thank you !!

I just went through this. I actually had to but a Lon bolt with spacer in it to keep it from rotating. When you tighten your front wheel you want to have everything not binding, I always shake it then tighten axle clamps first, lastly axle bolt. In doing this my guard would swivel slowly with the wheel. The bolt now hits the underside of the brake mount and keeps it from rotating

I'd try to find a stock spacer. That thing is just going to pick up weeds and mud in the woods.