Star Group, L.P. received an amended Schedule 13G/A reporting updated beneficial ownership by Bandera Partners LLC, Gregory Bylinsky, and Jefferson Gramm as of June 30, 2025. Bandera Partners reported beneficial ownership of 2,745,360 Common Units, or 8.1%, based on 33,865,975 Common Units outstanding as of May 30, 2025.
Jefferson Gramm reported 2,951,843 Common Units (including shared voting/dispositive power over 2,745,360) for 8.7%. Gregory Bylinsky reported 2,750,187 Common Units for 8.1%. Bandera Partners has sole voting and dispositive power over 2,745,360 units. The filers state the securities were acquired and are held in the ordinary course and not for the purpose of changing or influencing control.
Positive
None.
Negative
None.
Insights
Passive 13G/A update shows Bandera-related holdings at up to 8.7%.
This filing updates beneficial ownership in Star Group (SGU) by Bandera Partners and its managing members. Reported stakes are sized off 33,865,975 units outstanding as of May 30, 2025, with Bandera Partners at 8.1% and Jefferson Gramm at 8.7%.
The certification aligns with a passive 13G stance: acquired and held in the ordinary course and not to influence control. Voting power details show Bandera Partners with sole voting/dispositive power over 2,745,360 units, while Messrs. Gramm and Bylinsky reflect personal holdings plus shared power over the Master Fund's units.
Actual market impact depends on future holder actions, but the document itself does not indicate control-seeking activity. Subsequent filings may provide further changes in ownership levels.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 7)
STAR GROUP, L.P.
(Name of Issuer)
Common Units
(Title of Class of Securities)
85512C105
(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.
85512C105
1
Names of Reporting Persons
Bandera Partners 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
2,745,360.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,745,360.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,745,360.00
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)
8.1 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
CUSIP No.
85512C105
1
Names of Reporting Persons
Bylinsky Gregory
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
4,827.00
6
Shared Voting Power
2,745,360.00
7
Sole Dispositive Power
4,827.00
8
Shared Dispositive Power
2,745,360.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,750,187.00
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)
8.1 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
CUSIP No.
85512C105
1
Names of Reporting Persons
Gramm Jefferson
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
206,483.00
6
Shared Voting Power
2,745,360.00
7
Sole Dispositive Power
206,483.00
8
Shared Dispositive Power
2,745,360.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,951,843.00
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)
8.7 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
STAR GROUP, L.P.
(b)
Address of issuer's principal executive offices:
9 West Broad Street, Suite 310, Stamford, Connecticut 06902
Item 2.
(a)
Name of person filing:
This statement is filed by Bandera Partners LLC, a Delaware limited liability company ("Bandera Partners"), Gregory Bylinsky and Jefferson Gramm. Each of the foregoing is referred to as a "Reporting Person" and collectively as the "Reporting Persons."
Bandera Partners, Mr. Bylinsky and Mr. Gramm are filing this Statement with respect to 2,745,360 Common Units (the "Master Fund's Units") directly held by Bandera Master Fund L.P., a Cayman Islands exempted limited partnership ("Bandera Master Fund"). In addition, Mr. Gramm is also filing this Statement with respect to 206,483 Common Units directly owned by Mr. Gramm. Mr. Bylinsky is also filing this Statement with respect to 4,827 Common Units directly owned by Mr. Bylinsky.
Bandera Partners is the investment manager of Bandera Master Fund and may be deemed to have beneficial ownership over the Master Fund's Units by virtue of the sole and exclusive authority granted to Bandera Partners by Bandera Master Fund to vote and dispose of the Master Fund's Units.
Mr. Bylinsky and Mr. Gramm are Managing Members of Bandera Partners.
The filing of this Schedule 13G shall not be construed as an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any of the Common Units that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the Common Units reported herein that he or it does not directly own. Without limiting the foregoing sentence, Bandera Master Fund specifically disclaims beneficial ownership of the Master Fund's Units by virtue of its inability to vote or dispose of such Common Units.
(b)
Address or principal business office or, if none, residence:
The principal business address of each of the Reporting Persons is 138 Atlantic Avenue, Brooklyn, New York 11201.
(c)
Citizenship:
Bandera Partners is organized under the laws of the State of Delaware. Each of Messrs. Bylinsky and Gramm is a citizen of the United States of America.
(d)
Title of class of securities:
Common Units
(e)
CUSIP No.:
85512C105
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:
All ownership information reported in this Item 4 is as of the close of business on June 30, 2025.
Bandera Partners LLC
2,745,360 Common Units
Gregory Bylinsky
2,750,187 Common Units
Jefferson Gramm
2,951,843 Common Units
(b)
Percent of class:
Bandera Partners LLC
8.1% (based on 33,865,975 Common Units outstanding as of May 30, 2025, calculated from the 34,565,975 Common Units outstanding as of April 30, 2025 as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2025, less the 700,000 Common Units repurchased by the Issuer on May 30, 2025 as disclosed in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on June 2, 2025)
Gregory Bylinsky
8.1% (based on 33,865,975 Common Units outstanding as of May 30, 2025, calculated from the 34,565,975 Common Units outstanding as of April 30, 2025 as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2025, less the 700,000 Common Units repurchased by the Issuer on May 30, 2025 as disclosed in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on June 2, 2025)
Jefferson Gramm
8.7% (based on 33,865,975 Common Units outstanding as of May 30, 2025, calculated from the 34,565,975 Common Units outstanding as of April 30, 2025 as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2025, less the 700,000 Common Units repurchased by the Issuer on May 30, 2025 as disclosed in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on June 2, 2025)
(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.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The right to receive dividends from, or the proceeds from the sale of, the Master Fund's Units is held by Bandera Master Fund, a private investment fund for which Bandera Partners serves as investment manager. Bandera Partners, Mr. Bylinsky and Mr. Gramm disclaim beneficial ownership of the Master Fund's Units reported in this statement pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended.
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 with the Securities and Exchange Commission on February 14, 2019.
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 acquired and are held in the ordinary course of business and 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.
