BML Investment Partners reports 9.4% stake in Tilly's (TLYS)

Rhea-AI Filing Summary

Tilly's, Inc. Schedule 13G shows that BML Investment Partners, L.P. and Braden M. Leonard report beneficial ownership of 2,189,186 shares of Class A common stock, representing 9.4% of the class.

The filing states 100,000 shares are held with sole voting and dispositive power and 2,089,186 shares are held with shared voting and dispositive power. The filing is signed by Braden M. Leonard with a signature date of 03/19/2026.

Insights

Corporate Governance Analyst

Large passive stake disclosed; shared control structure noted.

The filing reports combined beneficial ownership of 2,189,186 shares, or 9.4%, with 2,089,186 shares held in shared voting/dispositive power. The disclosure describes an indirect ownership chain through BML Investment Partners, L.P., BML Capital Management, LLC, and Mr. Leonard.

This structure implies shared decision authority rather than outright sole control; any governance influence depends on future coordination among the named entities. Subsequent filings would clarify whether this stake is passive under Schedule 13G or tied to coordinated plans.

Equity Ownership Analyst

Position size approaches a double-digit stake; potential monitoring item for holders.

The reported position equals 2,189,186 shares (9.4%) with 100,000 shares noted as sole voting/dispositive power. The filing expressly disclaims a statutory group under Rule 13d-5(b)(1).

Whether this stake triggers activist or strategic intentions is not stated; the practical impact depends on any future amendments or Schedule 13D filings that would disclose changes in intent or coordination.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Tilly's, Inc.

(Name of Issuer)

Class A Common Stock, $0.001 par value per share

(Title of Class of Securities)

886885102

(CUSIP Number)

03/12/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 886885102

1

Names of Reporting Persons

BML Investment Partners, L.P.

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 2,089,186.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,089,186.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,089,186.00

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)

9 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 886885102

1

Names of Reporting Persons

Leonard Braden Michael

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 100,000.00
6	Shared Voting Power 2,089,186.00
7	Sole Dispositive Power 100,000.00
8	Shared Dispositive Power 2,089,186.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,189,186.00

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)

9.4 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: BML Investment Partners, L.P. is a Delaware limited partnership whose sole general partner is BML Capital Management, LLC. The managing member of BML Capital Management, LLC is Braden M. Leonard. As a result, Braden M. Leonard is deemed to be the indirect owner of the shares held directly by BML Investment Partners, L.P. Despite such shared beneficial ownership, the reporting persons disclaim that they constitute a statutory group within the meaning of Rule 13d-5(b) (1) of the Securities Exchange Act of 1934.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Tilly's, Inc.
(b)	Address of issuer's principal executive offices: 10 Whatney Drive, Irvine, California, 92618
Item 2.
(a)	Name of person filing: BML Investment Partners, L.P. Braden M Leonard
(b)	Address or principal business office or, if none, residence: 65 E Cedar - Suite 2, Zionsville IN 46077
(c)	Citizenship: Delaware United States
(d)	Title of class of securities: Class A Common Stock, $0.001 par value per share
(e)	CUSIP Number(s): 886885102
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: 2189186
(b)	Percent of class: 9.4 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 100000
	(ii) Shared power to vote or to direct the vote: 2089186
	(iii) Sole power to dispose or to direct the disposition of: 100000
	(iv) Shared power to dispose or to direct the disposition of: 2089186
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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.

BML Investment Partners, L.P.

Signature:	Braden M Leonard
Name/Title:	BML Capital Management, LLC its General Partner By: Braden M Leonard, its Managing Member
Date:	03/19/2026

Leonard Braden Michael

Signature:	Braden M Leonard
Name/Title:	Leonard Braden Michael
Date:	03/19/2026

FAQ

What stake did BML Investment Partners report in TLYS?

They reported beneficial ownership of 2,189,186 shares, representing 9.4% of Class A common stock. The filing shows 2,089,186 shares held with shared power and 100,000 shares with sole power.

Who is the individual named on the TLYS Schedule 13G?

The filing names Braden M. Leonard as the reporting person and managing member. He is described as indirectly owning the shares held by BML Investment Partners and signed the filing on 03/19/2026.

Does the Schedule 13G say the holders form a statutory group for TLYS?

No. The filing expressly states the reporting persons disclaim that they constitute a statutory group under Rule 13d-5(b)(1). The ownership chain and disclaimer are included in the footnote.

How many shares does Mr. Leonard hold with sole voting power in TLYS?

Mr. Leonard is shown with 100,000 shares of sole voting power and sole dispositive power. The remaining 2,089,186 shares are shown with shared voting and dispositive power.

When was the Schedule 13G for TLYS signed?

The filing is signed by Braden M. Leonard on 03/19/2026. That signature date is shown on the Schedule 13G included in the excerpt.