STAR GROUP, L.P. — Major Shareholding Notification 2025

Nov 13, 2025

xml version="1.0" encoding="UTF-8"? SCHEDULE 13G/A 0000921895-19-000358 Field: Pseudo-Tag; ID: Name; Data: Bandera Partners LLC 0001399386 XXXXXXXX LIVE 7 Common Units 06/30/2025 0001002590 STAR GROUP, L.P. 85512C105 9 WEST BROAD STREET SUITE 310 STAMFORD CT 06902 Rule 13d-1(b) Bandera Partners LLC DE 2745360.00 0.00 2745360.00 0.00 2745360.00 N 8.1 IA OO Bylinsky Gregory X1 4827.00 2745360.00 4827.00 2745360.00 2750187.00 N 8.1 HC IN Gramm Jefferson X1 206483.00 2745360.00 206483.00 2745360.00 2951843.00 N 8.7 HC IN STAR GROUP, L.P. 9 West Broad Street, Suite 310, Stamford, Connecticut 06902 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. The principal business address of each of the Reporting Persons is 138 Atlantic Avenue, Brooklyn, New York 11201. 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. N IA 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 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) See Cover Pages Items 5-9. See Cover Pages Items 5-9. See Cover Pages Items 5-9. See Cover Pages Items 5-9. Y N 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. Y N See Exhibit 99.1 to the Schedule 13G filed by the Reporting Persons with the Securities and Exchange Commission on February 14, 2019. Y N 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. Bandera Partners LLC /s/ Gregory Bylinsky Gregory Bylinsky, Managing Member 11/13/2025 Bylinsky Gregory /s/ Gregory Bylinsky Gregory Bylinsky 11/13/2025 Gramm Jefferson /s/ Jefferson Gramm Jefferson Gramm 11/13/2025