Divisadero Street Capital Management Reports New 5.8% Stake in Turning Point Brands, Inc.

On May 15, 2026, Divisadero Street Capital Management, LP, along with William Zolezzi and several affiliated entities, filed a Schedule 13G regarding their holdings in Turning Point Brands, Inc. (TPB). The filing indicates that as of May 8, 2026, the group has acquired a 5.8% stake in the company, representing 1,129,550 shares of Common Stock. This position was established through shared voting and dispositive power among the reporting persons, which include Divisadero Street Partners, L.P., Divisadero Street Partners GP, LLC, and Divisadero Street Capital, LLC. The filing was made under Rule 13d-1(c), certifying that the shares were not acquired for the purpose of changing or influencing the control of the issuer. All reported securities are directly owned by advisory clients of Divisadero Street Capital Management, LP, with Divisadero Street Partners, L.P. being the only client deemed to beneficially own more than 5% of the class. This represents a significant new position for the investment firm in the tobacco and smoking products company.