Philotimo Fund Amends ONE Group Hospitality Stake

TL;DR

Philotimo Fund filed an amendment on their ONE Group Hospitality stake. Details TBD.

AI Summary

Philotimo Fund, LP has filed an amendment (No. 9) to its Schedule 13D regarding ONE Group Hospitality, Inc. The filing, dated March 20, 2024, indicates a change in the reporting of beneficial ownership for the common stock of ONE Group Hospitality, Inc. The specific details of the change in ownership percentage or holdings are not detailed in this excerpt.

Why It Matters

This filing signals a potential shift in the major shareholder landscape of ONE Group Hospitality, Inc., which could influence the company's strategic direction or stock performance.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor activity or significant shifts in major holdings, which may impact stock price volatility.

Key Players & Entities

• Philotimo Fund, LP (company) — Filing entity
• ONE Group Hospitality, Inc. (company) — Subject company
• 20240320 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — ame of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securiti
• $5,493,418 — eficially owned by KWM is approximately $5,493,418, including brokerage commissions. The a
• $3,632,873 — lly owned by Philotimo is approximately $3,632,873, including brokerage commissions. The a
• $1,298,671 — 5 Shares beneficially owned by PHLOX is $1,298,671, including brokerage commissions. The a
• $41,091 — lly owned by Mr. Kanen is approximately $41,091, including brokerage commissions. Item

Filing Documents

• sc13da911527009_03202024.htm (SC 13D/A) — 133KB
• 0000921895-24-000691.txt ( ) — 135KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration .

is hereby amended

Item 3 is hereby amended and restated to read as follows: The Shares purchased by Philotimo were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market transactions. The Shares purchased by PHLOX were purchased with the funds for the accounts of its customers (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market transactions. The Shares purchased by KWM were purchased with the funds for the accounts of its customers (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market transactions. The Shares purchased by Mr. Kanen were purchased with personal funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market transactions. The aggregate purchase price of the 2,479,100 Shares beneficially owned by KWM is approximately $5,493,418, including brokerage commissions. The aggregate purchase price of the 1,970,000 Shares beneficially owned by Philotimo is approximately $3,632,873, including brokerage commissions. The aggregate purchase price of the 393,975 Shares beneficially owned by PHLOX is $1,298,671, including brokerage commissions. The aggregate purchase price of the 20,237 Shares beneficially owned by Mr. Kanen is approximately $41,091, including brokerage commissions.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer . Items 5(a)-(c) are hereby amended and restated to read as follows: The aggregate percentage of Shares reported owned by each person named herein is based upon 31,307,407 Shares outstanding, which is the total number of Shares outstanding as reported in the Issuer’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2024. A. Philitimo (a) As of the close of business on March 20, 2024, Philotimo directly owned 1,970,000 Shares. Percentage: Approximately 6.3% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 1,970,000 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 1,970,000 (c) KWM has not transacted in the securities of the Issuer during the past sixty days. B. PHLOX (a) As of the close of business on March 20, 2024, PHLOX directly owned 393,975 Shares. Percentage: Approximately 1.3% 6 CUSIP No. 88338K103 (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 393,975 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 393,975 (c) The transactions in the Shares by PHLOX during the past sixty days are set forth on Schedule A and are incorporated herein by reference. C. KWM (a) As of the close of business on March 20, 2024, KWM directly owned 2,479,100 Shares. KWM, as the general partner of Philotimo, may be deemed the beneficial owner of the (i) 1,970,000 Shares owned by Philotimo and (ii) the 393,975 Shares owned by PHLOX. Percentage: Approximately 15.5% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 4,843,075 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 4,843,075 (c) KWM has not transacted in the securities of the Issuer during the past sixty days. D. Mr. Kanen

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: March 20, 2024 Kanen Wealth Management, LLC By: /s/ David L. Kanen Name: David L. Kanen Title: Managing Member Philotimo Fund, LP By: Kanen Wealth Management, LLC, its general partner By: /s/ David L. Kanen Name: David L. Kanen Title: Managing Member Philotimo Focused Growth and Income Fund By: Kanen Wealth Management, LLC, its investment adviser By: /s/ David L. Kanen Name: David L. Kanen Title: Managing Member /s/ David L. Kanen David L. Kanen 8 CUSIP No. 88338K103 SCHEDULE A Transactions in the Shares of the Issuer During the Past Sixty Days Nature of the Transaction Amount of Shares Purchased/(Sold) Price ($) Date of Purchase/Sale PHILOTIMO FOCUSED GROWTH & INCOME FUND Purchase of Common Stock 191,585 3.7532 03/15/2024 Purchase of Common Stock 73,733 4.2133 03/18/2024 Purchase of Common Stock 7,103 4.1929 03/19/2024

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