TTSH TILE SHOP HOLDINGS, INC. Insider Trading

Fund 1 Investments (10% owner) bought 1,060 shares of TTSH at $6.26 on 2025-06-20; 5th buy in 3 weeks.

Fund 1 Investments, a 10% shareholder, purchased 1,060 shares at $6.26, extending a pattern of five consecutive open-market buys at TTSH over three weeks (2025-05-23 through 2025-06-20). The current price of $6.30 sits -18.1% from the 52-week high of $7.69, and TTSH trades at a P/E of 315.00 against recent quarterly net income of $172.0K. Across Fund 1's cross-ticker buy history, the average 30-day return stands at +7.1%, though same-ticker outcomes at TTSH are not yet measurable beyond the 30-day window for the earliest trade. The persistent accumulation despite weak fundamentals (annual revenue declining -8.0%, elevated P/E multiple) and flat 90-day price action warrants tracking whether this pattern of steady buying reflects conviction or represents a mechanical rebalancing position.

10% Owner Fund 1 Investments buys 1,060 shares of TTSH at $6.26 on 2025-06-20; 5th buy in 4 weeks

Fund 1 Investments purchased 1,060 shares at $6.26, adding marginally to a holding of 11.86M shares. This is the fifth open-market buy at TTSH in four weeks (May 23, May 30, June 2, June 3, and June 20), suggesting consistent accumulation activity. However, the company faces headwinds: annual revenue declined 8.0% year-over-year, net income is minimal at $172.0K on $88.0M revenue, and the P/E of 315.00 reflects a stressed valuation. The stock has retreated 18.1% from its 52-week high of $7.69, trading at $6.30, though it has risen 8.2% over the past 30 days. The accumulation pattern itself is the notable signal—five purchases within a concentrated four-week window—though the deteriorating fundamentals and elevated valuation multiple warrant attention to whether the purchases reflect conviction or other factors.

10% owner Fund 1 Investments purchased 24,016 shares across 3 transactions (May 30–June 3) at blended avg $6.26.

Fund 1 Investments, LLC, a 10% shareholder, executed 3 separate purchases totaling 24,016 shares for $150,248.87 between May 30 and June 3, 2025, adding to holdings of 11.86M shares. The stock was trading within its 52-week range ($5.32–$7.69) and has risen 14.8% over the prior 30 days. The insider's cross-ticker track record shows 20 prior buys, though 5 recent same-ticker purchases at TTSH (May 6, 6, 8, 19, 23) have not yet accumulated 90-day measurable outcomes. Company fundamentals show a P/E of 325.00 on net income of $172,000.00 against quarterly revenue of $88,009,000.00, with annual revenue declining 8.0% year-over-year. This filing documents accumulation by a major stakeholder during a period of recent positive price momentum, though the company faces negative revenue growth and elevated valuation metrics.

Fund 1 Investments buys 11,254 shares of TTSH at $5.84; holding now 11.83M shares in unprofitable company (P/E 303, $172K net income)

Fund 1 Investments, a 10% owner, purchased 11,254 shares at $5.84 on 2025-05-23, adding to a position that now stands at 11.83M shares post-transaction. This is the fifth documented open-market purchase at TTSH in under three weeks (prior buys on 2025-05-19, 2025-05-08, 2025-05-06, and 2025-04-25), suggesting sustained accumulation activity. However, context raises questions about investment thesis durability: the company reported revenue of $88.0M but net income of only $172.0K, yields a P/E of 303, and year-over-year revenue declined 8.0%, indicating structural profitability stress. The current price of $6.06 sits 21.2% below the 52-week high of $7.69, and across the insider's cross-ticker buy history, the average 30-day return was -8.5%, suggesting prior buys have not consistently captured near-term appreciation.

10% owner Fund 1 Investments buys 5,547 shares of TTSH at $5.96; stock -21.4% in 90 days amid weak fundamentals.

Fund 1 Investments, LLC, a 10% shareholder, purchased 5,547 shares at $5.96 on 2025-05-19, increasing holdings from 11,814,928 to 11,820,475 shares. This follows four additional purchases at this ticker within the prior two weeks (2025-04-25, 2025-05-06, 2025-05-08), suggesting an accumulation pattern. However, the stock has declined 21.4% over the 90-day period and currently trades 22.1% below its 52-week high of $7.69. Fundamentally, TTSH shows deteriorating performance: annual revenue contracted 8.0%, net income remains marginal at $172,000.00 on $88,009,000.00 quarterly revenue, and the P/E ratio of 299.50 reflects depressed earnings. The repeated purchases during this downtrend raise questions about conviction versus other drivers of the buying activity.

10% Owner Fund 1 Investments buys 28,178 shares across 3 transactions (May 6–8) for $146,333.70 at $5.19 avg; TTSH up 10.8% in 30d.

Fund 1 Investments, LLC, a 10% shareholder, executed 3 separate purchases totaling 28,178 shares for $146,333.70 (blended average $5.19) on May 6 and May 8, 2025. The timing follows four recent buys in late April and comes as TTSH has risen 10.8% over the prior 30 days while trading 18.6% below its 52-week high of $7.69. However, the company reports concerning fundamentals: annual revenue declined 8.0% year-over-year, net income sits at just $172,000.00 on $88,009,000.00 in quarterly revenue (profit margin ~0.2%), and the stock carries an extreme P/E of 313.00, reflecting minimal earnings relative to market cap of $280,009,324.24. The insider's cross-ticker track record shows 19 prior open-market buys and only 1 prior sell, suggesting a consistent accumulation bias rather than a selective timing strategy.

Fund 1 Investments (10% owner) bought 4,924 shares at $5.76 blended average on 2025-04-25; stock down 25.1% from 52-week high.

Fund 1 Investments, LLC, a 10% shareholder of TILE SHOP HOLDINGS, INC., completed 2 separate purchases totaling 4,924 shares for $28,342.11, bringing holdings to 11,786,750 shares. This transaction occurred as TTSH traded at $5.76, representing a 25.1% decline from its 52-week high and a 11.2% drop over the prior 30 days. The insider's cross-ticker track record shows 19 prior buys versus 1 prior sell, though all same-ticker outcomes at TTSH remain unmeasurable as the prior four trades (2025-04-09 through 2025-04-17) have not yet reached the 90-day assessment window. The company's fundamentals present a mixed picture: recent quarterly revenue of $84,505,000.00 with net income of only $41,000.00, annual revenue decline of -8.0%, and a P/E ratio of 115.20 suggests depressed profitability relative to market valuation. Investors should monitor whether this insider accumulation reflects conviction during a price decline or is part of a broader pattern without predictive value at this ticker.

Fund 1 Investments (10% owner) purchases 15,000 shares of TTSH in 3 transactions for $80,655.20 at $5.38 average price

Fund 1 Investments, LLC—a 10% shareholder in TILE SHOP HOLDINGS—executed 3 separate purchases totaling 15,000 shares for $80,655.20 across April 16–17, 2025, at prices ranging from $5.36 to $5.41. The purchase represents a modest 0.1% increase to the fund's 11.78M-share position, occurring as TTSH traded near its 52-week low of $5.40 and down 29.3% from the 52-week high of $7.69. The fund has actively accumulated shares at this ticker—5 prior purchases within recent weeks (March 31–April 9)—despite the stock's steep 22.6% decline over 90 days and challenged fundamentals including -8.0% annual revenue growth, minimal net income of $41.0K, and a stretched P/E of 108.80. The pattern shows sustained purchasing activity by a significant shareholder during a period of stock weakness, but without measurable 90-day performance data on the recent prior trades, timing assessment remains incomplete.

10% Owner Fund 1 Investments bought 20,000 shares of TTSH at $5.94 on 2025-04-09, totaling $118,800.00

Fund 1 Investments, LLC, holding 11.76M shares post-transaction, purchased 20,000 shares at $5.94 as a modest 0.2% addition to its stake on 2025-04-09. The transaction occurs within a volatile backdrop: the stock trades -19.0% from its 52-week high and has declined 6.2% over 30 days and 8.1% over 90 days. Fund 1 completed 5 prior purchases at TTSH across late March and early April, all still too recent to assess 90-day outcomes. Fundamentally, TTSH faces headwinds with annual revenue declining 8.0% year-over-year and a compressed P/E of 124.60 on minimal net income of $41,000.00, though the company maintains quarterly revenue of $84.5M. The buying pattern—five purchases in rapid succession during a price decline—reflects ongoing investment activity rather than a strategic shift in conviction, against a company experiencing revenue contraction and profitability constraints.

Fund 1 Investments (10% owner) bought 29,472 shares across 3 trades for $191,142.26 at TTSH, blended average $6.49, amid -15.4% monthly decline.

Fund 1 Investments filed 3 separate purchases totaling 29,472 shares for $191,142.26 on 2025-04-01 and 2025-04-02, at prices ranging from $6.42 to $6.54, bringing holdings to 11.74M shares. This accumulation occurs as the stock trades at $5.98, down 15.4% over 30 days and 22.2% from its 52-week high of $7.69. The timing is notable: the insider executed these buys following at least 5 prior purchases at TTSH between 2025-03-26 and 2025-03-31, suggesting sustained acquisition activity over a compressed window. However, the fundamental picture is mixed—the company reported annual revenue growth of -8.0% and a P/E ratio of 119.60 against minimal quarterly net income of $41,000.00 on revenue of $84.5M, which constrains how much signal to draw from recent price weakness alone.