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The use of punctuation in German incunabula is often described as arbitrary, irregular, and unsystematic (cf. Masalon 2014: 54–56). This concerns the inventory, frequency, and function of punctuation marks as well as pragmatic aspects such as how typesetters treated punctuation in their respective target texts. In this paper, punctuation is not seen as an independent linguistic subsystem, but as a means of text segmentation that – along with other measures (e. g. capital letters, pilcrows, and white space) – was used to structure a text with respect to its formal appearance, helping the reader to decode information. This case study is based on a corpus of German pamphlets written by the Bohemian astrologer Wenzel Faber and printed annually beginning in 1481 at various print shops, principally in Leipzig and Nuremberg. The analysis finds significant changes in the editions before and after 1490. These changes include an increasing consistency in the intensity of text segmentation, and a use of capital letters and punctuation marks developed from a polyfunctional to a monofunctional approach. Finally, different types of text segmentation are proposed, each characterized by a specific relationship between its frequency and its function. Despite this overall tendency, one must still take into account that typesetters followed individual punctuation practices in their search for suitable forms of text segmentation.