FIRST SABREPOINT CAPITAL MANAGEMENT LP — 13F Holdings & Portfolio
CIK 1731530 · latest 13F-HR filed 2026-05-15
FIRST SABREPOINT CAPITAL MANAGEMENT LP manages $275.6M in 13F-reported U.S. long-equity assets across 29 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are TPB (12.60%), FCFS (12.08%), TPB (11.11%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 10 new positions, exited 7, added to 6, and trimmed 7.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$275.6M
Long-equity book
29
Distinct positions
2026-03-31
Filed 2026-05-15
+10 / −7 / ↑6 / ↓7
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- PEABODY ENGR CORP$5.3M +177.4%
- TARGET HOSPITALITY CORP$4.4M +364.8%
- VAALCO ENERGY INC$3.4M +61.5%
- FIRSTCASH HOLDINGS INC$2.2M +7.2%
- GRAND CANYON ED INC$1.5M +18.6%
Top Trims
- TURNING PT BRANDS INC-$8.6M -19.9%
- LAUREATE ED INC-$8.2M -48.7%
- COVISTA INC-$4.7M -34.0%
- GBANK FINL HLDGS INC-$3.0M -79.7%
- AUTOZONE INC-$1.7M -17.0%
New Positions
- MATADOR RES CO$8.5M
- ICHOR HOLDINGS$7.9M
- ULTRA CLEAN HLDGS INC$7.8M
- BUILD-A-BEAR WORKSHOP INC$7.0M
- ENTEGRIS INC$6.4M
Exited Positions
- MICROSOFT CORP$12.1M
- FEDERAL AGRIC MTG CORP$7.8M
- HASBRO INC$7.8M
- EURONET WORLDWIDE INC$7.7M
- PROGYNY INC$6.4M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | TURNING PT BRANDS INC | TPB | 90041L105 | $34.7M | 12.60% | 400,000 | SH |
| 2 | FIRSTCASH HOLDINGS INC | FCFS | 33768G107 | $33.3M | 12.08% | 177,147 | SH |
| 3 | TURNING PT BRANDS INC Call | TPB | 90041L905 | $30.6M | 11.11% | 352,900 | SH |
| 4 | CAVCO INDS INC DEL | CVCO | 149568107 | $16.0M | 5.81% | 33,040 | SH |
| 5 | AMRIZE LTD | AMRZ | H2927K103 | $10.5M | 3.82% | 188,000 | SH |
| 6 | GRAND CANYON ED INC | LOPE | 38526M106 | $9.9M | 3.58% | 58,000 | SH |
| 7 | COVISTA INC | CVSA | 00737L103 | $9.2M | 3.35% | 80,000 | SH |
| 8 | VAALCO ENERGY INC | EGY | 91851C201 | $8.9M | 3.22% | 1,400,000 | SH |
| 9 | BRITISH AMERN TOB PLC | BTI | 110448107 | $8.8M | 3.18% | 150,000 | SH |
| 10 | LAUREATE ED INC | LAUR | 518613203 | $8.6M | 3.14% | 248,000 | SH |
| 11 | MATADOR RES CO | MTDR | 576485205 | $8.5M | 3.09% | 135,000 | SH |
| 12 | AUTOZONE INC | AZO | 053332102 | $8.4M | 3.06% | 2,500 | SH |
| 13 | PEABODY ENGR CORP | BTU | 704551100 | $8.2M | 2.99% | 250,000 | SH |
| 14 | STERLING INFRASTRUCTURE INC | STRL | 859241101 | $8.1M | 2.96% | 20,000 | SH |
| 15 | NPK INTERNATIONAL INC | NPKI | 651718504 | $8.0M | 2.89% | 550,000 | SH |
| 16 | ICHOR HOLDINGS | ICHR | G4740B105 | $7.9M | 2.88% | 170,000 | SH |
| 17 | ULTRA CLEAN HLDGS INC | UCTT | 90385V107 | $7.8M | 2.82% | 125,000 | SH |
| 18 | BUILD-A-BEAR WORKSHOP INC | BBW | 120076104 | $7.0M | 2.56% | 188,251 | SH |
| 19 | TRIUMPH FINANCIAL INC | TFIN | 89679E300 | $6.6M | 2.40% | 110,659 | SH |
| 20 | ENTEGRIS INC | ENTG | 29362U104 | $6.4M | 2.34% | 55,000 | SH |
| 21 | TARGET HOSPITALITY CORP | TH | 87615L107 | $5.6M | 2.03% | 601,777 | SH |
| 22 | VERSANT MEDIA GROUP INC | VSNT | 925283103 | $5.6M | 2.01% | 150,000 | SH |
| 23 | SPROUTS FMRS MKT INC | SFM | 85208M102 | $5.0M | 1.82% | 65,000 | SH |
| 24 | PAR PAC HOLDINGS INC | PARR | 69888T207 | $3.1M | 1.14% | 50,000 | SH |
| 25 | TOPBUILD COR | BLD | 89055F103 | $2.8M | 1.02% | 8,000 | SH |
| 26 | KOSMOS ENERGY LTD | KOS | 500688106 | $2.8M | 1.01% | 1,000,000 | SH |
| 27 | AMERICOLD REALTY TRUST INC | COLD | 03064D108 | $2.0M | 0.71% | 171,774 | SH |
| 28 | GBANK FINL HLDGS INC | GBFH | 36166F100 | $757.4K | 0.27% | 28,302 | SH |
| 29 | PROSHARES TR II Put | — | 74347Y958 | $322.4K | 0.12% | 20,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-15 | $275.6M | 29 | 0001731530-26-000003 |
| 2025-12-31 | 2026-02-13 | $259.1M | 29 | 0001731530-26-000002 |
| 2025-09-30 | 2025-11-14 | $315.9M | 37 | 0001731530-25-000007 |