FIRST SABREPOINT CAPITAL MANAGEMENT LP — 13F Holdings & Portfolio
CIK 1731530 · latest 13F-HR filed 2026-08-14
FIRST SABREPOINT CAPITAL MANAGEMENT LP manages $304.1M in 13F-reported U.S. long-equity assets across 27 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are TPB (13.39%), FCFS (12.24%), TPB (10.87%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 3 new positions, exited 10, added to 11, and trimmed 4.
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.
SUITE 920
DALLAS, TX 75231
$304.1M
Long-equity book
27
Distinct positions
2026-06-30
Filed 2026-08-14
+3 / −10 / ↑11 / ↓4
vs 2026-03-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- STERLING INFRASTRUCTURE INC$8.6M +106.1%
- VAALCO ENERGY INC$7.9M +88.9%
- TURNING PT BRANDS INC$6.0M +17.3%
- TRIUMPH FINANCIAL INC$5.2M +79.2%
- FIRSTCASH HOLDINGS INC$3.9M +11.8%
Top Trims
- CAVCO INDS INC DEL-$4.6M -29.0%
- AUTOZONE INC-$3.7M -43.2%
- KOSMOS ENERGY LTD-$670.0K -24.1%
- BUILD-A-BEAR WORKSHOP INC-$602.2K -8.5%
Exited Positions
- GRAND CANYON ED INC$9.9M
- COVISTA INC$9.2M
- PEABODY ENGR CORP$8.2M
- ICHOR HOLDINGS$7.9M
- ENTEGRIS 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 | $40.7M | 13.39% | 480,000 | SH |
| 2 | FIRSTCASH HOLDINGS INC | FCFS | 33768G107 | $37.2M | 12.24% | 172,103 | SH |
| 3 | TURNING PT BRANDS INC Call | TPB | 90041L905 | $33.1M | 10.87% | 389,800 | SH |
| 4 | UNITED STS BRENT OIL FD LP Call | BNO | 91167Q900 | $18.3M | 6.02% | 450,000 | SH |
| 5 | STERLING INFRASTRUCTURE INC | STRL | 859241101 | $16.8M | 5.52% | 20,000 | SH |
| 6 | VAALCO ENERGY INC | EGY | 91851C201 | $16.8M | 5.51% | 3,300,000 | SH |
| 7 | TRIUMPH FINANCIAL INC | TFIN | 89679E300 | $11.8M | 3.89% | 155,000 | SH |
| 8 | CAVCO INDS INC DEL | CVCO | 149568107 | $11.4M | 3.74% | 18,500 | SH |
| 9 | AMRIZE LTD | AMRZ | H2927K103 | $10.7M | 3.51% | 200,000 | SH |
| 10 | ULTRA CLEAN HLDGS INC | UCTT | 90385V107 | $10.0M | 3.28% | 70,000 | SH |
| 11 | BRITISH AMERN TOB PLC | BTI | 110448107 | $9.9M | 3.25% | 160,000 | SH |
| 12 | NPK INTERNATIONAL INC | NPKI | 651718504 | $9.5M | 3.14% | 600,000 | SH |
| 13 | LAUREATE ED INC | LAUR | 518613203 | $9.0M | 2.97% | 248,640 | SH |
| 14 | MATADOR RES CO | MTDR | 576485205 | $9.0M | 2.95% | 180,000 | SH |
| 15 | TARGET HOSPITALITY CORP | TH | 87615L107 | $8.6M | 2.81% | 420,000 | SH |
| 16 | TRIUMPH FINANCIAL INC Call | TFIN | 89679E900 | $7.6M | 2.51% | 100,000 | SH |
| 17 | BUILD-A-BEAR WORKSHOP INC | BBW | 120076104 | $6.4M | 2.12% | 210,645 | SH |
| 18 | FIRSTCASH HOLDINGS INC Call | FCFS | 33768G907 | $6.3M | 2.08% | 29,300 | SH |
| 19 | SPROUTS FMRS MKT INC | SFM | 85208M102 | $5.5M | 1.81% | 65,000 | SH |
| 20 | RUSH ENTERPRISES INC | RUSHA | 781846209 | $5.5M | 1.80% | 75,000 | SH |
| 21 | LIFEWAY FOODS INC | LWAY | 531914109 | $5.1M | 1.67% | 170,000 | SH |
| 22 | AUTOZONE INC | AZO | 053332102 | $4.8M | 1.58% | 1,500 | SH |
| 23 | BOOT BARN HLDGS INC | BOOT | 099406100 | $3.3M | 1.08% | 20,000 | SH |
| 24 | ALASKA AIR GROUP INC Put | ALK | 011659959 | $2.6M | 0.86% | 50,000 | SH |
| 25 | KOSMOS ENERGY LTD | KOS | 500688106 | $2.1M | 0.69% | 1,000,000 | SH |
| 26 | UNITED STS OIL FD LP Call | USO | 91232N907 | $1.9M | 0.61% | 17,400 | SH |
| 27 | PROSHARES TR II Put | — | 74347Y954 | $274.4K | 0.09% | 10,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $304.1M | 27 | 0001731530-26-000004 |
| 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 |