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FIRST SABREPOINT CAPITAL MANAGEMENT LP

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13F filer, CIK 1731530, DALLAS, TX

FIRST SABREPOINT CAPITAL MANAGEMENT LP reported $275,593,188 across 29 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-15. Its ten largest share positions make up 60.68% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001731530-26-000003

Period
2026-03-31
Reported value
$276M
Holdings
29
Top 10 weight
60.68%
New
11
Sold out
11

Largest buys vs the previous quarter

SecurityShares changeApprox. value
MTDRnew+135,000$8.53M
ICHRnew+170,000$7.92M
UCTTnew+125,000$7.77M
BBWnew+188,251$7.05M
ENTGnew+55,000$6.45M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
MSFTexited-25,000-$12.1M
LAURreduced-252,000-$8.78M
AGMexited-44,500-$7.81M
HASexited-94,765-$7.77M
EEFTexited-101,155-$7.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2026

Share positions as resolved from 13F-HR 0001731530-26-000003, largest first. % of portfolio is the value over $244,642,597, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
TPBTURNING PT BRANDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 174,203 shares; 2024Q4: 280,000 shares; 2025Q1: 376,800 shares; 2025Q2: 400,000 shares; 2025Q3: 400,000 shares; 2025Q4: 400,000 shares; 2026Q1: 400,000 shares 400,000$34.7M14.19%0Timeline
FCFSFIRSTCASH HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 200,000 shares; 2024Q4: 138,915 shares; 2025Q1: 165,001 shares; 2025Q2: 200,000 shares; 2025Q3: 200,000 shares; 2025Q4: 195,000 shares; 2026Q1: 177,147 shares 177,147$33.3M13.61%-17,853Timeline
CVCOCAVCO INDS INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 12,750 shares; 2024Q4: 12,750 shares; 2025Q1: 15,000 shares; 2025Q2: 30,000 shares; 2025Q3: 35,000 shares; 2025Q4: 27,000 shares; 2026Q1: 33,040 shares 33,040$16M6.54%+6,040Timeline
AMRZAMRIZE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 100,000 shares; 2025Q3: 270,000 shares; 2025Q4: 200,000 shares; 2026Q1: 188,000 shares 188,000$10.5M4.3%-12,000Timeline
LOPEGRAND CANYON ED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 16,850 shares; 2024Q4: 75,000 shares; 2025Q1: 60,000 shares; 2025Q2: 40,000 shares; 2025Q3: 30,000 shares; 2025Q4: 50,000 shares; 2026Q1: 58,000 shares 58,000$9.86M4.03%+8,000Timeline
CVSACOVISTA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 135,000 shares; 2026Q1: 80,000 shares 80,000$9.22M3.77%-55,000Timeline
EGYVAALCO ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,450,000 shares; 2024Q4: 1,950,000 shares; 2025Q1: 2,000,000 shares; 2025Q2: 2,000,000 shares; 2025Q3: 1,900,000 shares; 2025Q4: 1,510,000 shares; 2026Q1: 1,400,000 shares 1,400,000$8.88M3.63%-110,000Timeline
BTIBRITISH AMERN TOB PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 185,000 shares; 2025Q2: 350,000 shares; 2025Q3: 310,000 shares; 2025Q4: 150,000 shares; 2026Q1: 150,000 shares 150,000$8.77M3.59%0Timeline
LAURLAUREATE ED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,000,000 shares; 2024Q4: 1,075,000 shares; 2025Q1: 915,000 shares; 2025Q2: 900,000 shares; 2025Q3: 800,000 shares; 2025Q4: 500,000 shares; 2026Q1: 248,000 shares 248,000$8.64M3.53%-252,000Timeline
MTDRMATADOR RES COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 135,000 shares 135,000$8.53M3.49%newTimeline
AZOAUTOZONE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,850 shares; 2024Q4: 1,850 shares; 2025Q1: 1,850 shares; 2025Q2: 1,850 shares; 2025Q3: 1,850 shares; 2025Q4: 3,000 shares; 2026Q1: 2,500 shares 2,500$8.44M3.45%-500Timeline
BTUPEABODY ENGR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 100,000 shares; 2026Q1: 250,000 shares 250,000$8.24M3.37%+150,000Timeline
STRLSTERLING INFRASTRUCTURE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 70,000 shares; 2024Q4: 70,000 shares; 2025Q1: 72,500 shares; 2025Q2: 50,000 shares; 2025Q3: 42,000 shares; 2025Q4: 30,000 shares; 2026Q1: 20,000 shares 20,000$8.15M3.33%-10,000Timeline
NPKINPK INTERNATIONAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 650,000 shares; 2026Q1: 550,000 shares 550,000$7.97M3.26%-100,000Timeline
ICHRICHOR HOLDINGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 170,000 shares 170,000$7.92M3.24%newTimeline
UCTTULTRA CLEAN HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 125,000 shares 125,000$7.77M3.18%newTimeline
BBWBUILD-A-BEAR WORKSHOP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,262 shares; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 188,251 shares 188,251$7.05M2.88%newTimeline
TFINTRIUMPH FINANCIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 67,488 shares; 2025Q1: 80,000 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 89,692 shares; 2026Q1: 110,659 shares 110,659$6.6M2.7%+20,967Timeline
ENTGENTEGRIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 55,000 shares 55,000$6.45M2.64%newTimeline
THTARGET HOSPITALITY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 150,000 shares; 2026Q1: 601,777 shares 601,777$5.58M2.28%+451,777Timeline
VSNTVERSANT MEDIA GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 150,000 shares 150,000$5.55M2.27%newTimeline
SFMSPROUTS FMRS MKT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 65,000 shares 65,000$5.01M2.05%newTimeline
PARRPAR PAC HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 50,000 shares 50,000$3.13M1.28%newTimeline
BLDTOPBUILD CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 11,200 shares; 2024Q4: 25,000 shares; 2025Q1: 18,000 shares; 2025Q2: 8,000 shares; 2025Q3: 8,000 shares; 2025Q4: 8,000 shares; 2026Q1: 8,000 shares 8,000$2.81M1.15%0Timeline
KOSKOSMOS ENERGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 1,000,000 shares 1,000,000$2.78M1.14%newTimeline
COLDAMERICOLD REALTY TRUST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 171,774 shares 171,774$1.97M0.8%newTimeline
GBFHGBANK FINL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 110,000 shares; 2026Q1: 28,302 shares 28,302$757K0.31%-81,698Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
TURNING PT BRANDS INCTURNING PT BRANDS INC CALLcall352,900$30.6M+265,900
PROSHARES TR IIPROSHARES TR II ULTRASHORT GOLDput20,000$322Knew

Sold out in Q1 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
MSFTMICROSOFT CORP25,000$12.1Mshares
AGMFEDERAL AGRIC MTG CORP44,500$7.81Mshares
HASHASBRO INC94,765$7.77Mshares
EEFTEURONET WORLDWIDE INC101,155$7.7Mshares
PGNYPROGYNY INC250,000$6.42Mshares
EURONET WORLDWIDE INCEURONET WORLDWIDE INC30,000$2.28Mcall
AST SPACEMOBILE INCAST SPACEMOBILE INC30,000$2.18Mput
WDWALKER & DUNLOP INC30,000$1.8Mshares
AMPRIUS TECHNOLOGIES INCAMPRIUS TECHNOLOGIES INC180,600$1.42Mput
COOKTRAEGER INC COM1,219,575$1.32Mshares
UNUSUAL MACHS INCUNUSUAL MACHS INC50,000$637Kput

How Q1 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001731530-26-000003 base2026-05-15acceptance time not in the bulk data set