First Sabrepoint Capital Management LP Portfolio Holdings

First Sabrepoint Capital Management LP

$233 Million
Q3 2025

First Sabrepoint Capital Management LP has filed its 13F form on November 14, 2025 for Q3 2025 where it was disclosed a total value porftolio of $233 Million distributed in 37 stocks.

Among their holdings, we can observe that their the top five positions include companies like: Turning Point Brands, Inc. with a value of $39.5M, First Cash Holdings, Inc. with a value of $31.7M, Laureate Education, Inc. with a value of $25.2M, Cavco Industries Inc. with a value of $20.3M, and Microsoft Corp with a value of $18.1M.

Examining the 13F form we can see an increase of $9.91M in the current position value, from $223M to 233M.

First Sabrepoint Capital Management LP is based out at Dallas, TX

Below you can find more details about First Sabrepoint Capital Management LP portfolio as well as his latest detailed transactions.

Portfolio value $233 Million

Consumer Defensive: $87.8 Million

Consumer Cyclical: $42.8 Million

Financial Services: $41.7 Million

Technology: $18.1 Million

Industrials: $17.4 Million

Real Estate: $7.69 Million

Energy: $7.64 Million

Healthcare: $7.53 Million

Other: $2.68 Million

Stock Holdings Table

Stock	Market Cap.	Holding Value (Reported)	# of Shares.	Last Trade
TPB Turning Point Brands, Inc. Consumer Defensive	$1.78B	$39.5 Million 16.94% of portfolio	400,000	Q2 2025 Added 6.16%
FCFS First Cash Holdings, Inc. Financial Services	$7.49B	$31.7 Million 13.58% of portfolio	200,000	Q2 2025 Added 21.21%
LAUR Laureate Education, Inc. Consumer Defensive	$4.96B	$25.2 Million 10.81% of portfolio	800,000	Q3 2025 Reduced 11.11%
CVCO Cavco Industries Inc. Consumer Cyclical	$4.96B	$20.3 Million 8.71% of portfolio	35,000	Q3 2025 Added 16.67%
MSFT Microsoft Corp Technology	$3.78T	$18.1 Million 7.77% of portfolio	35,000	Q3 2023 Reduced 12.5%
BTI British American Tobacco P.L.C. Consumer Defensive	$123B	$16.5 Million 7.05% of portfolio	310,000	Q3 2025 Reduced 11.43%
STRL Sterling Construction CO Inc Industrials	$10.3B	$14.3 Million 6.11% of portfolio	42,000	Q3 2025 Reduced 16.0%
HAS Hasbro, Inc. Consumer Cyclical	$10.7B	$10.6 Million 4.55% of portfolio	140,000	Q3 2025 Reduced 31.71%
WD Walker & Dunlop, Inc. Financial Services	$2.16B	$10 Million 4.3% of portfolio	120,000	Q3 2025 Added 2.56%

AZO Autozone Inc Consumer Cyclical	$73.2B	$7.94 Million 3.4% of portfolio	1,850	Q3 2024 Reduced 38.33%
MAA Mid America Apartment Communities Inc. Real Estate	$15.1B	$7.69 Million 3.29% of portfolio	55,000	Q3 2025 Reduced 26.67%
EGY Vaalco Energy Inc Energy	$421M	$7.64 Million 3.27% of portfolio	1,900,000	Q3 2025 Reduced 5.0%
PGNY Progyny, Inc. Healthcare	$2.26B	$7.53 Million 3.23% of portfolio	350,000	Q3 2025 Added 52.17%
LOPE Grand Canyon Education, Inc. Consumer Defensive	$5.23B	$6.59 Million 2.82% of portfolio	30,000	Q3 2025 Reduced 25.0%
GRBK Green Brick Partners, Inc. Consumer Cyclical	$2.57B	$3.9 Million 1.67% of portfolio	70,000	Q3 2025 Reduced 12.15%
BLD Top Build Corp Industrials	$13.6B	$3.13 Million 1.34% of portfolio	8,000	Q2 2025 Reduced 55.56%
OPRA Opera LTD Communication Services	$1.54B	$2.68 Million 1.15% of portfolio	130,000	Q3 2025 New
Amrize LTD	-	$0 0.0% of portfolio	-	Q3 2025 Added 170.0%

Summary

Portfolio
No. of Stocks 37
Current Value $233 Million
Prior Value $223 Million
Filing
Period Q3 2025
Filing Date November 14, 2025
Form Type 13F-HR
Activity in Q3 2025
New Purchases 1 stocks
Additional Purchases 4 stocks
Sold out of 0 stocks
Reduced holdings in 8 stocks

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First Sabrepoint Capital Management LP Portfolio Holdings