FIRST SABREPOINT CAPITAL MANAGEMENT LP

Q3 2025 13F-HR Holdings

Location
Dallas, TX
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
37
Total value ($000)
$315,925
Net value change ($000)
+35,296 (12.6%)
New positions
1
Sold out positions
6
Turnover %
10.4%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/14/2025 Next filing: 2/13/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
TPB 9,236 30.5%
AMRZ 8,148 164.4%
CVCO 7,293 56.0%
FCFS 4,656 17.2%
LAUR 4,190 19.9%
STRL 2,730 23.7%
OPRA 2,683 NEW
PGNY 2,472 48.9%
WD 1,788 21.7%
AZO 1,069 15.6%
Top Reduces (Value $000, Stocks/ETFs)
CPT -7,325 -100.0%
BL -5,662 -100.0%
AESI -4,680 -100.0%
HAS -4,514 -29.8%
MAA -3,416 -30.8%
NVR -2,733 -100.0%
GOGO -2,496 -100.0%
LOPE -974 -12.9%
BBW -117 -100.0%
BTI -111 -0.7%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 68,178 (21.6% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type