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FIRST SABREPOINT CAPITAL MANAGEMENT LP

Q3 2025 · Filed 2025-11-14
Market Value
$235M
+2.6%
Holdings
23
-7
New Purchases
1
Added To
3
Closed
6
Reduced
8
Top 10 Concentration
82.8%
Turnover
30.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
TPB 16.85% 13.25% +3.60% $40M
CVCO 8.66% 5.70% +2.96% $20M
FCFS 13.50% 11.82% +1.69% $32M
LAUR 10.75% 9.20% +1.55% $25M
OPRA 1.14% 0.00% +1.14% $3M
STRL 6.08% 5.04% +1.04% $14M
PGNY 3.21% 2.21% +1.00% $8M
WD 4.28% 3.61% +0.67% $10M
AZO 3.38% 3.00% +0.38% $8M
BLD 1.33% 1.13% +0.20% $3M
MSFT 7.73% 7.61% +0.11% $18M
EGY 3.26% 3.16% +0.10% $8M
GRBK 2.20% 2.19% +0.01% $5M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CPT 0.00% 3.20% -3.20% $0
BL 0.00% 2.48% -2.48% $0
HAS 4.53% 6.62% -2.09% $11M
AESI 0.00% 2.05% -2.05% $0
MAA 3.28% 4.85% -1.58% $8M
NVR 0.00% 1.19% -1.19% $0
GOGO 0.00% 1.09% -1.09% $0
LOPE 2.81% 3.31% -0.50% $7M
BTI 7.01% 7.24% -0.23% $16M
BBW 0.00% 0.05% -0.05% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 1 $18M 7.7%
Large Cap 8 $60M 25.6%
Mid Cap 6 $89M 37.9%
Small Cap 8 $67M 28.7%

Portfolio Analytics

Avg Market Cap
$149.3B
Median Market Cap
$4.2B
Avg P/E
27.0
Median P/E
23.4
Avg Dividend Yield
0.02%
Avg Beta
0.94
# Stocks
23
# ETFs / Funds
0

Top Holdings (23 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TPB 16.85% 400,000 $40M $98.86 $9M
2 FCFS 13.50% 200,000 $32M $158.42 $5M
3 LAUR 10.75% 800,000 $25M $31.54 $4M -100,000 -11.1%
4 CVCO 8.66% 35,000 $20M $580.73 $7M +5,000 +16.7%
5 MSFT 7.73% 35,000 $18M $517.95 $719K
6 BTI 7.01% 310,000 $16M $53.08 -$111K -40,000 -11.4%
7 STRL 6.08% 42,000 $14M $339.68 $3M -8,000 -16.0%
8 HAS 4.53% 140,000 $11M $75.85 -$5M -65,000 -31.7%
9 WD 4.28% 120,000 $10M $83.62 $2M +3,000 +2.6%
10 AZO 3.38% 1,850 $8M $4,290.24 $1M
11 MAA 3.28% 55,000 $8M $139.73 -$3M -20,000 -26.7%
12 EGY 3.26% 1,900,000 $8M $4.02 $418K -100,000 -5.0%
13 PGNY 3.21% 350,000 $8M $21.52 $2M +120,000 +52.2%
14 LOPE 2.81% 30,000 $7M $219.52 -$974K -10,000 -25.0%
15 GRBK 2.20% 70,000 $5M $73.86 $160K -9,679 -12.2%
16 BLD 1.33% 8,000 $3M $390.86 $537K
17 OPRA 1.14% 130,000 $3M $20.64 +130,000 NEW
18 BL —% -$6M -100,000 -100.0% SOLD
19 AESI —% -$5M -350,000 -100.0% SOLD
20 CPT —% -$7M -65,000 -100.0% SOLD
21 GOGO —% -$2M -170,000 -100.0% SOLD
22 BBW —% -$117K -2,262 -100.0% SOLD
23 NVR —% -$3M -370 -100.0% SOLD

New Positions

SymbolValue% Port
OPRA $3M 1.14%

Sold Out Positions

SymbolValue% Port
AESI —%
CPT —%
BBW —%
GOGO —%
BL —%
NVR —%
View SEC EDGAR Filings for FIRST SABREPOINT CAPITAL MANAGEMENT LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms