First Sabrepoint Capital Management LP In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 15, 2024), First Sabrepoint Capital Management LP reported 29 stock positions worth $259.4 million . Its top holding was Firstcash (FCFS) at 8.9% of the portfolio, followed by Vistra (VST, 6.9% ) and Walker & Dunlop (WD, 6.6% ). Compared with Q2 2024, it opened 9 new positions, sold out of 7, added to 5 and reduced 11. The biggest buy was a new position in Vistra (VST) and the biggest sale an exit from Gxo Logistics (GXO).
Location DALLAS, TX
CIK 0001731530
Portfolio Value $259.4M (Q3 2024) Holdings 29 stocks · $259.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2024 FCFS Firstcash Holdings Inc. 200,000 $23.0M Add +21.2% VST Vistra Corp. 150,000 $17.8M New WD Walker & Dunlop Inc. 150,000 $17.0M Add +100.0% LAUR Laureate Education Inc. 1,000,000 $16.6M Reduce -19.9% MAA Mid-America Apartment Comm 100,000 $15.9M Reduce -28.6% MSFT Microsoft Corp. 35,000 $15.1M No change PM Philip Morris International 100,000 $12.1M No change EEFT Euronet Worldwide Inc. 109,768 $10.9M Reduce -6.2% STRL Sterling Infrastructure Inc. 70,000 $10.2M Add +7.7% CPT Camden Property Trust 80,000 $9.9M Add +6.7% WSC Willscot Holdings Corp. 238,143 $9.0M Add +17.5% EGY Vaalco Energy Inc. 1,450,000 $8.3M Reduce -3.6% PYPL PayPal Holdings Inc. 105,000 $8.2M New AESI Atlas Energy Solutions Inc. 370,000 $8.1M New TFIN Triumph Financial Inc. 100,000 $8.0M Reduce -38.8% TPB Turning Point Brands Inc. 174,203 $7.5M New OABI Omniab Inc. 1,665,000 $7.0M Reduce -11.2% TLN Talen Energy Corp. 35,000 $6.2M New AZO AutoZone Inc. 1,850 $5.8M Reduce -38.3% CVCO Cavco Industries Inc. 12,750 $5.5M Reduce -13.3% MTH Meritage Homes Corp. 26,000 $5.3M Reduce -32.5% OLN Olin Corp. 110,000 $5.3M New GRBK Green Brick Partners Inc. 60,000 $5.0M Reduce -66.5% DHI D.R. Horton Inc. 25,500 $4.9M No change BLD Topbuild Corp. 11,200 $4.6M Reduce -17.0% NVR NVR Inc. 430 $4.2M No change NVGS Navigator Holdings Ltd. 186,296 $3.0M New IMXI International Money Express 148,821 $2.8M New LOPE Grand Canyon Education Inc. 16,850 $2.4M New
Options reported separately and not counted above: FIRSTCASH HOLDINGS INC calls ($14.9M), GOOSEHEAD INS INC puts ($9.8M), IRON MTN INC DEL puts ($9.0M), GRAND CANYON ED INC calls ($8.5M), HARROW INC puts ($8.1M), NEW FORTRESS ENERGY INC puts ($4.8M), INARI MED INC puts ($4.6M), PROCEPT BIOROBOTICS CORP puts ($4.1M), INSEEGO CORP puts ($3.4M), HA SUSTAINABLE INFRA CAP INC puts ($3.3M), BANCORP INC DEL puts ($2.9M), MEDICAL PPTYS TRUST INC puts ($2.9M), and 5 more.
Portfolio Sells Q2 2024 → Q3 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▲ GXO Gxo Logistics Inc. Sold out 0.00% −4.48 CRH CRH PLC Sold out 0.00% −4.28 WDC Western Digital Corp. Sold out 0.00% −4.01 TFIN Triumph Financial Inc. Reduce -38.8% 3.07% −2.58 GRBK Green Brick Partners Inc. Reduce -66.5% 1.93% −2.40 MAA Mid-America Apartment Comm Reduce -28.6% 6.13% −2.32 AZO AutoZone Inc. Reduce -38.3% 2.25% −1.51 LAUR Laureate Education Inc. Reduce -19.9% 6.40% −1.49 BTDR Bitdeer Technologies Group-A Sold out 0.00% −1.13 STX Seagate Technology Holdings Sold out 0.00% −1.09 AE Adams Resources & Energy Inc. Sold out 0.00% −0.96 EEFT Euronet Worldwide Inc. Reduce -6.2% 4.20% −0.92 EGY Vaalco Energy Inc. Reduce -3.6% 3.21% −0.78 WLY Wiley (john) & Sons Class A Sold out 0.00% −0.74 MTH Meritage Homes Corp. Reduce -32.5% 2.06% −0.58 BLD Topbuild Corp. Reduce -17.0% 1.76% −0.44 OABI Omniab Inc. Reduce -11.2% 2.72% −0.26 CVCO Cavco Industries Inc. Reduce -13.3% 2.11% −0.05
Portfolio Buys Q2 2024 → Q3 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▼ VST Vistra Corp. New 6.86% +6.86 WD Walker & Dunlop Inc. Add +100.0% 6.57% +3.45 PYPL PayPal Holdings Inc. New 3.16% +3.16 AESI Atlas Energy Solutions Inc. New 3.11% +3.11 TPB Turning Point Brands Inc. New 2.90% +2.90 TLN Talen Energy Corp. New 2.41% +2.41 OLN Olin Corp. New 2.03% +2.03 FCFS Firstcash Holdings Inc. Add +21.2% 8.85% +1.53 NVGS Navigator Holdings Ltd. New 1.15% +1.15 IMXI International Money Express New 1.06% +1.06 LOPE Grand Canyon Education Inc. New 0.92% +0.92 STRL Sterling Infrastructure Inc. Add +7.7% 3.91% +0.66 CPT Camden Property Trust Add +6.7% 3.81% +0.35 WSC Willscot Holdings Corp. Add +17.5% 3.45% +0.23
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ FIRSTCASH HOLDINGS INC call Reduce -60.6% 129,500 $14.9M GOOSEHEAD INS INC put Add +142.9% 109,800 $9.8M HARROW INC put New 180,000 $8.1M ENPHASE ENERGY INC put Sold out 75,000 $7.5Mbefore exit CHART INDS INC put Sold out 35,000 $5.1Mbefore exit NEW FORTRESS ENERGY INC put Add +483.3% 525,000 $4.8M INARI MED INC put Add +2116.0% 110,800 $4.6M PROCEPT BIOROBOTICS CORP put Reduce -76.9% 51,000 $4.1M INSEEGO CORP put New 207,000 $3.4M HA SUSTAINABLE INFRA CAP INC put New 95,000 $3.3M BANCORP INC DEL put New 55,000 $2.9M HA SUSTAINABLE INFRA CAP INC put Sold out 95,000 $2.8Mbefore exit GOLD COM INC put New 55,200 $2.4M WESTROCK CO put New 370,700 $2.4M WESTROCK COFFEE CO put Sold out 200,000 $2.0Mbefore exit SWEETGREEN INC put Reduce -16.7% 50,000 $1.8M VITAL FARMS INC put Reduce -30.0% 35,000 $1.2M ENOVIX CORPORATION put Sold out 65,000 $1.0Mbefore exit FLUENCE ENERGY INC put Sold out 42,500 $737Kbefore exit SOUNDHOUND AI INC put Sold out 150,000 $593Kbefore exit POWELL INDS INC put Sold out 4,000 $574Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 20 $234.0M TPB, FCFS, STRL, EGY, TFIN Q1 2026 27 $244.6M TPB, FCFS, CVCO, AMRZ, LOPE Q4 2025 24 $243.2M TPB, FCFS, LAUR, CVCO, CVSA Q3 2025 18 $247.7M TPB, FCFS, LAUR, CVCO, MSFT Q2 2025 23 $233.7M TPB, FCFS, LAUR, MSFT, BTI Q1 2025 27 $239.1M TPB, FCFS, LAUR, MAA, PM Q4 2024 32 $267.1M LAUR, TPB, MSFT, FCFS, MAA Q3 2024 29 $259.4M FCFS, VST, WD, LAUR, MAA Q2 2024 27 $236.5M MAA, LAUR, FCFS, MSFT, TFIN Q1 2024 26 $224.6M AESI, CRH, WSC, MSFT, FCFS