Sec Form 13G Filing - FIRST SABREPOINT CAPITAL MANAGEMENT LP filing for SEMrush Holdings Inc. (SEMR) - 2022-02-14

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.1)*

SEMrush Holdings, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
81686C104
(CUSIP Number)
April 23, 2021
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:

[ ] Rule 13d-1(b)
[x]Rule 13d-1(c)
[ ]Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover
page shall not be deemed to be "filed" for the purpose of
Section 18 of the Securities Exchange Act of 1934 ("Act") or
otherwise subject to the liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 81686C104
 1.
Names of Reporting Persons.
 First Sabrepoint Capital Management, LP

 2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [x]

 3.
SEC Use Only

 4.
Citizenship or Place of Organization
Texas

5.
Sole Voting Power
   0

6.
Shared Voting Power
1,137,248

7.
Sole Dispositive Power
   0

8.
Shared Dispositive Power
1,137,248

9.
Aggregate Amount Beneficially Owned by Each Reporting Person
1,137,248
10.
Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ]

11.
Percent of Class Represented by Amount in Row (9)
5.1%

12.
Type of Reporting Person (See Instructions)
 PN, IA



CUSIP No.  81686C104
 1.
Names of Reporting Persons.
Sabrepoint Capital Participation, LP

 2.
Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [x]

 3.
SEC Use Only

 4.
Citizenship or Place of Organization
Delaware

5.
Sole Voting Power
   0

6.
Shared Voting Power
1,137,248

7.
Sole Dispositive Power
   0

8.
Shared Dispositive Power
1,137,248
 9.
Aggregate Amount Beneficially Owned by Each Reporting Person
1,137,248

10.
Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ]
11.
Percent of Class Represented by Amount in Row (9)
5.1%

12.
Type of Reporting Person (See Instructions)
 PN







CUSIP No.  81686C104
 1.
Names of Reporting Persons.
Sabrepoint Capital Partners, LP
 2.
Check the Appropriate Box if a Member of a Group [ ]
(a) [ ]
(b) [x]
 3.
SEC Use Only
 4.
Citizenship or Place of Organization
Delaware

5.
Sole Voting Power
   0

6.
Shared Voting Power
1,137,248
With:
7.
Sole Dispositive Power
   0

8.
Shared Dispositive Power
1,137,248
9.
Aggregate Amount Beneficially Owned by Each Reporting Person
1,137,248
10.
Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ]
11.
Percent of Class Represented by Amount in Row (9)
5.1%
12.
Type of Reporting Person (See Instructions)
 PN





CUSIP No.  81686C104
 1.
Names of Reporting Persons.
George Hiland Baxter
 2.
Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [x]
 3.
SEC Use Only
 4.
Citizenship or Place of Organization
 United States

5.
Sole Voting Power
  0

6.
Shared Voting Power
1,137,248

7.
Sole Dispositive Power
  0

8.
Shared Dispositive Power
1,137,248
 9.
Aggregate Amount Beneficially Owned by Each Reporting Person
1,137,248
10.
 Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ]


11.
Percent of Class Represented by Amount in Row (9)
5.1%
12.
Type of Reporting Person (See Instructions)
 IN, HC

Item  1.

(a)	Name of Issuer
SEMrush Holdings, Inc.

(b)	Address of Issuer's Principal Executive Offices

800 Boylston Street Suite 2475
Boston, MA 02199

Item 2.
(a) Name of Persons Filing
This statement is being jointly filed by and on behalf of each of
First Sabrepoint Capital Management, LP, a Texas limited partnership
("Sabrepoint"), Sabrepoint Capital Participation, LP, a Delaware limited
partnership ("the General Partner"), Sabrepoint Capital Partners, LP, a
Delaware limited partnership (the "Fund"), and George Hiland Baxter.

The Fund is the record and direct beneficial owner of the securities covered by
this statement. The General Partner is the general partner of, and may be deemed
to beneficially own securities owned by, the Fund. As the investment adviser
to the Fund, Sabrepoint may be deemed to beneficially own the securities
covered by this statement. Mr. Baxter is the Managing Partner of, and
may be deemed to beneficially own securities owned by, Sabrepoint.

Each reporting person declares that neither the filing of this statement nor
anything herein shall be construed as an admission that such person is,
for the purposes of Section 13(d) or 13(g) of the Act or any other purpose,
the beneficial owner of any securities covered by this statement.

Each reporting person may be deemed to be a member of a group with respect
to the issuer or securities of the issuer for the purposes of Section 13(d)
or 13(g) of the Act. Each reporting person declares that neither the filing
of this statement nor anything herein shall be construed as an admission that
such person is, for the purposes of Section 13(d) or 13(g) of the Act or
any other purpose, (i) acting (or has agreed or is agreeing to act together
with any other person) as a partnership, limited partnership, syndicate,
or other group for the purpose of acquiring, holding, or disposing of
securities of the issuer or otherwise with respect to the issuer or any
securities of the issuer or (ii) a member of any group with respect
to the issuer or any securities of the issuer.

(b)	Address of Principal Business Office or, if none, Residence.
8750 North Central Expressway, Suite 920,
Dallas, Texas 75231.

(c)	Citizenship
See Item 4 on the cover page(s) hereto.

(d)	Title of Class of Securities
Common Stock

(e)	CUSIP Number
 81686C104

Item 3. If this statement is filed pursuant to 240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is:
(a)	[ ]   A broker or dealer registered under Section 15 of
the Act (15 U.S.C. 78o);
(b)	[ ]    A bank as defined in Section 3(a)(6) of
the Act (15 U.S.C. 78c);
(c)	[ ]    An insurance company as defined in Section 3(a)(19) of
the Act (15 U.S.C. 78c);
(d)	[ ] An investment company registered under Section 8 of
the Investment Company Act of 1940 (15 U.S.C.
80a-8);
(e)	[ ]  An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E);
( f) 	[ ] An employee benefit plan or endowment fund in accordance
with 240.13d-1(b)(1)(ii)(F);
(g)	[ ] A parent holding company or control person in accordance with
240.13d -1(b)(1)(ii)(G);
(h)	[ ]    A savings associations as defined in Section 3(b)
of the Federal Deposit Insurance Act (12 U.S.C.
1813);
(i)    [ ]A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j)    [ ]   A non -U.S. institution in accordance with
240.13d-1(b)(1)(ii)(J);
(k)    [ ]  A group, in accordance with 240.13d-1(b)(1)(ii)(K).
     If filing as a non-U.S. institution in accordance with Rule
13d-1(b)(1)(ii)(J), please specify the type of institution: .

Item 4. Ownership.
(a)	Amount beneficially owned: See Item 9 on the cover page(s) hereto.
(b)	Percent of class: See Item 11 on the cover page(s) hereto.
(c)	Number of shares as to which such person has:
(i)	Sole power to vote or to direct the vote: See Item 5 on the cover
page(s) hereto.
(ii)	Shared power to vote or to direct the vote: See Item 6 on the cover
page(s) hereto.
(iii)	Sole power to dispose or to direct the disposition of: See Item 7
on the cover page(s) hereto.
(iv)	Shared power to dispose or to direct the disposition of: See Item 8
on the cover page(s) hereto.

Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased
to be the beneficial owner of more than five percent of the
class of securities, check the following [X].

Item  6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.

Item  7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on
by the Parent Holding Company or Control Person.
Not Applicable.

Item  8. Identification and Classification of Members of the Group.
Not Applicable.

Item  9. Notice of Dissolution of Group.
Not Applicable.

Item  10. Certifications.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are
not held in connection with or as a participant in any
transaction having that purpose or effect other than activities
solely in connection with a nomination under
240.14a-11.

SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this
statement is true, complete and correct.

	Dated: February 14, 2022

First Sabrepoint Capital Management, LP
	  By: /s/ George Hiland Baxter

  Name:  George Hiland Baxter
Title:   Managing Partner
	Sabrepoint Capital Participation, LP
	  By: /s/ George Hiland Baxter

  Name:  George Hiland Baxter
Title:   Managing Member
  Sabrepoint Capital Partners, LP
	By: Sabrepoint Capital Participation, LP
  its general partner
	  By: /s/ George Hiland Baxter

  Name:  George Hiland Baxter
Title:   Managing Member

   George Hiland Baxter
  /s/ George Hiland Baxter

EXHIBIT INDEX

Exhibit   	Description of Exhibit


99.1 	Joint Filing Agreement (incorporated herein by reference to Exhibit
99.1 to the Schedule 13G, as amended, filed on April 26, 2021 by the reporting
persons with the Securities and Exchange
Commission).