13F-HR 1 form13fhr04670_03312008.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2008 Check here if Amendment / /; Amendment Number: _____ This Amendment (Check only one): / / is a restatement. / / adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Newcastle Partners, L.P. Address: 200 Crescent Court, Suite 1400 Dallas, Texas 75201 Form 13F File Number: 28-11174 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Mark E. Schwarz Title: Managing Member of General Partner of General Partner Phone: (214) 661-7474 Signature, Place, and Date of Signing: /s/ Mark E. Schwarz, Dallas, Texas, May 15, 2008 ------------------- Report Type (Check only one): /X/ 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) / / 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) / / 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 ------------ Form 13F Information Table Entry Total: 47 ------------ Form 13F Information Table Value Total: $ 502,034 ------------ (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1 28-11175 Mark E. Schwarz ----- -------------------- ------------------------ FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 -------- -------- -------- -------- -------- -------- -------- -------- VOTING AUTHORITY TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER NAME OF ISSUER CLASS CUSIP (X$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- ----- ----- -------- ------- --- ---- ---------- -------- ---- ------ ---- A H BELO CORP COM CL A 001282102 2,317 202,700 SH OTHER 1 0 202,700 0 ACXIOM CORP COM 005125109 14,687 1,237,256 SH OTHER 1 0 1,237,256 0 ALFA CORP COM 015385107 2,819 128,256 SH OTHER 1 0 128,256 0 ALLIANCE DATA SYSTEMS CORP COM 018581108 3,297 69,400 SH OTHER 1 0 69,400 0 AMCOMP INC COM 02342J101 14,557 1,191,215 SH OTHER 1 0 1,191,215 0 AMERICAN SAFETY INS HLDGS LT ORD G02995101 1,710 100,000 SH OTHER 1 0 100,000 0 AMERICA SVC GROUP INC COM 02364L109 361 59,584 SH OTHER 1 0 59,584 0 ARGO GROUP INTL HLDGS LTD COM G0464B107 14,877 418,829 SH OTHER 1 0 418,829 0 BCE INC COM NEW 05534B760 2,867 120,600 SH OTHER 1 0 120,600 0 BELL INDS INC COM 078107109 435 565,099 SH OTHER 1 0 565,099 0 BELO CORP COM SER A 080555105 10,850 1,026,500 SH OTHER 1 0 1,026,500 0 BLADELOGIC INC COM 09265M102 2,805 100,000 SH OTHER 1 0 100,000 0 CLEAR CHANNEL COMMUNICATIONS COM 184502102 2,980 102,000 SH OTHER 1 0 102,000 0 COLLAGENEX PHARMACEUTICALS I COM 19419B100 6,098 367,997 SH OTHER 1 0 367,997 0 COMMERCE GROUP INC MASS COM 200641108 14,067 390,081 SH OTHER 1 0 390,081 0 CONSECO INC COM NEW 208464883 120 11,800 SH OTHER 1 0 11,800 0 COVIDIEN LTD COM G2552X108 3,445 77,850 SH OTHER 1 0 77,850 0 DATASCOPE CORP COM 238113104 319 7,700 SH OTHER 1 0 7,700 0 FAIRCHILD CORP CL A 303698104 589 255,976 SH OTHER 1 0 255,976 0 FLAGSTONE REINSURANCE HLDGS SHS G3529T105 932 77,000 SH OTHER 1 0 77,000 0 HALLMARK FINL SVCS INC EC COM 40624Q203 162,162 14,530,624 SH OTHER 1 0 14,530,624 0 HIGHLAND CR STRATEGIES FD COM 43005Q107 4,344 333,703 SH OTHER 1 0 333,703 0 IPC HLDGS LTD ORD G4933P101 14,647 523,090 SH OTHER 1 0 523,090 0 LIBERTY MEDIA CORP NEW INT COM 53071M104 23,227 1,439,125 SH OTHER 1 0 1,439,125 0 SER A M & F WORLDWIDE CORP COM 552541104 24,281 649,400 SH OTHER 1 0 649,400 0 MIDLAND CO COM 597486109 10,421 160,492 SH OTHER 1 0 160,492 0 NASHUA CORP COM 631226107 11,678 1,062,576 SH OTHER 1 0 1,062,576 0 NAVTEQ CORP COM 63936L100 10,540 155,000 SH OTHER 1 0 155,000 0 NORTH POINTE HLDGS CORP COM 661696104 2,215 140,206 SH OTHER 1 0 140,206 0 NUTRI SYS INC NEW COM 67069D108 16,840 1,117,418 SH OTHER 1 0 1,117,418 0 OPENWAVE SYS INC COM NEW 683718308 164 66,750 SH OTHER 1 0 66,750 0 PERFORMANCE FOOD GROUP CO COM 713755106 6,046 185,000 SH OTHER 1 0 185,000 0 PIZZA INN INC NEW COM 725848105 12,377 4,760,550 SH OTHER 1 0 4,760,550 0 PLAYBOY ENTERPRISES INC CL B 728117300 1,645 197,500 SH OTHER 1 0 197,500 0 PROCENTURY CORP COM 74268T108 1,648 91,557 SH OTHER 1 0 91,557 0 QUINTANA MARITIME LTD SHS Y7169G109 7,388 312,000 SH OTHER 1 0 312,000 0 SENSIENT TECHNOLOGIES CORP COM 81725T100 5,411 183,500 SH OTHER 1 0 183,500 0 S L INDS INC COM 784413106 4,325 217,349 SH OTHER 1 0 217,349 0 SPECIALTY UNDERWRITERS ALLIA COM 84751T309 69 16,300 SH OTHER 1 0 16,300 0 TORONTO DOMINION BK ONT COM NEW 891160509 8,894 144,970 SH OTHER 1 0 144,970 0 TRANE INC COM 892893108 15,377 335,000 SH OTHER 1 0 335,000 0 TYCO INTL LTD BERMUDA SHS G9143X208 3,429 77,850 SH OTHER 1 0 77,850 0 TYCO ELECTRONICS LTD COM NEW G9144P105 2,672 77,850 SH OTHER 1 0 77,850 0 UAP HLDG CORP COM 903441103 8,063 210,300 SH OTHER 1 0 210,300 0 UNIFIRST CORP MASS COM 904708104 1,702 45,900 SH OTHER 1 0 45,900 0 UNITED RENTALS INC COM 911363109 1,317 55,000 SH OTHER 1 0 55,000 0 UNUM GROUP CORP COM 91529Y106 41,020 1,863,700 SH OTHER 1 0 1,863,700 0