An apparatus and method for fine-grained multithreading in a multipipelined processor core. According to one embodiment, a processor may include instruction fetch logic configured to assign a given one of a plurality of threads to a corresponding one of a plurality of thread groups, where each of the plurality of thread groups may comprise a subset of the plurality of threads, to issue a first instruction from one of the plurality of threads during one execution cycle, and to issue a second instruction from another one of the plurality of threads during a successive execution cycle. The processor may further include a plurality of execution units, each configured to execute instructions issued from a respective thread group.