Makaira Partners LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Makaira Partners LLC reported 13 stock positions worth $298.2 million. Its top holding was Charter Communications Class A (CHTR) at 24.7% of the portfolio, followed by Bath & Body Works (BBWI, 16.7%) and Domino's Pizza (DPZ, 10.0%). Compared with Q4 2024, it opened 2 new positions, sold out of 1 and reduced 11. The biggest buy was a new position in Bel Fuse Class B (BELFB) and the biggest sale Progressive (PGR, shares −87%).
- Most Recent 13F
- Q1 2026
- Location
- LA JOLLA, CA
- CIK
- 0001540866
- Portfolio Value
- $298.2M (Q1 2025)
- SEC Filing
- 0001540866-25-000005 ↗ filed May 14, 2025
Holdings Value
Holdings 13 stocks · $298.2M
| CHTR Charter Communications Inc. Class A | 24.73% | 200,162 | $73.8M | Reduce -46.4% |
| BBWI Bath & Body Works Inc. | 16.66% | 1,639,039 | $49.7M | Reduce -27.6% |
| DPZ Domino's Pizza Inc. | 10.01% | 64,964 | $29.8M | Reduce -53.1% |
| LAMR Lamar Advertising Co. Class A | 8.56% | 224,260 | $25.5M | Reduce -57.7% |
| CDW CDW Corp. | 8.35% | 155,305 | $24.9M | Reduce -59.4% |
| FLUT Flutter Entertainment PLC-Di | 7.91% | 106,422 | $23.6M | Reduce -46.4% |
| KMX Carmax Inc. | 7.11% | 272,203 | $21.2M | Reduce -51.3% |
| BELFB Bel Fuse Inc. Class B | 6.17% | 245,999 | $18.4M | New |
| PGR Progressive Corp. | 4.11% | 43,323 | $12.3M | Reduce -86.8% |
| WHD Cactus Inc. Class A | 3.64% | 237,030 | $10.9M | Reduce -46.4% |
| SVV Savers Value Village Inc. | 2.50% | 1,078,437 | $7.4M | Reduce -47.5% |
| HEI.A Heico Corp. Class A | 0.15% | 2,171 | $458K | Reduce -51.5% |
| BELFA Bel Fuse Inc. Class A | 0.10% | 4,001 | $288K | New |
Portfolio Sells Q4 2024 → Q1 2025
| PGR Progressive Corp. | Reduce -86.8% | 4.11% | −8.19 |
| CDW CDW Corp. | Reduce -59.4% | 8.35% | −2.05 |
| LBRDK Liberty Broadband-C | Sold out | 0.00% | −1.96 |
| LAMR Lamar Advertising Co. Class A | Reduce -57.7% | 8.56% | −1.52 |
| SVV Savers Value Village Inc. | Reduce -47.5% | 2.50% | −0.79 |
| WHD Cactus Inc. Class A | Reduce -46.4% | 3.64% | −0.38 |
| FLUT Flutter Entertainment PLC-Di | Reduce -46.4% | 7.91% | −0.09 |
| KMX Carmax Inc. | Reduce -51.3% | 7.11% | −0.02 |
| HEI.A Heico Corp. Class A | Reduce -51.5% | 0.15% | +0.02 |
| DPZ Domino's Pizza Inc. | Reduce -53.1% | 10.01% | +0.94 |
| BBWI Bath & Body Works Inc. | Reduce -27.6% | 16.66% | +2.98 |
| CHTR Charter Communications Inc. Class A | Reduce -46.4% | 24.73% | +4.78 |
Portfolio Buys Q4 2024 → Q1 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q1 2026 | 0 | $0 | |
| Q4 2025 | 11 | $127.9M | CHTR, DPZ, LAMR, BBWI, CDW |
| Q3 2025 | 12 | $194.7M | CHTR, BBWI, LAMR, FLUT, DPZ |
| Q2 2025 | 13 | $328.7M | CHTR, BBWI, FLUT, DPZ, CDW |
| Q1 2025 | 13 | $298.2M | CHTR, BBWI, DPZ, LAMR, CDW |
| Q4 2024Amended | 12 | $641.1M | CHTR, BBWI, PGR, CDW, LAMR |
| Q3 2024 | 12 | $777.7M | PGR, CHTR, LAMR, CDW, BBWI |
| Q2 2024 | 11 | $771.0M | PGR, CHTR, LAMR, BBWI, CDW |
| Q1 2024 | 10 | $828.7M | PGR, BBWI, CDW, CHTR, LAMR |