Makaira Partners LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 17, 2025), Makaira Partners LLC reported 12 stock positions worth $194.7 million. Its top holding was Charter Communications Class A (CHTR) at 23.2% of the portfolio, followed by Bath & Body Works (BBWI, 18.1%) and Lamar Advertising Class A (LAMR, 10.7%). Compared with Q2 2025, it sold out of 1 and reduced 9. The biggest sale was an exit from Carmax (KMX).
- Most Recent 13F
- Q1 2026
- Location
- LA JOLLA, CA
- CIK
- 0001540866
- Portfolio Value
- $194.7M (Q3 2025)
- SEC Filing
- 0001540866-25-000008 ↗ filed Nov 17, 2025
Holdings Value
Holdings 12 stocks · $194.7M
| CHTR Charter Communications Inc. Class A | 23.17% | 164,000 | $45.1M | Reduce -18.1% |
| BBWI Bath & Body Works Inc. | 18.12% | 1,370,000 | $35.3M | Reduce -25.5% |
| LAMR Lamar Advertising Co. Class A | 10.69% | 170,000 | $20.8M | Reduce -24.2% |
| FLUT Flutter Entertainment PLC-Di | 10.62% | 81,422 | $20.7M | Reduce -23.5% |
| DPZ Domino's Pizza Inc. | 8.20% | 37,000 | $16.0M | Reduce -43.0% |
| CDW CDW Corp. | 8.18% | 100,000 | $15.9M | Reduce -35.6% |
| BELFB Bel Fuse Inc. Class B | 7.24% | 100,000 | $14.1M | Reduce -59.4% |
| WHD Cactus Inc. Class A | 5.34% | 263,409 | $10.4M | Reduce -26.2% |
| SVV Savers Value Village Inc. | 5.31% | 780,000 | $10.3M | Reduce -27.7% |
| LMB Limbach Holdings Inc. | 2.61% | 52,239 | $5.1M | No change |
| HEI.A Heico Corp. Class A | 0.28% | 2,171 | $552K | No change |
| BELFA Bel Fuse Inc. Class A | 0.24% | 4,001 | $466K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| KMX Carmax Inc. | Sold out | 0.00% | −5.57 |
| CHTR Charter Communications Inc. Class A | Reduce -18.1% | 23.17% | −1.72 |
| DPZ Domino's Pizza Inc. | Reduce -43.0% | 8.20% | −0.70 |
| CDW CDW Corp. | Reduce -35.6% | 8.18% | −0.26 |
| BELFB Bel Fuse Inc. Class B | Reduce -59.4% | 7.24% | −0.07 |
| WHD Cactus Inc. Class A | Reduce -26.2% | 5.34% | +0.59 |
| BBWI Bath & Body Works Inc. | Reduce -25.5% | 18.12% | +1.36 |
| FLUT Flutter Entertainment PLC-Di | Reduce -23.5% | 10.62% | +1.37 |
| SVV Savers Value Village Inc. | Reduce -27.7% | 5.31% | +1.96 |
| LAMR Lamar Advertising Co. Class A | Reduce -24.2% | 10.69% | +2.41 |
Portfolio Buys Q2 2025 → Q3 2025
| None this quarter. | |||
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 |