Makaira Partners LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Makaira Partners LLC reported 11 stock positions worth $127.9 million. Its top holding was Charter Communications Class A (CHTR) at 26.8% of the portfolio, followed by Domino's Pizza (DPZ, 12.1%) and Lamar Advertising Class A (LAMR, 11.9%). Compared with Q3 2025, it sold out of 1, added to 1 and reduced 6. The biggest buy was Limbach (LMB, shares +96%) and the biggest sale Bath & Body Works (BBWI, shares −46%).
- Most Recent 13F
- Q1 2026
- Location
- LA JOLLA, CA
- CIK
- 0001540866
- Portfolio Value
- $127.9M (Q4 2025)
- SEC Filing
- 0001420506-26-000298 ↗ filed Feb 11, 2026
Holdings Value
Holdings 11 stocks · $127.9M
| CHTR Charter Communications Inc. Class A | 26.77% | 164,000 | $34.2M | No change |
| DPZ Domino's Pizza Inc. | 12.06% | 37,000 | $15.4M | No change |
| LAMR Lamar Advertising Co. Class A | 11.88% | 120,000 | $15.2M | Reduce -29.4% |
| BBWI Bath & Body Works Inc. | 11.53% | 734,355 | $14.7M | Reduce -46.4% |
| CDW CDW Corp. | 10.65% | 100,000 | $13.6M | No change |
| BELFB Bel Fuse Inc. Class B | 7.29% | 55,000 | $9.3M | Reduce -45.0% |
| FLUT Flutter Entertainment PLC-Di | 6.96% | 41,422 | $8.9M | Reduce -49.1% |
| LMB Limbach Holdings Inc. | 6.22% | 102,239 | $8.0M | Add +95.7% |
| WHD Cactus Inc. Class A | 5.05% | 141,286 | $6.5M | Reduce -46.4% |
| SVV Savers Value Village Inc. | 1.16% | 159,110 | $1.5M | Reduce -79.6% |
| HEI.A Heico Corp. Class A | 0.43% | 2,171 | $548K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| BBWI Bath & Body Works Inc. | Reduce -46.4% | 11.53% | −6.59 |
| SVV Savers Value Village Inc. | Reduce -79.6% | 1.16% | −4.15 |
| FLUT Flutter Entertainment PLC-Di | Reduce -49.1% | 6.96% | −3.66 |
| WHD Cactus Inc. Class A | Reduce -46.4% | 5.05% | −0.29 |
| BELFA Bel Fuse Inc. Class A | Sold out | 0.00% | −0.24 |
| BELFB Bel Fuse Inc. Class B | Reduce -45.0% | 7.29% | +0.05 |
| LAMR Lamar Advertising Co. Class A | Reduce -29.4% | 11.88% | +1.19 |
Portfolio Buys Q3 2025 → Q4 2025
| LMB Limbach Holdings Inc. | Add +95.7% | 6.22% | +3.62 |
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 |