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Makaira Partners

Makaira Partners LLC · 11 closed periods in the current 3-year detail window (latest closed period: Q3 2025 → next disclosure, 12 priced positions, +13.61% return). Every disclosed long-equity position appears in the table for its period; the Valid column shows 1 (counted in the math) or 0 (excluded — hover the row for the reason). See the methodology for the exact math.

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2025-11-172026-02-11

12 of 12 priced100.00% coverage
+13.61%
Holdings from Q3 2025 disclosure · accession 0001540866-25-000008 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
CHTR164,000$201.84$241.07$33.1M$39.54M+19.44%23.17%+4.5 bps1
BBWI1,370,000$21.45$22.41$29.39M$30.7M+4.48%18.12%+0.8 bps1
LAMR170,000$126.66$132.64$21.53M$22.55M+4.72%10.69%+0.5 bps1
FLUT81,422$191.11$144.28$15.56M$11.75M-24.50%10.62%-2.6 bps1
DPZ37,000$404.63$384.00$14.97M$14.21M-5.10%8.20%-0.4 bps1
CDW100,000$140.24$134.97$14.02M$13.5M-3.76%8.18%-0.3 bps1
BELFB100,000$141.86$238.40$14.19M$23.84M+68.05%7.24%+4.9 bps1
WHD263,409$40.00$57.34$10.54M$15.1M+43.35%5.34%+2.3 bps1
SVV780,000$7.70$11.12$6.01M$8.67M+44.42%5.31%+2.4 bps1
LMB52,239$69.14$94.61$3.61M$4.94M+36.84%2.61%+1.0 bps1
HEI-A2,171$242.37$246.99$526.19K$536.22K+1.91%0.28%+0.0 bps1
BELFA4,001$116.45$221.15$465.92K$884.82K+89.91%0.24%+0.2 bps1
Top 5 (by entry value)(5)$114.55M$118.74M+3.66%
Total(12)$163.91M$186.22M+13.61%

2025-08-142025-11-17

13 of 13 priced100.00% coverage
-17.56%
Holdings from Q2 2025 disclosure · accession 0001540866-25-000007 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
CHTR200,162$263.20$201.84$52.68M$40.4M-23.31%24.89%-5.8 bps1
BBWI1,839,039$28.71$21.45$52.8M$39.45M-25.29%16.76%-4.2 bps1
FLUT106,422$288.77$191.11$30.73M$20.34M-33.82%9.25%-3.1 bps1
DPZ64,964$450.59$404.63$29.27M$26.29M-10.20%8.90%-0.9 bps1
CDW155,305$166.09$140.24$25.79M$21.78M-15.56%8.44%-1.3 bps1
LAMR224,260$121.22$126.66$27.18M$28.4M+4.49%8.28%+0.4 bps1
BELFB245,999$132.13$141.86$32.5M$34.9M+7.36%7.31%+0.5 bps1
KMX272,203$58.14$32.11$15.83M$8.74M-44.77%5.57%-2.5 bps1
WHD357,030$40.44$40.00$14.44M$14.28M-1.09%4.75%-0.1 bps1
SVV1,078,437$11.10$7.70$11.97M$8.3M-30.63%3.35%-1.0 bps1
LMB52,239$115.13$69.14$6.01M$3.61M-39.95%2.23%-0.9 bps1
HEI-A2,171$242.85$242.37$527.23K$526.19K-0.20%0.17%-0.0 bps1
BELFA4,001$113.66$116.45$454.75K$465.92K+2.45%0.11%+0.0 bps1
Top 5 (by entry value)(5)$197.99M$161.37M-18.50%
Total(13)$300.2M$247.48M-17.56%

2025-05-142025-08-14

13 of 13 priced100.00% coverage
-8.84%
Holdings from Q1 2025 disclosure · accession 0001540866-25-000005 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
CHTR200,162$413.86$263.20$82.84M$52.68M-36.40%24.73%-9.0 bps1
BBWI1,639,039$34.03$28.71$55.78M$47.06M-15.63%16.66%-2.6 bps1
DPZ64,964$483.23$450.59$31.39M$29.27M-6.75%10.01%-0.7 bps1
LAMR224,260$115.74$121.22$25.96M$27.18M+4.73%8.56%+0.4 bps1
CDW155,305$189.36$166.09$29.41M$25.79M-12.29%8.35%-1.0 bps1
FLUT106,422$248.05$288.77$26.4M$30.73M+16.42%7.91%+1.3 bps1
KMX272,203$67.82$58.14$18.46M$15.83M-14.27%7.11%-1.0 bps1
BELFB245,999$77.96$132.13$19.18M$32.5M+69.48%6.17%+4.3 bps1
PGR43,323$278.17$250.95$12.05M$10.87M-9.79%4.11%-0.4 bps1
WHD237,030$44.30$40.44$10.5M$9.59M-8.71%3.64%-0.3 bps1
SVV1,078,437$9.57$11.10$10.32M$11.97M+15.99%2.50%+0.4 bps1
HEI-A2,171$213.37$242.85$463.23K$527.23K+13.82%0.15%+0.0 bps1
BELFA4,001$71.85$113.66$287.47K$454.75K+58.19%0.10%+0.1 bps1
Top 5 (by entry value)(5)$225.81M$185.54M-17.84%
Total(13)$323.03M$294.46M-8.84%

2025-02-142025-05-14

12 of 12 priced100.00% coverage
-0.29%
Holdings from Q4 2024 disclosure · accession 0001540866-25-000002 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
CHTR373,191$360.27$413.86$134.45M$154.45M+14.88%21.81%+3.2 bps1
BBWI2,262,506$36.47$34.03$82.51M$76.99M-6.69%14.96%-1.0 bps1
PGR329,243$262.60$278.17$86.46M$91.59M+5.93%13.45%+0.8 bps1
CDW382,798$189.39$189.36$72.5M$72.49M-0.02%11.36%-0.0 bps1
LAMR530,483$130.04$115.74$68.98M$61.4M-11.00%11.01%-1.2 bps1
FLUT198,435$298.81$248.05$59.29M$49.22M-16.99%8.74%-1.5 bps1
KMX559,384$88.90$67.82$49.73M$37.94M-23.71%7.80%-1.8 bps1
WHD441,964$60.02$44.30$26.53M$19.58M-26.19%4.40%-1.2 bps1
SVV2,053,930$11.26$9.57$23.13M$19.66M-15.01%3.59%-0.5 bps1
LBRDK1,244,270$76.39$90.01$95.04M$112M+17.84%2.14%+0.4 bps1
DPZ138,439$476.66$483.23$65.99M$66.9M+1.38%0.61%+0.0 bps1
HEI-A4,477$177.68$213.37$795.47K$955.26K+20.09%0.14%+0.0 bps1
Top 5 (by entry value)(5)$470.96M$507.51M+7.76%
Total(12)$765.41M$763.16M-0.29%

2024-11-142025-02-14

12 of 12 priced100.00% coverage
+3.33%
Holdings from Q3 2024 disclosure · accession 0001540866-24-000006 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
PGR603,603$257.50$262.60$155.43M$158.51M+1.98%19.70%+0.4 bps1
CHTR358,681$394.25$360.27$141.41M$129.22M-8.62%14.95%-1.3 bps1
LAMR718,898$127.15$130.04$91.41M$93.49M+2.27%12.35%+0.3 bps1
CDW384,560$180.77$189.39$69.52M$72.83M+4.77%11.19%+0.5 bps1
BBWI2,302,706$31.33$36.47$72.14M$83.98M+16.41%9.45%+1.6 bps1
DPZ159,129$435.97$476.66$69.38M$75.85M+9.33%8.80%+0.8 bps1
KMX674,134$78.21$88.90$52.72M$59.93M+13.67%6.71%+0.9 bps1
FLUT199,320$267.00$298.81$53.22M$59.56M+11.91%6.08%+0.7 bps1
LBRDK389,316$84.01$76.39$32.71M$29.74M-9.07%3.87%-0.4 bps1
WHD480,974$65.60$60.02$31.55M$28.87M-8.51%3.69%-0.3 bps1
SVV2,289,930$9.48$11.26$21.71M$25.78M+18.78%3.10%+0.6 bps1
HEI-A4,477$214.01$177.68$958.12K$795.47K-16.98%0.12%-0.0 bps1
Top 5 (by entry value)(5)$529.91M$538.03M+1.53%
Total(12)$792.15M$818.55M+3.33%

2024-08-152024-11-14

11 of 11 priced100.00% coverage
+3.82%
Holdings from Q2 2024 disclosure · accession 0001540866-24-000004 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
PGR727,431$236.77$257.50$172.23M$187.31M+8.76%19.60%+1.7 bps1
CHTR372,769$352.01$394.25$131.22M$146.96M+12.00%14.45%+1.7 bps1
LAMR901,371$119.01$127.15$107.27M$114.61M+6.84%13.97%+1.0 bps1
BBWI2,421,353$32.91$31.33$79.69M$75.86M-4.80%12.26%-0.6 bps1
CDW404,398$221.87$180.77$89.72M$73.1M-18.52%11.74%-2.2 bps1
DPZ167,329$444.58$435.97$74.39M$72.95M-1.94%11.21%-0.2 bps1
KMX705,214$79.84$78.21$56.3M$55.15M-2.04%6.71%-0.1 bps1
SVV2,240,000$8.89$9.48$19.91M$21.24M+6.64%3.56%+0.2 bps1
WHD499,581$59.40$65.60$29.68M$32.77M+10.44%3.42%+0.4 bps1
LBRDK417,935$59.18$84.01$24.73M$35.11M+41.96%2.97%+1.2 bps1
HEI-A4,642$186.64$214.01$866.38K$993.43K+14.66%0.11%+0.0 bps1
Top 5 (by entry value)(5)$580.13M$597.85M+3.05%
Total(11)$786.02M$816.07M+3.82%

2024-05-142024-08-15

10 of 10 priced100.00% coverage
+0.52%
Holdings from Q1 2024 disclosure · accession 0001540866-24-000003 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
PGR743,315$213.67$236.77$158.82M$175.99M+10.81%18.55%+2.0 bps1
BBWI2,474,352$48.68$32.91$120.45M$81.43M-32.40%14.93%-4.8 bps1
CDW443,504$221.58$221.87$98.27M$98.4M+0.13%13.69%+0.0 bps1
CHTR380,922$278.13$352.01$105.95M$134.09M+26.56%13.36%+3.5 bps1
LAMR921,092$119.53$119.01$110.1M$109.62M-0.44%13.27%-0.1 bps1
KMX1,172,755$75.76$79.84$88.85M$93.63M+5.39%12.33%+0.7 bps1
DPZ170,991$510.71$444.58$87.33M$76.02M-12.95%10.25%-1.3 bps1
LBRDK423,914$50.25$59.18$21.3M$25.09M+17.76%2.93%+0.5 bps1
WHD100,000$51.18$59.40$5.12M$5.94M+16.06%0.60%+0.1 bps1
HEI-A4,674$168.57$186.64$787.9K$872.36K+10.72%0.09%+0.0 bps1
Top 5 (by entry value)(5)$593.59M$599.53M+1.00%
Total(10)$796.97M$801.08M+0.52%

2024-02-142024-05-14

10 of 10 priced100.00% coverage
+6.49%
Holdings from Q4 2023 disclosure · accession 0001540866-24-000002 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
PGR798,063$187.95$213.67$150M$170.52M+13.68%16.75%+2.3 bps1
CDW545,575$239.48$221.58$130.65M$120.89M-7.47%16.34%-1.2 bps1
BBWI2,698,129$43.88$48.68$118.39M$131.34M+10.94%15.34%+1.7 bps1
LAMR860,480$106.04$119.53$91.25M$102.85M+12.72%12.05%+1.5 bps1
KMX1,095,488$72.76$75.76$79.71M$82.99M+4.12%11.08%+0.5 bps1
LBRDK935,685$55.82$50.25$52.23M$47.02M-9.98%9.94%-1.0 bps1
DPZ159,730$424.48$510.71$67.8M$81.58M+20.31%8.68%+1.8 bps1
CHTR161,935$287.28$278.13$46.52M$45.04M-3.19%8.29%-0.3 bps1
ZBRA40,381$252.96$320.98$10.21M$12.96M+26.89%1.45%+0.4 bps1
HEI-A4,247$154.86$168.57$657.69K$715.92K+8.85%0.08%+0.0 bps1
Top 5 (by entry value)(5)$570M$608.6M+6.77%
Total(10)$747.43M$795.92M+6.49%

2023-11-142024-02-14

10 of 10 priced100.00% coverage
+5.99%
Holdings from Q3 2023 disclosure · accession 0001540866-23-000005 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
LBRDK1,736,858$78.46$55.82$136.27M$96.96M-28.85%20.68%-6.0 bps1
PGR798,063$159.53$187.95$127.31M$150M+17.81%14.49%+2.6 bps1
CDW545,575$218.46$239.48$119.19M$130.65M+9.62%14.35%+1.4 bps1
ATVI976,584$95.00$95.00$92.78M$92.78M+0.00%11.92%+0.0 bps1
BBWI2,498,129$31.51$43.88$78.72M$109.62M+39.26%11.01%+4.3 bps1
KMX1,095,488$68.23$72.76$74.75M$79.71M+6.64%10.10%+0.7 bps1
LAMR756,662$96.47$106.04$73M$80.24M+9.92%8.23%+0.8 bps1
DPZ159,730$382.41$424.48$61.08M$67.8M+11.00%7.89%+0.9 bps1
ZBRA40,381$215.66$252.96$8.71M$10.21M+17.30%1.25%+0.2 bps1
HEI-A4,247$136.54$154.86$579.89K$657.69K+13.42%0.07%+0.0 bps1
Top 5 (by entry value)(5)$554.26M$580M+4.64%
Total(10)$772.37M$818.62M+5.99%

2023-08-142023-11-14

9 of 10 priced86.81% coverage
-2.23%
Holdings from Q2 2023 disclosure · accession 0001540866-23-000004 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
LBRDK1,701,433$86.69$78.46$147.51M$133.49M-9.50%18.45%-1.8 bps1
PGR781,783$125.92$159.53$98.44M$124.72M+26.69%14.00%+3.7 bps1
CDW534,445$206.62$218.46$110.43M$116.75M+5.73%13.27%+0.8 bps1
BBWI2,514,342$37.48$31.51$94.24M$79.23M-15.93%12.42%-2.0 bps1
KMX1,073,143$85.44$68.23$91.69M$73.22M-20.14%12.16%-2.4 bps1
LAMR574,551$89.00$96.47$51.14M$55.43M+8.39%7.72%+0.6 bps1
DPZ156,470$397.59$382.41$62.21M$59.84M-3.82%7.14%-0.3 bps1
ZBRA39,511$263.86$215.66$10.43M$8.52M-18.27%1.58%-0.3 bps1
HEI-A4,247$136.36$136.54$579.12K$579.89K+0.13%0.08%+0.0 bps1
ATVI13.19%0
Top 5 (by entry value)(5)$542.3M$527.41M-2.75%
Total(9)$666.65M$651.77M-2.23%

2023-05-152023-08-14

9 of 10 priced87.31% coverage
+11.15%
Holdings from Q1 2023 disclosure · accession 0001540866-23-000003 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
LBRDK1,671,433$73.35$86.69$122.6M$144.9M+18.19%17.83%+3.2 bps1
PGR767,953$132.00$125.92$101.37M$96.7M-4.61%14.34%-0.7 bps1
CDW524,975$171.41$206.62$89.99M$108.47M+20.54%13.36%+2.7 bps1
BBWI2,403,959$33.62$37.48$80.82M$90.1M+11.48%11.48%+1.3 bps1
KMX1,054,173$71.70$85.44$75.58M$90.07M+19.16%8.85%+1.7 bps1
ZBRA178,311$270.70$263.86$48.27M$47.05M-2.53%7.40%-0.2 bps1
LAMR564,411$94.83$89.00$53.52M$50.23M-6.15%7.36%-0.5 bps1
DPZ153,720$307.85$397.59$47.32M$61.12M+29.15%6.62%+1.9 bps1
HEI-A4,197$141.02$136.36$591.86K$572.3K-3.30%0.07%-0.0 bps1
ATVI12.69%0
Top 5 (by entry value)(5)$470.36M$530.24M+12.73%
Total(9)$620.07M$689.22M+11.15%