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Makaira Partners’s CarMax KMX Stock Holding History

Makaira Partners’s Portfolio KMX Stock Details KMX Fund Activity
Bought
Maintained
Sold
Quarter Market Value Status Shares Change in
Stake 		Trade Value Portfolio Weight Portfolio Position
2025
Q3 		– Sell
-272,203
Closed -$18.3M – 13
2025
Q2 		$18.3M Hold
272,203
– – 5.57% 8
2025
Q1 		$21.2M Sell
272,203
-287,181
-51% -$23M 7.11% 7
2024
Q4 		$45.7M Sell
559,384
-114,750
-17% -$9.01M 7.13% 8
2024
Q3 		$52.2M Sell
674,134
-31,080
-4% -$2.46M 6.71% 7
2024
Q2 		$51.7M Sell
705,214
-467,541
-40% -$33.7M 6.71% 7
2024
Q1 		$102M Buy
1,172,755
+77,267
+7% +$5.84M 12.33% 6
2023
Q4 		$84.1M Hold
1,095,488
– – 11.08% 5
2023
Q3 		$77.5M Buy
1,095,488
+22,345
+2% +$1.83M 10.1% 6
2023
Q2 		$89.8M Buy
1,073,143
+18,970
+2% +$1.39M 12.16% 6
2023
Q1 		$67.8M Buy
1,054,173
+103,280
+11% +$6.91M 8.85% 6
2022
Q4 		$57.9M Buy
950,893
+24,692
+3% +$1.59M 8.41% 6
2022
Q3 		$61.1M Buy
926,201
+317,824
+52% +$29M 10.12% 6
2022
Q2 		$55M Buy
608,377
+150,000
+33% +$14.1M 12.43% 3
2022
Q1 		$44.2M Hold
458,377
– – 9.09% 6
2021
Q4 		$59.7M Buy
458,377
+21,000
+5% +$2.94M 10.89% 5
2021
Q3 		$56M Hold
437,377
– – 11.83% 3
2021
Q2 		$56.5M Hold
437,377
– – 11.2% 4
2021
Q1 		$58M Hold
437,377
– – 12.26% 3
2020
Q4 		$41.3M Hold
437,377
– – 9.51% 5
2020
Q3 		$40.2M Hold
437,377
– – 11.11% 4
2020
Q2 		$39.2M Sell
437,377
-145,792
-25% -$11.4M 12.16% 3
2020
Q1 		$31.4M Buy
583,169
+210,000
+56% +$17.8M 8.83% 6
2019
Q4 		$32.7M Sell
373,169
-161,173
-30% -$15.2M 7.18% 8
2019
Q3 		$47M Hold
534,342
– – 7.48% 8
2019
Q2 		$46.4M Sell
534,342
-184,423
-26% -$14.4M 6.72% 8
2019
Q1 		$50.2M Sell
718,765
-16,235
-2% -$1M 5.86% 8
2018
Q4 		$46.1M Buy
+735,000
New +$48.5M 5.99% 8

Other funds holding KMX

Vanguard Group
Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return
BlackRock
BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return
State Street
State Street Boston, Massachusetts $3.38T AUM 44.17% 1-Year Est. Return
Janus Henderson Group
Janus Henderson Group London $209B AUM 37.72% 1-Year Est. Return
Diamond Hill Capital Management
Diamond Hill Capital Management Columbus, Ohio $12.5B AUM 7.49% 1-Year Est. Return
Primecap Management
Primecap Management Pasadena, California $169B AUM 114.72% 1-Year Est. Return
Dimensional Fund Advisors
Dimensional Fund Advisors Austin, Texas $552B AUM 44.19% 1-Year Est. Return
Arrowstreet Capital
Arrowstreet Capital Boston, Massachusetts $225B AUM 49.49% 1-Year Est. Return
Invesco
Invesco Atlanta, Georgia $1.26T AUM 61.52% 1-Year Est. Return
Baird Financial Group
Baird Financial Group Milwaukee, Wisconsin $72.7B AUM 26.4% 1-Year Est. Return

Makaira Partners's KMX Position: Q3 2025 in Review

Makaira Partners sold out of CarMax (KMX) in Q3 2025, closing a stake of 272,203 shares — an estimated $18.3M sold.

Makaira Partners first reported a position in KMX in Q4 2018 and held it in 27 quarters. The position peaked at $102M in Q1 2024. 623 funds tracked by Wall St. Rank hold KMX as of Q3 2025.

  • Makaira Partners reported no remaining CarMax position as of Q3 2025 after selling out during the quarter.
  • Makaira Partners sold 272,203 CarMax shares in Q3 2025, an estimated $18.3M.
  • Makaira Partners first reported a position in CarMax in Q4 2018 and held it in 27 quarters.
  • Makaira Partners's CarMax position peaked at $102M in Q1 2024.
  • 623 funds tracked by Wall St. Rank held CarMax as of Q3 2025.

Based on Makaira Partners's 13F filing for Q3 2025, filed 17 Nov 2025.