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MP

Makaira Partners Portfolio holdings

AUM $128M Turnover 8.33%
1-Year Est. Return 14.03%
This Fund
S&P 500
This Quarter Est. Return
+9.97%
1 Year Est. Return
-14.03%
3 Year Est. Return
+22.03%
5 Year Est. Return
+33.77%
10 Year Est. Return
+242.73%
AUM
$455M
AUM Growth
-$173M
Cap. Flow
-$222M
Cap. Flow %
-48.85%
Top 10 Hldgs %
100%
Holding
10
New
–
Increased
1
Reduced
8
Closed
1
Avg Time Held
3.3 years
Top 10 Avg Time Held
3.3 years
Top 20 Avg Time Held
3.3 years

Top Buys

Rank Stock Value
1
QVCGA
QVC Group Inc Series A
QVCGA
+$2.58M

Top Sells

Rank Stock Value
1
CDW icon
CDW
CDW
+$70.4M
2
ZBRA icon
Zebra Technologies
ZBRA
+$35.6M
3
LBRDK icon
Liberty Broadband Class C
LBRDK
+$35.4M
4
GLIBA
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
+$24.7M
5
WAIR
WESCO Aircraft Holdings Inc.
WAIR
+$21.5M

Sector Composition

Rank Sector Weight
1 Communication Services 32.66%
2 Technology 31.19%
3 Consumer Discretionary 24.04%
4 Industrials 12.1%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
ZBRA icon
1
Zebra Technologies
ZBRA
$17.5B
$87M 19.11%
340,759
-152,000
-31% -$35.6M
2016 Q1
15 quarters
LBRDK icon
2
DELISTED
Liberty Broadband Class C
LBRDK
$85.3M 18.73%
678,568
-303,932
-31% -$35.4M
2018 Q2
6 quarters
GLIBA
3
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
$57.3M 12.59%
809,184
-358,631
-31% -$24.7M
2018 Q1
7 quarters
WAIR
4
DELISTED
WESCO Aircraft Holdings Inc.
WAIR
$55.1M 12.1%
5,002,180
-1,956,070
-28% -$21.5M
2013 Q2
26 quarters
CDW icon
5
CDW
CDW
$18.7B
$55M 12.08%
385,310
-532,000
-58% -$70.4M
2013 Q4
24 quarters
QVCGA
6
DELISTED
QVC Group Inc Series A
QVCGA
$42.1M 9.25%
102,969
+5,735
+6% +$2.58M
2013 Q2
26 quarters
BBWI icon
7
Bath & Body Works
BBWI
$3.96B
$34.7M 7.61%
2,366,069
-1,048,976
-31% -$15.1M
2017 Q4
8 quarters
KMX icon
8
CarMax
KMX
$7.35B
$32.7M 7.18%
373,169
-161,173
-30% -$15.2M
2018 Q4
4 quarters
FOXA icon
9
Fox Class A
FOXA
$26.6B
$6.1M 1.34%
164,500
-73,000
-31% -$2.5M
2019 Q2
2 quarters
CAAP icon
10
Corporacion America
CAAP
$3.89B
– –
-1,048,197
Closed -$4.75M –

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Makaira Partners's Q4 2019 Portfolio in Review

As of Q4 2019, Makaira Partners held 10 positions worth $455M, down 28% from $629M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Makaira Partners withdrew a net $222M in Q4 2019, closing 1 position and reducing 8 holdings. Its most notable exit was Corporacion America, an estimated $4.75M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 33% of assets, up from 29% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, Makaira Partners added an estimated $2.58M to QVC Group Inc Series A.

  • Makaira Partners added most to QVC Group Inc Series A in Q4 2019, an estimated $2.58M increase.
  • Makaira Partners's biggest Q4 2019 reduction was CDW, cutting an estimated $70.4M.
  • Makaira Partners fully exited Corporacion America in Q4 2019, selling an estimated $4.75M.
  • Makaira Partners's ten largest holdings make up 100% of its $455M portfolio in Q4 2019.
  • Makaira Partners opened 0 new positions and closed 1 in Q4 2019.
  • Makaira Partners's portfolio value fell 28% quarter-over-quarter to $455M.

Based on Makaira Partners's 13F filing for Q4 2019, filed 12 Feb 2020.