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MP

Makaira Partners Portfolio holdings

AUM $128M
1-Year Est. Return 14.03%
This Fund
S&P 500
This Quarter Est. Return
-26.64%
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
$355M
AUM Growth
-$100M
Cap. Flow
+$30.1M
Cap. Flow %
8.47%
Top 10 Hldgs %
99.2%
Holding
14
New
5
Increased
4
Reduced
–
Closed
2

Top Buys

Rank Stock Value
1
CDK
CDK Global, Inc.
CDK
+$26.4M
2
IAA
IAA, Inc. Common Stock
IAA
+$20.3M
3
KMX icon
CarMax
KMX
+$17.8M
4
GLIBA
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
+$8.99M
5
QVCGA
QVC Group Inc Series A
QVCGA
+$5.52M

Top Sells

Rank Stock Value
1
WAIR
WESCO Aircraft Holdings Inc.
WAIR
+$55.1M
2
FOXA icon
Fox Class A
FOXA
+$6.1M

Sector Composition

Rank Sector Weight
1 Communication Services 36.23%
2 Consumer Discretionary 29.53%
3 Technology 27.71%
4 Industrials 6.04%
5 Energy 0.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LBRDK icon
1
Liberty Broadband Class C
LBRDK
$4.15B
$75.1M 21.14%
678,568
– –
ZBRA icon
2
Zebra Technologies
ZBRA
$12.4B
$62.6M 17.6%
340,759
– –
GLIBA
3
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
$53.6M 15.09%
941,658
+132,474
+16% +$8.99M
CDW icon
4
CDW
CDW
$17.1B
$35.9M 10.11%
385,310
– –
QVCGA
5
DELISTED
QVC Group Inc Series A
QVCGA
$35.1M 9.87%
118,419
+15,450
+15% +$5.52M
KMX icon
6
CarMax
KMX
$8.27B
$31.4M 8.83%
583,169
+210,000
+56% +$17.8M
BBWI icon
7
Bath & Body Works
BBWI
$4.01B
$24.4M 6.87%
2,613,469
+247,400
+10% +$3.93M
CDK
8
DELISTED
CDK Global, Inc.
CDK
$18.1M 5.11%
+552,435
New +$26.4M
IAA
9
DELISTED
IAA, Inc. Common Stock
IAA
$14.1M 3.95%
+469,116
New +$20.3M
HEI.A icon
10
HEICO Corp Class A
HEI.A
$35.4B
$2.19M 0.61%
+34,191
New +$3.06M
WHD icon
11
Cactus
WHD
$3.83B
$1.74M 0.49%
+150,000
New +$3.77M
HEI icon
12
HEICO Corp
HEI
$48.9B
$1.12M 0.31%
+15,000
New +$1.64M
FOXA icon
13
Fox Class A
FOXA
$23.2B
– –
-164,500
Closed -$6.1M
WAIR
14
DELISTED
WESCO Aircraft Holdings Inc.
WAIR
– –
-5,002,180
Closed -$55.1M

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Makaira Partners's Q1 2020 Portfolio in Review

As of Q1 2020, Makaira Partners held 14 positions worth $355M, down 22% from $455M the previous quarter. Its ten largest holdings account for 99% of the portfolio.

Makaira Partners deployed $30.1M of net new capital in Q1 2020, opening 5 new positions and adding to 4 existing holdings. Its largest new stake was CDK Global, Inc.: 552,435 shares worth $18.1M.

By sector, the portfolio is most concentrated in Communication Services at 36% of assets, up from 33% a quarter earlier, followed by Consumer Discretionary and Technology.

On the sell side, the most notable exit was WESCO Aircraft Holdings Inc., an estimated $55.1M sold.

  • Makaira Partners's largest Q1 2020 buy was CDK Global, Inc.: 552,435 shares worth $18.1M.
  • Makaira Partners added most to CarMax in Q1 2020, an estimated $17.8M increase.
  • Makaira Partners fully exited WESCO Aircraft Holdings Inc. in Q1 2020, selling an estimated $55.1M.
  • Makaira Partners's ten largest holdings make up 99% of its $355M portfolio in Q1 2020.
  • Makaira Partners opened 5 new positions and closed 2 in Q1 2020.
  • Makaira Partners's portfolio value fell 22% quarter-over-quarter to $355M.

Based on Makaira Partners's 13F filing for Q1 2020, filed 15 May 2020.