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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
-4.93%
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
$298M
AUM Growth
-$343M
Cap. Flow
-$331M
Cap. Flow %
-110.93%
Top 10 Hldgs %
97.25%
Holding
14
New
2
Increased
–
Reduced
11
Closed
1

Top Buys

Rank Stock Value
1
BELFB
Bel Fuse Inc Class B
BELFB
+$19.6M
2
BELFA icon
Bel Fuse Inc Class A
BELFA
+$327K

Top Sells

Rank Stock Value
1
PGR icon
Progressive
PGR
+$74.8M
2
CHTR icon
Charter Communications
CHTR
+$61.9M
3
CDW icon
CDW
CDW
+$41.3M
4
LAMR icon
Lamar Advertising Co
LAMR
+$37.3M
5
DPZ icon
Domino's
DPZ
+$33.2M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 44.18%
2 Communication Services 24.73%
3 Technology 14.62%
4 Real Estate 8.56%
5 Financials 4.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CHTR icon
1
Charter Communications
CHTR
$14.7B
$73.8M 24.73%
200,162
-173,029
-46% -$61.9M
BBWI icon
2
Bath & Body Works
BBWI
$4.01B
$49.7M 16.66%
1,639,039
-623,467
-28% -$22.1M
DPZ icon
3
Domino's
DPZ
$11B
$29.8M 10.01%
64,964
-73,475
-53% -$33.2M
LAMR icon
4
Lamar Advertising Co
LAMR
$16.2B
$25.5M 8.56%
224,260
-306,223
-58% -$37.3M
CDW icon
5
CDW
CDW
$17.1B
$24.9M 8.35%
155,305
-227,493
-59% -$41.3M
FLUT icon
6
Flutter Entertainment
FLUT
$17.6B
$23.6M 7.91%
106,422
-92,013
-46% -$23.8M
KMX icon
7
CarMax
KMX
$8.27B
$21.2M 7.11%
272,203
-287,181
-51% -$23M
BELFB
8
Bel Fuse Inc Class B
BELFB
$3.88B
$18.4M 6.17%
+245,999
New +$19.6M
PGR icon
9
Progressive
PGR
$124B
$12.3M 4.11%
43,323
-285,920
-87% -$74.8M
WHD icon
10
Cactus
WHD
$3.83B
$10.9M 3.64%
237,030
-204,934
-46% -$11.4M
SVV icon
11
Savers
SVV
$1.4B
$7.44M 2.5%
1,078,437
-975,493
-47% -$9.01M
HEI.A icon
12
HEICO Corp Class A
HEI.A
$35.4B
$458K 0.15%
2,171
-2,306
-52% -$447K
BELFA icon
13
Bel Fuse Inc Class A
BELFA
$3.32B
$288K 0.1%
+4,001
New +$327K
LBRDK icon
14
Liberty Broadband Class C
LBRDK
$4.15B
– –
-167,681
Closed -$12.5M

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Makaira Partners's Q1 2025 Portfolio in Review

As of Q1 2025, Makaira Partners held 14 positions worth $298M, down 53% from $641M the previous quarter. Its ten largest holdings account for 97% of the portfolio.

Makaira Partners withdrew a net $331M in Q1 2025, closing 1 position and reducing 11 holdings. Its most notable exit was Liberty Broadband Class C, an estimated $12.5M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 44% of assets, up from 41% a quarter earlier, followed by Communication Services and Technology.

Against the trend, Makaira Partners opened a new position in Bel Fuse Inc Class B worth $18.4M.

  • Makaira Partners's largest Q1 2025 buy was Bel Fuse Inc Class B: 245,999 shares worth $18.4M.
  • Makaira Partners's biggest Q1 2025 reduction was Progressive, cutting an estimated $74.8M.
  • Makaira Partners fully exited Liberty Broadband Class C in Q1 2025, selling an estimated $12.5M.
  • Makaira Partners's ten largest holdings make up 97% of its $298M portfolio in Q1 2025.
  • Makaira Partners opened 2 new positions and closed 1 in Q1 2025.
  • Makaira Partners's portfolio value fell 53% quarter-over-quarter to $298M.

Based on Makaira Partners's 13F filing for Q1 2025, filed 14 May 2025.