13F filing recap · Q4 2012

What did Makaira Partners buy in Q4 2012?

Reported stock-position changes between this filing and the previous one.

Stock value

$236.35M

Positions

Estimated turnover

24.3%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Increased positions

WUThe Western Union Company$51.23Mreported value+671.6K shares+21.7%QRTEALiberty Ventures Series A$41.16Mreported value+111.9K shares+5.7%CVACovanta Holding Corp$32.56Mreported value+399.6K shares+29.2%IRMIron Mountain Inc$25.72Mreported value+281.0K shares+51.3%CPLACapella Education Co$16.60Mreported value+260.5K shares+79.5%QRTEALiberty Ventures Series A$10.45Mreported value+41.4K shares+36.7%ONEHigher One Holdings, Inc.$7.87Mreported value+180.7K shares+31.9%

Reduced positions

CXWCorecivic, Inc.$19.31Mreported value-15.9K shares-2.8%LOWLowe’s Companies, Inc.$18.50Mreported value-366.5K shares-41.3%TWCTime Warner Cable Inc$12.95Mreported value-22.1K shares-14.2%

Exited positions

LVNTALiberty Ventures Series A$371.0Kprior reported value-27.4K shares-100.0%