13F filing recap · Q3 2025
What did Makaira Partners buy in Q3 2025?
Reported stock-position changes between this filing and the previous one.
Stock value
$194.73M
Positions
12
Estimated turnover
39.1%
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.
Quarter in review
Makaira Partners exited Carmax entirely and trimmed a number of other positions. The largest reductions came in Domino’s Pizza, Cdw Corp, and Bel Fuse, all cut substantially. Charter Communications, Bath & Body Works, Lamar Advertising, Flutter Entertainment, Cactus, and Savers Value Village were also reduced.
Reduced positions
CHTRCharter Communications, Inc.$45.12Mreported value-36.2K shares-18.1%BBWIBath & Body Works, Inc.$35.29Mreported value-469.0K shares-25.5%LAMRLamar Advertising Co/new$20.81Mreported value-54.3K shares-24.2%FLUTFlutter Entertainment Plc$20.68Mreported value-25.0K shares-23.5%DPZDomino’s Pizza, Inc.$15.97Mreported value-28.0K shares-43.0%CDWCdw Corp$15.93Mreported value-55.3K shares-35.6%BELFBBel Fuse Inc /nj$14.10Mreported value-146.0K shares-59.3%WHDCactus, Inc.$10.40Mreported value-93.6K shares-26.2%SVVSavers Value Village, Inc.$10.34Mreported value-298.4K shares-27.7%