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Makaira Partners LLC

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13F filer, CIK 1540866, LA JOLLA, CA

Makaira Partners LLC reported $194,726,628 across 12 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-17. Its ten largest share positions make up 99.48% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001540866-25-000008

Period
2025-09-30
Reported value
$195M
Holdings
12
Top 10 weight
99.48%
New
0
Sold out
1

Largest buys vs the previous quarter

None.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
BELFBreduced-145,999-$20.6M
KMXexited-272,203-$18.3M
BBWIreduced-469,039-$12.1M
DPZreduced-27,964-$12.1M
CHTRreduced-36,162-$9.95M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001540866-25-000008, largest first. % of portfolio is the value over $194,726,628, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
CHTRCHARTER COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: 372,769 shares; 2024Q3: 358,681 shares; 2024Q4: 373,191 shares; 2025Q1: 200,162 shares; 2025Q2: 200,162 shares; 2025Q3: 164,000 shares 164,000$45.1M23.17%-36,162Timeline
BBWIBATH & BODY WORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: 2,421,353 shares; 2024Q3: 2,302,706 shares; 2024Q4: 2,262,506 shares; 2025Q1: 1,639,039 shares; 2025Q2: 1,839,039 shares; 2025Q3: 1,370,000 shares 1,370,000$35.3M18.12%-469,039Timeline
LAMRLAMAR ADVERTISING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: 901,371 shares; 2024Q3: 718,898 shares; 2024Q4: 530,483 shares; 2025Q1: 224,260 shares; 2025Q2: 224,260 shares; 2025Q3: 170,000 shares 170,000$20.8M10.69%-54,260Timeline
FLUTFLUTTER ENTMT PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: not reported; 2024Q3: 199,320 shares; 2024Q4: 198,435 shares; 2025Q1: 106,422 shares; 2025Q2: 106,422 shares; 2025Q3: 81,422 shares 81,422$20.7M10.62%-25,000Timeline
DPZDOMINOS PIZZA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: 167,329 shares; 2024Q3: 159,129 shares; 2024Q4: 138,439 shares; 2025Q1: 64,964 shares; 2025Q2: 64,964 shares; 2025Q3: 37,000 shares 37,000$16M8.2%-27,964Timeline
CDWCDW CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: 404,398 shares; 2024Q3: 384,560 shares; 2024Q4: 382,798 shares; 2025Q1: 155,305 shares; 2025Q2: 155,305 shares; 2025Q3: 100,000 shares 100,000$15.9M8.18%-55,305Timeline
BELFBBEL FUSE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 245,999 shares; 2025Q2: 245,999 shares; 2025Q3: 100,000 shares 100,000$14.1M7.24%-145,999Timeline
WHDCACTUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: 499,581 shares; 2024Q3: 480,974 shares; 2024Q4: 441,964 shares; 2025Q1: 237,030 shares; 2025Q2: 357,030 shares; 2025Q3: 263,409 shares 263,409$10.4M5.34%-93,621Timeline
SVVSAVERS VALUE VLG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: 2,240,000 shares; 2024Q3: 2,289,930 shares; 2024Q4: 2,053,930 shares; 2025Q1: 1,078,437 shares; 2025Q2: 1,078,437 shares; 2025Q3: 780,000 shares 780,000$10.3M5.31%-298,437Timeline
LMBLIMBACH HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 52,239 shares; 2025Q3: 52,239 shares 52,239$5.07M2.61%0Timeline
HEI-AHEICO CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: 4,642 shares; 2024Q3: 4,477 shares; 2024Q4: 4,477 shares; 2025Q1: 2,171 shares; 2025Q2: 2,171 shares; 2025Q3: 2,171 shares 2,171$552K0.28%0Timeline
BELFABEL FUSE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 4,001 shares; 2025Q2: 4,001 shares; 2025Q3: 4,001 shares 4,001$466K0.24%0Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
KMXCARMAX INC272,203$18.3Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001540866-25-000008 base2025-11-17acceptance time not in the bulk data set