Makaira Partners LLC
Makaira Partners LLC is an employee-owned boutique investment firm founded in 2007 and based in La Jolla, California. The firm manages a concentrated public equities portfolio and serves a global client base composed of individuals, family offices, endowments, foundations, and institutions. Led by founder Tom Bancroft, Makaira emphasizes a long-term, value-oriented investment strategy inspired by Bancroft's experience managing GEICO’s equity portfolio at Berkshire Hathaway. The firm operates with a small team of investment professionals and support staff, with an estimated 3 to 5 employees.
Investment Strategy
Makaira Partners runs a concentrated portfolio of public equities, seeking to invest in high-quality businesses that can compound intrinsic value per share over time. The firm employs exhaustive fundamental research to develop a deep understanding of each company's business model, competitive positioning, and culture. With a long-term investment horizon—often five years or more—Makaira focuses on companies with durable competitive advantages and strong management, aiming for attractive long-term returns and outperformance over passive strategies while minimizing the risk of permanent capital loss.
Top Holdings
Equity Positions (13)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
C CHTR | CHARTER COMMUNICATIONS CL A ORD | 24.89% | $81.8M | 200,162 | $329.14 | $408.81 | +$8.1M |
B BBWI | BATH AND BODY WORKS ORD | 16.76% | $55.1M | 1,839,039 | $44.31 | $29.96 | +$5.4M |
F FLUT | FLUTTER ENTERTAINMENT ORD | 9.25% | $30.4M | 106,422 | $237.28 | $285.76 | +$6.8M |
D DPZ | DOMINOS PIZZA ORD | 8.90% | $29.3M | 64,964 | $340.10 | $450.60 | -$574.9K |
C CDW | CDW ORD | 8.44% | $27.7M | 155,305 | $94.98 | $178.59 | +$2.8M |