Historical Stock Holdings
Tom Bancroft - Makaira Partners
| Period | Portfolio Value | Top 20 holdings history (left to right) | |||||||||||||||||||
| 2025 Q4 | $128 M |
CHTR
Charter Communications
26.77% of portfolio |
DPZ
Dominos Pizza Inc.
12.06% of portfolio |
LAMR
Lamar Advertising Co.
11.88% of portfolio |
BBWI
Bath & Body Works Inc.
11.53% of portfolio |
CDW
CDW Corp.
10.65% of portfolio |
BELFB
Bel Fuse Inc. CL B
7.29% of portfolio |
FLUT
Flutter Entertainment Plc
6.96% of portfolio |
LMB
Limbach Holdings Inc.
6.22% of portfolio |
WHD
Cactus Inc.
5.05% of portfolio |
SVV
Savers Value Village Inc
1.16% of portfolio |
HEI.A
HEICO Corp. CL A
0.43% of portfolio | |||||||||
| 2025 Q3 | $195 M |
CHTR
Charter Communications
23.17% of portfolio |
BBWI
Bath & Body Works Inc.
18.12% of portfolio |
LAMR
Lamar Advertising Co.
10.69% of portfolio |
FLUT
Flutter Entertainment Plc
10.62% of portfolio |
DPZ
Dominos Pizza Inc.
8.20% of portfolio |
CDW
CDW Corp.
8.18% of portfolio |
BELFB
Bel Fuse Inc. CL B
7.24% of portfolio |
WHD
Cactus Inc.
5.34% of portfolio |
SVV
Savers Value Village Inc
5.31% of portfolio |
LMB
Limbach Holdings Inc.
2.61% of portfolio |
HEI.A
HEICO Corp. CL A
0.28% of portfolio |
BELFA
Bel Fuse Inc. CL A
0.24% of portfolio | ||||||||
| 2025 Q2 | $329 M |
CHTR
Charter Communications
24.89% of portfolio |
BBWI
Bath & Body Works Inc.
16.76% of portfolio |
FLUT
Flutter Entertainment Plc
9.25% of portfolio |
DPZ
Dominos Pizza Inc.
8.90% of portfolio |
CDW
CDW Corp.
8.44% of portfolio |
LAMR
Lamar Advertising Co.
8.28% of portfolio |
BELFB
Bel Fuse Inc. CL B
7.31% of portfolio |
KMX
CarMax Inc.
5.57% of portfolio |
WHD
Cactus Inc.
4.75% of portfolio |
SVV
Savers Value Village Inc
3.35% of portfolio |
LMB
Limbach Holdings Inc.
2.23% of portfolio |
HEI.A
HEICO Corp. CL A
0.17% of portfolio |
BELFA
Bel Fuse Inc. CL A
0.11% of portfolio | |||||||
| 2025 Q1 | $298 M |
CHTR
Charter Communications
24.73% of portfolio |
BBWI
Bath & Body Works Inc.
16.66% of portfolio |
DPZ
Dominos Pizza Inc.
10.01% of portfolio |
LAMR
Lamar Advertising Co.
8.56% of portfolio |
CDW
CDW Corp.
8.35% of portfolio |
FLUT
Flutter Entertainment Plc
7.91% of portfolio |
KMX
CarMax Inc.
7.11% of portfolio |
BELFB
Bel Fuse Inc. CL B
6.17% of portfolio |
PGR
Progressive Corp.
4.11% of portfolio |
WHD
Cactus Inc.
3.64% of portfolio |
SVV
Savers Value Village Inc
2.50% of portfolio |
HEI.A
HEICO Corp. CL A
0.15% of portfolio |
BELFA
Bel Fuse Inc. CL A
0.10% of portfolio | |||||||
| 2024 Q4 | $641 M |
CHTR
Charter Communications
19.95% of portfolio |
BBWI
Bath & Body Works Inc.
13.68% of portfolio |
PGR
Progressive Corp.
12.31% of portfolio |
CDW
CDW Corp.
10.39% of portfolio |
LAMR
Lamar Advertising Co.
10.07% of portfolio |
DPZ
Dominos Pizza Inc.
9.06% of portfolio |
FLUT
Flutter Entertainment Plc
8.00% of portfolio |
KMX
CarMax Inc.
7.13% of portfolio |
WHD
Cactus Inc.
4.02% of portfolio |
SVV
Savers Value Village Inc
3.28% of portfolio |
LBRDK
Liberty Broadband Corp. CL C
1.96% of portfolio |
HEI.A
HEICO Corp. CL A
0.13% of portfolio | ||||||||
| 2024 Q3 | $778 M |
PGR
Progressive Corp.
19.70% of portfolio |
CHTR
Charter Communications
14.95% of portfolio |
LAMR
Lamar Advertising Co.
12.35% of portfolio |
CDW
CDW Corp.
11.19% of portfolio |
BBWI
Bath & Body Works Inc.
9.45% of portfolio |
DPZ
Dominos Pizza Inc.
8.80% of portfolio |
KMX
CarMax Inc.
6.71% of portfolio |
FLUT
Flutter Entertainment Plc
6.08% of portfolio |
LBRDK
Liberty Broadband Corp. CL C
3.87% of portfolio |
WHD
Cactus Inc.
3.69% of portfolio |
SVV
Savers Value Village Inc
3.10% of portfolio |
HEI.A
HEICO Corp. CL A
0.12% of portfolio | ||||||||
| 2024 Q2 | $771 M |
PGR
Progressive Corp.
19.60% of portfolio |
CHTR
Charter Communications
14.45% of portfolio |
LAMR
Lamar Advertising Co.
13.97% of portfolio |
BBWI
Bath & Body Works Inc.
12.26% of portfolio |
CDW
CDW Corp.
11.74% of portfolio |
DPZ
Dominos Pizza Inc.
11.21% of portfolio |
KMX
CarMax Inc.
6.71% of portfolio |
SVV
Savers Value Village Inc
3.56% of portfolio |
WHD
Cactus Inc.
3.42% of portfolio |
LBRDK
Liberty Broadband Corp. CL C
2.97% of portfolio |
HEI.A
HEICO Corp. CL A
0.11% of portfolio | |||||||||
| 2024 Q1 | $829 M |
PGR
Progressive Corp.
18.55% of portfolio |
BBWI
Bath & Body Works Inc.
14.93% of portfolio |
CDW
CDW Corp.
13.69% of portfolio |
CHTR
Charter Communications
13.36% of portfolio |
LAMR
Lamar Advertising Co.
13.27% of portfolio |
KMX
CarMax Inc.
12.33% of portfolio |
DPZ
Dominos Pizza Inc.
10.25% of portfolio |
LBRDK
Liberty Broadband Corp. CL C
2.93% of portfolio |
WHD
Cactus Inc.
0.60% of portfolio |
HEI.A
HEICO Corp. CL A
0.09% of portfolio | ||||||||||
| 2023 Q4 | $759 M |
PGR
Progressive Corp.
16.75% of portfolio |
CDW
CDW Corp.
16.34% of portfolio |
BBWI
Bath & Body Works Inc.
15.34% of portfolio |
LAMR
Lamar Advertising Co.
12.05% of portfolio |
KMX
CarMax Inc.
11.08% of portfolio |
LBRDK
Liberty Broadband Corp. CL C
9.94% of portfolio |
DPZ
Dominos Pizza Inc.
8.68% of portfolio |
CHTR
Charter Communications
8.29% of portfolio |
ZBRA
Zebra Technologies Corp.
1.45% of portfolio |
HEI.A
HEICO Corp. CL A
0.08% of portfolio | ||||||||||
| 2023 Q3 | $767 M |
LBRDK
Liberty Broadband Corp. CL C
20.68% of portfolio |
PGR
Progressive Corp.
14.49% of portfolio |
CDW
CDW Corp.
14.35% of portfolio |
ATVI
Activision Blizzard Inc.
11.92% of portfolio |
BBWI
Bath & Body Works Inc.
11.01% of portfolio |
KMX
CarMax Inc.
10.10% of portfolio |
LAMR
Lamar Advertising Co.
8.23% of portfolio |
DPZ
Dominos Pizza Inc.
7.89% of portfolio |
ZBRA
Zebra Technologies Corp.
1.25% of portfolio |
HEI.A
HEICO Corp. CL A
0.07% of portfolio | ||||||||||
| 2023 Q2 | $739 M |
LBRDK
Liberty Broadband Corp. CL C
18.45% of portfolio |
PGR
Progressive Corp.
14.00% of portfolio |
CDW
CDW Corp.
13.27% of portfolio |
ATVI
Activision Blizzard Inc.
13.19% of portfolio |
BBWI
Bath & Body Works Inc.
12.42% of portfolio |
KMX
CarMax Inc.
12.16% of portfolio |
LAMR
Lamar Advertising Co.
7.72% of portfolio |
DPZ
Dominos Pizza Inc.
7.14% of portfolio |
ZBRA
Zebra Technologies Corp.
1.58% of portfolio |
HEI.A
HEICO Corp. CL A
0.08% of portfolio | ||||||||||
| 2023 Q1 | $766 M |
LBRDK
Liberty Broadband Corp. CL C
17.83% of portfolio |
PGR
Progressive Corp.
14.34% of portfolio |
CDW
CDW Corp.
13.36% of portfolio |
ATVI
Activision Blizzard Inc.
12.69% of portfolio |
BBWI
Bath & Body Works Inc.
11.48% of portfolio |
KMX
CarMax Inc.
8.85% of portfolio |
ZBRA
Zebra Technologies Corp.
7.40% of portfolio |
LAMR
Lamar Advertising Co.
7.36% of portfolio |
DPZ
Dominos Pizza Inc.
6.62% of portfolio |
HEI.A
HEICO Corp. CL A
0.07% of portfolio | ||||||||||
| 2022 Q4 | $689 M |
ATVI
Activision Blizzard Inc.
17.89% of portfolio |
LBRDK
Liberty Broadband Corp. CL C
16.70% of portfolio |
BBWI
Bath & Body Works Inc.
14.65% of portfolio |
PGR
Progressive Corp.
13.05% of portfolio |
CDW
CDW Corp.
12.28% of portfolio |
KMX
CarMax Inc.
8.41% of portfolio |
LAMR
Lamar Advertising Co.
6.98% of portfolio |
ZBRA
Zebra Technologies Corp.
5.99% of portfolio |
DPZ
Dominos Pizza Inc.
1.80% of portfolio |
FRCB
First Republic Bank
1.33% of portfolio |
HEI.A
HEICO Corp. CL A
0.93% of portfolio | |||||||||
| 2022 Q3 | $604 M |
ATVI
Activision Blizzard Inc.
19.27% of portfolio |
LBRDK
Liberty Broadband Corp. CL C
17.94% of portfolio |
PGR
Progressive Corp.
12.97% of portfolio |
BBWI
Bath & Body Works Inc.
12.57% of portfolio |
CDW
CDW Corp.
11.93% of portfolio |
KMX
CarMax Inc.
10.12% of portfolio |
ZBRA
Zebra Technologies Corp.
6.81% of portfolio |
LAMR
Lamar Advertising Co.
6.15% of portfolio |
DPZ
Dominos Pizza Inc.
1.23% of portfolio |
HEI.A
HEICO Corp. CL A
1.01% of portfolio | ||||||||||
| 2022 Q2 | $443 M |
LBRDK
Liberty Broadband Corp. CL C
25.19% of portfolio |
ATVI
Activision Blizzard Inc.
20.22% of portfolio |
KMX
CarMax Inc.
12.43% of portfolio |
PGR
Progressive Corp.
11.64% of portfolio |
CDW
CDW Corp.
10.78% of portfolio |
BBWI
Bath & Body Works Inc.
9.31% of portfolio |
ZBRA
Zebra Technologies Corp.
6.83% of portfolio |
LAMR
Lamar Advertising Co.
2.78% of portfolio |
HEI.A
HEICO Corp. CL A
0.81% of portfolio | |||||||||||
| 2022 Q1 | $486 M |
LBRDK
Liberty Broadband Corp. CL C
26.84% of portfolio |
ATVI
Activision Blizzard Inc.
21.41% of portfolio |
BBWI
Bath & Body Works Inc.
11.42% of portfolio |
CDW
CDW Corp.
11.14% of portfolio |
PGR
Progressive Corp.
10.39% of portfolio |
KMX
CarMax Inc.
9.09% of portfolio |
ZBRA
Zebra Technologies Corp.
8.75% of portfolio |
HEI.A
HEICO Corp. CL A
0.89% of portfolio |
WHD
Cactus Inc.
0.06% of portfolio | |||||||||||
| 2021 Q4 | $548 M |
LBRDK
Liberty Broadband Corp. CL C
28.34% of portfolio |
BBWI
Bath & Body Works Inc.
14.78% of portfolio |
CDW
CDW Corp.
11.31% of portfolio |
ZBRA
Zebra Technologies Corp.
11.17% of portfolio |
KMX
CarMax Inc.
10.89% of portfolio |
ATVI
Activision Blizzard Inc.
9.71% of portfolio |
PGR
Progressive Corp.
8.30% of portfolio |
VSCO
Victoria's Secret & Co.
2.63% of portfolio |
QVCGA
Qurate Group Series A
1.14% of portfolio |
WHD
Cactus Inc.
0.94% of portfolio |
HEI.A
HEICO Corp. CL A
0.80% of portfolio | |||||||||