Tom Bancroft's portfolio
Makaira Partners · SEC CIK 1540866
Few names, long horizon, owner mindset.
This filing is 274 days old. Makaira Partners keeps roughly 93% of its positions in a typical quarter, so about 80% of this book is likely still intact today.
How half-life is computedSnapshot half-life is the number of days after the period end at which half of this specific fund's reported book is expected to have changed, measured from its own past filings. It is a decay estimate, not knowledge of current positions.
Largest holdings, as filed
Top 10 of 11 positions. Weights are against the whole filed book. 13F filings cover US-listed holdings only.
| Company | Ticker | Value | % of book | Freshness |
|---|---|---|---|---|
| CHARTER COMMUNICATIONS INC N | CHTR | $34.23M | 26.8% | |
| DOMINOS PIZZA INC | DPZ | $15.42M | 12.1% | |
| LAMAR ADVERTISING CO NEW | LAMR | $15.19M | 11.9% | |
| BATH & BODY WORKS INC | BBWI | $14.75M | 11.5% | |
| CDW CORP | CDW | $13.62M | 10.7% | |
| BEL FUSE INC | BELFB | $9.33M | 7.3% | |
| FLUTTER ENTMT PLC | $8.91M | 7.0% | n/a | |
| LIMBACH HLDGS INC | LMB | $7.96M | 6.2% | |
| CACTUS INC | WHD | $6.45M | 5.0% | |
| SAVERS VALUE VLG INC | SVV | $1.49M | 1.2% |
Freshness: how likely each position is still held today, from this fund's own turnover history, each position's tenure and the filing's age. Hover a bar for the numbers. Method.
What changed last quarter
Between Q3 2025 and Q4 2025, the largest add was LMB (shares up 96%), now $7.96M; the largest trim was LAMR (shares down 29%); BELFA no longer appears among the previous quarter's largest positions. All of it computed from the two filings, nothing inferred.
Biggest buys, Q4 2025
- LMB add +96%$7.96M
Exited since Q3 2025
- BELFAwas $465.5K
Exit scan covers the previous quarter's 40 largest positions, a stated bound, because reading a mega fund's entire book per page render is not honest engineering.
Common questions
What are Tom Bancroft's biggest holdings?
As of the Q4 2025 13F, the largest reported positions at Makaira Partners are CHTR (26.8% of the book), DPZ (12.1% of the book), LAMR (11.9% of the book).
How big is Makaira Partners's portfolio?
The latest 13F reports $127.90M across 11 US-listed positions. 13F filings cover US-listed holdings only, so non-US positions and shorts are not included.
Does Tom Bancroft still hold these positions?
Unknown for certain: a 13F may be filed up to 45 days after quarter end. Based on Makaira Partners's own filing history, the fund keeps roughly 93% of positions in a typical quarter, so at 274 days since the period end roughly 80% of this book is likely intact. The snapshot half-life for this fund is about 873 days.
What did Tom Bancroft buy and sell last quarter?
Between Q3 2025 and Q4 2025, the largest add was LMB (shares up 96%), now $7.96M; the largest trim was LAMR (shares down 29%); BELFA no longer appears among the previous quarter's largest positions. All of it computed from the two filings, nothing inferred.
Funds with overlapping books
Every 13F we hold, quarter by quarter
Each filing has its own page: the whole book as filed that quarter and what changed from the filing before.
Inside the app: the full book for Makaira Partners, quarter on quarter buys and sells, consensus across 140+ funds and copy-to-watchlist.
Source: SEC EDGAR 13F filings. Values are as filed and cover US-listed positions only. A 13F may be filed up to 45 days after the quarter ends, so positions can change before the filing is even public; the freshness figures above quantify that lag instead of hiding it. Educational information, not financial advice.