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Value GiantsValue investors’ 13F holdings, as a whole
Q2 2026 13FData as of Aug 18, 2026
Quality value

Tom Bancroft

Q1 2026 13F: 0 holdings worth about $0; that quarter 0 new, 0 added, 0 trimmed, 11 sold out.

Firm: Makaira Partners LLC
Filer: Makaira Partners LLC CIK 1540866
Last filed: May 15, 2026 | Quality value | Not counted this quarter (A1 empty filing for 2026Q1, no filing for 2026Q2); below is the last counted quarter, Q1 2026.

13F lists only long positions in US-listed stocks (and some ETFs and convertibles); short positions, cash, bonds, shares listed outside the US and private companies are not shown, so this is not the giant’s whole portfolio.

Why This Giant Is Included

  • Rule numbers (Q2 2026): 1 holdings, top 10 = 0%, stocks —, options 0%; not met: A1 empty filing for 2026Q1, no filing for 2026Q2

Full selection rules →

13F value
$0
previous $127.9M (−100.0%)
Holdings
0
0 new / 11 sold out
Net deploymentest.
−97.5%
est. net buying ÷ last quarter’s portfolio
Top-10 concentration
0%
overlap with the composite 0%
Turnoverest.
0.0%
I

Trades in Q1 2026

Sorted by position shift: how many percentage points of the portfolio the trade moved.

How to Read This

Share changes are split-adjusted. Est. trade price = (start + end price) ÷ 2; 13F does not show the actual trade date or price.

MoveCompanyChange in sharesChange %Position shift (pts)Start → end priceEst. trade price
Sold outBBWIBath & Body Works, Inc−734.4K—0.00$20.08 → $18.67$19.37
Sold outBELFABel Fuse Inc−55.0K—0.00$151.80 → $180.20$166.00
Sold outCDWCDW Corp−100.0K—0.00$136.20 → $121.02$128.61
Sold outWHDCactus, Inc−141.3K—0.00$45.68 → $47.37$46.53
Sold outCHTRCharter Communications, Inc /mo−164.0K—0.00$208.75 → $215.88$212.31
Sold outDPZDomino’s Pizza Inc−37.0K—0.00$416.82 → $358.79$387.81
Sold outHEI.AHeico Corp−2.2K—0.00$252.43 → $211.09$231.76
Sold outLAMRLamar Advertising Co−120.0K—0.00$126.58 → $126.66$126.62
Sold outLMBLimbach Holdings, Inc−102.2K—0.00$77.85 → $78.05$77.95
Sold outSVVSavers Value Village, Inc−159.1K—0.00$9.34 → ——
Sold outFLUTFlutter Entertainment plc−41.4K—0.00$215.04 → $101.95$158.50
II

All Holdings (0 Companies)

Share classes of one company are combined; click a heading to re-sort.

How to Read This

Est. average cost: shares bought each quarter × (start + end price) ÷ 2, weighted; trims do not change the cost. Positions held before Q1 1999 (or the giant’s earliest electronic filing) start from that quarter’s price and are marked ‘start point’. vs cost = quarter-end price ÷ est. average cost − 1, excluding dividends.

CompanySectorWeight (prev.)SharesValueThis quarterFirst boughtQuarters heldEst. avg costQuarter-end pricevs costHistory
—
III

Portfolio Map: Size Is Weight, Colour Is Gain or Loss against Cost

How to Read This

Each block is a company (up to 60); area = portfolio weight. The darker the colour, the further the quarter-end price is above (or below) the estimated cost: light 5–25%, medium 25–100%, darkest over 100%; grey is within 5%.

above costbelow costwithin 5%
Portfolio Map
IV

Over Time

From Q4 2011, 58 quarters (this giant’s electronic 13F filings).

13F Value

13F Value$0$250.0M$500.0M$750.0MQ4 2011Q2 2013Q4 2014Q2 2016Q4 2017Q2 2019Q4 2020Q2 2022Q4 2023Q1 2026

Holdings

Holdings0510Q4 2011Q2 2013Q4 2014Q2 2016Q4 2017Q2 2019Q4 2020Q2 2022Q4 2023Q1 2026

Top-10 Concentration

Top-10 Concentration0%25%50%75%100%Q4 2011Q2 2013Q4 2014Q2 2016Q4 2017Q2 2019Q4 2020Q2 2022Q4 2023Q1 2026

Turnover (Est.)

Turnover0%10%20%Q4 2011Q2 2013Q4 2014Q2 2016Q4 2017Q2 2019Q4 2020Q2 2022Q4 2023Q1 2026

Sector Mix

Information technologyFinancialsCommunication & mediaConsumer discretionaryIndustrialsHealth careEnergyOther (incl. unclassified)
Sector Mix0%25%50%75%100%Q4 2011Q2 2013Q4 2014Q2 2016Q4 2017Q2 2019Q4 2020Q2 2022Q4 2023Q1 2026
V

Quarter by Quarter, with the Original Filings

* = not counted in that quarter’s totals. Links open the original SEC filing; 13F-HR/A is an amendment.

Show 58 Quarters
QuarterHoldingsNewSold out13F valueTurnoverNet deploymentSEC
Q1 20260011$00.0%−97.5%13F-HR
Q4 20251101$127.9M2.7%−23.4%13F-HR
Q3 20251201$194.7M0.0%−30.6%13F-HR
Q2 20251311$328.7M3.8%+1.7%13F-HR
Q1 20251321$298.2M4.2%−50.5%13F-HR
Q4 20241200$641.1M0.7%−16.4%13F-HR 13F-HR/A
Q3 20241210$777.7M5.5%−4.1%13F-HR
Q2 20241110$771.0M6.0%−1.4%13F-HR
Q1 20241011$828.7M11.6%+0.7%13F-HR
Q4 20231011$758.9M11.1%−9.9%13F-HR
Q3 20231000$767.0M2.2%+1.4%13F-HR
Q2 20231000$738.9M2.0%−3.6%13F-HR
Q1 20231001$766.0M7.4%+5.2%13F-HR
Q4 20221110$688.6M0.0%+5.6%13F-HR
Q3 20221010$604.2M0.0%+52.4%13F-HR
Q2 2022911$442.8M2.6%+6.2%13F-HR
Q1 2022902$486.3M4.9%+2.1%13F-HR 13F-HR/A
Q4 20211110$548.4M7.6%+14.2%13F-HR
Q3 20211032$473.1M22.7%−3.7%13F-HR
Q2 2021900$504.2M0.0%−2.8%13F-HR
Q1 2021900$473.3M0.0%−8.3%13F-HR
Q4 2020901$434.5M11.0%+1.5%13F-HR
Q3 20201000$362.0M0.0%0.0%13F-HR
Q2 20201002$322.1M1.1%−36.2%13F-HR
Q1 20201252$355.4M14.8%+4.7%13F-HR
Q4 2019901$455.5M0.5%−35.2%13F-HR
Q3 20191000$628.7M0.3%−5.8%13F-HR
Q2 20191010$690.8M1.1%−25.0%13F-HR
Q1 2019901$856.5M0.0%−2.5%13F-HR
Q4 20181011$769.5M13.0%−4.2%13F-HR
Q3 20181000$961.2M0.0%+4.3%13F-HR
Q2 20181022$881.7M25.0%+4.1%13F-HR
Q1 20181023$878.5M22.0%+2.3%13F-HR
Q4 20171112$830.0M8.6%+7.7%13F-HR
Q3 20171201$770.3M1.7%+0.8%13F-HR
Q2 20171300$765.5M0.0%+8.4%13F-HR
Q1 20171300$666.6M4.3%−5.0%13F-HR
Q4 20161310$687.9M1.2%−3.1%13F-HR
Q3 20161222$661.8M12.0%−4.7%13F-HR
Q2 20161221$683.5M14.2%+6.4%13F-HR
Q1 20161112$647.2M10.7%−1.6%13F-HR 13F-HR/A
Q4 20151200$606.0M3.5%−2.0%13F-HR
Q3 20151211$614.8M9.9%−1.0%13F-HR
Q2 20151233$651.1M8.8%+18.1%13F-HR
Q1 20151211$575.1M8.3%−3.1%13F-HR
Q4 20141231$566.7M8.8%−3.5%13F-HR
Q3 20141000$573.1M2.4%−3.4%13F-HR
Q2 20141000$603.6M0.5%+3.9%13F-HR
Q1 20141010$558.0M2.5%+3.4%13F-HR
Q4 2013901$539.7M3.2%+2.6%13F-HR
Q3 20131001$471.0M8.6%−7.4%13F-HR
Q2 2013 *1122$462.8M10.7%+51.8%13F-HR
Q1 2013 *1110$285.2M3.2%+11.0%13F-HR
Q4 2012 *1001$236.4M6.6%+12.2%13F-HR
Q3 2012 *1130$220.5M1.3%+86.0%13F-HR
Q2 2012 *800$112.9M4.2%+5.6%13F-HR
Q1 2012 *800$107.4M0.2%+0.6%13F-HR
Q4 2011 *800$94.4M——13F-HR 13F-HR/A
VI

Large Positions Sold Out

Positions that once made up 2% or more of the portfolio and were later sold out (latest 40): holding period and what became of the company, without profit or loss.

How to Read This

Sold out means the holding no longer appears on the 13F: it may have been sold, or the company was acquired or delisted. Company status is checked only for companies the giants together once held $100M or more of, from the company’s own SEC filings (for example 8-K item 1.03 = bankruptcy filing); a dash means not checked.

CompanyHeldPeak weightCompany since
CHTRCharter Communications, Inc /moQ4 2023 – Q1 202627%—
BBWIBath & Body Works, IncQ3 2021 – Q1 202618%Still filing with the SEC
CDWCDW CorpQ2 2013 – Q1 202618%—
LAMRLamar Advertising CoQ2 2022 – Q1 202614%—
DPZDomino’s Pizza IncQ3 2022 – Q1 202612%—
FLUTFlutter Entertainment plcQ3 2024 – Q1 202611%—
BELFABel Fuse IncQ1 2025 – Q1 20267%—
LMBLimbach Holdings, IncQ2 2025 – Q1 20266%—
WHDCactus, IncQ1 2024 – Q1 20265%—
SVVSavers Value Village, IncQ2 2024 – Q1 20265%—
KMXCarMax IncQ4 2018 – Q3 202512%—
PGRProgressive CorpQ3 2021 – Q2 202520%—
LBRDKLiberty BroadbandQ2 2018 – Q1 202534%—
ZBRAZebra Technologies CorpQ1 2016 – Q1 202419%Still filing with the SEC
ATVIActivision Blizzard IncQ4 2021 – Q4 202321%Acquired or delisted Oct 23, 2023
—Old QVC Group, IncQ2 2018 – Q1 202218%Bankruptcy filing more than 2 years after the sale Apr 17, 2026
VSXYVictoria’s Secret & CoQ3 2021 – Q1 20224%—
—Bath & Body Works, IncQ4 2017 – Q3 202119%Still filing with the SEC
CDKCDK Global II LLCQ1 2020 – Q3 20218%—
GLIBALiberty Capital CorpQ1 2018 – Q4 202015%Acquired or delisted Dec 31, 2020
IAAIaa IncQ1 2020 – Q2 20204%Acquired or delisted Mar 31, 2023
WAIRWesco Aircraft Holdings IncQ2 2013 – Q1 202020%Acquired or delisted Jan 21, 2020
VISNVistance Networks, IncQ2 2016 – Q1 201912%Still filing with the SEC
IRMIron Mountain IncQ2 2015 – Q4 201816%Still filing with the SEC
—Old QVC Group, IncQ4 2011 – Q2 201824%Bankruptcy filing more than 2 years after the sale Apr 17, 2026
VMIValmont IndustriesQ1 2014 – Q2 201815%—
LVNTALiberty VenturesQ2 2015 – Q1 201811%Bankruptcy filing more than 2 years after the sale Apr 17, 2026
CACCCredit Acceptance CorpQ2 2016 – Q1 20186%—
MMSMaximus IncQ4 2014 – Q1 20184%—
VRSNVerisign IncQ1 2013 – Q3 201616%—
CPLACapella Education CoQ4 2011 – Q3 20168%—
CVAReworld Holding CorpQ4 2011 – Q2 201614%Acquired or delisted Dec 10, 2021
—Ubiquiti IncQ1 2015 – Q1 20166%Still filing with the SEC
DORMDorman Products, IncQ2 2015 – Q3 20152%—
—Iron Mountain IncQ4 2011 – Q2 201513%Still filing with the SEC
—Old QVC Group, IncQ4 2014 – Q2 20153%No SEC record found
—Dorman Products IncQ4 2014 – Q2 20153%—
—Corecivic, IncQ4 2011 – Q1 201513%Still filing with the SEC
TWCTime Warner CableQ4 2011 – Q4 201414%Acquired or delisted Jul 25, 2016
LVNTALiberty VenturesQ3 2012 – Q4 20134%Bankruptcy filing more than 2 years after the sale Apr 17, 2026