Founded in 2007 by Tom Bancroft, Makaira Partners is a La Jolla-based investment firm that employs a disciplined, fundamental value-oriented philosophy. The firm’s strategy is deeply rooted in the principles practiced by Bancroft during his time managing GEICO’s equity portfolio at Berkshire Hathawa…
Founded in 2007 by Tom Bancroft, Makaira Partners is a La Jolla-based investment firm that employs a disciplined, fundamental value-oriented philosophy. The firm’s strategy is deeply rooted in the principles practiced by Bancroft during his time managing GEICO’s equity portfolio at Berkshire Hathaway, emphasizing a long-term horizon—often five years or more.
Core Strategic Pillars
Extreme Concentration: Makaira manages a highly focused portfolio, often holding fewer than 15 positions. As of late 2025, its top 10 holdings accounted for over 99% of reportable assets, reflecting high conviction in its best ideas.
Quality & Moats: The firm seeks established companies with durable competitive advantages and "owner-oriented" management teams that prioritize intelligent capital allocation.
Bottom-Up Research: The process relies on exhaustive quantitative and qualitative analysis to understand a company's business model and culture.
Team (3)
Sectors Makaira Partners serves:
Consumer Goods
Retail
Business Services
Industrials
Materials
Distribution
Consumer Services
Energy & Utilities
Technology
Health Care
Media
Financial Services
Manufacturing
Real Estate
Life Sciences
Telecommunications
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