# EDGAR Filing Document

**Accession Number:** 0001540866
**File Stem:** 0001104659-25-086191
**Filing Date:** 2025-9
**Character Count:** 8073
**Document Hash:** d06864a2ee4b6a5dfb3e7beb5a869806
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-086191.hdr.sgml**: 20250902

**ACCESSION NUMBER**: 0001104659-25-086191

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250902

**EFFECTIVENESS DATE**: 20250902

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Makaira Partners LLC
- **CENTRAL INDEX KEY:** 0001540866

**ORGANIZATION NAME:**
- **EIN:** 205857256
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-14693
- **FILM NUMBER:** 251284032

**BUSINESS ADDRESS:**
- **STREET 1:** 7817 IVANHOE AVENUE
- **STREET 2:** #310
- **CITY:** LA JOLLA
- **STATE:** CA
- **ZIP:** 92037
- **BUSINESS PHONE:** 858 626-2929

**MAIL ADDRESS:**
- **STREET 1:** 7817 IVANHOE AVENUE
- **STREET 2:** #310
- **CITY:** LA JOLLA
- **STATE:** CA
- **ZIP:** 92037

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001540866

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Makaira Partners LLC

**Address:** 7817 IVANHOE AVE, LA JOLLA, CA 92037

**Telephone number:** 858-626-2929

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-14693

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 1

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                                               | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| SAVERS VALUE VILLAGE, INC.    | 80517M109 | 06/04/2025     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |        1078437 |                0 | FOR         |                                  1078437 | FOR                         |  |
| FLUTTER ENTERTAINMENT PLC     | G3643J108 | 06/05/2025     | Approval, on an advisory basis, of the compensation of our Named Executive Officers.                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         106422 |                0 | FOR         |                                   106422 | FOR                         |  |
| BATH  BODY WORKS, INC.        | 070830104 | 06/05/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |        1639039 |                0 | FOR         |                                  1639039 | FOR                         |  |
| ALIMENTATION COUCHE-TARD INC. | 01626P148 | 09/05/2024     | On an advisory basis and not to diminish the role and responsibilities of the board of directors that the shareholders accept the approach to executive compensation as disclosed in our 2024 management information circular. | SECTION 14A SAY-ON-PAY VOTES |          94466 |                0 | FOR         |                                    94466 | FOR                         |  |
| LIMBACH HOLDINGS, INC.        | 53263P105 | 06/11/2025     | To hold a non-binding advisory vote on the compensation of our named executive officers.                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |          50000 |                0 | FOR         |                                    50000 | FOR                         |  |
| CACTUS, INC.                  | 127203107 | 05/13/2025     | To approve, on a non-binding, advisory basis, the compensation of our named executive officers as reported in the Proxy Statement.                                                                                             | SECTION 14A SAY-ON-PAY VOTES |         237030 |                0 | FOR         |                                   237030 | FOR                         |  |
| HEICO CORPORATION             | 422806208 | 03/14/2025     | ADVISORY APPROVAL OF THE COMPANY'S EXECUTIVE COMPENSATION.                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |           2477 |                0 | FOR         |                                     2477 | FOR                         |  |
| CDW CORPORATION               | 12514G108 | 05/20/2025     | To approve, on an advisory basis, named executive officer compensation.                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |         155305 |                0 | FOR         |                                   155305 | FOR                         |  |
| DOMINO'S PIZZA, INC.          | 25754A201 | 04/23/2025     | Advisory vote to approve the compensation of the named executive officers of the Company.                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |          64964 |                0 | FOR         |                                    64964 | FOR                         |  |
| CARMAX, INC.                  | 143130102 | 06/24/2025     | To approve, in an advisory (non-binding) vote, the compensation of our named executive officers.                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |         272203 |                0 | AGAINST     |                                   272203 | AGAINST                     |  |
| BEL FUSE INC.                 | 077347201 | 05/27/2025     | With respect to the approval, on an advisory basis, of the executive compensation of Bel's named executive officers as described in the Proxy Statement                                                                        | SECTION 14A SAY-ON-PAY VOTES |           4001 |                0 | FOR         |                                     4001 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Makaira Partners LLC

**By (Signature):** ADAM J GARCIA

**By (Printed Signature):** ADAM J GARCIA

**By (Title):** PARTNER, COO  CFO

**Date:** 08/28/2025