market folly

Tom Bancroft's hedge fund firm Makaira Partners has filed a 13G with the SEC regarding their position in Wesco Aircraft Holdings (WAIR).  Per the filing, Makaira now owns 7.5% of the company with over 7.37 million shares.

This is an increase of over 1.62 million shares since the end of the third quarter.  The filing was made due to portfolio activity on December 31st.  Wesco was already their top holding and they've further increased their stake.

If you're unfamiliar with Makaira, manager Tom Bancroft was listed as one of the people Todd Combs of Berkshire Hathaway would choose when asked who else he would hire.  The other two names were Lou Simpson and Meryl Witmer.   Makaira runs a smaller portfolio, with 10 stocks listed in their Q3 2014 13F filing. 

Per Google Finance, Wesco Aircraft "formerly Wesco Holdings, Inc., a holding company for Wesco Aircraft Hardware Corp. The Company is a distributor and provider of supply chain management services to the global aerospace industry. Its services range from traditional distribution to the management of supplier relationships, quality assurance, kitting, just-in-time (JIT), delivery and point-of-use inventory management."