WhaleCreep

Broad Run Investment Management 13F holdings, Q3 2013

Long-only investorSEC filingsCompare with another fundHoldings as of 2013-09-30, filed 2013-11-13

Broad Run Investment Management disclosed 23 US equity positions worth $1.1bn in its Q3 2013 13F filing. Its largest position is ORLY at 9.1% of the reported book, followed by AMT and MKL. Versus Q2 2013 it opened 2 new positions, added to 11, reduced 0 and exited 2.

$1.1bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
23
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
9.1%
Largest position
The largest single position as a share of the reported equity book.
70.5%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
16
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
55
Quarters on file since Q4 2012
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q2 2013: 2 new, 11 added, 0 reduced, 2 exited

23 rows
ORLY OREILLY AUTOMOTIVE INCConsumer Cyclical9.1%$99.0m776,098+5.8%added
AMT AMERICAN TOWER CORPReal Estate8.8%$96.2m1.30m+25%added
MKL MARKEL GROUP INCFinancial Services8.8%$96.0m185,409+35%added
KMX CARMAX INCConsumer Cyclical8.3%$89.9m1.85m+0.3%held
BALLY TECHNOLOGIES INC no ticker–7.8%$84.9m1.18m+0.3%held
PENN PENN ENTERTAINMENT INCConsumer Cyclical7.1%$77.8m1.40m+0.3%held
AON AON PLCFinancial Services5.9%$63.8m857,387+13%added
TWENTY FIRST CENTY FOX INC no ticker–5.3%$57.7m1.72m–new
GOOGLE INC no ticker–5.2%$56.7m64,750+12%added
ECPG ENCORE CAP GROUP INCFinancial Services4.2%$46.2m1.01m+19%added
SCHW SCHWAB CHARLES CORPFinancial Services3.9%$43.0m2.03m+0.4%held
WKC WORLD KINECT CORPORATIONEnergy3.9%$42.0m1.13m+30%added
DKS DICKS SPORTING GOODS INCConsumer Cyclical3.7%$40.8m765,067+113%added
MICROS SYS INC no ticker–3.5%$38.1m763,165+30%added
SSD SIMPSON MANUFACTURING CO INCBasic Materials2.6%$27.9m856,595+0.3%held
ROADRUNNER TRANSN SYS INC no ticker–2.4%$25.7m911,291+0.3%held
TROW PRICE T ROWE GROUP INCFinancial Services2.2%$24.1m334,904+167%added
AMERICAN WOODMARK CORPORATIO no ticker–2.2%$23.8m685,687+0.3%held
HSIC HENRY SCHEIN INCHealthcare1.7%$18.8m181,380+0.3%held
MRLNUSD MARLIN BUSINESS SVCS CORP–1.1%$12.4m498,336+9.0%added
BVE DIAMOND HILL INVT GROUP INC–0.8%$9.1m84,695+0.4%held
NWSA NEWS CORP NEWCommunication Services0.7%$7.6m475,488–new
UTI WORLDWIDE INC no ticker–0.7%$7.6m504,708+0.5%held

Exited since Q2 2013

2 rows
NEWS CORP no ticker6.8%$61.7m
LAMAR ADVERTISING CO no ticker1.5%$13.2m

Sector mix

  • Unclassified29.0%
  • Consumer Cyclical28.2%
  • Financial Services25.1%
  • Real Estate8.8%
  • Energy3.9%
  • Basic Materials2.6%
  • Healthcare1.7%
  • Communication Services0.7%

Book over time

Every quarter on file (55)
QuarterPositionsEquity book
Q2 202624$650m
Q1 202624$568m
Q4 202524$538m
Q3 202524$611m
Q2 202524$653m
Q1 202524$599m
Q4 202424$736m
Q3 202424$828m
Q2 202425$730m
Q1 202426$814m
Q4 202326$748m
Q3 202325$757m
Q2 202325$845m
Q1 202326$839m
Q4 202228$830m
Q3 202222$913m
Q2 202224$1.1bn
Q1 202222$1.4bn
Q4 202123$1.6bn
Q3 202124$1.6bn
Q2 202124$1.6bn
Q1 202122$1.5bn
Q4 202022$1.5bn
Q3 202022$1.5bn
Q2 202022$1.5bn
Q1 202023$1.4bn
Q4 201922$2.3bn
Q3 201923$2.3bn
Q2 201922$2.3bn
Q1 201924$2.3bn
Q4 201823$2.2bn
Q3 201823$2.7bn
Q2 201822$2.9bn
Q1 201824$3.1bn
Q4 201724$3.1bn
Q3 201726$3.0bn
Q2 201726$2.9bn
Q1 201725$2.7bn
Q4 201624$2.4bn
Q3 201622$2.2bn
Q2 201623$2.1bn
Q1 201623$2.0bn
Q4 201522$1.9bn
Q3 201523$1.8bn
Q2 201523$1.7bn
Q1 201522$1.6bn
Q4 201422$1.4bn
Q3 201423$1.3bn
Q2 201425$1.4bn
Q1 201434$1.3bn
Q4 201336$1.3bn
Q3 201323$1.1bn
Q2 201323$907m
Q1 201317$607m
Q4 201218$541m

Where Broad Run Investment Management was early

15 rows
ECPG ENCORE CAP GROUP INCQ2 20131 of 783.1%10.1%50Exited by Q4 2025+26%
KMX CARMAX INCQ2 20132 of 1689.4%10.9%53Held at last filing, Q2 2026+15%
PENN PENN NATL GAMING INCQ2 20133 of 1768.2%8.2%20Exited by Q2 2018+119%
NWSA NEWS CORPQ3 20133 of 1400.7%1.1%2Exited by Q1 2014+12%
MG MISTRAS GROUP INCQ4 20131 of 490.05%1.5%38Exited by Q2 2023−68%
GLPI GAMING AND LEISURE PROPERTIES INCQ4 20135 of 1615.4%5.8%18Exited by Q2 2018−34%
HXL HEXCEL CORP NEWQ1 20152 of 1251.2%7.5%27Exited by Q4 2021+16%
AME AMETEK INC NEWQ1 20163 of 1300.5%2.2%18Exited by Q3 2020+79%
NVR NVR INCQ2 20178 of 1453.2%5.9%37Held at last filing, Q2 2026+183%
CWH CAMPING WORLD HLDGS INCQ3 20186 of 1282.0%2.0%5Exited by Q4 2019−58%
RH RHQ1 202010 of 2041.0%5.7%26Held at last filing, Q2 2026+64%
ALGT ALLEGIANT TRAVEL COQ3 20205 of 1021.0%2.9%10Exited by Q1 2023−43%
ASTS AST SPACEMOBILE INCQ2 20211 of 1081.5%28.6%21Held at last filing, Q2 2026+587%
BAM BROOKFIELD ASSET MANAGMT LTDQ4 20221 of 971.8%4.7%15Held at last filing, Q2 2026+56%
BN BROOKFIELD CORPQ4 20225 of 1158.0%10.4%15Held at last filing, Q2 2026+103%

Concentration and tenure

11.1%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
75.2%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
7
Median completed holding, quarters