WhaleCreep

Broad Run Investment Management 13F holdings, Q4 2013

Long-only investorSEC filingsCompare with another fundHoldings as of 2013-12-31, filed 2014-02-11

Broad Run Investment Management disclosed 36 US equity positions worth $1.3bn in its Q4 2013 13F filing. Its largest position is ORLY at 8.9% of the reported book, followed by MKL and AMT. Versus Q3 2013 it opened 13 new positions, added to 22, reduced 0 and exited 0.

$1.3bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
36
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
8.9%
Largest position
The largest single position as a share of the reported equity book.
67.0%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
17
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 Q3 2013: 13 new, 22 added, 0 reduced, 0 exited

36 rows
ORLY OREILLY AUTOMOTIVE INCConsumer Cyclical8.9%$117m911,748+17%added
MKL MARKEL GROUP INCFinancial Services8.9%$117m201,763+8.8%added
AMT AMERICAN TOWER CORPReal Estate8.3%$110m1.38m+6.0%added
KMX CARMAX INCConsumer Cyclical7.4%$97.6m2.08m+12%added
BALLY TECHNOLOGIES INC no ticker–7.1%$93.4m1.19m+1.1%added
GOOGLE INC no ticker–5.9%$78.5m70,065+8.2%added
AON AON PLCFinancial Services5.5%$72.8m867,204+1.1%added
GLPI GAMING & LEISURE PReal Estate5.4%$70.9m1.40m–new
TWENTY FIRST CENTY FOX INC no ticker–4.9%$64.9m1.85m+7.2%added
SCHW SCHWAB CHARLES CORPFinancial Services4.7%$62.2m2.39m+18%added
ECPG ENCORE CAP GROUP INCFinancial Services4.5%$59.9m1.19m+18%added
MICROS SYS INC no ticker–4.3%$56.6m986,062+29%added
WKC WORLD KINECT CORPORATIONEnergy3.9%$51.4m1.19m+5.7%added
DKS DICKS SPORTING GOODS INCConsumer Cyclical3.6%$48.2m829,422+8.4%added
TROW PRICE T ROWE GROUP INCFinancial Services3.3%$44.0m524,647+57%added
AMERICAN WOODMARK CORPORATIO no ticker–2.4%$31.8m804,350+17%added
SSD SIMPSON MANUFACTURING CO INCBasic Materials2.4%$31.8m865,551+1.0%added
ROADRUNNER TRANSN SYS INC no ticker–1.9%$24.9m922,706+1.3%added
HSIC HENRY SCHEIN INCHealthcare1.6%$21.0m183,392+1.1%added
PENN PENN ENTERTAINMENT INCConsumer Cyclical1.5%$20.2m1.41m+0.2%held
NWSA NEWS CORP NEWCommunication Services1.1%$14.0m779,191+64%added
MRLNUSD MARLIN BUSINESS SVCS CORP–1.0%$12.7m505,286+1.4%added
BVE DIAMOND HILL INVT GROUP INC–0.8%$10.2m86,410+2.0%added
UTI WORLDWIDE INC no ticker–0.7%$9.0m512,728+1.6%added
MG MISTRAS GROUP INCIndustrials0.05%$693k33,200–new
BROOKFIELD ASSET MGMT INC no ticker–0.0%$15.0k390–new
VALEANT PHARMACEUTICALS INTL no ticker–0.0%$15.0k132–new
NOVEUR NATIONAL OILWELL VARCO INC–0.0%$15.0k188–new
EBAY EBAY INC.Consumer Cyclical0.0%$12.0k222–new
TDG TRANSDIGM GROUP INCIndustrials0.0%$12.0k74–new
ORCL ORACLE CORPTechnology0.0%$11.0k276–new
AIRGAS INC no ticker–0.0%$9.0k80–new
CHARTER COMMUNICATIONS INC D no ticker–0.0%$9.0k66–new
ITC HLDGS CORP no ticker–0.0%$9.0k94–new
GWW WW GRAINGER INCIndustrials0.0%$9.0k36–new
PRGO PERRIGO CO PLCHealthcare0.0%$9.0k58–new

Sector mix

  • Unclassified28.9%
  • Financial Services26.9%
  • Consumer Cyclical21.5%
  • Real Estate13.7%
  • Energy3.9%
  • Basic Materials2.4%
  • Healthcare1.6%
  • Communication Services1.1%
  • Industrials0.05%
  • Technology0.0%

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