WhaleCreep

Broad Run Investment Management 13F holdings, Q1 2014

Long-only investorSEC filingsCompare with another fundHoldings as of 2014-03-31, filed 2014-05-15

Broad Run Investment Management disclosed 34 US equity positions worth $1.3bn in its Q1 2014 13F filing. Its largest position is ORLY at 10.3% of the reported book, followed by AMT and MKL. Versus Q4 2013 it opened 0 new positions, added to 17, reduced 1 and exited 2.

$1.3bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
34
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
10.3%
Largest position
The largest single position as a share of the reported equity book.
69.9%
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 Q4 2013: 0 new, 17 added, 1 reduced, 2 exited

34 rows
ORLY OREILLY AUTOMOTIVE INCConsumer Cyclical10.3%$136m915,640+0.4%held
AMT AMERICAN TOWER CORPReal Estate9.4%$124m1.51m+10.0%added
MKL MARKEL GROUP INCFinancial Services9.2%$121m202,643+0.4%held
KMX CARMAX INCConsumer Cyclical7.6%$100m2.14m+3.2%added
BALLY TECHNOLOGIES INC no ticker–6.0%$79.3m1.20m+0.5%added
GOOGLE INC no ticker–5.9%$78.4m70,347+0.4%held
GLPI GAMING & LEISURE PReal Estate5.8%$76.0m2.08m+49%added
AON AON PLCFinancial Services5.6%$73.5m871,796+0.5%added
TWENTY FIRST CENTY FOX INC no ticker–5.1%$67.4m2.11m+14%added
SCHW SCHWAB CHARLES CORPFinancial Services5.0%$65.7m2.40m+0.5%added
ECPG ENCORE CAP GROUP INCFinancial Services4.6%$60.5m1.32m+11%added
WKC WORLD KINECT CORPORATIONEnergy4.0%$52.8m1.20m+0.5%added
MICROS SYS INC no ticker–4.0%$52.4m990,666+0.5%held
DKS DICKS SPORTING GOODS INCConsumer Cyclical3.5%$45.5m833,404+0.5%held
TROW PRICE T ROWE GROUP INCFinancial Services3.3%$43.4m527,051+0.5%held
SSD SIMPSON MANUFACTURING CO INCBasic Materials2.3%$30.7m869,975+0.5%added
AMERICAN WOODMARK CORPORATIO no ticker–2.1%$27.1m804,3500.0%held
ROADRUNNER TRANSN SYS INC no ticker–1.8%$23.4m929,017+0.7%added
HSIC HENRY SCHEIN INCHealthcare1.7%$22.0m184,339+0.5%added
PENN PENN ENTERTAINMENT INCConsumer Cyclical1.1%$15.1m1.23m−13%reduced
BVE DIAMOND HILL INVT GROUP INC–0.9%$11.5m87,228+0.9%added
MRLNUSD MARLIN BUSINESS SVCS CORP–0.8%$10.6m509,274+0.8%added
BROOKFIELD ASSET MGMT INC no ticker–0.09%$1.2m30,240+7654%added
MG MISTRAS GROUP INCIndustrials0.07%$886k38,909+17%added
VALEANT PHARMACEUTICALS INTL no ticker–0.0%$17.0k1320.0%held
NOVEUR NATIONAL OILWELL VARCO INC–0.0%$15.0k1880.0%held
TDG TRANSDIGM GROUP INCIndustrials0.0%$14.0k740.0%held
EBAY EBAY INC.Consumer Cyclical0.0%$12.0k2220.0%held
ITC HLDGS CORP no ticker–0.0%$11.0k282+200%added
ORCL ORACLE CORPTechnology0.0%$11.0k2760.0%held
AIRGAS INC no ticker–0.0%$9.0k800.0%held
GWW WW GRAINGER INCIndustrials0.0%$9.0k360.0%held
PRGO PERRIGO CO PLCHealthcare0.0%$9.0k580.0%held
CHARTER COMMUNICATIONS INC D no ticker–0.0%$8.0k660.0%held

Exited since Q4 2013

2 rows
NWSA NEWS CORP NEW1.1%$14.0m
UTI WORLDWIDE INC no ticker0.7%$9.0m

Sector mix

  • Financial Services27.6%
  • Unclassified26.7%
  • Consumer Cyclical22.5%
  • Real Estate15.2%
  • Energy4.0%
  • Basic Materials2.3%
  • Healthcare1.7%
  • Industrials0.07%
  • 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