WhaleCreep

Broad Run Investment Management 13F holdings, Q1 2017

Long-only investorSEC filingsCompare with another fundHoldings as of 2017-03-31, filed 2017-05-15

Broad Run Investment Management disclosed 25 US equity positions worth $2.7bn in its Q1 2017 13F filing. Its largest position is AMT at 11.2% of the reported book, followed by ORLY and MKL. Versus Q4 2016 it opened 1 new position, added to 19, reduced 0 and exited 0.

$2.7bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
25
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
11.2%
Largest position
The largest single position as a share of the reported equity book.
74.4%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
15
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 2016: 1 new, 19 added, 0 reduced, 0 exited

25 rows
AMT AMERICAN TOWER CORPReal Estate11.2%$296m2.44m+3.0%added
ORLY OREILLY AUTOMOTIVE INCConsumer Cyclical9.8%$261m968,304+3.5%added
MKL MARKEL GROUP INCFinancial Services9.3%$248m254,322+3.6%added
KMX CARMAX INCConsumer Cyclical7.5%$198m3.35m+2.9%added
BROOKFIELD ASSET MGMT INC no ticker–7.3%$193m5.28m+3.3%added
SCHW SCHWAB CHARLES CORPFinancial Services7.1%$187m4.59m+3.1%added
AON AON PLCFinancial Services6.4%$170m1.43m+4.4%added
HXL HEXCEL CORP NEWIndustrials6.1%$161m2.95m+3.4%added
TWENTY FIRST CENTY FOX INC no ticker–5.0%$132m4.07m+0.4%held
AMERICAN WOODMARK CORPORATIO no ticker–4.8%$129m1.40m+3.2%added
GLPI GAMING & LEISURE PReal Estate4.5%$121m3.61m+3.1%added
GOOG ALPHABET INCCommunication Services4.5%$118m142,480+6.1%added
ECPG ENCORE CAP GROUP INCFinancial Services3.4%$89.2m2.89m+5.2%added
WKC WORLD KINECT CORPORATIONEnergy2.5%$67.3m1.86m+4.2%added
GOOGL ALPHABET INCCommunication Services2.2%$59.3m69,9780.0%held
HSIC HENRY SCHEIN INCHealthcare2.1%$57.0m335,323+3.8%added
MG MISTRAS GROUP INCIndustrials1.2%$33.1m1.55m+6.7%added
MRLNUSD MARLIN BUSINESS SVCS CORP–1.2%$31.7m1.23m0.0%held
AME AMETEK INCIndustrials1.1%$30.5m563,221+4.2%added
PENN PENN ENTERTAINMENT INCConsumer Cyclical0.8%$22.1m1.20m0.0%held
BVE DIAMOND HILL INVT GROUP INC–0.8%$20.5m105,4150.0%held
TWENTY FIRST CENTY FOX INC no ticker–0.4%$10.6m332,256+49%added
DSEUR DRIVE SHACK INC–0.3%$8.5m2.04m–new
SBAC SBA COMMUNICATIONS CORPReal Estate0.3%$7.0m57,774+16%added
AZO AUTOZONE INCConsumer Cyclical0.2%$4.2m5,807+39%added

Sector mix

  • Financial Services26.2%
  • Unclassified19.7%
  • Consumer Cyclical18.3%
  • Real Estate16.0%
  • Industrials8.5%
  • Communication Services6.7%
  • Energy2.5%
  • Healthcare2.1%

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