WhaleCreep

Broad Run Investment Management 13F holdings, Q2 2021

Long-only investorSEC filingsCompare with another fundHoldings as of 2021-06-30, filed 2021-08-16

Broad Run Investment Management disclosed 24 US equity positions worth $1.6bn in its Q2 2021 13F filing. Its largest position is BROOKFIELD ASSET MGMT INC at 10.6% of the reported book, followed by AMT and KMX. Versus Q1 2021 it opened 2 new positions, added to 3, reduced 18 and exited 0.

$1.6bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
24
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
10.6%
Largest position
The largest single position as a share of the reported equity book.
75.5%
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 Q1 2021: 2 new, 3 added, 18 reduced, 0 exited

24 rows
BROOKFIELD ASSET MGMT INC no ticker–10.6%$169m3.32m−5.9%reduced
AMT AMERICAN TOWER CORPReal Estate10.2%$162m601,300−1.5%reduced
KMX CARMAX INCConsumer Cyclical9.2%$147m1.14m−1.8%reduced
MKL MARKEL GROUP INCFinancial Services8.3%$132m111,518−1.4%reduced
AON AON PLCFinancial Services7.9%$127m531,655−1.8%reduced
ECPG ENCORE CAP GROUP INCFinancial Services7.6%$121m2.56m−2.8%reduced
ORLY OREILLY AUTOMOTIVE INCConsumer Cyclical6.7%$106m187,893−4.5%reduced
RH RHConsumer Cyclical5.7%$90.4m133,118−1.2%reduced
SSNC SS&C TECHNOLOGIES HLDGS INCTechnology4.7%$74.9m1.04m−1.5%reduced
NVR NVR INCConsumer Cyclical4.7%$74.3m14,948−1.0%reduced
AMERICAN WOODMARK CORPORATIO no ticker–4.6%$73.1m894,829−1.3%reduced
HXL HEXCEL CORP NEWIndustrials3.8%$61.5m984,887−1.3%reduced
GOOG ALPHABET INCCommunication Services3.3%$53.5m21,356−14%reduced
ALGT ALLEGIANT TRAVEL COIndustrials2.8%$44.1m227,448+27%added
CDW CDW CORPTechnology2.4%$37.9m217,154+65%added
DIS DISNEY WALT COCommunication Services2.1%$33.4m189,792−4.6%reduced
MRLNUSD MARLIN BUSINESS SVCS CORP–1.6%$26.1m1.15m−1.9%reduced
ASTS AST SPACEMOBILE INCTechnology1.5%$23.4m1.81m–new
META META PLATFORMS INCCommunication Services0.8%$13.0m37,429−5.4%reduced
FAST FASTENAL COIndustrials0.6%$10.3m197,907−48%reduced
MG MISTRAS GROUP INCIndustrials0.5%$7.7m785,984−0.8%reduced
DSEUR DRIVE SHACK INC–0.3%$5.4m1.65m+5.2%added
GOOGL ALPHABET INCCommunication Services0.1%$1.7m687−0.1%held
BROOKFIELD ASSET MGMT REINS no ticker–0.07%$1.2m22,366–new

Sector mix

  • Consumer Cyclical26.2%
  • Financial Services23.8%
  • Unclassified17.2%
  • Real Estate10.2%
  • Technology8.5%
  • Industrials7.7%
  • Communication Services6.4%

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