WhaleCreep

Broad Run Investment Management 13F holdings, Q2 2024

Long-only investorSEC filingsCompare with another fundHoldings as of 2024-06-30, filed 2024-08-14

Broad Run Investment Management disclosed 25 US equity positions worth $730.2m in its Q2 2024 13F filing. Its largest position is BN at 7.9% of the reported book, followed by MKL and AMAT. Versus Q1 2024 it opened 0 new positions, added to 1, reduced 22 and exited 1.

$730m
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.
7.9%
Largest position
The largest single position as a share of the reported equity book.
69.5%
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 Q1 2024: 0 new, 1 added, 22 reduced, 1 exited

25 rows
BN BROOKFIELD CORPFinancial Services7.9%$57.4m1.38m−9.5%reduced
MKL MARKEL GROUP INCFinancial Services7.7%$56.2m35,645−14%reduced
AMAT APPLIED MATLS INCTechnology7.4%$54.0m228,974−18%reduced
ORLY OREILLY AUTOMOTIVE INCConsumer Cyclical7.4%$53.8m50,923−7.7%reduced
AON AON PLCFinancial Services7.3%$53.4m181,919−2.9%reduced
AMT AMERICAN TOWER CORPReal Estate7.2%$52.6m270,520−2.5%reduced
KMX CARMAX INCConsumer Cyclical6.9%$50.3m685,229−3.3%reduced
ECPG ENCORE CAP GROUP INCFinancial Services6.1%$44.8m1.07m−1.7%reduced
ASTS AST SPACEMOBILE INCTechnology6.1%$44.7m3.85m−2.7%reduced
CCOI COGENT COMMUNICATIONS HLDGSCommunication Services5.6%$40.6m719,263+14%added
CDW CDW CORPTechnology5.3%$39.0m174,207−2.1%reduced
NVR NVR INCConsumer Cyclical3.4%$24.9m3,277−11%reduced
RH RHConsumer Cyclical3.2%$23.5m96,163−2.2%reduced
BAM BROOKFIELD ASSET MANAGMT LTDFinancial Services2.8%$20.5m539,662−1.8%reduced
GOOG ALPHABET INCCommunication Services2.6%$18.7m102,046−28%reduced
HLT HILTON WORLDWIDE HLDGS INCConsumer Cyclical2.5%$18.4m84,279−12%reduced
DHR DANAHER CORP DELHealthcare2.4%$17.7m70,935−11%reduced
TDG TRANSDIGM GROUP INCIndustrials2.4%$17.6m13,794−19%reduced
SHEN SHENANDOAH TELECOMMUNICATIONCommunication Services2.1%$15.5m949,801−2.2%reduced
AMERICAN WOODMARK CORPORATIO no ticker–1.1%$7.8m99,807−54%reduced
DIS DISNEY WALT COCommunication Services0.9%$6.4m64,168−11%reduced
FND FLOOR & DECOR HLDGS INCConsumer Cyclical0.8%$6.2m62,000−0.4%held
WMG WARNER MUSIC GROUP CORPCommunication Services0.7%$5.1m165,6010.0%held
BROOKFIELD REINS LTD no ticker–0.09%$654k15,721−9.2%reduced
GOOGL ALPHABET INCCommunication Services0.07%$502k2,754−59%reduced

Exited since Q1 2024

1 row
SSNC SS&C TECHNOLOGIES HLDGS INC0.8%$6.7m

Sector mix

  • Financial Services31.8%
  • Consumer Cyclical24.2%
  • Technology18.9%
  • Communication Services11.9%
  • Real Estate7.2%
  • Healthcare2.4%
  • Industrials2.4%
  • Unclassified1.2%

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