WhaleCreep

Broad Run Investment Management 13F holdings, Q3 2024

Long-only investorSEC filingsCompare with another fundHoldings as of 2024-09-30, filed 2024-11-14

Broad Run Investment Management disclosed 24 US equity positions worth $828.4m in its Q3 2024 13F filing. Its largest position is ASTS at 12.0% of the reported book, followed by BN and AON. Versus Q2 2024 it opened 1 new position, added to 0, reduced 18 and exited 2.

$828m
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.
12.0%
Largest position
The largest single position as a share of the reported equity book.
71.8%
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 Q2 2024: 1 new, 0 added, 18 reduced, 2 exited

24 rows
ASTS AST SPACEMOBILE INCTechnology12.0%$99.3m3.80m−1.2%reduced
BN BROOKFIELD CORPFinancial Services8.3%$69.0m1.30m−6.1%reduced
AON AON PLCFinancial Services7.1%$58.7m169,626−6.8%reduced
ORLY OREILLY AUTOMOTIVE INCConsumer Cyclical7.0%$57.9m50,302−1.2%reduced
AMT AMERICAN TOWER CORPReal Estate6.9%$57.3m246,177−9.0%reduced
CCOI COGENT COMMUNICATIONS HLDGSCommunication Services6.5%$53.7m706,987−1.7%reduced
KMX CARMAX INCConsumer Cyclical6.3%$52.1m672,928−1.8%reduced
MKL MARKEL GROUP INCFinancial Services6.3%$51.9m33,110−7.1%reduced
ECPG ENCORE CAP GROUP INCFinancial Services6.1%$50.2m1.06m−1.1%reduced
AMAT APPLIED MATLS INCTechnology5.4%$44.3m219,453−4.2%reduced
CDW CDW CORPTechnology4.7%$39.0m172,493−1.0%reduced
RH RHConsumer Cyclical3.8%$31.9m95,251−0.9%reduced
NVR NVR INCConsumer Cyclical3.8%$31.3m3,190−2.7%reduced
BAM BROOKFIELD ASSET MANAGMT LTDFinancial Services3.1%$25.3m535,161−0.8%reduced
DHR DANAHER CORP DELHealthcare2.4%$19.7m70,9350.0%held
TDG TRANSDIGM GROUP INCIndustrials2.4%$19.7m13,7940.0%held
HLT HILTON WORLDWIDE HLDGS INCConsumer Cyclical2.3%$19.4m84,2790.0%held
GOOG ALPHABET INCCommunication Services1.9%$16.1m96,417−5.5%reduced
SHEN SHENANDOAH TELECOMMUNICATIONCommunication Services1.6%$13.3m941,221−0.9%reduced
FND FLOOR & DECOR HLDGS INCConsumer Cyclical0.9%$7.7m62,0000.0%held
DIS DISNEY WALT COCommunication Services0.7%$5.8m60,563−5.6%reduced
WMG WARNER MUSIC GROUP CORPCommunication Services0.4%$3.4m107,601−35%reduced
BROOKFIELD WEALTH SOL LTD no ticker–0.1%$836k15,721–new
GOOGL ALPHABET INCCommunication Services0.06%$457k2,7540.0%held

Exited since Q2 2024

2 rows
AMERICAN WOODMARK CORPORATIO no ticker1.1%$7.8m
BROOKFIELD REINS LTD no ticker0.09%$654k

Sector mix

  • Financial Services30.8%
  • Consumer Cyclical24.2%
  • Technology22.1%
  • Communication Services11.2%
  • Real Estate6.9%
  • Healthcare2.4%
  • Industrials2.4%
  • Unclassified0.1%

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