Broad Run Investment Management 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Broad Run Investment Management disclosed 24 US equity positions worth $538.5m in its Q4 2025 13F filing. The largest position was ASTS at 21.2% of the reported book, followed by BN and MKL. Against the Q3 2025 filing, it opened 1 new position, added to 3 and reduced 8 among the top 24 holdings.
What did Broad Run Investment Management own in Q4 2025? Top 24 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | ASTS AST SPACEMOBILE INC | Technology | 21.2% | $114.2m | 1,571,837 | -56% | reduced |
| 2 | BN BROOKFIELD CORP | Financial Services | 10.4% | $55.8m | 1,214,963 | 50% | added |
| 3 | MKL MARKEL CORP | Financial Services | 8.2% | $44.1m | 20,525 | -0% | held |
| 4 | AMAT APPLIED MATLS INC | Technology | 7.5% | $40.4m | 157,103 | -3% | reduced |
| 5 | AON AON PLC | Financial Services | 7.0% | $37.6m | 106,567 | -0% | held |
| 6 | ORLY OREILLY AUTOMOTIVE INC | Consumer Cyclical | 6.8% | $36.4m | 398,754 | -0% | held |
| 7 | GOOG ALPHABET INC | Communication Services | 4.0% | $21.3m | 67,914 | -0% | held |
| 8 | BAM BROOKFIELD ASSET MANAGMT LTD | Financial Services | 3.9% | $21.1m | 403,356 | -0% | held |
| 9 | NVR NVR INC | Consumer Cyclical | 3.8% | $20.3m | 2,783 | -0% | held |
| 10 | AMT AMERICAN TOWER CORP NEW | Real Estate | 3.6% | $19.3m | 109,875 | -2% | reduced |
| 11 | HLT HILTON WORLDWIDE HLDGS INC | Consumer Cyclical | 3.4% | $18.4m | 64,139 | 0% | held |
| 12 | CDW CDW CORP | Technology | 3.2% | $17.1m | 125,837 | -2% | reduced |
| 13 | DHR DANAHER CORPORATION | Healthcare | 3.0% | $16.2m | 70,935 | 0% | held |
| 14 | TDG TRANSDIGM GROUP INC | Industrials | 2.7% | $14.4m | 10,801 | 0% | held |
| 15 | CCOI COGENT COMMUNICATIONS HLDGS | Communication Services | 2.7% | $14.3m | 663,700 | 3% | added |
| 16 | RH RH | Consumer Cyclical | 2.1% | $11.4m | 63,554 | -2% | reduced |
| 17 | KMX CARMAX INC | Consumer Cyclical | 2.0% | $11.0m | 285,542 | -5% | reduced |
| 18 | SHEN SHENANDOAH TELECOMMUNICATION | Communication Services | 1.9% | $10.3m | 891,096 | -1% | reduced |
| 19 | DIS DISNEY WALT CO | Communication Services | 0.8% | $4.5m | 39,806 | -5% | reduced |
| 20 | FND FLOOR & DECOR HLDGS INC | Consumer Cyclical | 0.7% | $3.8m | 62,000 | 0% | held |
| 21 | ISHARES TR | 0.5% | $2.8m | 18,657 | – | new | |
| 22 | RELX RELX PLC | Industrials | 0.4% | $1.9m | 47,000 | 0% | held |
| 23 | BROOKFIELD WEALTH SOL LTD | 0.2% | $1.1m | 23,581 | 50% | added | |
| 24 | GOOGL ALPHABET INC | Communication Services | 0.1% | $793.5k | 2,535 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.