Q3 2025 · 13F-HR
Broad Run Investment Management, LLCholdings as filed
Filed 2025-11-14 · accession 0001568621-25-000014
$610.9M
Reported value
24
Positions
2025-09-30
Period end
The Brief · Broad Run Investment Management, LLC · Q3 2025
AI · grounded in 13F
Broad Run Investment Management, LLC established a new position in ASTS valued at $174.6M. The fund also initiated new stakes in BN for $55.6M and ORLY for $43.1M. Additional new positions include MKL, AON, and AMAT. The fund ended the period with 24 positions and total AUM of $610.9M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 00217D100 | ASTS | AST SPACEMOBILE INC | $174.6M | 28.6% | 3,557,413 | Common | SOLE |
| 11271J107 | BN | BROOKFIELD CORP | $55.6M | 9.10% | 811,015 | Common | SOLE |
| 67103H107 | ORLY | OREILLY AUTOMOTIVE INC | $43.1M | 7.05% | 399,595 | Common | SOLE |
| 570535104 | MKL | MARKEL CORP | $39.3M | 6.43% | 20,547 | Common | SOLE |
| G0403H108 | AON | AON PLC | $38.0M | 6.22% | 106,617 | Common | SOLE |
| 038222105 | AMAT | APPLIED MATLS INC | $33.2M | 5.44% | 162,214 | Common | SOLE |
| 19239V302 | CCOI | COGENT COMMUNICATIONS HLDGS | $24.7M | 4.04% | 644,030 | Common | SOLE |
| 113004105 | BAM | BROOKFIELD ASSET MANAGMT LTD | $23.0M | 3.76% | 403,610 | Common | SOLE |
| 62944T105 | NVR | NVR INC | $22.4M | 3.66% | 2,786 | Common | SOLE |
| 03027X100 | AMT | AMERICAN TOWER CORP NEW | $21.6M | 3.53% | 112,276 | Common | SOLE |
| 12514G108 | CDW | CDW CORP | $20.5M | 3.35% | 128,518 | Common | SOLE |
| 43300A203 | HLT | HILTON WORLDWIDE HLDGS INC | $16.6M | 2.72% | 64,139 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $16.6M | 2.72% | 68,209 | Common | SOLE |
| 893641100 | TDG | TRANSDIGM GROUP INC | $14.2M | 2.33% | 10,801 | Common | SOLE |
| 235851102 | DHR | DANAHER CORPORATION | $14.1M | 2.30% | 70,935 | Common | SOLE |
| 143130102 | KMX | CARMAX INC | $13.5M | 2.20% | 300,111 | Common | SOLE |
| 74967X103 | RH | RH | $13.1M | 2.15% | 64,603 | Common | SOLE |
| 82312B106 | SHEN | SHENANDOAH TELECOMMUNICATION | $12.0M | 1.97% | 897,475 | Common | SOLE |
| 254687106 | DIS | DISNEY WALT CO | $4.8M | 0.79% | 42,094 | Common | SOLE |
| 339750101 | FND | FLOOR & DECOR HLDGS INC | $4.6M | 0.75% | 62,000 | Common | SOLE |
| 759530108 | RELX | RELX PLC | $2.2M | 0.37% | 47,000 | Common | SOLE |
| 292554102 | ECPG | ENCORE CAP GROUP INC | $1.5M | 0.24% | 35,733 | Common | SOLE |
| G17434104 | BNT | BROOKFIELD WEALTH SOL LTD | $1.1M | 0.18% | 15,721 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $616,259 | 0.10% | 2,535 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.