Broad Run Investment Management, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Broad Run Investment Management, LLC reported 24 stock positions worth $736.0 million. Its top holding was Ast Spacemobile (ASTS) at 10.8% of the portfolio, followed by Brookfield (BN, 8.4%) and Aon Class A (AON, 7.9%). Compared with Q3 2024, it reduced 18. The biggest sale was American Tower (AMT, shares −15%).
- Most Recent 13F
- Q2 2026
- Location
- ARLINGTON, VA
- CIK
- 0001568621
- Portfolio Value
- $736.0M (Q4 2024)
- SEC Filing
- 0001568621-25-000002 ↗ filed Feb 14, 2025
Holdings Value
Holdings 24 stocks · $736.0M
| ASTS Ast Spacemobile Inc. | 10.82% | 3,773,407 | $79.6M | Reduce -0.7% |
| BN Brookfield Corp. | 8.38% | 1,073,486 | $61.7M | Reduce -17.3% |
| AON Aon PLC Class A | 7.86% | 161,176 | $57.9M | Reduce -5.0% |
| MKL Markel Group Inc. | 7.71% | 32,856 | $56.7M | Reduce -0.8% |
| CCOI Cogent Communications Holdin | 7.33% | 700,343 | $54.0M | Reduce -0.9% |
| ORLY O'reilly Automotive Inc. | 7.33% | 45,511 | $54.0M | Reduce -9.5% |
| ECPG Encore Capital Group Inc. | 6.16% | 948,801 | $45.3M | Reduce -10.7% |
| KMX Carmax Inc. | 5.72% | 514,597 | $42.1M | Reduce -23.5% |
| AMT American Tower Corp. | 5.24% | 210,435 | $38.6M | Reduce -14.5% |
| AMAT Applied Materials Inc. | 4.80% | 217,352 | $35.3M | Reduce -1.0% |
| CDW CDW Corp. | 4.06% | 171,503 | $29.8M | Reduce -0.6% |
| RH RH | 3.92% | 73,240 | $28.8M | Reduce -23.1% |
| NVR NVR Inc. | 3.52% | 3,164 | $25.9M | Reduce -0.8% |
| BAM Brookfield Asset Mgmt-A | 3.47% | 470,687 | $25.5M | Reduce -12.1% |
| HLT Hilton Worldwide Holdings Inc. | 2.72% | 80,879 | $20.0M | Reduce -4.0% |
| GOOG Alphabet Inc. Class C | 2.42% | 93,455 | $17.8M | Reduce -3.1% |
| TDG Transdigm Group Inc. | 2.38% | 13,794 | $17.5M | No change |
| DHR Danaher Corp. | 2.21% | 70,935 | $16.3M | No change |
| SHEN Shenandoah Telecommunication | 1.60% | 933,623 | $11.8M | Reduce -0.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.89% | 58,659 | $6.5M | Reduce -3.1% |
| FND Floor & Decor Holdings Inc. Class A | 0.84% | 62,000 | $6.2M | No change |
| WMG Warner Music Group Corp. Class A | 0.45% | 107,601 | $3.3M | No change |
| BNT Brookfield Wealth Solutions | 0.12% | 15,721 | $903K | No change |
| GOOGL Alphabet Inc. Class A | 0.07% | 2,754 | $521K | No change |
Portfolio Sells Q3 2024 → Q4 2024
| AMT American Tower Corp. | Reduce -14.5% | 5.24% | −1.67 |
| ASTS Ast Spacemobile Inc. | Reduce -0.7% | 10.82% | −1.18 |
| CDW CDW Corp. | Reduce -0.6% | 4.06% | −0.66 |
| KMX Carmax Inc. | Reduce -23.5% | 5.72% | −0.57 |
| AMAT Applied Materials Inc. | Reduce -1.0% | 4.80% | −0.55 |
| NVR NVR Inc. | Reduce -0.8% | 3.52% | −0.26 |
| SHEN Shenandoah Telecommunication | Reduce -0.8% | 1.60% | −0.00 |
| BN Brookfield Corp. | Reduce -17.3% | 8.38% | +0.05 |
| RH RH | Reduce -23.1% | 3.92% | +0.07 |
| ECPG Encore Capital Group Inc. | Reduce -10.7% | 6.16% | +0.09 |
| DIS The Walt Disney Co. | Reduce -3.1% | 0.89% | +0.18 |
| ORLY O'reilly Automotive Inc. | Reduce -9.5% | 7.33% | +0.34 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -4.0% | 2.72% | +0.37 |
| BAM Brookfield Asset Mgmt-A | Reduce -12.1% | 3.47% | +0.41 |
| GOOG Alphabet Inc. Class C | Reduce -3.1% | 2.42% | +0.47 |
| AON Aon PLC Class A | Reduce -5.0% | 7.86% | +0.78 |
| CCOI Cogent Communications Holdin | Reduce -0.9% | 7.33% | +0.85 |
| MKL Markel Group Inc. | Reduce -0.8% | 7.71% | +1.44 |
Portfolio Buys Q3 2024 → Q4 2024
| None this quarter. | |||
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 24 | $649.7M | ASTS, AMAT, SUNB, BN, MKL |
| Q1 2026 | 24 | $567.9M | ASTS, AMAT, BN, SUNB, MKL |
| Q4 2025 | 24 | $538.5M | ASTS, BN, MKL, AMAT, AON |
| Q3 2025 | 24 | $610.9M | ASTS, BN, ORLY, MKL, AON |
| Q2 2025 | 24 | $652.8M | ASTS, BN, MKL, AON, ORLY |
| Q1 2025 | 24 | $599.0M | ASTS, BN, AON, MKL, ORLY |
| Q4 2024 | 24 | $736.0M | ASTS, BN, AON, MKL, CCOI |
| Q3 2024 | 24 | $828.4M | ASTS, BN, AON, ORLY, AMT |
| Q2 2024 | 25 | $730.2M | BN, MKL, AMAT, ORLY, AON |
| Q1 2024 | 26 | $814.1M | BN, MKL, AON, ORLY, KMX |