Broad Run Investment Management, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Broad Run Investment Management, LLC reported 24 stock positions worth $567.9 million. Its top holding was Ast Spacemobile (ASTS) at 21.4% of the portfolio, followed by Applied Materials (AMAT, 8.9%) and Brookfield (BN, 8.6%). Compared with Q4 2025, it opened 1 new position, sold out of 1, added to 2 and reduced 14. The biggest buy was a new position in Sunbelt Rentals (SUNB) and the biggest sale Brookfield (BN, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- ARLINGTON, VA
- CIK
- 0001568621
- Portfolio Value
- $567.9M (Q1 2026)
- SEC Filing
- 0001568621-26-000005 ↗ filed May 15, 2026
Holdings Value
Holdings 24 stocks · $567.9M
| ASTS Ast Spacemobile Inc. | 21.35% | 1,463,094 | $121.2M | Reduce -6.9% |
| AMAT Applied Materials Inc. | 8.93% | 148,320 | $50.7M | Reduce -5.6% |
| BN Brookfield Corp. | 8.63% | 1,210,847 | $49.0M | Reduce -0.3% |
| SUNB Sunbelt Rentals Holdings Inc. | 7.78% | 704,530 | $44.2M | New |
| MKL Markel Group Inc. | 6.98% | 20,709 | $39.6M | Add +0.9% |
| ORLY O'reilly Automotive Inc. | 6.16% | 378,688 | $35.0M | Reduce -5.0% |
| AON Aon PLC Class A | 5.75% | 101,157 | $32.7M | Reduce -5.1% |
| BAM Brookfield Asset Mgmt-A | 4.72% | 603,637 | $26.8M | Add +49.6% |
| HLT Hilton Worldwide Holdings Inc. | 3.43% | 64,139 | $19.5M | No change |
| AMT American Tower Corp. | 3.21% | 105,578 | $18.2M | Reduce -3.9% |
| NVR NVR Inc. | 3.10% | 2,673 | $17.6M | Reduce -4.0% |
| GOOG Alphabet Inc. Class C | 2.81% | 55,551 | $15.9M | Reduce -18.2% |
| CDW CDW Corp. | 2.66% | 124,611 | $15.1M | Reduce -1.0% |
| SHEN Shenandoah Telecommunication | 2.38% | 878,264 | $13.5M | Reduce -1.4% |
| DHR Danaher Corp. | 2.37% | 70,935 | $13.4M | No change |
| TDG Transdigm Group Inc. | 2.20% | 10,801 | $12.5M | No change |
| CCOI Cogent Communications Holdin | 2.20% | 663,200 | $12.5M | Reduce -0.1% |
| KMX Carmax Inc. | 2.08% | 284,385 | $11.8M | Reduce -0.4% |
| RH RH | 1.54% | 62,534 | $8.7M | Reduce -1.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.58% | 34,270 | $3.3M | Reduce -13.9% |
| FND Floor & Decor Holdings Inc. Class A | 0.55% | 62,000 | $3.1M | No change |
| RELX Relx PLC - Spon ADR | 0.27% | 47,000 | $1.6M | No change |
| BNT Brookfield Wealth Solutions | 0.17% | 23,581 | $976K | No change |
| GOOGL Alphabet Inc. Class A | 0.13% | 2,535 | $729K | No change |
Portfolio Sells Q4 2025 → Q1 2026
| BN Brookfield Corp. | Reduce -0.3% | 8.63% | −1.72 |
| AON Aon PLC Class A | Reduce -5.1% | 5.75% | −1.23 |
| GOOG Alphabet Inc. Class C | Reduce -18.2% | 2.81% | −1.15 |
| NVR NVR Inc. | Reduce -4.0% | 3.10% | −0.67 |
| ORLY O'reilly Automotive Inc. | Reduce -5.0% | 6.16% | −0.60 |
| RH RH | Reduce -1.6% | 1.54% | −0.57 |
| CDW CDW Corp. | Reduce -1.0% | 2.66% | −0.53 |
| ITOT iShares Core S&P Total U.S. | Sold out | 0.00% | −0.52 |
| CCOI Cogent Communications Holdin | Reduce -0.1% | 2.20% | −0.46 |
| AMT American Tower Corp. | Reduce -3.9% | 3.21% | −0.37 |
| DIS The Walt Disney Co. | Reduce -13.9% | 0.58% | −0.26 |
| KMX Carmax Inc. | Reduce -0.4% | 2.08% | +0.03 |
| ASTS Ast Spacemobile Inc. | Reduce -6.9% | 21.35% | +0.15 |
| SHEN Shenandoah Telecommunication | Reduce -1.4% | 2.38% | +0.47 |
| AMAT Applied Materials Inc. | Reduce -5.6% | 8.93% | +1.43 |
Portfolio Buys Q4 2025 → Q1 2026
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 |