Broad Run Investment Management 13F, Q4 2025
Broad Run Investment · quarter ending 31 December 2025 · filed 17 February 2026 · SEC CIK 1568621
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q4 2025
Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| AST SPACEMOBILE INC | ASTS | $114.16M | 21.2% | -56% shares |
| BROOKFIELD CORP | BN | $55.75M | 10.3% | +50% shares |
| MARKEL CORP | MKL | $44.12M | 8.2% | unchanged |
| APPLIED MATLS INC | AMAT | $40.37M | 7.5% | -3% shares |
| AON PLC | $37.61M | 7.0% | unchanged | |
| OREILLY AUTOMOTIVE INC | ORLY | $36.37M | 6.8% | unchanged |
| ALPHABET INC | GOOG | $21.31M | 4.0% | unchanged |
| BROOKFIELD ASSET MANAGMT LTD | BAM | $21.13M | 3.9% | unchanged |
| NVR INC | NVR | $20.30M | 3.8% | unchanged |
| AMERICAN TOWER CORP NEW | AMT | $19.29M | 3.6% | -2% shares |
| HILTON WORLDWIDE HLDGS INC | HLT | $18.42M | 3.4% | unchanged |
| CDW CORP | CDW | $17.14M | 3.2% | -2% shares |
| DANAHER CORPORATION | DHR | $16.24M | 3.0% | unchanged |
| TRANSDIGM GROUP INC | TDG | $14.36M | 2.7% | unchanged |
| COGENT COMMUNICATIONS HLDGS | CCOI | $14.31M | 2.7% | +3% shares |
| RH | RH | $11.39M | 2.1% | unchanged |
| CARMAX INC | KMX | $11.03M | 2.0% | -5% shares |
| SHENANDOAH TELECOMMUNICATION | SHEN | $10.30M | 1.9% | unchanged |
| DISNEY WALT CO | DIS | $4.53M | 0.8% | -5% shares |
| FLOOR & DECOR HLDGS INC | FND | $3.78M | 0.7% | unchanged |
| ISHARES TR | ITOT | $2.77M | 0.5% | new |
| RELX PLC | RELX | $1.90M | 0.3% | unchanged |
| BROOKFIELD WEALTH SOL LTD | $1.08M | 0.2% | +50% shares | |
| ALPHABET INC | GOOGL | $793.5K | 0.1% | unchanged |
What changed since Q3 2025
Against the Q3 2025 filing, Broad Run Investment Management opened 1 new position, added to 3, trimmed 6, left 14 unchanged and exited 1. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001568621-26-000003, filed by Broad Run Investment Management, LLC. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.