Broad Run Investment Management, LLC

CIK

1568621

Location

ARLINGTON, VA

Portfolio Value

Small $553,587,844

Diversification

Diversified

Filing Date

Global Rank

#2,468 / 8,622 ▲ 165 · as of Mar 2026

Top Industry

Communication Equipment 21.9%

3Y Alpha vs SPY

-3.5%

Period ended 4 months ago

Filed May 15, 2026 · 2mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+58.6%

SPY

+67.9%

Annualised alpha

-2.2%

Max drawdown

−24.7%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

23 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

21.9%

−0.3 pts

Top 5

55.4%

−1.4 pts

Top 10

79.2%

+0.0 pts

HHI

931

Diversified−29

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	33.8%	$187,021,314	3
Financial Services	26.9%	$149,100,824	5
Consumer Cyclical	17.3%	$95,792,522	6
Industrials	10.8%	$59,933,833	3
Communication Services	5.4%	$30,069,424	4
Real Estate	3.3%	$18,220,651	1
Healthcare	2.4%	$13,449,276	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

2 positions

Ticker	Company	Δ Shares	Shares	Value
BAM	Brookfield Asset Management Ltd.	+200,281	603,637	$26,831,664
MKL	Markel Group Inc.	+184	20,709	$39,638,473
No positions match the current search.

Trimmed

Positions the filer reduced

13 positions

Ticker	Company	Δ Shares	Shares	Value
ASTS	AST SpaceMobile, Inc.	−108,743	1,463,094	$121,246,599
ORLY	O Reilly Automotive Inc	−20,066	378,688	$34,956,689
SHEN	Shenandoah Telecommunications Co/Va/	−12,832	878,264	$13,542,830
AMAT	Applied Materials Inc /De	−8,783	148,320	$50,694,292
DIS	Walt Disney Co	−5,536	34,270	$3,302,942
AON	Aon plc	−5,410	101,157	$32,651,456
AMT	American Tower Corp /Ma/	−4,297	105,578	$18,220,651
BN	BROOKFIELD Corp /ON/	−4,116	1,210,847	$49,002,978
CDW	CDW Corp	−1,226	124,611	$15,080,423
KMX	Carmax Inc	−1,157	284,385	$11,824,728
RH	Rh	−1,020	62,534	$8,743,503
CCOI	Cogent Communications Holdings, Inc.	−500	663,200	$12,494,688
NVR	Nvr Inc	−110	2,673	$17,614,615
No positions match the current search.

New Positions

Positions the filer opened this quarter

1 positions

Ticker	Company	Shares	Value	Open
SUNB	Sunbelt Rentals Holdings, Inc.	704,530	$45,857,857
No positions match the current search.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

23 positions · $553,587,844 total · as of Mar 31, 2026

All sectors Communication Services Consumer Cyclical Financial Services Healthcare Industrials Real Estate Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
ASTS	AST SpaceMobile, Inc. Technology	Reduced	1,463,094	-108,743	$121,246,599	+6.2%	21.90%
AMAT	Applied Materials Inc /De Technology	Reduced	148,320	-8,783	$50,694,292	+25.6%	9.16%
BN	BROOKFIELD Corp /ON/ Financial Services	Reduced	1,210,847	-4,116	$49,002,978	−12.1%	8.85%
SUNB	Sunbelt Rentals Holdings, Inc. Industrials	NEW	704,530	NEW	$45,857,857	NEW	8.28%
MKL	Markel Group Inc. Financial Services	Added	20,709	+184	$39,638,473	−10.2%	7.16%
ORLY	O Reilly Automotive Inc Consumer Cyclical	Reduced	378,688	-20,066	$34,956,689	−3.9%	6.31%
AON	Aon plc Financial Services	Reduced	101,157	-5,410	$32,651,456	−13.2%	5.90%
BAM	Brookfield Asset Management Ltd. Financial Services	Added	603,637	+200,281	$26,831,664	+27.0%	4.85%
HLT	Hilton Worldwide Holdings Inc. Consumer Cyclical	Held	64,139	0	$19,503,387	+5.9%	3.52%
AMT	American Tower Corp /Ma/ Real Estate	Reduced	105,578	-4,297	$18,220,651	−5.5%	3.29%
NVR	Nvr Inc Consumer Cyclical	Reduced	2,673	-110	$17,614,615	−13.2%	3.18%
CDW	CDW Corp Technology	Reduced	124,611	-1,226	$15,080,423	−12.0%	2.72%
SHEN	Shenandoah Telecommunications Co/Va/ Communication Services	Reduced	878,264	-12,832	$13,542,830	+31.5%	2.45%
DHR	Danaher Corp /De/ Healthcare	Held	70,935	0	$13,449,276	−17.2%	2.43%
TDG	TransDigm Group INC Industrials	Held	10,801	0	$12,517,926	−12.9%	2.26%
CCOI	Cogent Communications Holdings, Inc. Communication Services	Reduced	663,200	-500	$12,494,688	−12.7%	2.26%
KMX	Carmax Inc Consumer Cyclical	Reduced	284,385	-1,157	$11,824,728	+7.2%	2.14%
RH	Rh Consumer Cyclical	Reduced	62,534	-1,020	$8,743,503	−23.2%	1.58%
DIS	Walt Disney Co Communication Services	Reduced	34,270	-5,536	$3,302,942	−27.1%	0.60%
FND	Floor & Decor Holdings, Inc. Consumer Cyclical	Held	62,000	0	$3,149,600	−16.6%	0.57%
RELX	Relx PLC Industrials	Held	47,000	0	$1,558,050	−18.0%	0.28%
BNT	Brookfield Wealth Solutions Ltd. Financial Services	Held	23,581	0	$976,253	−9.9%	0.18%
GOOGL	Alphabet Inc. Communication Services	Held	2,535	0	$728,964	−8.1%	0.13%