Broad Run Investment Management, LLC Long-Term Concentrated

Name: Broad Run Investment Management, LLC Q4 2025 13F Filing | 13F Explorer
Creator: Broad Run Investment Management, LLC
Published: 2026-02-17

Location: Arlington, VA

CIK: 0001568621 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 17, 2026

Total Value: $538M (100.0% shares, 0.0% debt)

Holdings (24)

ASTS AST SPACEMOBILE INC 21.2%

Value $114M Shares 1,571,837 Est. Cost $6.51 Unrealized +996.0%

BN BROOKFIELD CORP 10.4%

Value $55.75M Shares 1,214,963 Est. Cost $29.76 Unrealized +53.0%

MKL MARKEL CORP 8.2%

Value $44.12M Shares 20,525 Est. Cost $597.59 Unrealized +239.0%

AMAT APPLIED MATLS INC 7.5%

Value $40.37M Shares 157,103 Est. Cost $130.69 Unrealized +83.2%

AON AON PLC 7.0%

Value $37.61M Shares 106,567 Est. Cost $178.56 Unrealized +95.5%

ORLY OREILLY AUTOMOTIVE INC 6.8%

Value $36.37M Shares 398,754 Est. Cost $85.24 Unrealized +14.6%

GOOG ALPHABET INC 4.0%

Value $21.31M Shares 67,914 Est. Cost $107.05 Unrealized +167.5%

BAM BROOKFIELD ASSET MANAGMT LTD 3.9%

Value $21.13M Shares 403,356 Est. Cost $29.04 Unrealized +84.1%

NVR NVR INC 3.8%

Value $20.3M Shares 2,783 Est. Cost $3286.93 Unrealized +127.5%

AMT AMERICAN TOWER CORP NEW 3.6%

Value $19.29M Shares 109,875 Est. Cost $65.47 Unrealized +175.4%

HLT HILTON WORLDWIDE HLDGS INC 3.4%

Value $18.42M Shares 64,139 Est. Cost $168.73 Unrealized +61.3%

CDW CDW CORP 3.2%

Value $17.14M Shares 125,837 Est. Cost $146.74 Unrealized +0.2%

DHR DANAHER CORPORATION 3.0%

Value $16.24M Shares 70,935 Est. Cost $230.89 Unrealized -4.9%

TDG TRANSDIGM GROUP INC 2.7%

Value $14.36M Shares 10,801 Est. Cost $741.62 Unrealized +76.7%

CCOI COGENT COMMUNICATIONS HLDGS 2.7%

Value $14.31M Shares 663,700 Est. Cost $52.54 Unrealized -43.9%

RH RH 2.1%

Value $11.39M Shares 63,554 Est. Cost $242.72 Unrealized -29.5%

KMX CARMAX INC 2.0%

Value $11.03M Shares 285,542 Est. Cost $52.56 Unrealized -23.9%

SHEN SHENANDOAH TELECOMMUNICATION 1.9%

Value $10.3M Shares 891,096 Est. Cost $21.84 Unrealized -45.8%

DIS DISNEY WALT CO 0.8%

Value $4.529M Shares 39,806 Est. Cost $117.02 Unrealized -6.4%

FND FLOOR & DECOR HLDGS INC 0.7%

Value $3.775M Shares 62,000 Est. Cost $113.54 Unrealized -42.9%

ITOT ISHARES TR 0.5%

Value $2.774M Shares 18,657 Est. Cost $148.69 Unrealized —

RELX RELX PLC 0.4%

Value $1.9M Shares 47,000 Est. Cost $50.41 Unrealized —

BNT BROOKFIELD WEALTH SOL LTD 0.2%

Value $1.084M Shares 23,581 Est. Cost $36.07 Unrealized +26.4%

GOOGL ALPHABET INC 0.1%

Value $793K Shares 2,535 Est. Cost $106.26 Unrealized +168.8%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ASTS	AST SPACEMOBILE INC	1,571,837	$114M	21.2%	$6.51	+996.0%	COM CL A	00217D100
BN	BROOKFIELD CORP	1,214,963	$55.75M	10.4%	$29.76	+53.0%	CL A LTD VT SH	11271J107
MKL	MARKEL CORP	20,525	$44.12M	8.2%	$597.59	+239.0%	COM	570535104
AMAT	APPLIED MATLS INC	157,103	$40.37M	7.5%	$130.69	+83.2%	COM	038222105
AON	AON PLC	106,567	$37.61M	7.0%	$178.56	+95.5%	SHS CL A	G0403H108
ORLY	OREILLY AUTOMOTIVE INC	398,754	$36.37M	6.8%	$85.24	+14.6%	COM	67103H107
GOOG	ALPHABET INC	67,914	$21.31M	4.0%	$107.05	+167.5%	CAP STK CL C	02079K107
BAM	BROOKFIELD ASSET MANAGMT LTD	403,356	$21.13M	3.9%	$29.04	+84.1%	CL A LMT VTG SHS	113004105
NVR	NVR INC	2,783	$20.3M	3.8%	$3286.93	+127.5%	COM	62944T105
AMT	AMERICAN TOWER CORP NEW	109,875	$19.29M	3.6%	$65.47	+175.4%	COM	03027X100
HLT	HILTON WORLDWIDE HLDGS INC	64,139	$18.42M	3.4%	$168.73	+61.3%	COM	43300A203
CDW	CDW CORP	125,837	$17.14M	3.2%	$146.74	+0.2%	COM	12514G108
DHR	DANAHER CORPORATION	70,935	$16.24M	3.0%	$230.89	-4.9%	COM	235851102
TDG	TRANSDIGM GROUP INC	10,801	$14.36M	2.7%	$741.62	+76.7%	COM	893641100
CCOI	COGENT COMMUNICATIONS HLDGS	663,700	$14.31M	2.7%	$52.54	-43.9%	COM NEW	19239V302
RH	RH	63,554	$11.39M	2.1%	$242.72	-29.5%	COM	74967X103
KMX	CARMAX INC	285,542	$11.03M	2.0%	$52.56	-23.9%	COM	143130102
SHEN	SHENANDOAH TELECOMMUNICATION	891,096	$10.3M	1.9%	$21.84	-45.8%	COM	82312B106
DIS	DISNEY WALT CO	39,806	$4.529M	0.8%	$117.02	-6.4%	COM	254687106
FND	FLOOR & DECOR HLDGS INC	62,000	$3.775M	0.7%	$113.54	-42.9%	CL A	339750101
ITOT	ISHARES TR	18,657	$2.774M	0.5%	$148.69	—	CORE S&P TTL STK	464287150
RELX	RELX PLC	47,000	$1.9M	0.4%	$50.41	—	SPONSORED ADR	759530108
BNT	BROOKFIELD WEALTH SOL LTD	23,581	$1.084M	0.2%	$36.07	+26.4%	CL A EXCHANGEAB	G17434104
GOOGL	ALPHABET INC	2,535	$793K	0.1%	$106.26	+168.8%	CAP STK CL A	02079K305