Broad Run's top holdings (August 2025) include AST SpaceMobile Inc (ASTS), a company focused on building a space-based cellular broadband network.

Broad Run is an investment management firm that primarily focuses on fundamental research to identify long-term investment opportunities. The firm is known for its selective approach to portfolio construction, emphasizing a deep understanding of the companies in which it invests.

AST SpaceMobile Inc (ASTS)

AST SpaceMobile Inc is working to deploy a space-based cellular broadband network designed to connect directly to standard mobile phones. This innovative approach aims to provide global connectivity in areas traditionally underserved by terrestrial networks. The company's market capitalization is approximately $19.01 billion, with Broad Run's position currently valued at $199.72 million. A discounted cash flow analysis for the company suggests a value of $2.2 per share.
Here's an overview of Broad Run's trades in AST SpaceMobile Inc:

Brookfield Corporation (BN)

Brookfield Corporation operates as a global alternative asset manager, focusing on investments in real estate, infrastructure, renewable power, and private equity. The company manages a diverse portfolio of assets across various sectors worldwide. The current value of Broad Run's holding in Brookfield Corporation is $67.5 million, set against the company's market cap of roughly $80.06 billion.
Here's an overview of Broad Run's trades in Brookfield Corporation:

Markel Group Inc (MKL)

Markel Group Inc is a diversified financial holding company that operates through its insurance operations and Markel Ventures segment. Its insurance business provides various insurance and reinsurance products, while Markel Ventures owns and operates a diverse group of companies. The position in Broad Run's portfolio is currently worth $49.02 million, and Markel Group Inc has a market capitalization of about $25.71 billion. Furthermore, the company's discounted cash flow value is estimated at $1.8K.
Here's an overview of Broad Run's trades in Markel Group Inc:

Aon plc. (AON)

Aon plc. is a global professional services firm offering a wide range of risk, retirement, and health solutions. The company provides advice and solutions that help clients manage volatility, improve performance, and enable growth. Aon plc. maintains a market capitalization of approximately $80.52 billion, and Broad Run's holding in the company is valued at $41.65 million. The discounted cash flow value for Aon plc. is indicated at $354.87 per share.
Here's an overview of Broad Run's trades in Aon plc.:

Applied Materials Inc. (AMAT)

Applied Materials Inc. provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. Their products are essential for producing advanced chips for electronic devices and displays for televisions and mobile phones. Applied Materials Inc. has a market capitalization of around $149.02 billion, with Broad Run's position currently valued at $36.99 million. Analysts have set a price target of $194.25 for the company, and its discounted cash flow analysis suggests a value of $141.26 per share.
Here's an overview of Broad Run's trades in Applied Materials Inc.: