Lionstone Capital Management LLC

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, Lionstone Capital Management LLC maintained a portfolio of 12 distinct positions. They heavily accumulated shares in QXO INC, increasing their position by 10.0%. The fund also reduced its exposure to LOWES COS INC by 48.5%.
PCA Score Concentration Risk
Risk ENB
Total Positions
12
Quarter
2025 Q4
Top Holding
APG (21.9%)
Top 10 Concentration
99.9%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-12 of 12
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
APG
API GROUP CORP
Industrials 21.90% 21.02% #1
Prev: #1
6.5 -140,480 -5.4%
P
S
2,476,270 $94,742,090 2020 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
GOOG
ALPHABET INC
Communication Services 16.94% 14.86% #2 1
Prev: #3
6.0 -27,575 -10.6%
P
S
233,545 $73,286,421 2013 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
AMZN
AMAZON COM INC
Consumer Cyclical 14.92% 16.01% #3 1
Prev: #2
5.5 -32,260 -10.3%
P
S
279,740 $64,569,587 2022 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
QXO
QXO INC
Industrials 10.40% 9.45% #4 2
Prev: #6
6.5 211,450 10.0%
P
S
2,332,662 $44,997,050 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
SPGI
S&P GLOBAL INC
Financial Services 10.15% 9.55% #5
Prev: #5
5.5 no change no change
P
S
84,000 $43,897,560 2021 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
FSV
FIRSTSERVICE CO...
Real Estate 8.83% 9.63% #6 2
Prev: #4
5.5 29,520 13.7%
P
S
245,720 $38,216,832 2019 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
FERG
FERGUSON ENTERP...
Industrials 8.29% 8.45% #7
Prev: #7
4.3 no change no change
P
S
161,048 $35,854,116 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
CPRT
COPART INC
Industrials 7.02% 8.16% #8
Prev: #8
3.8 no change no change
P
S
776,300 $30,392,145 2020 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
LOW
LOWES COS INC
Consumer Cyclical 1.19% 2.43% #9
Prev: #9
0.5 -20,120 -48.5%
P
S
21,330 $5,143,943 2013 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
LBRDK
LIBERTY BROADBA...
Communication Services 0.28% 0.37% #10
Prev: #10
1.1 no change no change
P
S
24,605 $1,195,803 2020 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GLIBK
GCI LIBERTY INC
Communication Services 0.06% 0.04% #11
Prev: #11
2.5 1,889 38.4%
P
S
6,810 $253,400 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
UUUU
ENERGY FUELS IN...
Energy 0.02% 0.02% #12
Prev: #12
1.0 no change no change
P
S
6,760 $98,290 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-12 of 12 holdings

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