Lionstone Capital Management portfolio
Concentrated managerInvestment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 14, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Lionstone Capital Management reported a $435M portfolio of 11 positions to the SEC as of the end of Q2 2026. Its largest positions are APG, GOOG, AMZN. During the quarter it exited Lowe's.
Sections with a free account
What changed this quarter
3 positions with a change (2 added to, 1 sold). 3 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- Lowe's−1.2 ppof portfolioSold out1.2% → —
- FirstService+11%more sharesIncreased8.8% → 9.5%
- QXO+9.7%more sharesIncreased11.0% → 10.2%
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- APi GroupAPG24.1%
- AlphabetGOOG19.0%
- Amazon.comAMZN15.3%
- QXOQXO10.2%
- FirstServiceFSV9.5%
- Ferguson EnterprisesFERG8.8%
- S&P GlobalSPGI7.9%
- CopartCPRT5.0%
- Liberty BroadbandLBRDK0.2%
- Liberty CapitalGLIBKunder 0.1%
- Energy FuelsUUUUunder 0.1%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Industrials 48%
- ● Communication Services 19%
- ● Consumer Discretionary 15%
- ● Real Estate 10%
- ● Financials 8%
How its portfolio changed (8 quarters)
Q2 2026: 11
Q2 2026: 100%
Q2 2026: 1.5%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Mar 31, 2026 (high confidence).
The data, as reported: LIONSTONE CAPITAL MANAGEMENT LLC (CRD 157603): 7.B private funds: 4 hedge (gross assets $798M); 5.D assets by client type: pooled vehicles 100% (of $570M)
The type comes from a rule applied to that data. If it looks wrong, tell us.
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