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Lionstone Capital Management LLC

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13F filer, CIK 1575662, NEW YORK, NY

Lionstone Capital Management LLC reported $427,882,938 across 12 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 99.93% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001193125-25-282101

Period
2025-09-30
Reported value
$428M
Holdings
12
Top 10 weight
99.93%
New
1
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
APGadded+872,250$30M
GLIBKnew+4,921$183K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

None.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001193125-25-282101, largest first. % of portfolio is the value over $427,882,938, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
APGAPI GROUP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,089,800 shares; 2024Q4: 2,089,800 shares; 2025Q1: 2,089,800 shares; 2025Q2: 1,744,500 shares; 2025Q3: 2,616,750 shares 2,616,750$89.9M21.02%+872,250Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 334,500 shares; 2024Q4: 334,500 shares; 2025Q1: 334,500 shares; 2025Q2: 312,000 shares; 2025Q3: 312,000 shares 312,000$68.5M16.01%0Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 342,530 shares; 2024Q4: 342,530 shares; 2025Q1: 342,530 shares; 2025Q2: 261,120 shares; 2025Q3: 261,120 shares 261,120$63.6M14.86%0Timeline
FSVFIRSTSERVICE CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 216,200 shares; 2024Q4: 216,200 shares; 2025Q1: 216,200 shares; 2025Q2: 216,200 shares; 2025Q3: 216,200 shares 216,200$41.2M9.63%0Timeline
SPGIS&P GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 84,000 shares; 2024Q4: 84,000 shares; 2025Q1: 84,000 shares; 2025Q2: 84,000 shares; 2025Q3: 84,000 shares 84,000$40.9M9.55%0Timeline
QXOQXO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,121,212 shares; 2025Q3: 2,121,212 shares 2,121,212$40.4M9.45%0Timeline
FERGFERGUSON ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 161,048 shares; 2024Q4: 161,048 shares; 2025Q1: 161,048 shares; 2025Q2: 161,048 shares; 2025Q3: 161,048 shares 161,048$36.2M8.45%0Timeline
CPRTCOPART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 776,300 shares; 2024Q4: 776,300 shares; 2025Q1: 776,300 shares; 2025Q2: 776,300 shares; 2025Q3: 776,300 shares 776,300$34.9M8.16%0Timeline
LOWLOWES COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 55,950 shares; 2024Q4: 55,950 shares; 2025Q1: 55,950 shares; 2025Q2: 41,450 shares; 2025Q3: 41,450 shares 41,450$10.4M2.43%0Timeline
LBRDKLIBERTY BROADBAND CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,605 shares; 2024Q4: 24,605 shares; 2025Q1: 24,605 shares; 2025Q2: 24,605 shares; 2025Q3: 24,605 shares 24,605$1.56M0.37%0Timeline
GLIBKLIBERTY CAP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,921 shares 4,921$183K0.04%newTimeline
UUUUENERGY FUELS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,760 shares; 2025Q1: 6,760 shares; 2025Q2: 6,760 shares; 2025Q3: 6,760 shares 6,760$104K0.02%0Timeline

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001193125-25-282101 base2025-11-14acceptance time not in the bulk data set