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Lionstone Capital Management LLC

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13F filer, CIK 1575662, NEW YORK, NY

Lionstone Capital Management LLC reported $432,647,237 across 12 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 99.92% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001193125-26-053107

Period
2025-12-31
Reported value
$433M
Holdings
12
Top 10 weight
99.92%
New
0
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
FSVadded+29,520$4.59M
QXOadded+211,450$4.08M
GLIBKadded+1,889$70.3K

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

SecurityShares changeApprox. value
GOOGreduced-27,575-$8.65M
AMZNreduced-32,260-$7.45M
APGreduced-140,480-$5.37M
LOWreduced-20,120-$4.85M

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.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001193125-26-053107, largest first. % of portfolio is the value over $432,647,237, 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; 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; 2025Q4: 2,476,270 shares 2,476,270$94.7M21.9%-140,480Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 342,530 shares; 2024Q4: 342,530 shares; 2025Q1: 342,530 shares; 2025Q2: 261,120 shares; 2025Q3: 261,120 shares; 2025Q4: 233,545 shares 233,545$73.3M16.94%-27,575Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 334,500 shares; 2024Q4: 334,500 shares; 2025Q1: 334,500 shares; 2025Q2: 312,000 shares; 2025Q3: 312,000 shares; 2025Q4: 279,740 shares 279,740$64.6M14.92%-32,260Timeline
QXOQXO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,121,212 shares; 2025Q3: 2,121,212 shares; 2025Q4: 2,332,662 shares 2,332,662$45M10.4%+211,450Timeline
SPGIS&P GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 84,000 shares; 2024Q4: 84,000 shares; 2025Q1: 84,000 shares; 2025Q2: 84,000 shares; 2025Q3: 84,000 shares; 2025Q4: 84,000 shares 84,000$43.9M10.15%0Timeline
FSVFIRSTSERVICE CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 216,200 shares; 2024Q4: 216,200 shares; 2025Q1: 216,200 shares; 2025Q2: 216,200 shares; 2025Q3: 216,200 shares; 2025Q4: 245,720 shares 245,720$38.2M8.83%+29,520Timeline
FERGFERGUSON ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 161,048 shares; 2024Q4: 161,048 shares; 2025Q1: 161,048 shares; 2025Q2: 161,048 shares; 2025Q3: 161,048 shares; 2025Q4: 161,048 shares 161,048$35.9M8.29%0Timeline
CPRTCOPART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 776,300 shares; 2024Q4: 776,300 shares; 2025Q1: 776,300 shares; 2025Q2: 776,300 shares; 2025Q3: 776,300 shares; 2025Q4: 776,300 shares 776,300$30.4M7.02%0Timeline
LOWLOWES COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 55,950 shares; 2024Q4: 55,950 shares; 2025Q1: 55,950 shares; 2025Q2: 41,450 shares; 2025Q3: 41,450 shares; 2025Q4: 21,330 shares 21,330$5.14M1.19%-20,120Timeline
LBRDKLIBERTY BROADBAND CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,605 shares; 2024Q4: 24,605 shares; 2025Q1: 24,605 shares; 2025Q2: 24,605 shares; 2025Q3: 24,605 shares; 2025Q4: 24,605 shares 24,605$1.2M0.28%0Timeline
GLIBKLIBERTY CAP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,921 shares; 2025Q4: 6,810 shares 6,810$253K0.06%+1,889Timeline
UUUUENERGY FUELS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,760 shares; 2025Q1: 6,760 shares; 2025Q2: 6,760 shares; 2025Q3: 6,760 shares; 2025Q4: 6,760 shares 6,760$98.3K0.02%0Timeline

How Q4 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 0001193125-26-053107 base2026-02-17acceptance time not in the bulk data set