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Livermore
Livermore
ZHEN

Stone Run Capital, LLC

SEC CIK
0001512746
Latest filing
Nov 14, 2025

The latest 13F from Stone Run Capital, LLC covers Q3 2025 (filed Nov 14, 2025): 71 long positions worth $253.9M. The top 10 holdings make up 38.3% of the portfolio, and the largest is Amphenol Corp (APH) at 4.6%. Livermore has 20 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2025

Share counts compared with Q2 2025: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
5
Est. +$1.15M
Added
13
Est. +$5.76M
Reduced
31
Est. −$7.49M
Sold out
2
Est. −$5.85M

Top 5 holdings

Share of this quarter's portfolio value

  1. APHAmphenol Corp
    4.6%$11.8MHistory
  2. HEIHeico Corp
    4.5%$11.4MHistory
  3. BRK.BBerkshire Hathaway Inc
    4.1%$10.3MHistory
  4. ADSKAutodesk, Inc.
    3.9%$10.0MHistory
  5. ANETArista Networks, Inc.
    3.8%$9.68MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. SNPSSynopsys Inc
    +$3.08MAddedHistory
  2. TMOThermo Fisher Scientific Inc.
    +$746.9KAddedHistory
  3. ENTGEntegris Inc
    +$614.9KAddedHistory
  4. PANWPalo Alto Networks Inc
    +$524.3KAddedHistory
  5. GOOGLAlphabet Inc.
    +$486.2KAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. SNPSSynopsys Inc
    +1.20 pp0.3% → 1.5%History
  2. TMOThermo Fisher Scientific Inc.
    +0.63 pp1.9% → 2.5%History
  3. GOOGLAlphabet Inc.
    +0.58 pp1.1% → 1.7%History
  4. ENTGEntegris Inc
    +0.38 pp1.1% → 1.5%History
  5. AXGNAxogen, Inc.
    +0.27 pp0.4% → 0.7%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. ANSSAnsys Inc
    −$5.63MSold outHistory
  2. MIDDMIDDLEBY Corp
    −$1.87MReducedHistory
  3. VLTOVeralto Corp
    −$778.3KReducedHistory
  4. BDXBecton Dickinson & Co
    −$608.1KReducedHistory
  5. SPGIS&P Global Inc.
    −$514.0KReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. ANSSAnsys Inc
    −2.25 pp2.3% → 0.0%History
  2. ITGartner Inc
    −0.91 pp2.5% → 1.6%History
  3. MIDDMIDDLEBY Corp
    −0.82 pp0.9% → 0.1%History
  4. FISVFiserv Inc
    −0.68 pp2.1% → 1.5%History
  5. ROPRoper Technologies Inc
    −0.59 pp3.7% → 3.1%History

Metrics

13F metrics for Q3 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$253.9M
+$3.74M (+1.5%) vs. prior quarter
Positions
71
+3 vs. prior quarter
Top 10 concentration
38.3%
Top 10 as share of value
Turnover
2.7%
Q3 2025, one quarter
Average holding period
15.6 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $309.6M (Q4 2021)

Q1 2021: $261.7MQ2 2021: $283.5MQ3 2021: $291.6MQ4 2021: $309.6MQ1 2022: $270.6MQ2 2022: $198.8MQ3 2022: $185.6MQ4 2022: $197.9MQ1 2023: $209.2MQ2 2023: $225.1MQ3 2023: $204.0MQ4 2023: $233.4MQ1 2024: $261.7MQ2 2024: $250.4MQ3 2024: $268.6MQ4 2024: $254.5MQ1 2025: $237.3MQ2 2025: $250.1MQ3 2025: $253.9M
Q1 2021Q3 2025
13F filings of Stone Run Capital, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2025Nov 14, 202571$253.9MAPHHEIBRK.Bvs. Q2 2025SEC
Q2 2025Aug 14, 202568$250.1MHEIADSKSPGIvs. Q1 2025SEC
Q1 2025May 14, 202566$237.3MBRK.BROPSPGIvs. Q4 2024SEC
Q4 2024Feb 14, 202568$254.5MSPGILIIADSKvs. Q3 2024SEC
Q3 2024Nov 14, 202470$268.6MHEISPGILIIvs. Q2 2024SEC
Q2 2024Aug 14, 202465$250.4MHEISPGIROPvs. Q1 2024SEC
Q1 2024May 14, 202466$261.7MMLMBRK.BLINvs. Q4 2023SEC
Q4 2023Feb 14, 202465$233.4MSPGIROPMLMvs. Q3 2023SEC
Q3 2023Nov 14, 202357$204.0MMLMLINSPGIvs. Q2 2023SEC
Q2 2023Aug 15, 2023Amended57$225.1MMLMSPGILINvs. Q1 2023SECSEC
Q1 2023May 15, 202357$209.2MLINROPDHRvs. Q4 2022SEC
Q4 2022Feb 14, 202358$197.9MDHRMLMLINvs. Q3 2022SEC
Q3 2022Nov 14, 202259$185.6MDHRMLMTMOvs. Q2 2022SEC
Q2 2022Aug 15, 202260$198.8MDHRSPGITMOvs. Q1 2022SEC
Q1 2022May 16, 202264$270.6MSPGIDHREWvs. Q4 2021SEC
Q4 2021Feb 14, 202262$309.6MEPAMINFODHRvs. Q3 2021SEC
Q3 2021Nov 15, 202164$291.6MDHRINFOEPAMvs. Q2 2021SEC
Q2 2021Aug 16, 202164$283.5MADSKINFOTECHvs. Q1 2021SEC
Q1 2021May 17, 202164$261.7MADSKIFFINFO–SEC