Chuck Akre AKRE Capital Management
Chuck Akre is the founder of Akre Capital Management, known for a “compounding machine” philosophy focused on exceptional businesses, capable management, and reinvestment opportunity. The firm is famous for long holding periods and a concentrated portfolio of high-quality companies. Akre’s annual letters are a staple for investors studying quality-growth compounding.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Tower
AMT
|
+$38.6M |
| 2 |
Dollar Tree
DLTR
|
+$28.8M |
| 3 |
MWE
MARKWEST ENERGY PARTNERS, LP
MWE
|
+$27.8M |
| 4 |
Live Nation Entertainment
LYV
|
+$24.5M |
| 5 |
Ross Stores
ROST
|
+$21M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DTV
DIRECTV COM STK (DE)
DTV
|
+$76.8M |
| 2 |
NS
NuStar Energy L.P.
NS
|
+$40.8M |
| 3 |
NSH
NuStar GP Holdings LLC
NSH
|
+$906K |
| 4 |
Mastercard
MA
|
+$89.1K |
| 5 |
Moody's
MCO
|
+$41.7K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 49.25% |
| 2 | Real Estate | 11.45% |
| 3 | Healthcare | 10.76% |
| 4 | Consumer Discretionary | 10.52% |
| 5 | Consumer Staples | 6.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Mastercard
MA
$509B
| $331M | 12.26% |
3,964,630
-1,200
| -0% | -$89.1K |
|
|
2
Moody's
MCO
$87.2B
| $273M | 10.11% |
3,480,950
-570
| -0% | -$41.7K |
|
3
Enovis
ENOV
$1.5B
| $269M | 9.96% |
2,454,272
+180,775
| +8% | +$18.1M |
|
|
4
American Tower
AMT
$81.9B
| $266M | 9.83% |
3,326,376
+497,640
| +18% | +$38.6M |
|
5
Markel Group
MKL
$22.2B
| $221M | 8.18% |
380,717
+31,754
| +9% | +$17.2M |
|
|
6
Dollar Tree
DLTR
$25.3B
| $165M | 6.11% |
2,923,188
+499,420
| +21% | +$28.8M |
|
|
7
Ross Stores
ROST
$76.7B
| $136M | 5.03% |
3,624,286
+557,850
| +18% | +$21M |
|
8
Visa
V
$693B
| $112M | 4.14% |
2,009,720
| – | – |
|
9
O'Reilly Automotive
ORLY
$72.1B
| $106M | 3.91% |
12,319,545
-3,525
| -0% | -$29.7K |
|
|
AMTD
10
DELISTED
TD Ameritrade Holding Corp
AMTD
| $96.8M | 3.58% |
3,158,900
| – | – |
|
|
11
Live Nation Entertainment
LYV
$42.4B
| $90.1M | 3.34% |
4,558,300
+1,308,300
| +40% | +$24.5M |
|
12
LPL Financial
LPLA
$28.5B
| $80.7M | 2.99% |
1,715,000
+15,000
| +0.9% | +$629K |
|
|
ESGR
13
DELISTED
Enstar Group
ESGR
| $69.2M | 2.56% |
498,476
| – | – |
|
14
Jefferies Financial Group
JEF
$12.1B
| $56.7M | 2.1% |
2,234,256
| – | – |
|
15
Verisk Analytics
VRSK
$24.4B
| $52.6M | 1.95% |
800,000
| – | – |
|
16
Apple
AAPL
$4.51T
| $51.1M | 1.89% |
2,548,812
+700
| +0% | +$13.2K |
|
|
MWE
17
DELISTED
MARKWEST ENERGY PARTNERS, LP
MWE
| $46.6M | 1.73% |
704,935
+400,000
| +131% | +$27.8M |
|
18
Equinix
EQIX
$105B
| $39.4M | 1.46% |
222,300
+99,800
| +81% | +$16.6M |
|
19
Berkshire Hathaway Class B
BRK.B
$1.06T
| $35.9M | 1.33% |
303,041
+40
| +0% | +$4.63K |
|
|
DTV
20
DELISTED
DIRECTV COM STK (DE)
DTV
| $34.5M | 1.28% |
500,000
-1,200,000
| -71% | -$76.8M |
|
|
DISCK
21
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $33.5M | 1.24% |
800,000
| – | – |
|
22
Monro
MNRO
$392M
| $28.2M | 1.04% |
500,000
| – | – |
|
23
Danaher
DHR
$154B
| $21.6M | 0.8% |
+416,593
| New | +$20.5M |
|
|
DHIL
24
DELISTED
Diamond Hill
DHIL
| $17.2M | 0.64% |
145,500
| – | – |
|
25
Factset
FDS
$10.7B
| $14.1M | 0.52% |
130,000
| – | – |
|
Similar funds
Chuck Akre's Q4 2013 Portfolio in Review
As of Q4 2013, Chuck Akre held 40 positions worth $2.7B, up 15% from $2.34B the previous quarter. Its ten largest holdings account for 73% of the portfolio.
Chuck Akre deployed $108M of net new capital in Q4 2013, opening 5 new positions and adding to 12 existing holdings. Its largest new stake was Danaher: 416,593 shares worth $21.6M.
By sector, the portfolio is most concentrated in Financials at 49% of assets, up from 49% a quarter earlier, followed by Real Estate and Healthcare.
On the sell side, the largest reduction was DIRECTV COM STK (DE), an estimated $76.8M trimmed.
- Chuck Akre's largest Q4 2013 buy was Danaher: 416,593 shares worth $21.6M.
- Chuck Akre added most to American Tower in Q4 2013, an estimated $38.6M increase.
- Chuck Akre's biggest Q4 2013 reduction was DIRECTV COM STK (DE), cutting an estimated $76.8M.
- Chuck Akre fully exited NuStar Energy L.P. in Q4 2013, selling an estimated $40.8M.
- Chuck Akre's ten largest holdings make up 73% of its $2.7B portfolio in Q4 2013.
- Chuck Akre opened 5 new positions and closed 1 in Q4 2013.
- Chuck Akre's portfolio value rose 15% quarter-over-quarter to $2.7B.
Based on AKRE Capital Management's 13F filing for Q4 2013, filed 12 Feb 2014.