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 |
FOCS
Focus Financial Partners Inc. Class A
FOCS
|
+$117M |
| 2 |
Dollar Tree
DLTR
|
+$4.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ESGR
Enstar Group
ESGR
|
+$31.3M |
| 2 |
Boston Omaha
BOC
|
+$2.04M |
| 3 |
Mastercard
MA
|
+$523K |
| 4 |
American Tower
AMT
|
+$480K |
| 5 |
Markel Group
MKL
|
+$386K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 51.01% |
| 2 | Real Estate | 16.66% |
| 3 | Consumer Discretionary | 12.83% |
| 4 | Technology | 8.89% |
| 5 | Consumer Staples | 4.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Mastercard
MA
$509B
| $1.19B | 13.85% |
5,327,165
-2,506
| -0% | -$523K |
|
|
2
American Tower
AMT
$81.9B
| $1.03B | 11.99% |
7,068,048
-3,271
| -0% | -$480K |
|
3
Moody's
MCO
$87.2B
| $950M | 11.09% |
5,681,621
-1,192
| -0% | -$210K |
|
4
Visa
V
$693B
| $734M | 8.56% |
4,887,270
| – | – |
|
5
O'Reilly Automotive
ORLY
$72.1B
| $655M | 7.65% |
28,309,605
-15,345
| -0.1% | -$326K |
|
|
6
Markel Group
MKL
$22.2B
| $610M | 7.12% |
513,090
-328
| -0.1% | -$386K |
|
7
Roper Technologies
ROP
$40.7B
| $462M | 5.39% |
1,559,194
-440
| -0% | -$130K |
|
|
8
Dollar Tree
DLTR
$25.3B
| $415M | 4.84% |
5,086,035
+53,479
| +1% | +$4.7M |
|
9
SBA Communications
SBAC
$19.4B
| $396M | 4.62% |
2,465,000
| – | – |
|
10
CarMax
KMX
$8.82B
| $392M | 4.58% |
5,254,491
| – | – |
|
11
Verisk Analytics
VRSK
$24.4B
| $307M | 3.58% |
2,543,442
-1,111
| -0% | -$129K |
|
12
KKR & Co
KKR
$97.4B
| $273M | 3.18% |
10,000,000
| – | – |
|
13
Ubiquiti
UI
$33.8B
| $265M | 3.09% |
2,680,000
| – | – |
|
|
ESGR
14
DELISTED
Enstar Group
ESGR
| $244M | 2.85% |
1,169,714
-147,288
| -11% | -$31.3M |
|
15
Danaher
DHR
$154B
| $180M | 2.1% |
1,867,178
| – | – |
|
|
AMTD
16
DELISTED
TD Ameritrade Holding Corp
AMTD
| $157M | 1.83% |
2,967,500
| – | – |
|
|
FOCS
17
DELISTED
Focus Financial Partners Inc. Class A
FOCS
| $131M | 1.52% |
+2,750,000
| New | +$117M |
|
18
Berkshire Hathaway Class B
BRK.B
$1.06T
| $61.3M | 0.72% |
286,076
-500
| -0.2% | -$103K |
|
|
PRMW
19
DELISTED
Primo Water Corporation
PRMW
| $51.3M | 0.6% |
2,843,220
| – | – |
|
20
Alarm.com
ALRM
$2.82B
| $34.5M | 0.4% |
600,770
| – | – |
|
|
21
Berkshire Hathaway Class A
BRK.A
$1.06T
| $13.4M | 0.16% |
42
| – | – |
|
|
DHIL
22
DELISTED
Diamond Hill
DHIL
| $10.9M | 0.13% |
65,848
| – | – |
|
|
23
Boston Omaha
BOC
$426M
| $7.89M | 0.09% |
263,834
-86,166
| -25% | -$2.04M |
|
24
Lamar Advertising Co
LAMR
$15.3B
| $3.78M | 0.04% |
48,530
| – | – |
|
Similar funds
Chuck Akre's Q3 2018 Portfolio in Review
As of Q3 2018, Chuck Akre held 24 positions worth $8.56B, up 8.2% from $7.92B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Trading was light in Q3 2018: portfolio turnover was 4.2%. Chuck Akre opened 1 new position and made no exits, leaving the 24-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 51% of assets, up from 50% a quarter earlier, followed by Real Estate and Consumer Discretionary.
- Chuck Akre's largest Q3 2018 buy was Focus Financial Partners Inc. Class A: 2,750,000 shares worth $131M.
- Chuck Akre added most to Dollar Tree in Q3 2018, an estimated $4.7M increase.
- Chuck Akre's biggest Q3 2018 reduction was Enstar Group, cutting an estimated $31.3M.
- Chuck Akre's ten largest holdings make up 80% of its $8.56B portfolio in Q3 2018.
- Chuck Akre opened 1 new position and closed 0 in Q3 2018.
- Chuck Akre's portfolio value rose 8.2% quarter-over-quarter to $8.56B.
Based on AKRE Capital Management's 13F filing for Q3 2018, filed 15 Nov 2018.