Akre Capital

Q4 2016 13F · by Chuck Akre, portfolio manager

As of: Dec 31, 2016
Filed: May 9, 2017
US stock: $10.9B · prev $5.2B
Positions: 34 · prev 33
Options notional: $0
Documents: 2· 1 amendment

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves34 since the prior filing

+0.1 pp in · −0.0 pp out

New 2 +2.05 pp
Added 31 −1.96 pp
Trimmed 0 0.00 pp
Exited 1 −0.04 pp

The book

Concentrated · behaves like 16 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 0.1% a year, more than 30 years per position

Low
Moderate
High

Top 5 positions45% of US stock

AMT American Tower Corporation added−0.72 pp added−0.7213.0%
MA Mastercard Incorporated added−0.30 pp added−0.308.9%
MKL Markel Group Inc. added−0.65 pp added−0.658.5%
MCO Moody's Corporation added−0.34 pp added−0.348.1%
KMX CarMax Inc. added+1.01 pp added+1.016.1%

Revealed late, restated

revealed late 1 name revealed after the original — carried back to this quarter, never shown as a new buy 13F-HR/A · May 9, 2017 ↗

Positions34 in this filing · 1 exited


AMTAmerican Tower Corporation	12.99%	13,402,980	$1.4B	added×2.1	−0.72 pp	15 q
MAMastercard Incorporated	8.90%	9,402,782	$971M	added+100%	−0.30 pp	15 q
MKLMarkel Group Inc.	8.53%	1,027,878	$930M	added+100%	−0.65 pp	15 q
MCOMoody's Corporation	8.06%	9,321,328	$879M	added×2.3	−0.34 pp	15 q
KMXCarMax Inc.	6.09%	10,314,962	$664M	added×2.1	+1.01 pp	13 q
DLTRDollar Tree Inc.	5.93%	8,373,430	$646M	added×2.0	−0.41 pp	15 q
ESGREnstar Group Ltd	5.25%	2,895,520	$572M	added+100%	+0.67 pp	15 q
ROPRoper Technologies, Inc.	5.24%	3,119,084	$571M	added+100%	−0.23 pp	12 q
VVISA Inc.	5.18%	7,243,880	$565M	added×2.0	−0.56 pp	15 q
unresolvedSBA Comms Corp	4.67%	4,930,000	$509M	added×2.6	+0.65 pp	12 q
ORLYO'Reilly Automotive, Inc.	4.21%	1,647,746	$459M	added+99%	−0.24 pp	15 q
VRSKVerisk Analytics, Inc.	3.85%	5,169,186	$420M	added+100%	−0.19 pp	15 q
unresolvedColfax Corp	3.10%	9,400,000	$338M	added+54%	−0.58 pp	15 q
UBNTUbiquiti Inc.	2.84%	5,360,000	$310M	added×2.0	+0.09 pp	10 q
AMTTd Ameritrade Holding Corp	2.37%	5,935,000	$259M	added×2.0	+0.36 pp	15 q
DHRDanaher Corporation	2.36%	3,310,600	$258M	added×2.2	+0.10 pp	13 q
DGDollar General Corp.	2.04%	3,000,000	$222M	new	+2.04 pp	new
LKQLKQ Corporation	2.00%	7,100,000	$218M	added×2.0	−0.42 pp	7 q
MNROMonro, Inc.	1.60%	3,045,260	$174M	added×2.0	−0.17 pp	15 q
BRK.BBERKSHIRE HATHAWAY Class B	1.15%	767,778	$125M	added+99%	+0.08 pp	15 q
American Tower Corpconvertible	0.99%	1,029,496	$108M	added×2.0	−0.09 pp	7 q
FTVFortive Corporation	0.74%	1,500,000	$80M	added×2.0	+0.01 pp	2 q
BVEDiamond Hill Investment Grp	0.56%	291,000	$61M	added×2.0	+0.04 pp	15 q
PRMWPrimo Water Corp	0.38%	3,358,626	$41M	added×2.0	−0.01 pp	15 q
BRK.ABerkshire Hathaway Inc.	0.23%	104	$25M	added×2.0	+0.01 pp	15 q
ALRMAlarm.com Holdings, Inc.	0.20%	800,000	$22M	added×2.0	−0.02 pp	7 q
American Tower Corpconvertible	0.19%	200,000	$21M	added×2.0	−0.02 pp	11 q
DLTHDuluth Holdings Inc. Class B	0.16%	702,800	$18M	added×2.0	−0.02 pp	5 q
LAMRLamar Advertising Co	0.06%	97,060	$7M	added+97%	0.00 pp	9 q
unresolvedAmerican Intl Group Inc	0.05%	211,456	$5M	added×2.0	+0.01 pp	7 q
unresolvedWmih Corp	0.04%	2,920,000	$5M	added+95%	−0.03 pp	6 q
unresolvedBank Of America Corporation	0.03%	732,890	$3M	held	—	15 q
CSXCSX Corporation	0.03%	77,562	$3M	added×2.0	+0.01 pp	15 q
DISThe Walt Disney Company	0.01%	7,782	$812,000	new	+0.01 pp	new
Crown Castle Intl Corpconvertible	—	−20,000	—	exited	−0.04 pp	—

Source

Forms: 13F-HR · 13F-HR/A
Reading: 0 defects · 5 unresolved
Accession: 0001112520-17-000007
: 0001112520-17-000015
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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