Akre Capital

Q1 2017 13F · by Chuck Akre, portfolio manager

As of: Mar 31, 2017
Filed: May 15, 2017
US stock: $6.1B · prev $10.9B
Positions: 31 · prev 34
Options notional: $0
Documents: 1· no amendments

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%

Moves33 since the prior filing

0.0 pp in · −0.2 pp out

New 0 0.00 pp
Added 0 0.00 pp
Trimmed 30 +0.07 pp
Exited 3 −0.22 pp

The book

Concentrated · behaves like 14 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 0.0% a year

Low
Moderate
High

Top 5 positions49% of US stock

Positions31 in this filing · 3 exited


AMTAmerican Tower Corporation	13.38%	6,699,098	$814M	trimmed−50%	+0.39 pp	16 q
MCOMoody's Corporation	10.46%	5,679,831	$636M	trimmed−39%	+2.40 pp	16 q
MAMastercard Incorporated	9.85%	5,329,183	$599M	trimmed−43%	+0.95 pp	16 q
MKLMarkel Group Inc.	8.24%	513,914	$502M	trimmed−50%	−0.29 pp	16 q
VVISA Inc.	7.14%	4,889,020	$434M	trimmed−33%	+1.96 pp	16 q
DLTRDollar Tree Inc.	5.41%	4,195,913	$329M	trimmed−50%	−0.52 pp	16 q
ROPRoper Technologies, Inc.	5.30%	1,562,410	$323M	trimmed−50%	+0.06 pp	13 q
KMXCarMax Inc.	5.02%	5,157,481	$305M	trimmed−50%	−1.07 pp	14 q
unresolvedSBA Comms Corp	4.88%	2,465,000	$297M	trimmed−50%	+0.21 pp	13 q
ESGREnstar Group Ltd	4.55%	1,446,269	$277M	trimmed−50%	−0.70 pp	16 q
ORLYO'Reilly Automotive, Inc.	3.66%	825,009	$223M	trimmed−50%	−0.55 pp	16 q
VRSKVerisk Analytics, Inc.	3.46%	2,590,486	$210M	trimmed−50%	−0.39 pp	16 q
unresolvedColfax Corp	3.03%	4,697,300	$184M	trimmed−50%	−0.07 pp	16 q
DHRDanaher Corporation	2.33%	1,655,300	$142M	trimmed−50%	−0.03 pp	14 q
UBNTUbiquiti Inc.	2.21%	2,680,000	$135M	trimmed−50%	−0.63 pp	11 q
AMTTd Ameritrade Holding Corp	1.90%	2,967,500	$115M	trimmed−50%	−0.47 pp	16 q
DGDollar General Corp.	1.72%	1,500,000	$105M	trimmed−50%	−0.32 pp	2 q
LKQLKQ Corporation	1.71%	3,550,000	$104M	trimmed−50%	−0.29 pp	8 q
MNROMonro, Inc.	1.37%	1,597,630	$83M	trimmed−48%	−0.23 pp	16 q
BRK.BBERKSHIRE HATHAWAY Class B	1.05%	384,249	$64M	trimmed−50%	−0.10 pp	16 q
American Tower Corpconvertible	0.95%	514,748	$57M	trimmed−50%	−0.04 pp	8 q
FTVFortive Corporation	0.74%	750,000	$45M	trimmed−50%	0.00 pp	3 q
BVEDiamond Hill Investment Grp	0.47%	145,500	$28M	trimmed−50%	−0.09 pp	16 q
PRMWPrimo Water Corp	0.37%	1,679,313	$23M	trimmed−50%	−0.01 pp	16 q
ALRMAlarm.com Holdings, Inc.	0.20%	400,000	$12M	trimmed−50%	0.00 pp	8 q
American Tower Corpconvertible	0.19%	100,000	$11M	trimmed−50%	0.00 pp	12 q
BRK.ABerkshire Hathaway Inc.	0.17%	42	$10M	trimmed−60%	−0.06 pp	16 q
unresolvedBank Of America Corporation	0.14%	732,890	$8M	held	—	16 q
LAMRLamar Advertising Co	0.06%	48,530	$4M	trimmed−50%	0.00 pp	10 q
unresolvedWmih Corp	0.03%	1,460,000	$2M	trimmed−50%	−0.01 pp	7 q
CSXCSX Corporation	0.00%	4,899	$228,000	trimmed−94%	−0.03 pp	16 q
DLTHDuluth Holdings Inc. Class B	—	−702,800	—	exited	−0.16 pp	—
unresolvedAmerican Intl Group Inc	—	−211,456	—	exited	−0.05 pp	—
DISThe Walt Disney Company	—	−7,782	—	exited	−0.01 pp	—