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Akre Capital

Q1 2019 13F · by Chuck Akre, portfolio manager

As of
Mar 31, 2019
Filed
May 13, 2019
US stock
$9.5B · prev $7.9B
Positions
25 · prev 25
Options notional
$0
Documents
1· no amendments

Picture94.8% US stock

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

  • US stock listed on a US exchange 94.8%
  • Foreign stock not listed in the US 5.2%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves15 since the prior filing

The book

Concentrated · behaves like 12 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Low turnover · 2.0% a year, more than 30 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions55% of US stock

  1. AMT American Tower Corporation added+0.80 pp added+0.8014.9%
  2. MA Mastercard Incorporated added+0.52 pp added+0.5213.2%
  3. MCO Moody's Corporation added+0.79 pp added+0.7910.9%
  4. V VISA Inc. held held8.1%
  5. ORLY O'Reilly Automotive, Inc. added−0.49 pp added−0.497.7%

Positions25 in this filing · 0 exited

AMTAmerican Tower Corporation14.95%7,186,828$1.4Badded+2%+0.80 pp24 q
MAMastercard Incorporated13.24%5,327,915$1.3Badded0%+0.52 pp24 q
MCOMoody's Corporation10.86%5,682,371$1.0Badded0%+0.79 pp24 q
VVISA Inc.8.06%4,887,270$763Mheld—24 q
ORLYO'Reilly Automotive, Inc.7.73%1,887,335$733Madded0%−0.49 pp24 q
ROPRoper Technologies, Inc.5.66%1,567,399$536Madded0%+0.37 pp21 q
DLTRDollar Tree Inc.5.64%5,086,615$534Madded0%−0.17 pp24 q
MKLMarkel Group Inc.5.39%513,130$511Madded0%−1.35 pp24 q
unresolvedSBA Comms Corp5.19%2,465,000$492Mheld—21 q
KMXCarMax Inc.4.48%6,077,981$424Madded+5%−0.11 pp22 q
UBNTUbiquiti Inc.4.23%2,680,000$401Mheld—19 q
VRSKVerisk Analytics, Inc.3.57%2,543,775$338Madded0%+0.06 pp24 q
KKRKKR & Co. Inc.3.16%12,753,600$300Madded+1%+0.02 pp4 q
DHRDanaher Corporation2.31%1,655,300$219Mheld—22 q
AMTTd Ameritrade Holding Corp1.77%3,350,000$167Mheld—24 q
2JEFocus Financial Partners-a1.12%2,970,000$106Mheld—3 q
ESGREnstar Group Ltd0.84%455,447$79Mtrimmed−49%−1.06 pp24 q
BRK.BBERKSHIRE HATHAWAY Class B0.61%286,246$58Madded0%−0.13 pp24 q
PRMWPrimo Water Corp0.47%2,858,679$44Madded0%−0.03 pp24 q
ALRMAlarm.com Holdings, Inc.0.41%600,770$39Mheld—16 q
BRK.ABerkshire Hathaway Inc.0.13%42$13Mheld—24 q
BVEDiamond Hill Investment Grp0.08%56,694$8Mtrimmed−14%−0.04 pp24 q
BOCBoston Omaha Corporation0.06%242,396$6Mheld—8 q
LAMRLamar Advertising Co0.04%48,530$4Mheld—18 q
GSHDGoosehead Insurance, Inc. Class A0.01%38,331$1Madded×3.2+0.01 pp2 q

Source

Form
13F-HR
Reading
1 defect · 1 unresolved
Accession
0001112520-19-000015
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet
  • A security outside the official 13F list — CUSIP 78388J106 not on the Official 13(f) List for 2019-03-31