Akre Capital

Q2 2024 13F · by John Neff, portfolio manager

Picture100.0% US stock

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

+1.9 pp in · −1.8 pp out

Very concentrated · behaves like 9 equal-sized positions

Low turnover · 6.2% a year, about 16.1 years per position


MAMastercard Incorporated	15.68%	4,039,349	$1.8B	trimmed−56%	−2.69 pp	45 q
MCOMoody's Corporation	15.63%	4,221,104	$1.8B	trimmed−53%	+1.15 pp	45 q
KKRKKR & Co. Inc.	12.68%	13,689,816	$1.4B	trimmed−54%	+0.30 pp	25 q
AMTAmerican Tower Corporation	10.49%	6,134,307	$1.2B	trimmed−51%	+0.36 pp	45 q
ORLYO'Reilly Automotive, Inc.	8.88%	956,079	$1.0B	trimmed−52%	−0.35 pp	45 q
ROPRoper Technologies, Inc.	7.66%	1,543,679	$870M	trimmed−50%	+0.49 pp	42 q
VVISA Inc.	7.56%	3,271,740	$859M	trimmed−50%	+0.01 pp	45 q
BNBrookfield Corporation	6.75%	18,465,882	$767M	trimmed−49%	+0.53 pp	7 q
CSGPCoStar Group Inc	5.72%	8,770,423	$650M	trimmed−40%	−0.08 pp	19 q
DHRDanaher Corporation	3.90%	1,775,400	$444M	trimmed−50%	+0.23 pp	43 q
KMXCarMax Inc.	1.38%	2,145,509	$157M	trimmed−60%	−0.57 pp	43 q
ABNBAirbnb, Inc. Class A	1.25%	935,876	$142M	new	+1.25 pp	new
SBACSBA Communications Corp	0.86%	500,000	$98M	added+38%	+0.54 pp	3 q
CCCCCC Intelligent Solutions Holdings Inc.	0.76%	7,815,722	$87M	trimmed−44%	+0.07 pp	2 q
DBRGDigitalBridge Group, Inc.	0.44%	3,643,094	$50M	trimmed−56%	−0.22 pp	20 q
GSHDGoosehead Insurance, Inc. Class A	0.19%	366,125	$21M	trimmed−25%	+0.06 pp	23 q
SOPHSOPHiA GENETICS SA	0.08%	1,920,432	$9M	added×6.7	+0.07 pp	2 q
BRK.BBERKSHIRE HATHAWAY Class B	0.06%	15,895	$6M	trimmed−52%	0.00 pp	45 q
VRSKVerisk Analytics, Inc.	0.04%	16,069	$4M	trimmed−54%	+0.01 pp	45 q
UBERUber Technologies, Inc.	—	−3,550,000	—	exited	−1.13 pp	—
BAMBrookfield Asset Management Ltd.	—	−126,000	—	exited	−0.02 pp	—
DLTRDollar Tree Inc.	—	−4,458	—	exited	0.00 pp	—