WhaleCreep

Akre Capital Management (Chuck Akre) 13F holdings, Q3 2012

Long-only investorSEC filingsCompare with another fundHoldings as of 2012-09-30, filed 2012-11-15

Akre Capital Management (Chuck Akre) disclosed 36 US equity positions worth $1.3bn in its Q3 2012 13F filing. Its largest position is AMT at 13.5% of the reported book, followed by MA and ROST. Versus Q1 2012 it opened 10 new positions, added to 16, reduced 4 and exited 4.

$1.3bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
36
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
13.5%
Largest position
The largest single position as a share of the reported equity book.
72.0%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
15
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
100
Quarters on file since Q4 2000
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q1 2012: 10 new, 16 added, 4 reduced, 4 exited

36 rows
AMT AMERICAN TOWER CORPReal Estate13.5%$173m4.91m+22%added
MA MASTERCARD INCFinancial Services12.1%$155m343,270+25%added
ROST ROSS STORES INCConsumer Cyclical9.8%$126m1.95m–new
MKL MARKEL GROUP INCFinancial Services7.2%$91.6m199,858+47%added
MCO MOODYS CORPFinancial Services6.2%$79.8m1.81m+81%added
DLTR DOLLAR TREE INCConsumer Defensive5.7%$73.0m1.51m+105%added
ORLY OREILLY AUTOMOTIVE INCConsumer Cyclical5.4%$69.3m828,559+50%added
DirecTv/dtv no ticker–4.1%$52.4m1.00m+194%added
ENSTAR GROUP LIMITED no ticker–4.0%$51.2m513,434+4.6%added
V VISA INCFinancial Services3.9%$50.0m372,430+24%added
LPL Financial/lpla no ticker–3.3%$42.8m1.50m+88%added
LEUCADIA NATL CORP no ticker–3.0%$38.7m1.70m+181%added
VRSK VERISK ANALYTICS INCIndustrials2.5%$32.2m676,500–new
BRK/B BERKSHIRE HATHAWAY INC DEL–2.2%$27.7m313,520–new
HIG HARTFORD INSURANCE GROUP INCFinancial Services2.1%$26.6m1.37m+69%added
NLYEUR ANNALY CAPITAL MANAGEMENT IN–2.0%$25.9m1.54m–new
AAPL APPLE INCTechnology1.8%$23.4m35,106+149%added
LAMAR ADVERTISING CO no ticker–1.8%$23.0m621,348−42%reduced
SHLDEUR SEARS HLDGS CORP–1.3%$16.6m300,0000.0%held
KMX CARMAX INCConsumer Cyclical1.1%$14.2m503,474–new
Hartford Financial no ticker–1.1%$14.2m745,285+0.5%held
MNRO MONRO INCConsumer Cyclical1.1%$14.1m400,000–new
FDS FACTSET RESH SYS INCFinancial Services1.0%$12.5m130,0000.0%held
BVE DIAMOND HILL INVT GROUP INC–0.9%$11.2m145,500+24%added
BRK/A BERKSHIRE HATHAWAY INC DEL–0.6%$7.8m59–new
COLFAX CORP no ticker–0.6%$7.7m209,280–new
BAC BANK OF AMER CORPFinancial Services0.6%$7.1m800,0000.0%held
Bank of America *W EXP 01/16/201 no ticker–0.2%$2.5m700,000+3584%added
White River Cap/rvr no ticker–0.2%$2.1m93,2730.0%held
Artio Global/art no ticker–0.1%$1.9m625,000–new
TJX TJX COS INC NEWConsumer Cyclical0.1%$1.9m41,520−96%reduced
PRMWUSD PRIMO WTR CORP–0.1%$1.6m1.50m+36%added
CSX CSX CORPIndustrials0.08%$1.1m51,0610.0%held
EPD ENTERPRISE PRODS PARTNERS LEnergy0.04%$548k10,232–new
NUSTAR GP HOLDINGS LLC no ticker–0.03%$349k10,970−20%reduced
TROW PRICE T ROWE GROUP INCFinancial Services0.02%$216k3,405−90%reduced

Exited since Q1 2012

4 rows
LENDER PROCESSING SVCS INC no ticker0.4%$3.6m
MTG MGIC INVT CORP WIS0.2%$2.0m
ENTERTAINMENT PPTYS TR no ticker0.03%$244k
EXMOC EXXON MOBIL CORP0.03%$219k

Sector mix

  • Financial Services33.1%
  • Unclassified25.6%
  • Consumer Cyclical17.6%
  • Real Estate13.5%
  • Consumer Defensive5.7%
  • Industrials2.6%
  • Technology1.8%
  • Energy0.04%

Book over time

Every quarter on file (100)
QuarterPositionsEquity book
Q2 202619$5.1bn
Q1 202619$6.1bn
Q4 202518$9.1bn
Q3 202519$10.0bn
Q2 202519$10.2bn
Q1 202518$10.4bn
Q4 202418$11.6bn
Q3 202418$12.0bn
Q2 202419$11.4bn
Q1 202421$12.1bn
Q4 202318$11.9bn
Q3 202317$10.9bn
Q2 202318$12.0bn
Q1 202318$11.4bn
Q4 202219$11.1bn
Q3 202220$11.3bn
Q2 202221$12.5bn
Q1 202221$14.4bn
Q4 202122$17.2bn
Q3 202123$16.2bn
Q2 202125$16.2bn
Q1 202124$14.7bn
Q4 202028$14.8bn
Q3 202028$14.2bn
Q2 202028$13.3bn
Q1 202028$10.3bn
Q4 201925$10.9bn
Q3 201925$10.1bn
Q2 201923$9.9bn
Q1 201924$9.5bn
Q4 201824$7.9bn
Q3 201823$8.6bn
Q2 201822$7.9bn
Q1 201823$7.6bn
Q4 201723$7.2bn
Q3 201725$6.8bn
Q2 201727$6.2bn
Q1 201730$6.1bn
Q4 201633$5.5bn
Q3 201632$5.2bn
Q2 201632$5.0bn
Q1 201633$4.7bn
Q4 201533$4.5bn
Q3 201534$4.3bn
Q2 201536$4.2bn
Q1 201534$3.9bn
Q4 201435$3.8bn
Q3 201438$3.5bn
Q2 201438$3.4bn
Q1 201441$3.1bn
Q4 201338$2.7bn
Q3 201334$2.3bn
Q2 201336$2.2bn
Q1 201337$1.8bn
Q4 201235$1.4bn
Q3 201236$1.3bn
Q1 201230$817m
Q4 201124$505m
Q2 201124$444m
Q1 201124$417m
Q4 201026$390m
Q3 201028$319m
Q2 201030$287m
Q1 201026$276m
Q4 200918$240m
Q3 200914$212m
Q2 200925$717m
Q1 200921$574m
Q4 200823$688m
Q3 200824$893m
Q2 200830$1.0bn
Q1 200832$1.2bn
Q4 200733$1.2bn
Q3 200754$3.0bn
Q2 200755$2.0bn
Q1 200753$1.8bn
Q4 200652$1.7bn
Q3 200647$1.5bn
Q2 200646$1.4bn
Q1 200653$1.4bn
Q3 200564$1.3bn
Q2 200565$1.4bn
Q1 200573$1.1bn
Q4 200465$1.0bn
Q3 200471$740m
Q2 200460$591m
Q1 200458$532m
Q4 200352$423m
Q3 200352$361m
Q2 200332$207m
Q1 200337$139m
Q4 200230$97.5m
Q3 200242$107m
Q2 200239$108m
Q1 200242$116m
Q4 200138$116m
Q3 200130$79.1m
Q2 200134$121m
Q1 200132$94.4m
Q4 200037$99.3m

Where Akre Capital Management (Chuck Akre) was early

43 rows
LNWO Scientific GamesQ1 20021 of 1221.0%2.0%7Exited by Q4 2003+36%
DHI DR Horton/dhiQ1 20022 of 2010.7%3.3%22Exited by Q4 2007+1.9%
WFC WELLS FARGO & CO NEWQ2 20023 of 2122.8%2.8%25Exited by Q1 2009+18%
MCRI Monarch Casinos/mcriQ3 20021 of 541.2%3.8%18Exited by Q4 2007+343%
KMX CARMAX INCQ4 20021 of 1680.9%6.9%67Exited by Q1 2026+332%
COKE Coca Cola Bottling/cokeQ3 20031 of 750.8%1.7%9Exited by Q1 2006−2.3%
PREJF PartnersRe Ltd/preQ3 20031 of 412.8%2.8%9Exited by Q1 2006+26%
TOL TOLL BROTHERS INCQ3 20032 of 1741.7%2.5%19Exited by Q3 2008+23%
UNM Unum CorpQ3 20035 of 1173.5%3.5%2Exited by Q1 2004+6.8%
SSD SIMPSON MANUFACTURING CO INCQ1 20041 of 1091.1%3.0%21Exited by Q3 2009−12%
UPBD Rent-A-CenterQ1 20041 of 1112.5%2.5%2Exited by Q3 2004−9.2%
BYD BOYD GAMING CORPQ1 20061 of 1411.2%1.4%8Exited by Q1 2008−32%
POOL POOL CORPORATIONQ4 20062 of 1550.4%4.5%11Exited by Q3 2009−58%
TROW T Rowe Price/trowQ1 20094 of 1202.6%8.9%13Exited by Q4 2012+119%
FDS FACTSET RESH SYS INCQ4 20093 of 1304.8%6.0%16Exited by Q2 2014+64%
MSCI MSCI INCQ4 20095 of 1762.0%2.0%5Exited by Q1 2011+23%
DLTR DOLLAR TREE INCQ1 20103 of 1863.2%12.1%55Exited by Q2 2024+575%
TJX TJX Cos/tjxQ1 20104 of 1853.6%4.7%9Exited by Q4 2012+111%
HIG HARTFORD FINL SVCS GROUP INCQ1 20105 of 1248.0%8.0%14Exited by Q1 2015+47%
V VISA INCQ1 201018 of 2840.8%11.0%59Held at last filing, Q2 2026+1408%
MA MASTERCARD INCORPORATEDQ1 201019 of 2630.8%21.3%64Held at last filing, Q2 2026+1922%
ORLY OREILLY AUTOMOTIVE INCQ1 20111 of 1627.0%11.9%60Held at last filing, Q2 2026+2304%
BVE DIAMOND HILL INVESTMENT GROUQ2 20111 of 390.6%1.2%31Exited by Q3 2019+74%
AAPL APPLE INCQ4 201126 of 2750.3%2.2%11Exited by Q4 2014+74%
MCO MOODYS CORPQ1 201210 of 1765.2%15.7%57Held at last filing, Q2 2026+976%
MNRO MONRO MUFFLER BRAKE INCQ3 20121 of 891.1%2.5%21Exited by Q4 2017+59%
VRSK VERISK ANALYTICS INCQ3 20121 of 1372.5%4.4%53Exited by Q4 2025+428%
ROST ROSS STORES INCQ3 20122 of 1749.8%9.8%7Exited by Q2 2014+11%
BRK/B BERKSHIRE HATHAWAY INC DELQ3 20127 of 1802.2%2.2%56Held at last filing, Q2 2026+467%
LPLA LPL FINL HLDGS INCQ2 20131 of 1802.9%3.0%10Exited by Q4 2015+5.3%
LYV LIVE NATION ENTERTAINMENT INQ2 20136 of 2162.3%4.6%15Exited by Q2 2021+446%
AKX ANSYS INCQ2 20137 of 1610.2%1.5%23Exited by Q2 2022+335%
EQIX EQUINIX INCQ3 201319 of 1871.0%1.5%3Exited by Q2 2014+0.7%
DHR DANAHER CORPORATIONQ4 20139 of 2350.8%4.3%49Exited by Q1 2026+341%
ROP ROPER TECHNOLOGIES INCQ1 20143 of 1410.3%8.2%50Held at last filing, Q2 2026+153%
SBAC SBA COMMUNICATIONS CORP NEWQ1 201410 of 1512.8%6.5%35Exited by Q3 2024+116%
ALRM ALARM COM HLDGS INCQ2 20154 of 1240.1%1.4%31Exited by Q1 2023+222%
LKQ LKQ CORPQ2 20157 of 1510.5%2.4%12Exited by Q2 2018+25%
KKR KKR & CO L P DELQ2 20182 of 2113.1%13.2%33Held at last filing, Q2 2026+269%
2JE FOCUS FINL PARTNERS INCQ3 20184 of 831.5%1.5%3Exited by Q2 2019−25%
CSGP COSTAR GROUP INCQ4 201911 of 1891.4%7.8%27Held at last filing, Q2 2026−53%
BAM BROOKFIELD ASSET MANAGMT LTDQ4 20223 of 971.0%1.2%6Exited by Q2 2024+47%
BN BROOKFIELD CORPQ4 20224 of 1154.9%13.5%15Held at last filing, Q2 2026+103%

Concentration and tenure

16.7%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
81.3%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
6
Median completed holding, quarters