Chuck Akre's Trades and Holdings in Q1 2026

Breaking down the stocks Chuck Akre (Akre) bought, sold, and held in Q1 2026, including their holdings at the end of the quarter. All data sourced from Akre's 13F filed on May 14, 2026.

Who are Chuck Akre and Akre Capital Management?

Akre Capital Management is an investment firm founded in 1989 by Charles "Chuck" Akre, known for his "three-legged stool" approach to identifying exceptional investments. The firm focuses on a concentrated portfolio of extraordinary businesses characterized by superior returns on capital, talented and ethical management teams, and the ability to reinvest free cash flow at high rates of return. This disciplined strategy has enabled Akre to deliver market-beating returns over multiple decades through long-term ownership of compounding machines rather than frequent trading.

Akrecapital.com
Wikipedia on Chuck Akre
Q1 '26 13F filed with SEC

Holdings in Q1 2026

Current Investment Strategy

Akre Capital Management, guided by its hallmark "three-legged stool" philosophy of owning concentrated positions in high-return, well-managed "compounding machines" with superior free cash flow reinvestment, entered Q1 2026 with a 19-stock, $6.1 billion portfolio anchored by financial and software giants including Mastercard, Visa, and Moody's. The firm deepened its conviction in AI-leveraged software platforms by initiating new stakes in Salesforce and ServiceNow—businesses it views as major beneficiaries of large-language model efficiencies—while exiting Danaher, CarMax, and KKR to sharpen its focus on durable, technology-driven compounders.

New Investments

Salesforce CRM

Chuck Akre bought $133.99B of Salesforce in Q1 2026. Salesforce delivered a robust quarter with $3.81 EPS beating estimates by 24.94%, while net income reached $1.89B, up 22.45% from the prior quarter. The strong earnings performance comes despite the broader 42.35% decline over the past 52 weeks, though recent weeks show signs of stabilization with a 7.35% gain in May and market cap expanding 11.34% week-over-week. With the stock trading at a P/E of 21.96 and materially below analyst targets of $221 to $430, improving fundamentals and renewed investor confidence suggest potential for continued recovery.

• $3.81 EPS exceeded expectations by 24.94%, while $10.24B revenue surpassed guidance of $10.14B.
• Net income grew 22.45% sequentially to $1.89B, demonstrating sustained margin expansion and operational efficiency.
• Stock declined 42.35% over 52 weeks but has rallied 7.35% recently; currently trades 40-45% below analyst price targets of $221-$430.

ServiceNow NOW

Chuck Akre bought $114.6B of ServiceNow in Q1 2026. ServiceNow has experienced extreme volatility over the past 12 months, plummeting 57.70% amid investor concerns that artificial intelligence could cannibalize demand, but has recovered sharply by 55% in recent months as strong Q1 2026 results demonstrated resilience with revenue beating estimates and free cash flow margins expanding substantially. The underlying subscription business remains solid with annual recurring revenue growing 21% year-over-year, though analyst guidance pointing to 18.2% revenue growth signals expected deceleration from the company's historical performance. Recent momentum reflects renewed investor confidence in the company's ability to monetize AI-driven workflow automation, though margin compression and normalization of growth rates remain longer-term headwinds.

• Q1 2026 revenue beat estimates with free cash flow margin surging to 57% from 17.4% in Q4 2025.
• Stock recovered 55% over the past three months after declining 57.70% over the trailing 12-month period.
• Annual recurring revenue grew 21% year-over-year with subscription revenue guidance supporting continued momentum despite deceleration expectations.

Perimeter Solutions PRM

Chuck Akre bought $6.11B of Perimeter Solutions in Q1 2026. Perimeter Solutions' stock has delivered exceptional returns with year-to-date appreciation of 23.4% and trailing twelve-month gains exceeding 100%, significantly outpacing broader market indices, though positive Q1 2026 earnings momentum with EPS beating consensus by 100% ($0.06 vs $0.02) masks deepening profitability challenges. Despite Q1 2026 revenue of $125.07M exceeding expectations by 3%, the company posted a quarterly net loss of $32.16M compared to $56.69M in net income in Q4 2025, reflecting a severely negative trailing net margin of -26.93%. Analyst sentiment remains constructive with consensus 'Strong Buy' ratings, though price targets averaging $25.00 suggest 14-26% downside from current levels, indicating market skepticism about the company's ability to convert revenue growth into sustainable profitability.

• Stock up 23.4% year-to-date and 105-187% over the trailing twelve months, substantially outpacing broader market indices.
• Q1 2026 revenue beat expectations by 3% ($125.07M vs $121.80M) with EPS doubling consensus at $0.06, though net income declined 156.7% quarter-over-quarter to -$32.16M.
• Trailing net margin of -26.93% despite $78.04M in trailing twelve-month net income; analyst price targets of $25.00 imply 14-26% downside from current $33.94 level.

Added, Trimmed, and Exited

Added

Akre added to three existing positions: CCC Intelligent Solutions (CCCS) saw the largest increase with over 6.7 million new shares, followed by a modest add to CoStar (CSGP) (+730K shares) and a small top-up in Roper Technologies (ROP) (+152K shares).
What it means: The aggressive addition to CCC Intelligent Solutions (CCCS) stands out — paired with entirely new positions in Salesforce (CRM) and ServiceNow (NOW), it signals a deliberate pivot toward software platforms with sticky, recurring revenue streams. Akre's willingness to meaningfully build in CCCS alongside these new tech names suggests growing conviction in AI-adjacent workflow and data infrastructure businesses as long-term compounders, consistent with the firm's "three-legged stool" philosophy.

Trimmed

Akre trimmed eight existing holdings: Brookfield (BN) was cut most aggressively (nearly 9.8 million shares removed), followed by meaningful reductions in O'Reilly Automotive (ORLY) (-2.8M shares), Airbnb (ABNB) (-1.4M shares), KKR (-1.4M shares), Visa (V) (-1M shares), Mastercard (MA) (-724K shares), Moody's (MCO) (-489K shares), and American Tower (AMT) (-204K shares, representing roughly an 80% reduction).
What it means: The breadth and scale of these trims — cutting across financial infrastructure, real assets, and consumer cyclicals — strongly suggests Akre was raising capital to fund the massive new software positions in Salesforce (CRM) and ServiceNow (NOW). The near-exit of American Tower (AMT) is particularly telling, as real estate and capital-intensive infrastructure appear to be falling out of favor in the portfolio. The simultaneous paring of both Visa (V) and Mastercard (MA) — long-time core holdings for many quality-focused managers — may reflect a view that payments networks face greater competitive and regulatory headwinds, or simply that the software names offer comparatively better long-term reinvestment opportunities at current valuations.

Exited

Akre fully liquidated three positions: Danaher (DHR), CarMax (KMX), and KKR.
What it means: These three exits span very different industries — life sciences instruments, used auto retail, and alternative asset management — making it unlikely they share a single macro thesis. The exit from CarMax (KMX) may reflect ongoing pressure from a still-challenging used car market and affordability headwinds for consumers. Exiting Danaher (DHR), once a widely-admired serial acquirer and compounder, could signal concern about a slower post-pandemic recovery in its life sciences and diagnostics segments. Closing out KKR alongside trimming it suggests a decisive shift away from financials and asset managers, possibly as Akre reallocates toward businesses where revenue recurs through software subscriptions rather than cyclical deal flow.

Disclaimer: All posts are for informational purposes only. They are NOT a recommendation to buy or sell the securities discussed. Please do your own research and due diligence before investing your money.