We break down the stocks Chuck Akre (Akre) bought, sold, and held in Q3 2024, including their holdings at the end of the quarter. All data sourced from Akre's 13F filed on November 13, 2024.
Who are Chuck Akre and Akre?
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
Portfolio Changes in Q3 2024
New positions
Akre did not initiate any new positions during Q3 2024.
Bought
Akre significantly increased several existing holdings, with the largest additions being CCC Intelligent Solutions (CCCS) with an increase of 2.87 million shares and Airbnb (ABNB) with an increase of 1.71 million shares. The firm also added to positions in Brookfield (BN), Sophia Genetics (SOPH), and CoStar (CSGP).
Sold
Akre made substantial reductions across multiple holdings, completely liquidating its 500,000 share position in SBA Communications (SBAC) worth $98.2 million. The firm also significantly trimmed positions in DigitalBridge (DBRG) by 2.33 million shares and KKR (KKR) by 2.30 million shares. Additional notable reductions included Moody's (MCO), CarMax (KMX), Mastercard (MA), American Tower (AMT), Roper Technologies (ROP), and O'Reilly Automotive (ORLY).
Holdings at the end of Q3 2024
| Ticker | Company | Weight | Change | Value |
|---|---|---|---|---|
| MA | Mastercard | 16.1% | Trimmed (-3%) | $1.94B |
| MCO | Moody's | 13.3% | Trimmed (-20%) | $1.6B |
| KKR | KKR | 12.4% | Trimmed (-17%) | $1.49B |
| AMT | American Tower | 11.7% | Trimmed (-1%) | $1.41B |
| ORLY | O'Reilly Automotive | 8.8% | Trimmed (-4%) | $1.06B |
| BN | Brookfield | 8.4% | Added (+3%) | $1.01B |
| V | Visa | 7.5% | $899.56M | |
| ROP | Roper Technologies | 6.9% | Trimmed (-3%) | $834.34M |
| CSGP | CoStar | 5.6% | Added (+2%) | $673.99M |
| DHR | Danaher | 4.1% | $493.6M | |
| ABNB | Airbnb | 2.8% | Added (+183%) | $335.97M |
| CCCS | CCC Intelligent Solutions | 1.0% | Added (+37%) | $118.03M |
| KMX | CarMax | 0.8% | Trimmed (-40%) | $100.37M |
| GSHD | Goosehead | 0.3% | $32.69M | |
| DBRG | DigitalBridge | 0.2% | Trimmed (-64%) | $18.58M |
| SOPH | Sophia Genetics | 0.1% | Added (+17%) | $8.17M |
| BRK-B | Berkshire Hathaway | 0.1% | Trimmed (-4%) | $7.03M |
| VRSK | Verisk | 0.0% | Trimmed (-23%) | $3.32M |
| SBAC | SBA Communications | 0.0% | Exited | $0 |
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