Sterling, Virginia – Akre Capital Management, based in Sterling, Virginia, recently disclosed changes to its investment portfolio through the filing of the 13F Form. This quarter saw a decrease in the overall value of the portfolio by approximately 6%, from about $12.09 billion to around $11.37 billion, with a reduction in the number of positions from 20 to 19. The top five holdings, which include MasterCard, Moody’s, KKR, American Tower, and O’Reilly Automotive, make up roughly 64% of the total portfolio value.
The firm’s assets under management are spread across various funds, managed accounts, and the Akre Focus Mutual Fund (AKREX and AKRIX). Since its inception in 2009 through the first quarter of 2024, the fund has achieved an annualized return of 14.80%, compared to 14.16% for the S&P 500 Index. However, for the first half of 2024, the fund yielded a return of 6.01%, significantly less than the 15.29% return of the S&P 500 Index.
Akre Capital Management is known for its focus on “compounding machines” – businesses with the potential for sustained growth over time. This quarter saw the addition of new stakes in various companies, including Airbnb, while stakes in Uber Technologies, Brookfield Asset Management, Dollar Tree, and others were trimmed or fully sold off. The firm also increased stakes in companies like Brookfield Corp, CoStar Group, and CCC Intelligent Solutions.
Furthermore, significant decreases in stakes were observed in holdings such as Mastercard, Moody’s Corporation, KKR & Co., American Tower, and O’Reilly Automotive. Akre Capital Management continues to make strategic adjustments to its portfolio to align with the firm’s investment philosophy and capitalize on opportunities in the market.
These changes reflect Akre Capital Management’s commitment to prudent investment decisions and long-term value creation for its clients. As the firm navigates the dynamic landscape of the financial markets, investors will be closely watching how these strategic moves play out in the coming quarters.
