Insights into Akre's Q1 2024 Investment Moves and Portfolio Adjustments
Chuck Akre (Trades, Portfolio), the founder of Akre Capital Management, has a storied career in the securities business, starting at Johnston, Lemon & Co. and later establishing his own firm in 1989. Known for his value investment philosophy, Akre focuses on identifying companies with exceptional business models, capable management, and significant reinvestment opportunities. His investment strategy is deeply rooted in the concept of the "three-legged stool," aiming to grow economic value per share over extended periods. The recent 13F filing for the first quarter of 2024 reveals some intriguing shifts in his portfolio, including new buys and notable reductions.
Summary of New Buys
During the first quarter, Chuck Akre (Trades, Portfolio) made notable additions to his portfolio, including:
- Uber Technologies Inc (UBER, Financial), purchasing 1,775,000 shares, which now represent 1.13% of the portfolio, valued at approximately $136.66 million.
- CCC Intelligent Solutions Holdings Inc (CCCS, Financial), acquiring 7,000,000 shares, making up about 0.69% of the portfolio, with a total value of $83.72 million.
Key Position Increases
Akre also increased his investment in existing portfolio companies:
- CoStar Group Inc (CSGP, Financial) saw an addition of 5,957 shares, bringing the total to 7,261,626 shares. This adjustment increased the share count by 0.08%, representing a stable impact on the current portfolio, with a total value of $701.47 million.
Key Position Reduces
The first quarter also saw significant reductions in several of Akre's positions, including:
- Mastercard Inc (MA, Financial), with a reduction of 451,542 shares, leading to an 8.92% decrease in shares and a -1.62% impact on the portfolio. The stock, which traded at an average price of $457.15 during the quarter, has seen a modest return of -0.40% over the past three months and 7.70% year-to-date.
- KKR & Co Inc (KKR, Financial), reduced by 1,768,668 shares, resulting in a 10.62% decrease and a -1.23% impact on the portfolio. The stock's average trading price was $91.97 this quarter, with returns of 4.99% over the past three months and 21.50% year-to-date.
Portfolio Overview
As of the first quarter of 2024, Chuck Akre (Trades, Portfolio)'s investment portfolio comprises 20 stocks. The top holdings include 18.37% in Mastercard Inc (MA), 14.48% in Moody's Corporation (MCO, Financial), 12.38% in KKR & Co Inc (KKR), 10.13% in American Tower Corp (AMT, Financial), and 9.23% in O'Reilly Automotive Inc (ORLY, Financial). The investments are primarily concentrated across six industries: Financial Services, Real Estate, Consumer Cyclical, Technology, Healthcare, and Industrials.
This detailed overview of Chuck Akre (Trades, Portfolio)'s latest 13F filings provides valuable insights into his strategic adjustments and ongoing investment philosophy, reflecting his adeptness at navigating the complex market landscape.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
