13F filing recap · Q4 2004

What did Akre Capital Management buy in Q4 2004?

Reported stock-position changes between this filing and the previous one.

Stock value

$1.04B

Positions

Estimated turnover

20.7%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

MRHMontpelier Re Holdings Ltd$11.54Mreported value+300.0K shares AGYArgosy Gaming Company$6.29Mreported value+134.6K shares ISLEIsle of Capri Casinos Inc$5.79Mreported value+225.6K shares BROBrown & Brown, Inc.$1.09Mreported value+25.0K shares DALDelta Air Lines, Inc.$621.0Kreported value+83.0K shares

Increased positions

PENNPenn Entertainment, Inc.$141.31Mreported value+163.6K shares+7.5%MKLMarkel Group Inc.$124.04Mreported value+35.1K shares+11.5%AMTAmerican Tower Corporation$107.02Mreported value+195.8K shares+3.5%KMXCarmax, Inc.$58.81Mreported value+17.0K shares

Reduced positions

GISXGlobal Imaging Systems$21.44Mreported value-7.3K shares-1.3%ISCBInternational Speedway Corporation$12.24Mreported value-1.5K shares-0.7%WFCWells Fargo & Company/mn$3.58Mreported value-910 shares-1.6%BACBank of New York Mellon Corp$1.13Mreported value-20 shares

Exited positions

DNUTKrispy Kreme, Inc.$5.06Mprior reported value-400.0K shares-100.0%AMCAmc Entertainment Holdings, Inc.$4.29Mprior reported value-224.0K shares-100.0%BHRBBurke & Herbert Financial Services Corp.$4.16Mprior reported value-2.0K shares-100.0%HOVHovnanian Enterprises Inc$3.61Mprior reported value