13F filing recap · Q3 2008

What did Akre Capital Management buy in Q3 2008?

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

Stock value

$1.21B

Positions

Estimated turnover

18.6%

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

MERMerrill Lynch & Co., Inc.$5.73Mreported value+226.5K shares

Increased positions

ORLYO Reilly Automotive Inc$87.94Mreported value+585.7K shares+21.7%PNKPinnacle Entertainment, Inc.$15.75Mreported value+261.0K shares+14.3%BRK.BBerkshire Hathaway Inc$11.41Mreported value+143 shares+5.8%IRMIron Mountain Inc$10.08Mreported value+47.9K shares

Reduced positions

AMTAmerican Tower Corporation$190.71Mreported value-1.64M shares-23.6%PENNPenn Entertainment, Inc.$184.88Mreported value-146.1K shares-2.1%MKLMarkel Group Inc.$141.63Mreported value-11.8K shares-2.8%NDN99 Cents Only Stores$86.32Mreported value-1.57M shares

Exited positions

CAOCsk Auto Corp$48.52Mprior reported value-4.63M shares-100.0%MWEMarkwest Energy Partners L.p.$27.02Mprior reported value-758.0K shares-100.0%PVACPenn Virginia Corporation$15.97Mprior reported value-211.8K shares-100.0%TOLToll Brothers, Inc.$11.24Mprior reported value-600.0K shares