13F filing recap · Q4 2008

What did Akre Capital Management buy in Q4 2008?

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

Stock value

$905.86M

Positions

Estimated turnover

7.0%

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

NLYAnnaly Capital Management, Inc.$202.0Kreported value+12.7K shares

Increased positions

LAMRLamar Advertising Co/new$34.60Mreported value+271.9K shares+10.9%DDMXDynamex Inc$10.87Mreported value+138.2K shares+23.1%EPREpr Properties$210.0Kreported value+1.4K shares+23.7%

Reduced positions

AMTAmerican Tower Corporation$147.22Mreported value-280.8K shares-5.3%PENNPenn Entertainment, Inc.$131.37Mreported value-813.5K shares-11.7%MKLMarkel Group Inc.$115.98Mreported value-15.0K shares-3.7%ORLYO Reilly Automotive Inc$97.73Mreported value-106.0K shares

Exited positions

MERMerrill Lynch & Co., Inc.$5.73Mprior reported value-226.5K shares-100.0%