13F filing recap · Q1 2012

What did Akre Capital Management buy in Q1 2012?

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

Stock value

$996.28M

Positions

Estimated turnover

59.8%

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

AMTAmerican Tower Corp /ma/$106.35Mreported value+1.69M shares MCOMoody’s Corporation$42.10Mreported value+1.00M shares VVisa Inc.$35.40Mreported value+300.0K shares SHLDQSears Holdings Corporation$19.88Mreported value+300.0K shares DTVDirectv$16.78Mreported value+340.0K shares LUKLeucadia National Corporation$15.77Mreported value+604.2K shares VRSKVerisk Analytics, Inc.$4.70Mreported value+100.0K shares LPSLender Processing Services, Inc.$3.64Mreported value+140.0K shares MTGMgic Investment Corp$1.98Mreported value+400.0K shares UAAUnder Armour, Inc.$1.97Mreported value+21.0K shares BAC WS ABank of America Corp$88.0Kreported value+19.0K shares

Increased positions

MAMastercard Inc$115.92Mreported value+84.0K shares+43.8%ROSTRoss Stores, Inc.$95.75Mreported value+147.4K shares+9.8%DLTRDollar Tree, Inc.$69.74Mreported value+4.5K shares+0.6%MKLMarkel Group Inc.$60.88Mreported value+318 shares

Reduced positions

ESGREnstar Group Limited$48.60Mreported value-672 shares-0.1%LAMRLamar Advertising Co/new$34.60Mreported value-214.4K shares-16.7%KMXCarmax, Inc.$27.76Mreported value-5.3K shares-0.7%BRK.BBerkshire Hathaway Inc$17.69Mreported value-875 shares

Exited positions

AMTAmerican Tower Corporation$83.24Mprior reported value-1.39M shares-100.0%BDXBecton Dickinson & Co$3.74Mprior reported value-50.0K shares-100.0%TECHBio-Techne Corp$3.41Mprior reported value-50.0K shares-100.0%