13F filing recap · Q4 2013

What did Akre Capital Management buy in Q4 2013?

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

Stock value

$2.70B

Positions

Estimated turnover

14.2%

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

DHRDanaher Corporation$21.62Mreported value+280.0K shares QRTEALiberty Ventures Series A$5.52Mreported value+45.0K shares KMXCarmax, Inc.$4.70Mreported value+100.0K shares LAMRLamar Advertising Co/new$3.51Mreported value+67.1K shares AIEURArlington Asset Investment Corp$264.0Kreported value+10.0K shares

Increased positions

CFXEnovis Corp$269.04Mreported value+311.1K shares+8.0%AMTAmerican Tower Corp /ma/$265.51Mreported value+497.6K shares+17.6%MKLMarkel Group Inc.$220.95Mreported value+31.8K shares+9.1%DLTRDollar Tree, Inc.$164.93Mreported value+499.4K shares

Reduced positions

MAMastercard Inc$331.23Mreported value-120 shares-0.0%MCOMoody’s Corporation$273.15Mreported value-570 shares-0.0%ORLYO Reilly Automotive Inc$105.71Mreported value-235 shares-0.0%DTVDirectv$34.53Mreported value-1.20M shares

Exited positions

NSUSDNustar Energy LP$40.85Mprior reported value-1.02M shares-100.0%