Chuck Akre Buys Jefferies, Dollar Tree; Sells Berkshire, Mastercard

Chuck Akre Buys Jefferies, Dollar Tree; Sells Berkshire, Mastercard
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Akre Capital Management, the mutual fund founded and managed by Chuck Akre, recently submitted its 13F with the Securities and Exchange Commission (SEC) showing that the market value of its assets under management increased from more than $1.279 billion to approximately $1.418 billion during the fourth quarter of 2012.

Chuck Akre Buys Jefferies, Dollar Tree; Sells Berkshire, Mastercard

During the quarter, Akre Capital Management acquired two new stocks; Jefferies Group, Inc. (NYSE:JEF) and TransDigm Group Incorporated (NYSE:TDG). The mutual fund purchased 246,914 shares of Jefferies at $18.57 per share and 10,000 shares of TransDigm at $136.40 per share. The market value of its holdings in the two companies is about $4.58 million and $1.36 million, respectively.

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Akre Capital Management boosted its position across 12 stocks in its portfolio including Dollar Tree, Inc. (NASDAQ:DLTR) by 753,692 shares, Colfax Corp (NYSE:CFX) by more than 1 million shares, and NuStar GP Holdings, LLC (NYSE:NSH) by 50,000 shares. The mutual fund also increased its stake in Artio Global Investors Inc. (NYSE:ART) by 175,000 shares and Annaly Capital Management, Inc. (NYSE:NLY) by nearly 1 million shares.

Annaly is the largest real estate investment trust (REIT) listed in New York Stock Exchange. The stock accounts for 2.56 percent in Akre Capital Management’s portfolio. Annaly generates profit from its investment securities and dividends from its subsidiaries. The company’s revenue per share declined at an annual rate of 22.3% and EBITDA at 16.5% over the past five years. During the fourth quarter, Annaly reported a GAAP net income of $700.5 million or $0.70 per share.

During the period, Akre Capital reduced its stake in Enstar Group Ltd (NYSE:ESGR) by 1.58% or 8,109 shares, at $11.98 per shares. The mutual fund also sold 46,305 shares of American Tower Corp (NYSE:AMT), bringing its total stake in the company to 1,698,769 shares with an estimated market value of over $131 million.

Akre Capital also dumped 10,813 shares of Ross Stores, Inc. (NASDAQ:ROST), 3,695 shares of O’Reilly Automotive Inc (NASDAQ:ORLY), 1,492 shares of MasterCard Inc (NYSE:MA), and 5,284 shares of Berkshire Hathaway Inc. (NYSE:BRK.B).

The mutual fund sold out its entire position in The TJX Companies, Inc. (NYSE:TJX), T. Rowe Price Group, Inc. (NASDAQ:TROW), and CarMax, Inc (NYSE:KMX).

The top five holdings in its portfolio include MasterCard Inc (NYSE:MA), which accounts for 11.84 percent, American Tower Corp (NYSE:AMT),  with 9.26 percent, Moody’s Corporation (NYSE:MCO), 7.87 percent, Ross Stores, Inc. (NASDAQ:ROST) 7.39 percent, and Markel Corporation (NYSE:MKL) with 7.15 percent.

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