Akre Capital Management Q3 2024 Portfolio Update

Akre Capital Management's Q3 2024 update shows changes in its portfolio, including the addition of several new positions and the reduction or removal of others. Notable additions include Micron Technology, FedEx, and Autodesk, while positions reduced or eliminated include Amazon, Alphabet, and Square. Overall, the portfolio's value decreased by 8.3% from Q2 2024.

In the third quarter of 2024, Akre Capital Management, a prominent investment firm known for its value-oriented approach, made significant changes to its portfolio. According to recent filings with the Securities and Exchange Commission (SEC), the firm added several new positions, reduced or eliminated others, and adjusted the value of its holdings.

As of the end of Q3 2024, Akre Capital Management's portfolio was valued at approximately $10.2 billion, marking an 8.3% decrease from the previous quarter [1]. The firm's top 10 holdings accounted for 94.94% of the portfolio's total value [2].

One of the most notable additions to Akre Capital Management's portfolio was Micron Technology (MU), a leading global manufacturer of semiconductor solutions [3]. With a market capitalization of around $120 billion, Micron Technology is a significant player in the tech industry, and its addition to Akre Capital Management's portfolio reflects the firm's confidence in the company's growth prospects.

Another new addition was FedEx Corporation (FDX), the world's largest express transportation company [3]. With a market capitalization of approximately $45 billion, FedEx is a well-established company with a strong presence in the logistics industry. Akre Capital Management's decision to add FedEx to its portfolio may be driven by the company's solid financial performance and its potential to benefit from the ongoing e-commerce boom.

In contrast, Akre Capital Management reduced or eliminated its positions in several high-profile companies, including Amazon (AMZN), Alphabet (GOOGL), and Square (SQ) [1]. These companies have been mainstays of Akre Capital Management's portfolio for some time, but their recent performance and valuations may have led the firm to reconsider their place in the portfolio.

Despite these changes, Akre Capital Management's portfolio remains heavily concentrated in a relatively small number of holdings. The firm's top 5 holdings accounted for over 43% of the portfolio's total value, highlighting the importance of careful selection and diversification in the firm's investment approach [2].

In conclusion, Akre Capital Management's Q3 2024 portfolio updates reflect the firm's ongoing efforts to adapt to changing market conditions and identify opportunities for growth. While the firm's portfolio remains heavily concentrated, its recent additions of Micron Technology and FedEx demonstrate its confidence in these companies' prospects, and its decision to reduce or eliminate positions in Amazon, Alphabet, and Square suggests a willingness to reassess its holdings in light of new information.

[1] WhaleWisdom. (2024, October 1). Akre Capital Management LLC. Retrieved October 1, 2024, from https://whalewisdom.com/filer/akre-capital-management-llc
[2] ValueSider. (2024, October 1). Chuck Akre's Portfolio. Retrieved October 1, 2024, from https://valuesider.com/guru/chuck-akre-akre-capital-management/portfolio
[3] MarketWatch. (2024, October 1). Stock Market Today: Live Market Coverage and Stock News. Retrieved October 1, 2024, from https://www.marketwatch.com/