Akre Capital
Manager: Chuck Akre
AKRE CAPITAL MANAGEMENT LLC · CIK 0001112520 · Form 13F-HR · Accession 0001112520-26-000014
Reported Equity Holdings (USD)
$6.3bn
23 positions · mainly 13F (+ Non-US where noted)
Form ADV RAUM — Akre Capital Management, LLC
$11.8bn
as of 31 Dec 2025 (ADV Item 5.F; annual updating amendment signed 04 Jun 2026) · form_adv
Shown (≥1%)
17
13F combined (20 → 23) · 6 under 1% hidden
Largest weights: Mastercard 16.2%, Constellation Software Inc. 10.5%, Moody's 8.3%. Sorted by USD value.
Reported Equity Holdings USD
6 names under 1% hidden (still included in Reported Equity Holdings). Weights vs full book — visible weights may sum to under 100%.
| # | Issuer | Ticker / listing | CCY | Value (USD) | Weight | Source | As of | Notes |
|---|---|---|---|---|---|---|---|---|
| 1 | Mastercard |
MA · NYSE | USD | $1,022.0m | 16.2% | 13F | 13F — 30 Jun 2026 | CL A |
| 2 | Constellation Software Inc. |
CSU · Canada (TSX) | USD | $663.7m | 10.5% | ETF N-CSR (SEC) | ETF N-CSR — 31 Jul 2026 (Akre Focus ETF N-CSR Schedule of Investments) | 309,829 common shares; same N-CSR also lists Constellation Software warrants (628,500 contracts, exercise $11.50, expire 31 Mar 2040) fair-valued at $0 — not added as a valued line ETF sleeve only (Akre Focus ETF N-CSR). USD fair value as filed (N-CSR Schedule of Investments fair value (USD) as filed). Not a Form 13F US listing. |
| 3 | Moody's |
MCO · NYSE | USD | $524.0m | 8.3% | 13F | 13F — 30 Jun 2026 | COM |
| 4 | Brookfield Corporation |
BN · NYSE | USD | $516.2m | 8.2% | 13F | 13F — 30 Jun 2026 | CL A LTD VT SH Non-US / foreign-related issuer already valued in the US 13F book (ADR or US-listed share class). |
| 5 | KKR & Co. |
KKR · NYSE | USD | $457.2m | 7.3% | 13F | 13F — 30 Jun 2026 | COM UNITS |
| 6 | Fair Isaac (FICO) |
FICO · NYSE | USD | $432.3m | 6.9% | 13F | 13F — 30 Jun 2026 | COM |
| 7 | Roper Technologies |
ROP · Nasdaq | USD | $398.1m | 6.3% | 13F | 13F — 30 Jun 2026 | COM |
| 8 | Topicus.com Inc. |
TOI · Canada (TSXV) | USD | $384.9m | 6.1% | ETF N-CSR (SEC) | ETF N-CSR — 31 Jul 2026 (Akre Focus ETF N-CSR Schedule of Investments) | 5,289,600 shares (N-CSR marks non-income producing) ETF sleeve only (Akre Focus ETF N-CSR). USD fair value as filed (N-CSR Schedule of Investments fair value (USD) as filed). Not a Form 13F US listing. |
| 9 | Visa |
V · NYSE | USD | $381.1m | 6.0% | 13F | 13F — 30 Jun 2026 | COM CL A |
| 10 | CoStar Group |
CSGP · Nasdaq | USD | $331.3m | 5.3% | 13F | 13F — 30 Jun 2026 | COM |
| 11 | Copart |
CPRT · Nasdaq | USD | $225.1m | 3.6% | 13F | 13F — 30 Jun 2026 | COM |
| 12 | O'Reilly Automotive |
ORLY · Nasdaq | USD | $199.1m | 3.2% | 13F | 13F — 30 Jun 2026 | COM |
| 13 | Airbnb |
ABNB · Nasdaq | USD | $169.4m | 2.7% | 13F | 13F — 30 Jun 2026 | COM CL A |
| 14 | CCC Intelligent Solutions |
CCCS · NYSE | USD | $154.1m | 2.4% | 13F | 13F — 30 Jun 2026 | COM |
| 15 | LVMH Moët Hennessy Louis Vuitton SE |
MC · France (Euronext Paris) | USD | $133.1m | 2.1% | ETF N-CSR (SEC) | ETF N-CSR — 31 Jul 2026 (Akre Focus ETF N-CSR Schedule of Investments) | 242,964 shares ETF sleeve only (Akre Focus ETF N-CSR). USD fair value as filed (N-CSR Schedule of Investments fair value (USD) as filed). Not a Form 13F US listing. |
| 16 | ServiceNow |
NOW · NYSE | USD | $123.7m | 2.0% | 13F | 13F — 30 Jun 2026 | COM |
| 17 | Salesforce |
CRM · NYSE | USD | $112.5m | 1.8% | 13F | 13F — 30 Jun 2026 | COM |
Methodology
- One book: All weights in USD. Reported Equity Holdings = Akre Capital Management LLC 13F-HR reported values (same-issuer/CUSIP/class/put-call rows aggregated) + Akre Focus ETF Non-US lines at N-CSR fair value (USD as filed). Salesforce common and Salesforce Call kept as separate lines.
- US 13F: Akre Capital Management LLC (CIK 0001112520) Form 13F-HR. Period end 30 Jun 2026, filed 14 Aug 2026. Manager: Chuck Akre (Charles T. Akre, Jr.). Schema X0202 whole USD ($5.1bn).
- Enrichment: Book from SEC 13F-HR filed by Akre Capital Management LLC (CIK 0001112520), managed by Chuck Akre (Charles T. Akre, Jr.), plus three Non-US lines from the Akre Focus ETF N-CSR Schedule of Investments (31 Jul 2026): Constellation Software (CSU.TO, $663.7m), Topicus.com (TOI.V, $384.9m), and LVMH (MC.PA, $133.1m). Firm site akrecapital.com has no holdings list; akrefund.com Complete Holdings PDFs are gated — N-CSR used as public primary. Form ADV Item 5.F RAUM (~$11.8bn YE 2025) still exceeds the combined equity book (~$6.30bn) — residual = cash, private partnerships/SMAs, and other non-13F. Brookfield and SOPHiA GENETICS stay in the 13F book only. Non-US hunt: data/_research/akre-2026-10-15.md.
- Non-US: Constellation Software (TSX:CSU) 309,829 sh = $663.7m; Topicus.com (TSXV:TOI) 5,289,600 sh = $384.9m; LVMH SE (EPA:MC) 242,964 sh = $133.1m — all USD fair values from Akre Focus ETF N-CSR 31 Jul 2026 (accession 0001133228-26-013166). ETF sleeve only; private-fund overlap unknown. Constellation warrants fair-valued at $0 — not valued. Brookfield Corp and SOPHiA GENETICS SA remain in the 13F book only.
- Filer note: Display name Akre Capital; legal 13F filer Akre Capital Management LLC; manager Chuck Akre (Charles T. Akre, Jr.). John H. Neff listed as CEO/CIO on Form ADV Schedule A. Akre Focus ETF (ticker AKRE) is advised by the same firm (Professionally Managed Portfolios series).
- Mixed as-of: US 13F as of period end 30 Jun 2026. Non-US ETF lines as of N-CSR Schedule of Investments 31 Jul 2026 (filed 7 Oct 2026).
- Reported AUM: Firm / strategy AUM from the manager's site or Form ADV where cited on this page — separate from Reported Equity Holdings.
- Shares / Discretion / Vote columns omitted. Value shown as USD market value ($m, 1 decimal, e.g. $17,700.0m). Weight to 1 decimal.
- Table shows positions with weight ≥ 1.0% only; names under 1% are hidden but still included in Reported Equity Holdings (USD) and the weight denominator.
- Raw data: EDGAR 13F · portfolio_combined.json · holdings.json