Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供参考 · 非买入清单
Akre Capital Management
quality_growth
D
Reliability improving可靠性走强
leaderboard rank榜单排名 #43WATCH观察
Book持仓规模
$5.1B
long US listed only仅美股多头
Positions持仓数
19
95% resolved已解析
Top-10 concentration前十集中度
88%
% of book占组合%
Turnover换手
LOW
8.5% per quarter每季
Median excess中位超额
-32%
buys vs SPY, since filing买入相对SPY，自披露起 · n 33
Hit rate胜率
30%
share of buys beating SPY跑赢SPY的买入占比
Core lean — the 10-second read核心倾向 — 10秒速读
Core lean: Real Estate (Equal-Weight) — added CSGP (+6.5pp of book this quarter)核心倾向：房地产（等权） — 本季度加仓 CSGP（占组合 +6.5pp）
Real Estate (Equal-Weight)房地产（等权）
+6.5pp
6.6% of book held占组合持有
· 2 names标的
· US Sectors (EW)
CSGP
AI Software & PlatformsAI 软件与平台
+2.4pp
4.9% of book held占组合持有
· 2 names标的
· AI & Technology
NOW
Non-AI Software非AI软件
+2.4pp
4.9% of book held占组合持有
· 2 names标的
· Software
NOW
AI Agents & ApplicationsAI 智能体与应用
+2.4pp
4.9% of book held占组合持有
· 2 names标的
· Artificial Intelligence
NOW
Technology (Equal-Weight)信息技术（等权）
+2.4pp
21.1% of book held占组合持有
· 4 names标的
· US Sectors (EW)
NOW
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新披露的描述性解读——主题按精选篮子聚类（Finviz 兜底），added-pp = 本季度买入占组合百分比之和。非预测。
Grade & excess history评级与超额历史
per-quarter buy cohorts, scored on public filing dates vs SPY — descriptive ranks in a curated survivor cohort按季度买入队列，以公开披露日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: improving走强 · 9 scored quarters已评分季度 · 22% positive为正 · recent-4 median近4季中位 -10% vs all-time对全期 -37%
Median excess by quarter各季度中位超额: ▁▁▃▃▂▂▃█▅ (oldest → newest, shifted by the series minimum so negatives render由旧到新，按序列最小值平移以呈现负值)
| Quarter季度 | Buys买入数 | Median excess中位超额 | Hit胜率 | Median fwd 63d中位前瞻63日 |
|---|---|---|---|---|
| 2024-03-31 | 2 | -61% | 0% | -1% |
| 2024-06-30 | 5 | -72% | 20% | +0% |
| 2024-09-30 | 2 | -37% | 0% | +4% |
| 2025-03-31 | 2 | -32% | 0% | -12% |
| 2025-06-30 | 5 | -45% | 20% | -8% |
| 2025-09-30 | 3 | -41% | 0% | -24% |
| 2025-12-31 | 3 | -32% | 33% | -19% |
| 2026-03-31 | 7 | +47% | 71% | +17% |
| 2026-06-30 | 2 | +12% | 100% | — |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新披露；季度环比变化对上季Current weights当前权重 · 2026-06-30
Financial
57.1%
▼ -0.1pp
Technology
16.4%
▲ +2.6pp
Industrials
12.2%
▲ +0.6pp
Consumer Cyclical
7.2%
▼ -2.9pp
Real Estate
6.6%
▼ -0.4pp
Unclassified
0.4%
▲ +0.1pp
Basic Materials
0.2%
▲ +0.1pp
Theme categories主题类别
US Sectors (EW) 46.4%
Financials 27.4%
Consumer Cyclical 7.2%
AI & Technology 4.9%
Rotating into (QoQ)轮入（环比）
Technology +2.6pp
Industrials +0.6pp
Basic Materials +0.1pp
Rotating out of (QoQ)轮出（环比）
Consumer Cyclical -2.9pp
Real Estate -0.4pp
Financial -0.1pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-06-30 | Financial 57% · Technology 16% · Industrials 12% |
| 2026-03-31 | Financial 57% · Technology 14% · Industrials 12% |
| 2025-12-31 | Financial 64% · Consumer Cyclical 12% · Industrials 9% |
| 2025-09-30 | Financial 63% · Consumer Cyclical 14% · Real Estate 9% |
| 2025-06-30 | Financial 64% · Consumer Cyclical 13% · Real Estate 9% |
| 2025-03-31 | Financial 59% · Consumer Cyclical 15% · Real Estate 13% |
| 2024-12-31 | Financial 61% · Real Estate 14% · Consumer Cyclical 13% |
| 2024-09-30 | Financial 58% · Real Estate 17% · Consumer Cyclical 12% |
| 2024-06-30 | Financial 59% · Real Estate 17% · Consumer Cyclical 12% |
| 2024-03-31 | Financial 60% · Real Estate 16% · Consumer Cyclical 11% |
| 2023-12-31 | Financial 60% · Real Estate 18% · Consumer Cyclical 10% |
| 2023-09-30 | Financial 64% · Real Estate 15% · Consumer Cyclical 10% |
Full book完整持仓
every resolved position as filed — click a column header to sort. Conviction is a descriptive composite, not a forecast.截至披露日的全部已解析持仓——点击列头排序。信念分为描述性综合指标，非预测。18 positions shown项持仓 · resolved已解析 18/19 (95%) · unresolved CUSIPs are excluded from this table but counted in book totals未解析CUSIP不列入本表，但计入组合总额
| #↕ | Ticker标的 ↕ | Company公司 ↕ | % book仓位% ↕ | Value金额 ↕ | Action动作 ↕ | Δ sharesΔ股数 ↕ | Add streak连加季数 ↕ | Conviction信念分 ↕ | Sector行业 ↕ | Themes主题 | Since filing自披露 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  MA |
Mastercard Incorporated | 19.9% | $1.0B | trim | -13% | — | 70 · HIGH | Financial | Payments & Fintech, Financials (Equal-Weight) | +4% |
| 2 |  MCO |
Moodys Corp | 10.2% | $524M | hold | -7% | — | 68 · MODERATE | Financial | Financials (Equal-Weight) | +2% |
| 3 |  BN |
Brookfield Corp | 10.1% | $516M | trim | -29% | — | 66 · MODERATE | Financial | — | -10% |
| 4 |  KKR |
Kkr & Co L P Del | 8.9% | $457M | trim | -26% | — | 64 · MODERATE | Financial | Financials (Equal-Weight) | -2% |
| 5 |  FICO |
Fair Isaac Corp | 8.4% | $432M | hold | -0% | — | 62 · MODERATE | Technology | Technology (Equal-Weight) | -4% |
| 6 |  ROP |
Roper Technologies Inc | 7.8% | $398M | hold | -6% | — | 60 · MODERATE | Industrials | Technology (Equal-Weight) | +3% |
| 7 |  V |
Visa Inc | 7.4% | $381M | trim | -32% | — | 58 · MODERATE | Financial | Payments & Fintech, Financials (Equal-Weight) | +6% |
| 8 | CSGP |
Costar Group Inc | 6.5% | $331M | add | +13% | 1q | 61 · MODERATE | Real Estate | Real Estate (Equal-Weight) | +2% |
| 9 |  CPRT |
Copart Inc | 4.4% | $225M | hold | -0% | — | 44 · LOW | Industrials | Industrials (Equal-Weight) | -4% |
| 10 |  ORLY |
Oreilly Automotive Inc | 3.9% | $199M | trim | -44% | — | 42 · LOW | Consumer Cyclical | Retail, Consumer Discretionary (Equal-Weight) | -2% |
| 11 |  ABNB |
Airbnb Inc | 3.3% | $169M | trim | -42% | — | 26 · LOW | Consumer Cyclical | Travel & Experiences, Consumer Discretionary (Equal-Weight) | -4% |
| 12 |  CCC |
Ccc Intelligent Solutions Hl | 3.0% | $154M | hold | -5% | — | 24 · LOW | Technology | — | +4% |
| 13 |  CRM |
Salesforce Inc | 2.5% | $128M | hold | +0% | — | 22 · LOW | Technology | AI Software & Platforms, Non-AI Software, AI Agents & Applications | +37% |
| 14 | NOW |
Servicenow Inc | 2.4% | $124M | add | +14% | 2q | 30 · LOW | Technology | AI Software & Platforms, Non-AI Software, AI Agents & Applications | +22% |
| 15 |  GSHD |
Goosehead Ins Inc | 0.4% | $22M | hold | +0% | — | 18 · LOW | Financial | — | -10% |
| 16 |  PRM |
Perimeter Solutions Inc | 0.2% | $9M | hold | +0% | — | 16 · LOW | Basic Materials | — | -3% |
| 17 |  AMT |
American Tower Corp New | 0.1% | $5M | trim | -42% | — | 14 · LOW | Real Estate | Real Estate (Equal-Weight) | +4% |
| 18 |  BRK-B |
Berkshire Hathaway Inc Del | 0.1% | $4M | trim | -21% | — | 12 · LOW | Financial | Financials (Equal-Weight) | +4% |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本披露周期，不设上限——新建/加仓与减持取自已解析持仓，清仓取自轮动数据Rotated into轮入 (2)
| CSGP add |
6.5% | +2% |
| NOW add |
2.4% | +22% |
Rotated out of轮出 (8)
| MA trim |
-13% | +4% |
| BN trim |
-29% | -10% |
| KKR trim |
-26% | -2% |
| V trim |
-32% | +6% |
| ORLY trim |
-44% | -2% |
| ABNB trim |
-42% | -4% |
| AMT trim |
-42% | +4% |
| BRK-B trim |
-21% | +4% |
Trade log交易记录
last 40 graded trades, filing-date anchored, newest first — variable hold vs SPY最近40笔已评分交易，以披露日为锚，最新在前——持有期不定，相对SPYNo graded trades available for this fund.该基金暂无已评分交易。
Caveats注意事项 —
13F = quarterly, ~45-day lag, reported long positions from managers with at least $100M in Section 13(f) securities. No shorts, no cash, no non-US positions. This desk is context — ownership is never a directional signal here.13F = 季度披露，约45天滞后，仅含美股多头且持仓≥1亿美元。不含空头、现金或非美股仓位。本台仅为背景参考——持仓数据在此永远不是方向性信号。
Grades and reliability are descriptive ranks within a curated survivor cohort — they measure what filings did after their filing dates, not a manager-selection edge. Conviction and core-lean reads are descriptive composites earning a forward record via the pre-registered ledger (L5); sector/theme classification applies the current map to history.评级与可靠性为精选幸存者队列中的描述性排名——衡量披露日之后持仓的表现，而非经理选择能力。信念分与核心倾向为描述性综合指标，通过预注册账本（L5）积累前瞻记录；行业/主题分类将当前映射应用于历史。