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Chuck Akre Buys Berkshire Hathaway Inc., MSCI Inc., Becton Dickinson, W.R. Berkley, Dollar Tree

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Value investor Chuck Akre reported his second quarter portfolio. He seems to be in a buying mode. These are some buys and sells in his second quarter portfolio.

Like many value investors, Chuck Akre is now paying more attention to macro factors. Why? He wrote in his most recent shareholder letter: “The experience of 2008-2009 market collapse and subsequent “great recession” continue to have such an impact on us, as well as on clients and partners, that it seems to us imperative that we better incorporate our view of the world into our investment process. We are striving to “up” the level of macro thinking with the hope that we will reduce the level of anxiety experienced this last go around.”

Mr. Akre titled his recent shareholder as “Less Fun”. He continue to write: “We do positively conclude therefore that the “best” safe place for the preservation and future enhancement of our accumulated capital is in operating businesses which have ‘pricing power.’ So we continue down that very path which we have been on for several decades, searching for the outstanding businesses that demonstrate high returns on capital, managed by folks with equal parts of skill and integrity, where the ‘reinvestment’ thinking and execution are way above average. It turns out that in 1975, and again in

2009, that those businesses which have these attributes continued to build real economic value throughout the market collapse, and recovered much of their “lost” value in a reasonable time frame. We continue to purchase such businesses while being disciplined about price. We’re also mindful that in the midst of a massive debt crisis, having some cash on hand for a rainy day really isn’t awful. If we’ve explained it properly, our hope is that this defensive approach will appeal to you, although it most certainly will cause our results to vary from the indices.”

This is a well written letter. We recommend you to read the complete letter.

According to the most recent filings of his investment company, Akre Capital Management, LLC, Chuck Akre owns 39 stocks with a total value of $351 million. These are the details of the buys and sells.

For the details of Chuck Akre's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Chuck+Akre

This is the sector weightings of his portfolio:

Consumer Services 42.3%
Financials 41.9%
Technology 13.6%
Health Care 1%
Oil & Gas 0.9%
Industrials 0.3%


These are the top 5 holdings of Chuck Akre

  1. American Tower Corp. (AMT) - 1,069,609 shares, 13.57% of the total portfolio. Shares reduced by 1.42%
  2. Markel Corp. (MKL) - 115,206 shares, 11.17% of the total portfolio. Shares added by 7.31%
  3. Lamar Advertising Company (LAMR) - 1,138,320 shares, 7.96% of the total portfolio. Shares added by 28.56%
  4. Enstar Group Ltd. (ESGR) - 396,470 shares, 7.51% of the total portfolio. Shares added by 20.45%
  5. DOLLAR TREE, INC. (DLTR) - 611,097 shares, 7.25% of the total portfolio. Shares added by 171.6%


Added: Dollar Tree, Inc. (DLTR)

Chuck Akre added to his holdings in Dollar Tree, Inc. by 171.6%. His purchase prices were between $39.1533 and $62.69, with an estimated average price of $41.18. The impact to his portfolio due to this purchase was 4.58%. His holdings were 611,097 shares as of 06/30/2010.

Dollar Tree Stores, Inc is an operator of discount variety stores offering merchandise at a fixed price point of $1. Dollar Tree, Inc. has a market cap of $5.58 billion; its shares were traded at around $43.86 with a P/E ratio of 17.2 and P/S ratio of 1. Dollar Tree, Inc. had an annual average earning growth of 4.2% over the past 10 years. GuruFocus rated Dollar Tree, Inc. the business predictability rank of 3.5-star.

Added: The Hartford Financial Services Group In (HIG)

Chuck Akre added to his holdings in The Hartford Financial Services Group In by 259.02%. His purchase prices were between $22.16 and $29.64, with an estimated average price of $26.15. The impact to his portfolio due to this purchase was 3.61%. His holdings were 758,045 shares as of 06/30/2010.

Hartford Financial Services is one of the nation's largest investment and insurance companies, offers a complete line of insurance and financial service products to customers all over the world. The Hartford Financial Services Group In has a market cap of $9.13 billion; its shares were traded at around $20.36 with a P/E ratio of 5 and P/S ratio of 0.4. The dividend yield of The Hartford Financial Services Group In stocks is 1%.

Added: Ross Stores Inc. (ROST)

Chuck Akre added to his holdings in Ross Stores Inc. by 94.8%. His purchase prices were between $51.5 and $58.51, with an estimated average price of $55.04. The impact to his portfolio due to this purchase was 3.17%. His holdings were 429,285 shares as of 06/30/2010.

Ross Stores, Inc. operates a chain of off-price retail apparel and home accessories stores, which target value conscious men and women between the ages of 25 and 54 in middle-to-upper middle income households. Ross Stores Inc. has a market cap of $6.14 billion; its shares were traded at around $50.28 with a P/E ratio of 12.6 and P/S ratio of 0.8. The dividend yield of Ross Stores Inc. stocks is 1.3%. Ross Stores Inc. had an annual average earning growth of 11.3% over the past 10 years. GuruFocus rated Ross Stores Inc. the business predictability rank of 3.5-star.

Added: Lamar Advertising Company (LAMR)

Chuck Akre added to his holdings in Lamar Advertising Company by 28.56%. His purchase prices were between $24.95 and $38.4, with an estimated average price of $32.12. The impact to his portfolio due to this purchase was 1.77%. His holdings were 1,138,320 shares as of 06/30/2010.

Lamar Advertising Company is one of the largest and most experienced owners and operators of outdoor advertising structures in the United States. Lamar Advertising Company has a market cap of $2.61 billion; its shares were traded at around $28.43 with and P/S ratio of 2.5. Lamar Advertising Company had an annual average earning growth of 6.3% over the past 10 years. GuruFocus rated Lamar Advertising Company the business predictability rank of 4.5-star.

Added: Enstar Group Ltd. (ESGR)

Chuck Akre added to his holdings in Enstar Group Ltd. by 20.45%. His purchase prices were between $61.08 and $69.15, with an estimated average price of $65.97. The impact to his portfolio due to this purchase was 1.28%. His holdings were 396,470 shares as of 06/30/2010.

Enstar Group Inc is engaged in the active search for and acquisition of one or more additional operating businesses. Enstar Group Ltd. has a market cap of $965.9 million; its shares were traded at around $69.82 with a P/E ratio of 6.2 and P/S ratio of 9.4.

Added: Mastercard Inc. (MA)

Chuck Akre added to his holdings in Mastercard Inc. by 233.33%. His purchase prices were between $195.46 and $267.22, with an estimated average price of $228.26. The impact to his portfolio due to this purchase was 1.2%. His holdings were 30,000 shares as of 06/30/2010.

MASTERCARD INCORPORATED advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. Mastercard Inc. has a market cap of $26.96 billion; its shares were traded at around $208.89 with a P/E ratio of 16.2 and P/S ratio of 5.3. The dividend yield of Mastercard Inc. stocks is 0.3%.

Added: Markel Corp. (MKL)

Chuck Akre added to his holdings in Markel Corp. by 7.31%. His purchase prices were between $336.12 and $386.4, with an estimated average price of $359.27. The impact to his portfolio due to this purchase was 0.76%. His holdings were 115,206 shares as of 06/30/2010.

Markel Corporation markets and underwrites specialty insurance products andprograms to a variety of niche markets. Markel Corp. has a market cap of $3.14 billion; its shares were traded at around $326.62 with a P/E ratio of 13.1 and P/S ratio of 1.5.

Added: Visa Inc. (V)

Chuck Akre added to his holdings in Visa Inc. by 108.33%. His purchase prices were between $70.09 and $96.59, with an estimated average price of $82.37. The impact to his portfolio due to this purchase was 0.53%. His holdings were 50,000 shares as of 06/30/2010.

VISA operates the world's largest retail electronic payments network and is one of the most recognized global financial services brands. Visa Inc. has a market cap of $59.53 billion; its shares were traded at around $71.63 with a P/E ratio of 19.4 and P/S ratio of 8.6. The dividend yield of Visa Inc. stocks is 0.7%.

Added: TD Ameritrade Holding Corp. (AMTD)

Chuck Akre added to his holdings in Td Ameritrade Holding Corp. by 33.33%. His purchase prices were between $15.27 and $20.49, with an estimated average price of $12.98. The impact to his portfolio due to this purchase was 0.43%. His holdings were 400,000 shares as of 06/30/2010.

TD Ameritrade Holding Corporation has a servicing self-directed investors through its brokerage subsidiaries. Td Ameritrade Holding Corp. has a market cap of $9.18 billion; its shares were traded at around $15.55 with a P/E ratio of 15.1 and P/S ratio of 3.8. Td Ameritrade Holding Corp. had an annual average earning growth of 12.2% over the past 5 years.

Added: Tradestation Group Inc (TRAD)

Chuck Akre added to his holdings in Tradestation Group Inc by 162.7%. His purchase prices were between $6.7 and $8.44, with an estimated average price of $7.47. The impact to his portfolio due to this purchase was 0.36%. His holdings were 300,000 shares as of 06/30/2010.

TradeStation Group, Inc., through its operating subsidiary, TradeStation Securities, Inc. Tradestation Group Inc has a market cap of $228 million; its shares were traded at around $5.58 with a P/E ratio of 18.6 and P/S ratio of 1.7. Tradestation Group Inc had an annual average earning growth of 14.3% over the past 5 years.

New Purchase: Berkshire Hathaway Inc. (BRK.B)

Chuck Akre initiated holdings in Berkshire Hathaway Inc.. His purchase prices were between $70.04 and $81.9, with an estimated average price of $76.75. The impact to his portfolio due to this purchase was 1.93%. His holdings were 85,050 shares as of 06/30/2010.

Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities. Berkshire Hathaway Inc. has a market cap of $192.3 billion; its shares were traded at around $77.54 with a P/E ratio of 22.6 and P/S ratio of 1.9. Berkshire Hathaway Inc. had an annual average earning growth of 13.2% over the past 10 years.

New Purchase: Msci Inc (MXB)

Chuck Akre initiated holdings in Msci Inc. His purchase prices were between $27.23 and $37.96, with an estimated average price of $32.55. The impact to his portfolio due to this purchase was 1.17%. His holdings were 150,000 shares as of 06/30/2010.

MSCI Inc. is a provider of investment decision support tools to investment institutions worldwide. Msci Inc has a market cap of $2.92 billion; its shares were traded at around $27.77 with a P/E ratio of 23.53 and P/S ratio of 6.58.

New Purchase: Becton Dickinson And Company (BDX)

Chuck Akre initiated holdings in Becton Dickinson And Company. His purchase prices were between $67.45 and $79.66, with an estimated average price of $73.87. The impact to his portfolio due to this purchase was 0.96%. His holdings were 50,000 shares as of 06/30/2010.

Becton, Dickinson and Co. is engaged principally in the manufacture and sale of a broad line of supplies, devices and systems used by health care professionals, medical research institutions and the general public. Becton Dickinson And Company has a market cap of $16.62 billion; its shares were traded at around $71.31 with a P/E ratio of 14.1 and P/S ratio of 2.3. The dividend yield of Becton Dickinson And Company stocks is 2.1%. Becton Dickinson And Company had an annual average earning growth of 13.9% over the past 10 years. GuruFocus rated Becton Dickinson And Company the business predictability rank of 4.5-star.

New Purchase: W.R. Berkley Corp. (WRB)

Chuck Akre initiated holdings in W.r. Berkley Corp.. His purchase prices were between $26.1 and $28.01, with an estimated average price of $27.08. The impact to his portfolio due to this purchase was 0.75%. His holdings were 100,000 shares as of 06/30/2010.

W. R. Berkley Corporation is an insurance holding company, which through its subsidiaries, operates in all segments of the property casualty insurance business: regional property casualty insurance; reinsurance; specialty lines of insurance; alternative markets; and international. W.r. Berkley Corp. has a market cap of $4.03 billion; its shares were traded at around $26.43 with a P/E ratio of 9.7 and P/S ratio of 0.9. The dividend yield of W.r. Berkley Corp. stocks is 1.1%.

New Purchase: Ensco International Inc. (ESV)

Chuck Akre initiated holdings in Ensco International Inc.. His purchase prices were between $34.45 and $51.95, with an estimated average price of $42.39. The impact to his portfolio due to this purchase was 0.56%. His holdings were 50,000 shares as of 06/30/2010.

Ensco International plc, formerly ENSCO International Incorporated, is a provider of offshore contract drilling services to the international oil and gas industry. Ensco International Inc. has a market cap of $6.04 billion; its shares were traded at around $42.18 with a P/E ratio of 10 and P/S ratio of 3.1. The dividend yield of Ensco International Inc. stocks is 1%. Ensco International Inc. had an annual average earning growth of 23.9% over the past 10 years. GuruFocus rated Ensco International Inc. the business predictability rank of 3.5-star.

New Purchase: Fox Chase Bancorp Inc. (FXCB)

Chuck Akre initiated holdings in Fox Chase Bancorp Inc.. His purchase prices were between $10.24 and $11.58, with an estimated average price of $10.83. The impact to his portfolio due to this purchase was 0.27%. His holdings were 100,000 shares as of 06/30/2010.

FOX CHASE BANCORP, INC. is the mid-tier stock holding company of Fox Chase Bank, a federally chartered savings bank. Fox Chase Bancorp Inc. has a market cap of $118.8 million; its shares were traded at around $9.33 with and P/S ratio of 2.2.

New Purchase: Greenlight Capital Re Ltd. (GLRE)

Chuck Akre initiated holdings in Greenlight Capital Re Ltd.. His purchase prices were between $23.05 and $27.36, with an estimated average price of $25.22. The impact to his portfolio due to this purchase was 0.19%. His holdings were 26,910 shares as of 06/30/2010.

GREENLIGHT CAPITAL REINSURANCE LTD. is an AM Best `A-` (Excellent) rated specialty property and casualty reinsurance company based in the Cayman Islands. Greenlight Capital Re Ltd. has a market cap of $679.7 million; its shares were traded at around $22.54 with a P/E ratio of 8.8 and P/S ratio of 1.7.

New Purchase: First Financial Holdings Inc. (FFCH)

Chuck Akre initiated holdings in First Financial Holdings Inc.. His purchase prices were between $11.67 and $15.63, with an estimated average price of $13.74. The impact to his portfolio due to this purchase was 0.07%. His holdings were 20,000 shares as of 06/30/2010.

FIRST FINANCIAL HOLDINGS INC. acts as a financial intermediary by attracting deposits from the general public and using such funds, together with borrowings and other funds, to originate first mortgage loans on residential properties located in its primary market areas. First Financial Holdings Inc. has a market cap of $162.4 million; its shares were traded at around $9.83 with and P/S ratio of 0.7. The dividend yield of First Financial Holdings Inc. stocks is 2.1%.

Reduced: T. Rowe Price Group Inc. (TROW)

Chuck Akre reduced to his holdings in T. Rowe Price Group Inc. by 47.89%. His sale prices were between $44.85 and $58.98, with an estimated average price of $52.68. The impact to his portfolio due to this sale was -0.5%. Chuck Akre still held 82,800 shares as of 06/30/2010.

T. Rowe Price Associates, Inc. is an investment adviser to individual and institutional investors in the sponsored T. T. Rowe Price Group Inc. has a market cap of $11.85 billion; its shares were traded at around $45.65 with a P/E ratio of 20.5 and P/S ratio of 6.3. The dividend yield of T. Rowe Price Group Inc. stocks is 2.3%. T. Rowe Price Group Inc. had an annual average earning growth of 10.6% over the past 10 years.

Reduced: Transatlantic Holdings Inc. (TRH)

Chuck Akre reduced to his holdings in Transatlantic Holdings Inc. by 28.55%. His sale prices were between $44.74 and $53.17, with an estimated average price of $49.03. The impact to his portfolio due to this sale was -0.59%. Chuck Akre still held 150,000 shares as of 06/30/2010.

Transatlantic Holdings, through its wholly-owned subsidiaries, Transatlantic Reinsurance Company, Trans Re Zurich, and Putnam, offers reinsurance capacity for a full range of property and casualty products on a treaty and facultative basis, directly and through brokers, to insurance and reinsurance companies, in both the domestic and international markets. Transatlantic Holdings Inc. has a market cap of $3.05 billion; its shares were traded at around $47.38 with a P/E ratio of 7.8 and P/S ratio of 0.7. The dividend yield of Transatlantic Holdings Inc. stocks is 1.7%.

Reduced: Factset Research Systems Inc. (FDS)

Chuck Akre reduced to his holdings in Factset Research Systems Inc. by 27.2%. His sale prices were between $65.77 and $76.93, with an estimated average price of $71.95. The impact to his portfolio due to this sale was -0.85%. Chuck Akre still held 164,000 shares as of 06/30/2010.

FactSet Research Systems Inc. supplies global economic and financial data to analysts, investment bankers and other financial professionals. Factset Research Systems Inc. has a market cap of $3.4 billion; its shares were traded at around $74.07 with a P/E ratio of 24.5 and P/S ratio of 5.5. The dividend yield of Factset Research Systems Inc. stocks is 1.2%. Factset Research Systems Inc. had an annual average earning growth of 20.8% over the past 10 years. GuruFocus rated Factset Research Systems Inc. the business predictability rank of 5-star.

Reduced: Penn National Gaming Inc. (PENN)

Chuck Akre reduced to his holdings in Penn National Gaming Inc. by 51.09%. His sale prices were between $23.77 and $31.74, with an estimated average price of $27.58. The impact to his portfolio due to this sale was -1.25%. Chuck Akre still held 371,045 shares as of 06/30/2010.

Penn National Gaming, Inc. are a diversified gaming and pari-mutuel wagering company. Penn National Gaming Inc. has a market cap of $2.27 billion; its shares were traded at around $28.61 with a P/E ratio of 35.4 and P/S ratio of 0.9.

Sold Out: Entertainment Properties Trust (EPR)

Chuck Akre sold out his holdings in Entertainment Properties Trust. His sale prices were between $37.82 and $46.46, with an estimated average price of $41.97.

Entertainment Properties Trust is a Real Estate Investment Trust whose principal business strategy is to acquire and develop a diversified portfolio of high-quality properties leased to entertainment-related business operators. Entertainment Properties Trust has a market cap of $1.93 billion; its shares were traded at around $41.55 with a P/E ratio of 10.2 and P/S ratio of 7.2. The dividend yield of Entertainment Properties Trust stocks is 6.2%. Entertainment Properties Trust had an annual average earning growth of 3.7% over the past 10 years.


Rating: 2.7/5 (3 votes)

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