Chuck Akre (Trades, Portfolio) is one of those outstanding mangers that have performed exceptionally well over the long term with a focused, low turnover portfolio construction approach. It is great for us individual investors to be able to get ideas from his every quarter as he is a long-term value investor we can follow intelligently to higher returns.
His top three buys of the quarter that have just been disclosed today are:
AMT: American Tower Corp. (AMT) is an owner, operator and developer of wireless and broadcast communications real estate. Its main business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries. Chuck Akre (Trades, Portfolio) added 17.45% to his existing position at levels between $71 and $81 per share. The current stock price is at a 5% premium to that range. Larry Robbins (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) are other gurus currently holding the stock.
DLTR: Chuck Akre (Trades, Portfolio) added 20% to his position in Dollar Tree Stores (DLTR) over the last quarter at prices between $54.90 and 59.90. The current stock price is at an 11% discount to the average of that range. The company is an operator of discount variety stores offering merchandise at the fixed price of $1.00. The Company's stores operate under the names of Dollar Tree, Deal$, Dollar Tree Deal$, Dollar Tree Canada, Dollar Giant and Dollar Bills. In 4,476 of these stores, it sells substantially all items for $1.00 or less in the United States and C$1.25 or less in Canada.
MWE: MarkWest Energy Partners LP (MWE) is involved in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of NGLs; and the gathering and transportation of crude oil. The Company conducts its operations in four geographical operating segments: Southwest, Northeast, Liberty and Utica. Chuck Akre (Trades, Portfolio) added 400,000 shares of the company to his alredy existing 304,935 shares accumulated during quarter three. The current stock price is barely 2% above the average price over the fourth quarter period and other notable gurus have been adding to their positions (Jim Simons (Trades, Portfolio)).