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Chuck Akre Q1 Portfolio: Buys T. Rowe Price Group Inc., Sells Entertainment Properties Trust, Isle of Capri Casinos Inc., Wells Fargo & Company

This is the Q1 portfolio update of Chuck Akre. Chuck Akre thinks that the “crisis” has passed, the economy is still declining, although we believe more slowly, and that the market is generally in a “fair value” range. He has almost half of his portfolio in consumer services: gaming, car parts retailer, retailer etc. Chuck Akre owns 29 stocks with a total value of $758 million. These are the details of the buys and sells.

Chuck Akre buys T. Rowe Price Group Inc., sells Entertainment Properties Trust, Isle of Capri Casinos Inc., Wells Fargo & Company during the 3-months ended 03/31/2009, according to the most recent filings of his investment company, Akre Capital Management, LLC. Chuck Akre owns 29 stocks with a total value of $758 million. These are the details of the buys and sells.

New Purchases: TROW,

Added Positions: ACF, DDMX,

Reduced Positions: IRM, MCRI, ORLY, PENN, PNK,

Sold Out: EPR, ISLE, WFC,

For the details of Chuck Akre's stock buys and sells, go to the Link Here

This is the sector weightings of Chuck Akre's portfolio:

Technology 17.3% 17.3%
Financials 25.5% 25.5%
Utilities 0.3% 0.3%
Consumer Services 48.3% 48.3%
Consumer Goods 3.1% 3.1%
Industrials 5.5% 5.5%
Oil & Gas 0% 0%


These are the top 5 holdings of Chuck Akre

  1. American Tower Corp. (AMT) - 4,305,486 shares, 17.28% of the total portfolio
  2. Markel Corp. (MKL) - 353,532 shares, 13.24% of the total portfolio
  3. Penn National Gaming Inc. (PENN) - 4,138,366 shares, 13.18% of the total portfolio
  4. O'Reilly Automotive Inc. (ORLY) - 2,333,422 shares, 10.78% of the total portfolio
  5. 99 ONLY STORES (NDN) - 6,968,870 shares, 8.49% of the total portfolio
Added: AmeriCredit Corp. (ACF)

Chuck Akre added to his holdings in AmeriCredit Corp. by 16.99%. His purchase prices were between $3.3 and $7.75, with an estimated average price of $5.2. The impact to his portfolio due to this purchase was 0.36%. His holdings were 3,193,302 shares as of 03/31/2009.

AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. AmeriCredit Corp. has a market cap of $1.44 billion; its shares were traded at around $10.9 with a P/E ratio of 181.7 and P/S ratio of 0.6. AmeriCredit Corp. had an annual average earning growth of 13.2% over the past 10 years. GuruFocus rated AmeriCredit Corp. the business predictability rank of 2.5-star.

Added: Dynamex Inc. (DDMX)

Chuck Akre added to his holdings in Dynamex Inc. by 10.18%. His purchase prices were between $10.71 and $13.81, with an estimated average price of $11.9. The impact to his portfolio due to this purchase was 0.13%. His holdings were 811,824 shares as of 03/31/2009.

Dynamex is a leading provider of same-day delivery and logistics services in the United States and Canada. From its base as the largest nationwide same-day transportation company in Canada Dynamex has established a presence in metropolitan markets in the United States and has continued to expand its system in Canada. Through its network of branch offices the Company provides same-day door-to-door delivery services utilizing its ground couriers. Dynamex Inc. has a market cap of $164.2 million; its shares were traded at around $16.91 with a P/E ratio of 11.2 and P/S ratio of 0.4. Dynamex Inc. had an annual average earning growth of 6.9% over the past 10 years.

New Purchase: T. Rowe Price Group Inc. (TROW)

Chuck Akre initiated holdings in T. Rowe Price Group Inc.. His purchase prices were between $20.86 and $31.49, with an estimated average price of $26.7. The impact to his portfolio due to this purchase was 1.97%. His holdings were 517,340 shares as of 03/31/2009.

T. Rowe Price Associates Inc. is an investment adviser to individual and institutional investors in the sponsored T. Rowe Price Mutual Funds and other investment portfolios including those of defined benefit and defined contribution retirement plans trusts and other mutual fundssome of which hold the assets of variable annuity insurance contracts. T. Rowe Price Group Inc. has a market cap of $9.95 billion; its shares were traded at around $38.89 with a P/E ratio of 25.6 and P/S ratio of 4.7. The dividend yield of T. Rowe Price Group Inc. stocks is 2.6%. T. Rowe Price Group Inc. had an annual average earning growth of 10.9% over the past 10 years. GuruFocus rated T. Rowe Price Group Inc. the business predictability rank of 2.5-star.

Reduced: Monarch Casino & Resort Inc. (MCRI)

Chuck Akre reduced to his holdings in Monarch Casino & Resort Inc. by 22.63%. His sale prices were between $3.8 and $11.51, with an estimated average price of $8.1. The impact to his portfolio due to this sale was -0.15%. Chuck Akre still held 995,000 shares as of 03/31/2009.

Monarch Casino & Resort Inc. through its wholly-owned subsidiary GoldenRoad Motor Inn Inc. owns and operates the tropically-themed Atlantis Casino Resort in Reno Nevada. Monarch Casino & Resort Inc. has a market cap of $146.3 million; its shares were traded at around $9.07 with a P/E ratio of 18.1 and P/S ratio of 1. Monarch Casino & Resort Inc. had an annual average earning growth of 10.5% over the past 5 years.

Reduced: Iron Mountain Inc. (IRM)

Chuck Akre reduced to his holdings in Iron Mountain Inc. by 47.2%. His sale prices were between $17.8 and $22.95, with an estimated average price of $20.8. The impact to his portfolio due to this sale was -0.3%. Chuck Akre still held 218,060 shares as of 03/31/2009.

Iron Mountain Incorporated is one of the world's largest records and information management services company. The company is an international full-service provider of records and information management and related services enabling customers to outsource records management functions. Iron Mountain has a diversified customer base which includes more than half of the Fortune 500 and numerous commercial legal banking healthcare accounting insurance entertainment and government organizations. Iron Mountain Inc. has a market cap of $5.67 billion; its shares were traded at around $28.09 with a P/E ratio of 35.1 and P/S ratio of 1.9. Iron Mountain Inc. had an annual average earning growth of 16.7% over the past 10 years. GuruFocus rated Iron Mountain Inc. the business predictability rank of 5-star.

Reduced: Pinnacle Entertainment Inc. (PNK)

Chuck Akre reduced to his holdings in Pinnacle Entertainment Inc. by 51.63%. His sale prices were between $5.4 and $7.51, with an estimated average price of $7. The impact to his portfolio due to this sale was -0.43%. Chuck Akre still held 896,730 shares as of 03/31/2009.

Pinnacle Entertainment is a diversified gaming company that owns and operates casinos in Indiana Louisiana Mississippi Nevada and Argentina and is pursuing the development of a hotel and casino resort in Lake Charles Louisiana. The Company also receives lease income from two card club casinos both in the Los Angeles metropolitan area. Pinnacle Entertainment Inc. has a market cap of $696.5 million; its shares were traded at around $11.61 with and P/S ratio of 0.7. Pinnacle Entertainment Inc. had an annual average earning growth of 0.2% over the past 10 years.

Reduced: O'Reilly Automotive Inc. (ORLY)

Chuck Akre reduced to his holdings in O'Reilly Automotive Inc. by 26.6%. His sale prices were between $28.28 and $34.91, with an estimated average price of $31.4. The impact to his portfolio due to this sale was -2.87%. Chuck Akre still held 2,333,422 shares as of 03/31/2009.

O'Reilly Automotive Inc. is a specialty retailer and supplier of automotive aftermarket parts tools supplies equipment and accessories to both ``do-it-yourself`` customers and professional mechanics or service technicians. O'Reilly stores carry an extensive product line consisting of new and remanufactured automotive hard parts such as alternators starters fuel pumps water pumps and brake shoes and pads maintenance items such as oil antifreeze fluids engine additives and appearance products accessories such as floor mats and seat covers. O'Reilly Automotive Inc. has a market cap of $5.07 billion; its shares were traded at around $37.55 with a P/E ratio of 21.8 and P/S ratio of 1.4. O'Reilly Automotive Inc. had an annual average earning growth of 19% over the past 10 years. GuruFocus rated O'Reilly Automotive Inc. the business predictability rank of 4.5-star.

Reduced: Penn National Gaming Inc. (PENN)

Chuck Akre reduced to his holdings in Penn National Gaming Inc. by 32.65%. His sale prices were between $17.09 and $24.2, with an estimated average price of $20.3. The impact to his portfolio due to this sale was -4.3%. Chuck Akre still held 4,138,366 shares as of 03/31/2009.

Penn National Gaming Inc. are a diversified gaming and pari-mutuel wagering company. Their business strategy is focused on exploiting the higher margins and more stable cash flows associated with gaming operations compared to pari-mutuel operations. Penn National Gaming Inc. has a market cap of $2.5 billion; its shares were traded at around $31.86 with a P/E ratio of 24.5 and P/S ratio of 1. The dividend yield of Penn National Gaming Inc. stocks is 1.1%. Penn National Gaming Inc. had an annual average earning growth of 27.7% over the past 5 years.

Sold Out: Isle of Capri Casinos Inc. (ISLE)

Chuck Akre sold out his holdings in Isle of Capri Casinos Inc.. His sale prices were between $2.8 and $5.45, with an estimated average price of $3.6. The impact to his portfolio due to this sale was less than 0.01%.

Isle of Capri Casinos is a developer owner and operator of branded gaming and related lodging and entertainment facilities in growing markets in the United States. The company wholly or partially owns and operates gaming facilities under the name ``Isle of Capri``. In addition the company wholly owns and operates a pari-mutuel harness racing facility and owns interests in and operates gaming activities aboard a cruise ship based. Isle of Capri Casinos Inc. has a market cap of $405.5 million; its shares were traded at around $12.76 with and P/S ratio of 0.4. Isle of Capri Casinos Inc. had an annual average earning growth of 3.3% over the past 10 years.

Sold Out: Entertainment Properties Trust (EPR)

Chuck Akre sold out his holdings in Entertainment Properties Trust. His sale prices were between $12.33 and $25.59, with an estimated average price of $18.9. The impact to his portfolio due to this sale was less than 0.01%.

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. The company is focused on entertainment themed retail centers and megaplex theatres. Entertainment Properties Trust has a market cap of $674.1 million; its shares were traded at around $19.41 with a P/E ratio of 4.3 and P/S ratio of 2.3. The dividend yield of Entertainment Properties Trust stocks is 13.4%. Entertainment Properties Trust had an annual average earning growth of 11.1% over the past 10 years. GuruFocus rated Entertainment Properties Trust the business predictability rank of 5-star.

Sold Out: Wells Fargo & Company (WFC)

Chuck Akre sold out his holdings in Wells Fargo & Company. His sale prices were between $8.59 and $24.63, with an estimated average price of $15.6. The impact to his portfolio due to this sale was less than 0.01%.

Wells Fargo & Company is a diversified financial services company providing banking insurance investments mortgage and consumer finance services through stores its Internet site and other distribution channels across North America as well as internationally. (Company Press Release) Wells Fargo & Company has a market cap of $107.79 billion; its shares were traded at around $25.4 with a P/E ratio of 30.9 and P/S ratio of 2.1. The dividend yield of Wells Fargo & Company stocks is 0.7%. Wells Fargo & Company had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated Wells Fargo & Company the business predictability rank of 4-star.


Rating: 2.4/5 (9 votes)

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