Value investor Chuck Akre likes to stay fully invested, at good times and bad. This has helped him generated long term above average returns, although it seems not working at this moment. These are his buys and sells during the second quarter. Chuck Akre owns 41 stocks with a total value of $1.4 billion.
Chuck Akre buys Bally Technologies Inc, Enstar Group Ltd., Franklin Street Properties Corp, sells CSK Auto Corp., Freddie Mac, Hilb Rogal & Hobbs Company, Lehman Brothers Holdings Inc. during the 3-months ended 06/30/2008, according to the most recent filings of his investment company, Akre Capital Management, LLC. Chuck Akre owns 41 stocks with a total value of $1.4 billion. These are the details of the buys and sells.
New Purchases: BYI, ESGR, FSP,
Added Positions: LAMR, ORLY,
Reduced Positions: AES, IGT, ISCA, KNX,
Sold Out: CAO, FRE, HRH, LEH,
For the details of Chuck Akre's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Chuck+Akre
Added: Lamar Advertising Company (LAMR, Financial)
Chuck Akre added to his holdings in Lamar Advertising Company by 6.31%. His purchase prices were between $33.93 and $41.85, with an estimated average price of $37.7. The impact to his portfolio due to this purchase was 0.38%. His holdings were 2,602,137 shares as of 06/30/2008.
Lamar Advertising Company is one of the largest and most experienced owners and operators of outdoor advertising structures in the United States. They also operate the largest logo sign business in the United States and transit advertising displays on bus shelters bus benches and buses in several markets. Logo signs are signs located near highway exits which deliver brand name information on available gas food lodging and camping services. Lamar Advertising Company has a market cap of $3.65 billion; its shares were traded at around $39.96 with a P/E ratio of 120.00 and P/S ratio of 2.93.
Added: O'Reilly Automotive Inc. (ORLY, Financial)
Chuck Akre added to his holdings in O'Reilly Automotive Inc. by 9.1%. His purchase prices were between $22.79 and $29.78, with an estimated average price of $26.7. The impact to his portfolio due to this purchase was 0.35%. His holdings were 2,699,391 shares as of 06/30/2008.
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 $3.95 billion; its shares were traded at around $29.5 with a P/E ratio of 17.53 and P/S ratio of 1.48.
New Purchase: Bally Technologies Inc (BYI, Financial)
Chuck Akre initiated holdings in Bally Technologies Inc. His purchase prices were between $32.5 and $45.01, with an estimated average price of $37.8. The impact to his portfolio due to this purchase was 5.51%. His holdings were 2,358,737 shares as of 06/30/2008.
Alliance Gaming Corp. is a diversified worldwide gaming company that designs manufactures and distributes gaming machines and computerized monitoring systems for gaming machines owns and manages a significant installed base of gaming machines owns and operates casinos and in Germany is a full-service supplier of wall-mounted gaming machines and amusement games. The company has achieved a leading market position for each of its business units. Bally Technologies Inc has a market cap of $1.82 billion; its shares were traded at around $33.29 with a P/E ratio of 20.29 and P/S ratio of 2.19.
New Purchase: Enstar Group Ltd. (ESGR, Financial)
Chuck Akre initiated holdings in Enstar Group Ltd.. His purchase prices were between $89.88 and $118.67, with an estimated average price of $104.3. The impact to his portfolio due to this purchase was 3.7%. His holdings were 611,338 shares as of 06/30/2008.
Enstar Group Inc is engaged in the active search for and acquisition of one or more additional operating businesses. This search represents their primary focus. They investigate acquisition opportunities worldwide. Enstar Group Ltd. has a market cap of $1.3 billion; its shares were traded at around $108.67 with a P/E ratio of 22.06 and P/S ratio of 18.01.
New Purchase: Franklin Street Properties Corp (FSP, Financial)
Chuck Akre initiated holdings in Franklin Street Properties Corp. His purchase prices were between $12.54 and $15.44, with an estimated average price of $14.1. The impact to his portfolio due to this purchase was 0.03%. His holdings were 33,146 shares as of 06/30/2008.
Franklin Street Properties Corp operates in two business segments: real estate operations and investment banking/investment services. They own a portfolio of real estate including office buildings apartment complexes and industrial use properties. Through a wholly-owned subsidiary FSP Investments LLC the Company organizes single purpose entities that own real estate and conducts the private placement of equity in those entities. Franklin Street Properties Corp has a market cap of $957.12 million; its shares were traded at around $13.58 with a P/E ratio of 26.02 and P/S ratio of 7.60. The dividend yield of Franklin Street Properties Corp stocks is 6.1%.
Reduced: International Speedway Corp. (ISCA, Financial)
Chuck Akre reduced to his holdings in International Speedway Corp. by 58.6%. His sale prices were between $39.95 and $44.38, with an estimated average price of $42.7. The impact to his portfolio due to this sale was -0.01%. Chuck Akre still held 7,625 shares as of 06/30/2008.
International Speedway Corporation's operations consist principally of racing events at its motorsports facilities which generate revenue primarily through sales of admissions to racing events television broadcast rights fees sponsorship fees hospitality rentals royalties from licenses of trademarks and provides catering souvenir and food concession services at certain facilities. International Speedway Corp. has a market cap of $1.96 billion; its shares were traded at around $39.65 with a P/E ratio of 21.63 and P/S ratio of 2.36. The dividend yield of International Speedway Corp. stocks is 0.32%.
Reduced: International Game Technology (IGT, Financial)
Chuck Akre reduced to his holdings in International Game Technology by 43.04%. His sale prices were between $24.91 and $41.36, with an estimated average price of $34.3. The impact to his portfolio due to this sale was -0.03%. Chuck Akre still held 31,979 shares as of 06/30/2008.
International Game Technology is one of the largest manufacturers of computerized casino gaming products and operators of proprietary gaming systems in the world and was the first to develop computerized video gaming machines. International Game Technology has a market cap of $7.12 billion; its shares were traded at around $23.99 with a P/E ratio of 18.45 and P/S ratio of 2.81. The dividend yield of International Game Technology stocks is 2.5%.
Reduced: Knight Transportation Inc. (KNX, Financial)
Chuck Akre reduced to his holdings in Knight Transportation Inc. by 59.16%. His sale prices were between $15.55 and $18.67, with an estimated average price of $17.4. The impact to his portfolio due to this sale was -0.33%. Chuck Akre still held 432,900 shares as of 06/30/2008.
KNIGHT TRANSPORTATION INC. is a short to medium-haul dry van truckload carrier operating in the western region of the United States. Co. transports general commodities including consumer goods packaged foodstuffs paper products beverage containers and imported and exported commodities. Knight Transportation Inc. has a market cap of $1.64 billion; its shares were traded at around $19.09 with a P/E ratio of 31.61 and P/S ratio of 2.23. The dividend yield of Knight Transportation Inc. stocks is 0.8%.
Reduced: AES Corp. The (AES, Financial)
Chuck Akre reduced to his holdings in AES Corp. The by 69.91%. His sale prices were between $17.06 and $20.12, with an estimated average price of $18.7. The impact to his portfolio due to this sale was -0.41%. Chuck Akre still held 437,390 shares as of 06/30/2008.
AES Corporation and its subsidiaries and affiliates are a global power company committed to serving the world's needs for electricity in a socially responsible way. AES's electricity generation business consists of sales to wholesale customers for further resale to end users. AES also sells electricity directly to end users such as commercial industrial governmental and residential customers through its distribution business. AES Corp. The has a market cap of $10.31 billion; its shares were traded at around $15.32 with a P/E ratio of 8.35 and P/S ratio of 0.66.
Sold Out: Lehman Brothers Holdings Inc. (LEH, Financial)
Chuck Akre sold out his holdings in Lehman Brothers Holdings Inc.. His sale prices were between $22.07 and $46.45, with an estimated average price of $37.1. The impact to his portfolio due to this sale was less than 0.01%.
Lehman Brothers is a global investment banks serving institutional corporate government and high-net-worth individual clients and customers. The company's worldwide headquarters in New York and regional headquarters in London and Tokyo are complemented by offices in additional locations in the United States Europe the Middle East Latin America and the Asia Pacific region. The company is engaged primarily in providing financial services. Other businesses in which the company is engaged represent less than 10 percent of consolidated assets revenues or pre-tax income. Lehman Brothers Holdings Inc. has a market cap of $11.23 billion; its shares were traded at around $16.17 with P/S ratio of 0.98. The dividend yield of Lehman Brothers Holdings Inc. stocks is 4%.
Sold Out: CSK Auto Corp. (CAO, Financial)
Chuck Akre sold out his holdings in CSK Auto Corp.. His sale prices were between $10.69 and $12.01, with an estimated average price of $11.6. The impact to his portfolio due to this sale was less than 0.01%.
CSK Auto Corporation is the largest retailer of automotive parts and accessories in the Western United States and one of the largest retailers of such products in the United States. They offer a broad selection of national brand name and private label automotive products for domestic and imported cars vans and light trucks. Products include new and remanufactured automotive replacement parts maintenance items and accessories and are sold under three brand names: Checker Auto Parts Schuck's Auto Supply and Kragen Auto Parts. CSK Auto Corp. has a market cap of $ million; its shares were traded at around $10.78 .
Sold Out: Hilb Rogal & Hobbs Company (HRH)
Chuck Akre sold out his holdings in Hilb Rogal & Hobbs Company. His sale prices were between $28.07 and $44.39, with an estimated average price of $33.5. The impact to his portfolio due to this sale was less than 0.01%.
Hilb Rogal & Hobbs Company is the nation's seventh largest insurance and risk management intermediary. With offices located throughout the United States HRH assists clients in managing their risks in areas such as property and casualty employee benefits and many other areas of specialized exposure. Hilb Rogal & Hobbs Company has a market cap of $1.61 billion; its shares were traded at around $44.29 with a P/E ratio of 34.49 and P/S ratio of 1.96. The dividend yield of Hilb Rogal & Hobbs Company stocks is 1.3%.
Sold Out: Freddie Mac (FRE)
Chuck Akre sold out his holdings in Freddie Mac. His sale prices were between $17.85 and $27.62, with an estimated average price of $24.6. The impact to his portfolio due to this sale was less than 0.01%.
Freddie Mac is a stockholder-owned corporation that supports homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities which it finances primarily by issuing mortgage passthrough securities and debt instruments in the capital markets. (Company Press Release) Freddie Mac has a market cap of $3.79 billion; its shares were traded at around $5.85 . The dividend yield of Freddie Mac stocks is 12.1%.
Chuck Akre buys Bally Technologies Inc, Enstar Group Ltd., Franklin Street Properties Corp, sells CSK Auto Corp., Freddie Mac, Hilb Rogal & Hobbs Company, Lehman Brothers Holdings Inc. during the 3-months ended 06/30/2008, according to the most recent filings of his investment company, Akre Capital Management, LLC. Chuck Akre owns 41 stocks with a total value of $1.4 billion. These are the details of the buys and sells.
New Purchases: BYI, ESGR, FSP,
Added Positions: LAMR, ORLY,
Reduced Positions: AES, IGT, ISCA, KNX,
Sold Out: CAO, FRE, HRH, LEH,
For the details of Chuck Akre's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Chuck+Akre
Added: Lamar Advertising Company (LAMR, Financial)
Chuck Akre added to his holdings in Lamar Advertising Company by 6.31%. His purchase prices were between $33.93 and $41.85, with an estimated average price of $37.7. The impact to his portfolio due to this purchase was 0.38%. His holdings were 2,602,137 shares as of 06/30/2008.
Lamar Advertising Company is one of the largest and most experienced owners and operators of outdoor advertising structures in the United States. They also operate the largest logo sign business in the United States and transit advertising displays on bus shelters bus benches and buses in several markets. Logo signs are signs located near highway exits which deliver brand name information on available gas food lodging and camping services. Lamar Advertising Company has a market cap of $3.65 billion; its shares were traded at around $39.96 with a P/E ratio of 120.00 and P/S ratio of 2.93.
Added: O'Reilly Automotive Inc. (ORLY, Financial)
Chuck Akre added to his holdings in O'Reilly Automotive Inc. by 9.1%. His purchase prices were between $22.79 and $29.78, with an estimated average price of $26.7. The impact to his portfolio due to this purchase was 0.35%. His holdings were 2,699,391 shares as of 06/30/2008.
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 $3.95 billion; its shares were traded at around $29.5 with a P/E ratio of 17.53 and P/S ratio of 1.48.
New Purchase: Bally Technologies Inc (BYI, Financial)
Chuck Akre initiated holdings in Bally Technologies Inc. His purchase prices were between $32.5 and $45.01, with an estimated average price of $37.8. The impact to his portfolio due to this purchase was 5.51%. His holdings were 2,358,737 shares as of 06/30/2008.
Alliance Gaming Corp. is a diversified worldwide gaming company that designs manufactures and distributes gaming machines and computerized monitoring systems for gaming machines owns and manages a significant installed base of gaming machines owns and operates casinos and in Germany is a full-service supplier of wall-mounted gaming machines and amusement games. The company has achieved a leading market position for each of its business units. Bally Technologies Inc has a market cap of $1.82 billion; its shares were traded at around $33.29 with a P/E ratio of 20.29 and P/S ratio of 2.19.
New Purchase: Enstar Group Ltd. (ESGR, Financial)
Chuck Akre initiated holdings in Enstar Group Ltd.. His purchase prices were between $89.88 and $118.67, with an estimated average price of $104.3. The impact to his portfolio due to this purchase was 3.7%. His holdings were 611,338 shares as of 06/30/2008.
Enstar Group Inc is engaged in the active search for and acquisition of one or more additional operating businesses. This search represents their primary focus. They investigate acquisition opportunities worldwide. Enstar Group Ltd. has a market cap of $1.3 billion; its shares were traded at around $108.67 with a P/E ratio of 22.06 and P/S ratio of 18.01.
New Purchase: Franklin Street Properties Corp (FSP, Financial)
Chuck Akre initiated holdings in Franklin Street Properties Corp. His purchase prices were between $12.54 and $15.44, with an estimated average price of $14.1. The impact to his portfolio due to this purchase was 0.03%. His holdings were 33,146 shares as of 06/30/2008.
Franklin Street Properties Corp operates in two business segments: real estate operations and investment banking/investment services. They own a portfolio of real estate including office buildings apartment complexes and industrial use properties. Through a wholly-owned subsidiary FSP Investments LLC the Company organizes single purpose entities that own real estate and conducts the private placement of equity in those entities. Franklin Street Properties Corp has a market cap of $957.12 million; its shares were traded at around $13.58 with a P/E ratio of 26.02 and P/S ratio of 7.60. The dividend yield of Franklin Street Properties Corp stocks is 6.1%.
Reduced: International Speedway Corp. (ISCA, Financial)
Chuck Akre reduced to his holdings in International Speedway Corp. by 58.6%. His sale prices were between $39.95 and $44.38, with an estimated average price of $42.7. The impact to his portfolio due to this sale was -0.01%. Chuck Akre still held 7,625 shares as of 06/30/2008.
International Speedway Corporation's operations consist principally of racing events at its motorsports facilities which generate revenue primarily through sales of admissions to racing events television broadcast rights fees sponsorship fees hospitality rentals royalties from licenses of trademarks and provides catering souvenir and food concession services at certain facilities. International Speedway Corp. has a market cap of $1.96 billion; its shares were traded at around $39.65 with a P/E ratio of 21.63 and P/S ratio of 2.36. The dividend yield of International Speedway Corp. stocks is 0.32%.
Reduced: International Game Technology (IGT, Financial)
Chuck Akre reduced to his holdings in International Game Technology by 43.04%. His sale prices were between $24.91 and $41.36, with an estimated average price of $34.3. The impact to his portfolio due to this sale was -0.03%. Chuck Akre still held 31,979 shares as of 06/30/2008.
International Game Technology is one of the largest manufacturers of computerized casino gaming products and operators of proprietary gaming systems in the world and was the first to develop computerized video gaming machines. International Game Technology has a market cap of $7.12 billion; its shares were traded at around $23.99 with a P/E ratio of 18.45 and P/S ratio of 2.81. The dividend yield of International Game Technology stocks is 2.5%.
Reduced: Knight Transportation Inc. (KNX, Financial)
Chuck Akre reduced to his holdings in Knight Transportation Inc. by 59.16%. His sale prices were between $15.55 and $18.67, with an estimated average price of $17.4. The impact to his portfolio due to this sale was -0.33%. Chuck Akre still held 432,900 shares as of 06/30/2008.
KNIGHT TRANSPORTATION INC. is a short to medium-haul dry van truckload carrier operating in the western region of the United States. Co. transports general commodities including consumer goods packaged foodstuffs paper products beverage containers and imported and exported commodities. Knight Transportation Inc. has a market cap of $1.64 billion; its shares were traded at around $19.09 with a P/E ratio of 31.61 and P/S ratio of 2.23. The dividend yield of Knight Transportation Inc. stocks is 0.8%.
Reduced: AES Corp. The (AES, Financial)
Chuck Akre reduced to his holdings in AES Corp. The by 69.91%. His sale prices were between $17.06 and $20.12, with an estimated average price of $18.7. The impact to his portfolio due to this sale was -0.41%. Chuck Akre still held 437,390 shares as of 06/30/2008.
AES Corporation and its subsidiaries and affiliates are a global power company committed to serving the world's needs for electricity in a socially responsible way. AES's electricity generation business consists of sales to wholesale customers for further resale to end users. AES also sells electricity directly to end users such as commercial industrial governmental and residential customers through its distribution business. AES Corp. The has a market cap of $10.31 billion; its shares were traded at around $15.32 with a P/E ratio of 8.35 and P/S ratio of 0.66.
Sold Out: Lehman Brothers Holdings Inc. (LEH, Financial)
Chuck Akre sold out his holdings in Lehman Brothers Holdings Inc.. His sale prices were between $22.07 and $46.45, with an estimated average price of $37.1. The impact to his portfolio due to this sale was less than 0.01%.
Lehman Brothers is a global investment banks serving institutional corporate government and high-net-worth individual clients and customers. The company's worldwide headquarters in New York and regional headquarters in London and Tokyo are complemented by offices in additional locations in the United States Europe the Middle East Latin America and the Asia Pacific region. The company is engaged primarily in providing financial services. Other businesses in which the company is engaged represent less than 10 percent of consolidated assets revenues or pre-tax income. Lehman Brothers Holdings Inc. has a market cap of $11.23 billion; its shares were traded at around $16.17 with P/S ratio of 0.98. The dividend yield of Lehman Brothers Holdings Inc. stocks is 4%.
Sold Out: CSK Auto Corp. (CAO, Financial)
Chuck Akre sold out his holdings in CSK Auto Corp.. His sale prices were between $10.69 and $12.01, with an estimated average price of $11.6. The impact to his portfolio due to this sale was less than 0.01%.
CSK Auto Corporation is the largest retailer of automotive parts and accessories in the Western United States and one of the largest retailers of such products in the United States. They offer a broad selection of national brand name and private label automotive products for domestic and imported cars vans and light trucks. Products include new and remanufactured automotive replacement parts maintenance items and accessories and are sold under three brand names: Checker Auto Parts Schuck's Auto Supply and Kragen Auto Parts. CSK Auto Corp. has a market cap of $ million; its shares were traded at around $10.78 .
Sold Out: Hilb Rogal & Hobbs Company (HRH)
Chuck Akre sold out his holdings in Hilb Rogal & Hobbs Company. His sale prices were between $28.07 and $44.39, with an estimated average price of $33.5. The impact to his portfolio due to this sale was less than 0.01%.
Hilb Rogal & Hobbs Company is the nation's seventh largest insurance and risk management intermediary. With offices located throughout the United States HRH assists clients in managing their risks in areas such as property and casualty employee benefits and many other areas of specialized exposure. Hilb Rogal & Hobbs Company has a market cap of $1.61 billion; its shares were traded at around $44.29 with a P/E ratio of 34.49 and P/S ratio of 1.96. The dividend yield of Hilb Rogal & Hobbs Company stocks is 1.3%.
Sold Out: Freddie Mac (FRE)
Chuck Akre sold out his holdings in Freddie Mac. His sale prices were between $17.85 and $27.62, with an estimated average price of $24.6. The impact to his portfolio due to this sale was less than 0.01%.
Freddie Mac is a stockholder-owned corporation that supports homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities which it finances primarily by issuing mortgage passthrough securities and debt instruments in the capital markets. (Company Press Release) Freddie Mac has a market cap of $3.79 billion; its shares were traded at around $5.85 . The dividend yield of Freddie Mac stocks is 12.1%.
