AKRE CAPITAL MANAGEMENT LLC Information

2 WEST MARSHALL STREET, MIDDLEBURG, Virginia, 20117, (540) 687-3880

Report Date: 12/31/2013

Position Statistics

Total Positions 40
New Positions 5
Increased Positions 17
Decreased Positions 8
Positions with Activity 25
Sold Out Positions 1
Total Mkt Value (in $ millions) 2,730

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 1.93%
Capital Goods 11.75%
Conglomerates
Consumer Cyclical 4.45%
Consumer/Non-Cyclical
Energy 0.06%
Financial 37.41%
Healthcare
Services 38.03%
Technology 4.64%
Transportation 0.05%
Utilities 1.68%

40 Positions as of 12/31/2013

Company Class Value of Shares ($1,000s) Change in Value ($1,000s) Change (%) ▲ Shares Held
NUSTAR ENERGY LP UNIT COM -57,419 Sold Out 0
DIRECTV COM 38,370 -92,088 (70.59) 500,000
NUSTAR GP HOLDINGS LLC UNIT RESTG LLC 815 -1,186 (59.28) 23,580
CSX CORP COM 1,408 -32 (2.24) 49,917
HARTFORD FINL SVCS GROUP INC COM 11,069 -25 (0.23) 319,074
MASTERCARD INC CL A 295,484 -89 (0.03) 3,964,630
O REILLY AUTOMOTIVE INC NEW COM 121,512 -35 (0.03) 821,303
MOODYS CORP COM 277,362 -45 (0.02) 3,480,950
ANSYS INC COM 3,738 New 50,000
ARLINGTON ASSET INVT CORP CL A NEW 259 259 New 10,000
BANK OF AMERICA CORPORATION WT EXP 011619 5,565 New 700,000
BERKSHIRE HATHAWAY INC DEL CL A 11,252 New 59
CARMAX INC COM 4,351 4,351 New 100,000
DANAHER CORP DEL COM 20,594 20,594 New 280,000
DIAMOND HILL INVESTMENT GROUP COM NEW 17,600 New 145,500
DISCOVERY COMMUNICATNS NEW COM SER C 29,036 New 400,000
ENSTAR GROUP LIMITED SHS 66,591 New 498,476
FACTSET RESH SYS INC COM 13,736 New 130,000
LAMAR ADVERTISING CO CL A 3,493 3,493 New 67,100
LEUCADIA NATL CORP COM 52,660 New 2,000,000