13F-HR 1 a13f-hr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F Cover Page Report for the Calendar Year or Quarter Ended: September 30, 2010 Check here if Amendment: |_|; Amendment Number: ____ This Amendment (Check only one): |_| is a restatement |_| adds new holding entries. Institutional Manager Filing this Report: Name: Akre Capital Management, LLC Address: 2 West Marshall Street P.O. Box 998 Middleburg, Virginia 20118 13F File Number: 028-06599 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Andrew Schaefer Title: Chief Operating Officer Phone: (540) 687-8928 Signature, Place and Date of Signing: /s/ Andrew Schaefer Middleburg, VA November 12, 2010 ----------------------- -------------------------- ---------------------- [Signature] [City, State] [Date] Report Type: (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report). [_] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting managers(s).) [_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: None Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 38 Form 13F Information Table Value Total: $395,232 (x1000) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1. 028-13109 Braddock Partners, LP Akre Capital Management, LLC FORM 13F 30-Sept-10 COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 TITLE VALUE SHRS OR SH/ PUT/ INVESMENT OTHER VOTING AUTHORITY NAME OF ISSUER OF CLASS CUSIP (X1000) PRN AMT PRN CALL DISCRETION MGRS SOLE SHARED NONE 99 CENTS ONLY STORES COM 65440K106 4,243 224,741 SH SOLE NONE 224,741 AMERICAN TOWER CORP CL A 029912201 54,943 1,071,849 SH SOLE NONE 1,071,849 ANNALY CAP MGMT INC COM 035710409 389 22,100 SH SOLE NONE 22,100 BECTON DICKINSON & CO COM 075887109 3,705 50,000 SH SOLE NONE 50,000 BERKLEY W R CORP COM 084423102 2,707 100,000 SH SOLE NONE 100,000 BERKSHIRE HATHAWAY INC DEL CL A 084670108 9,586 77 SH SOLE NONE 77 BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 6,945 84,000 SH SOLE NONE 84,000 CARMAX INC COM 143130102 13,669 490,620 SH SOLE NONE 490,620 CARTER INC COM 146229109 2,633 100,000 SH SOLE NONE 100,000 CSX CORP COM 126408103 983 17,768 SH SOLE NONE 17,768 DOLLAR TREE INC COM 256746108 29,782 610,792 SH SOLE NONE 610,792 ENSCO PLC SPONSORED ADR 29358Q109 2,236 50,000 SH SOLE NONE 50,000 ENSTAR GROUP LIMITED SHS G3075P101 28,722 395,620 SH SOLE NONE 395,620 ENTERPRISE GP HLDGS L P UNIT LP INT 293716106 517 8,805 SH SOLE NONE 8,805 ENTERTAINMENT PPTYS TR COM SH BEN INT 29380T105 218 5,050 SH SOLE NONE 5,050 EXXON MOBIL CORP COM 30231G102 275 4,453 SH SOLE NONE 4,453 FACTSET RESH SYS INC COM 303075105 13,305 164,000 SH SOLE NONE 164,000 FOX CHASE BANCORP INC NEW COM 35137T108 946 100,000 SH SOLE NONE 100,000 FRANKLIN STREET PPTYS CORP COM 35471R106 248 20,000 SH SOLE NONE 20,000 GREENLIGHT CAPITAL RE LTD CLASS A G4095J109 1,251 50,000 SH SOLE NONE 50,000 HARTFORD FINL SVCS GROUP INC DEP CONV PFD 416515708 17,910 755,045 SH SOLE NONE 755,045 LAMAR ADVERTISING CO CL A 512815101 39,403 1,238,320 SH SOLE NONE 1,238,320 MARKEL CORP COM 570535104 39,661 115,096 SH SOLE NONE 115,096 MASTERCARD INC CL A 57636Q104 13,440 60,000 SH SOLE NONE 60,000 MIDDLEBURG FINANCIAL CORP COM 596094102 1,891 134,280 SH SOLE NONE 134,280 MSCI INC CL A 55354G100 4,981 150,000 SH SOLE NONE 150,000 NUSTAR GP HOLDINGS LLC UNIT RESTG LLC 67059L102 452 13,340 SH SOLE NONE 13,340 O REILLY AUTOMOTIVE INC COM 686091109 25,152 472,781 SH SOLE NONE 472,781 OPTIONSXPRESS HLDGS INC COM 684010101 6,144 400,000 SH SOLE NONE 400,000 PENN NATL GAMING INC COM 707569109 8,575 289,608 SH SOLE NONE 289,608 REALPAGE INC COM 75606N109 477 25,000 SH SOLE NONE 25,000 ROSS STORES INC COM 778296103 26,732 489,055 SH SOLE NONE 489,055 PRICE T ROWE GROUP INC COM 74144T108 4,411 88,100 SH SOLE NONE 88,100 TD AMERITRADE HLDG CORP COM 87236Y108 6,460 400,000 SH SOLE NONE 400,000 TJX COS INC NEW COM 872540109 10,421 233,500 SH SOLE NONE 233,500 TRADESTATION GROUP INC COM 89267P105 2,665 405,000 SH SOLE NONE 405,000 WHITE RIVER CAPITAL INC COM 96445P105 1,540 93,273 SH SOLE NONE 93,273 WMS INDS INC COM 929297109 7,614 200,000 SH SOLE NONE 200,000