13F-HR 1 d1332979_13f-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, 2012 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: Charles T. Akre Title: Managing Member Phone: (540) 687-8928 Signature, Place and Date of Signing: /s/ Charles T. Akre Middleburg, VA November 14, 2012 ----------------------- -------------------------- -------------------- [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: 37 Form 13F Information Table Value Total: $1,279,132 (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 FORM 13F INFORMATION TABLE

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER CLASS CUSIP (X$1000) PRN AMT PRN CALL DISCRETION MNGRS SOLE SHARED NONE American Tower/amt CL A 03027X100 124,581 1,745,074 SH Sole 1,745,074 Apple Inc/aapl COM 037833100 23,419 35,106 SH Sole 35,106 Artio Global/art COM CL A 04315B107 1,862 625,000 SH Sole 625,000 Bank of America/bac COM 060505104 7,064 800,000 SH Sole 800,000 Berks-Hath B/brk.b CL B NEW 084670702 27,652 313,520 SH Sole 313,520 Berksh-Hath A/brk.a CL A 084670108 7,829 59 SH Sole 59 CSX Corporation/csx COM 126408103 1,060 51,061 SH Sole 51,061 Carmax Inc/kmx COM 143130102 14,248 503,474 SH Sole 503,474 Colfax Corp/cfx COM 194014106 7,674 209,280 SH Sole 209,280 Diamond Hill/dhil COM NEW 25264R207 11,157 145,500 SH Sole 145,500 DirecTv/dtv COM 25490A101 52,440 1,000,000 SH Sole 1,000,000 Dollar Tree/dltr COM 256746108 72,984 1,511,366 SH Sole 1,511,366 Enstar/esgr SHS G3075P101 51,164 513,434 SH Sole 513,434 FactSet/fds COM 303075105 12,535 130,000 SH Sole 130,000 Hartford/hig COM 416515104 26,559 1,366,200 SH Sole 1,366,200 LPL Financial/lpla COM 50213H100 42,810 1,500,000 SH Sole 1,500,000 Lamar Advertising/lamr CL A 512815101 23,023 621,348 SH Sole 621,348 Leucadia Nat/luk COM 527288104 38,675 1,700,000 SH Sole 1,700,000 Markel/mkl COM 570535104 91,633 199,858 SH Sole 199,858 Mastercard/ma CL A 57636Q104 154,980 343,270 SH Sole 343,270 Monro Muf-Brake/mnro COM 610236101 14,076 400,000 SH Sole 400,000 Moodys Corp/mco COM 615369105 79,848 1,807,735 SH Sole 1,807,735 O Reilly auto/orly COM 67103H107 69,284 828,559 SH Sole 828,559 Primo Water Corp/prmw COM 74165N105 1,575 1,500,000 SH Sole 1,500,000 Ross Stores/rost COM 778296103 125,855 1,948,522 SH Sole 1,948,522 Sears Hldg/shld COM 812350106 16,647 300,000 SH Sole 300,000 T Rowe Price/trow COM 74144T108 216 3,405 SH Sole 3,405 TD Ameritrade/amtd COM 87236Y108 48,629 3,163,900 SH Sole 3,163,900 TJX Cos/tjx COM 872540109 1,860 41,520 SH Sole 41,520 Verisk Analytics/vrsk COM 92345Y106 32,208 676,500 SH Sole 676,500 Visa/v COM CL A 92826C839 50,010 372,430 SH Sole 372,430 White River Cap/rvr COM 96445P105 2,107 93,273 SH Sole 93,273 Annaly Capital/nly COM 035710409 25,865 1,535,925 SH Sole 1,535,925 Enterprise Products/epd COM 293792107 548 10,232 SH Sole 10,232 Hartford Financial Pfd. DEP CONV PFD 416515708 14,235 745,285 SH Sole 745,285 NuStar GP Holdings/nsh UNIT RESTG LLC 67059L102 349 10,970 SH Sole 10,970 Bank of America *W EXP 01/16/201 060505146 2,471 700,000 SH Sole 700,000