In this article we discuss the billionaire Chuck Akre’s top 5 stock holdings. If you want to read our detailed analysis of these software companies, go directly to Chuck Akre’s Top 10 Stock Holdings.
At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best hydrogen fuel cell stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Keeping this in mind let’s take a look at the Chuck Akre’s top 5 stock picks:
5. CoStar Group, Inc. (NASDAQ: CSGP)
Ranking 5th on the list of billionaire Chuck Akre’s top 10 stock picks list is Costar. As per the latest 13F reporting period, Akre boosted his holding in CoStar Group, Inc. (NASDAQ: CSGP) by 0.75%, and it was valued at $892.8 million. Initially, he initiated a position in Costar in the fourth quarter of 2019 with 250k shares and kept adding shares until reaching 965.96k shares, accounting for nearly 6.03% of his total portfolio. The company’s share price increased by nearly 29% over the last twelve months.
CoStar provides online marketplace information and analytics for the United States’ and the United Kingdom’s commercial real estate industry. Their wide array of digital marketplace and information center lies on three pillars that provide a substantial marketplace: comprehensive national databases, a large research department, and many participating organizations.
Last quarter, CoStar Group announced the acquisition of Homesnap Inc., which provides residential real estate agents and consumers with an intuitive technology facilitating the buying and selling activity. The all-cash deal worth $250 million is expected to boost CoStar Group revenues. Active agents using the platform are expected to reach 400K compared to 100K before the acquisition. Moreover, the number of property listings across the United States will increase to 2.6 million compared with 1.35 million listings.
As per CoStar Group founder and CEO Andy Florance:
“Adding Homesnap to CoStar Group’s network provides significant complementary value to our existing arsenal of broker and agent-centric tools, directly benefiting the entire industry, we share a common goal of strengthening connections that drive the real estate industry forward and are excited that regulatory review was completed so rapidly, allowing us to close this transaction quickly.”
