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Charles Akre’s New Stock Picks

Charles Akre founded Akre Capital in 1989. The fund uses a bottom-up approach of investing. Being value-oriented, Akre Capital invests primarily in undervalued companies with good business models, good management, and high rates of return. Charles Akre is very selective when it comes to investing. Majority of Akre Capital’s equity portfolio is made up of companies belonging to the services, technology, and financial sector. Akre is a conservative investor.

During the second quarter of 2011, Charles Akre initiated 3 new positions in Assured Guaranty (AGO), Diamond Hill Investment (DHIL), Primo Water Corp (PRMW). These are all relatively small positions though. AGO lost 29 % since the end of June. DHIL declined 7% but outperformed the market by 3.5 percentage points. Charles Akre’s worst performing new stock pick is PRMW which lost 67% in just 1.5 months. Overall Charles Akre’s stock picks lost 8.7% since June, vs. 10.5% loss for the SPY. Here is Akre Capital’s portfolio activity during the second quarter: