AKRE
Akre Focus ETF
stock NYSE ETF

They had a Feb. 6 letter that was out of touch. It was basically a “we are right” letter with very little reflecting on any mistakes they have made. They didn’t cite a single error they had made. I think AKRE management, John Neff, has some sort of endowment effect bias in regard to positions. While some of their holdings are quite exceptional, (Visa, Moody’s) coming out to defend a stock like CCC, seemed odd. CCC intelligence solutions has been a dog since 2022. I sold the etf out of mine and my wife’s portfolios, after reading that Feb. 6 letter. I can just buy the excellent stocks myself, leave the trash like CCC and CSGP behind, and save the 1 percent fee. John is just so anchored in his beliefs about every position. It’s sad this fund used to beat the S&P with creative thought, which has left the Middleburg office.

They had a Feb. 6 letter that was out of touch. It was basically a “we are right” letter with very little reflecting on any mistakes they have made. They didn’t cite a single error they had made. I think AKRE management, John Neff, has some sort of endowment effect bias in regard to positions. While some of their holdings are quite exceptional, (Visa, Moody’s) coming out to defend a stock like CCC, seemed odd. CCC intelligence solutions has been a dog since 2022. I sold the etf out of mine and my wife’s portfolios, after reading that Feb. 6 letter. I can just buy the excellent stocks myself, leave the trash like CCC and CSGP behind, and save the 1 percent fee. John is just so anchored in his beliefs about every position. It’s sad this fund used to beat the S&P with creative thought, which has left the Middleburg office.