Canal Capital Management adds Akre Focus ETF
Key Points
The manager bought over 175,000 shares.
The position had an $11.5 million value at year end.
The ETF represented 1.6% of the firm's 13F reportable assets under management.
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On Jan. 6,, Canal Capital Management, LLC disclosed a new position in the Akre Focus ETF (NYSE:AKRE), acquiring 175,232 shares in the fourth quarter, worth an estimated $11.5 million at the end of the period. It accounted for 1.6% of its assets under management.
What happened
According to an SEC filing dated Jan. 6, Canal Capital Management, LLC reported a new position in Akre Focus ETF (NYSE:AKRE), acquiring 175,232 shares. The estimated transaction value was $11.5 million based on the quarter’s average share price.
What else to know
- Top holdings after the filing:
- NASDAQ: ODFL: $58.79 million (8.3% of AUM)
- NASDAQ: AAPL: $34.81 million (4.9% of AUM)
- NASDAQ: MSFT: $26.07 million (3.7% of AUM)
- NYSEMKT: LQD: $20.15 million (2.9% of AUM)
- NASDAQ: AVGO: $19.06 million (2.7% of AUM)
- As of Jan. 6, shares of AKRE were priced at $66.59.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close January 6, 2026) | $66.59 |
| Market capitalization | $9.96 billion |
| Sector | Financial Services |
| Industry | Asset Management |
Company snapshot
Akre Focus ETF pursues a disciplined investment approach, emphasizing companies with high returns on capital, robust reinvestment opportunities, and shareholder-oriented management. The fund’s strategy involves acquiring securities at reasonable valuations and maintaining positions until the investment thesis changes or more attractive opportunities are identified. Its competitive advantage lies in a selective, research-driven process and the flexibility to invest across the capital structure and select foreign markets.
What this transaction means for investors
Canal Capital Management made a significant investment in the Akre Focus ETF. Initiating a new position, it accounted for 1.6% of the firm's equity assets under management at the end of the fourth quarter.
The exchange-traded fund (ETF) has a concentrated portfolio. Its 10 largest equity holdings account for over 81% of its assets. These include Mastercard (NYSE: MA), Brookfield (NYSE: BN), and KKR (NYSE: KKR).
Actively managed, the ETF has an expense ratio of 0.98%. All else equal, the lower the expense ratio, the higher the shareholder's return.
In 2025, the ETF's return badly lagged its benchmark, the S&P 500 index. During that time, the ETF returned 1.1% compared to the index's 17.9%. Over 10 years, Akre Focus ETF's 13.8% total return trailed the S&P 500 by more than 1 percentage point.
Glossary
Assets under management (AUM): The total market value of all financial assets a firm manages on behalf of clients.
13F reportable assets: Securities that institutional investment managers must disclose quarterly to the Securities and Exchange Commission (SEC) if their holdings exceed $100 million.
Quarter-end position: The value or number of shares held in an investment at the end of a financial quarter.
ETF (exchange-traded fund): An investment fund traded on stock exchanges, holding a basket of assets like stocks or bonds.
Concentrated investment strategy: An approach focusing investments in a small number of securities rather than diversifying widely.
Capital structure: The mix of a company’s debt, equity, and other financing sources used to fund operations and growth.
Convertible securities: Financial instruments, like bonds or preferred shares, that can be converted into common stock.
REIT (real estate investment trust): A company that owns, operates, or finances income-producing real estate and trades like a stock.
Warrants: Financial contracts giving the holder the right to buy a company’s stock at a specific price before expiration.
Alpha: A measure of an investment’s performance compared to a market benchmark, showing value added or lost.
Institutional investors: Organizations, such as pension funds or asset managers, that invest large sums of money on behalf of others.
Investment thesis: The underlying rationale or strategy for making a particular investment, based on analysis and expectations.
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Lawrence Rothman, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Microsoft, and Old Dominion Freight Line. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
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