Akre Focus Fund Retail Class 

The fund's main goal is to generate significant capital appreciation over a long timeframe. It primarily allocates its assets to the securities of businesses that are publicly traded on U.S. stock exchanges. The core of its holdings consists of common shares issued by companies, irrespective of their market valuation. Additionally, the fund has the option to invest in various other equity-related instruments. These may include preferred stocks, warrants, options contracts, and other holdings analogous to equity, such as interests in partnerships, limited liability companies, business trusts, and Real Estate Investment Trusts (REITs). It is also permitted to acquire securities that are convertible into common stock. This investment vehicle is structured as non-diversified.