AKRE targets US companies of any market size, with high shareholder returns, trustworthy management, and strong reinvestment opportunities. The fund aims to purchase these stocks at modest to reasonable valuations based on business quality and growth potential. Investments also include preferred stocks, warrants, options, cash equivalents, and other equity-like instruments, such as partnership interests, LLCs, business trust shares and rights, REITs, and convertibles. Additionally, up to 35% of assets can be allocated to ADRs, EDRs, GDRs, and foreign securities. The fund may allocate up to 33% of its assets to securities lending. Positions are sold when securities are overvalued, the investment thesis is invalid, or more attractive opportunities arise. Prior to October 27, 2025, AKRE was a mutual fund called Akre Focus Fund before converting to an ETF structure, starting with $11.8 billion.