Just saw that Ironwood Investment Counsel dropped $22.55 million into the Akre Focus ETF back in Q4 - making it their fourth biggest holding. That's a pretty bold move if you think about it.

For those not familiar, this fund runs on Chuck Akre's philosophy where they're super selective, holding only 20 stocks. The whole idea is finding businesses with competitive moats, management that actually cares about shareholders, and the ability to reinvest profits at crazy high rates. It's basically the opposite of owning 500 companies.

What caught my attention is their top holdings are mostly megacap tech - Microsoft, Apple, FNDA - but then they're willing to pay 0.98% in fees for this concentrated bet. That's way higher than a basic index fund, but I guess if Chuck Akre's track record is solid, some investors figure it's worth it.

The trade-off is obvious though: with only 20 stocks, if a couple go sideways, you feel it immediately. No hiding in an index. You're basically betting these managers can consistently pick winners. Curious if anyone here holds this or thinks the fees are justified for the active management?