Wallace Weitz Weitz Investment Management
Wallace Weitz founded Weitz Investment Management and built a long career as a patient, research-driven value investor. The firm is known for concentrated equity portfolios, conservative balance-sheet analysis, and multi-year holding periods. Weitz’s letters and process notes are frequently recommended to investors learning classic U.S. value management.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Oracle
ORCL
|
+$59.9M |
| 2 |
ENDP
Endo International plc
ENDP
|
+$25.4M |
| 3 |
QVCGA
QVC Group Inc Series A
QVCGA
|
+$25.1M |
| 4 |
Labcorp
LH
|
+$22.1M |
| 5 |
Liberty Global Class C
LBTYK
|
+$16.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Aon
AON
|
+$79.3M |
| 2 |
OUTR
OUTERWALL INC
OUTR
|
+$37.9M |
| 3 |
Bausch Health
BHC
|
+$21.2M |
| 4 |
United Parcel Service
UPS
|
+$16M |
| 5 |
CVS Health
CVS
|
+$12.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.35% |
| 2 | Communication Services | 15.93% |
| 3 | Healthcare | 14.04% |
| 4 | Consumer Discretionary | 13.77% |
| 5 | Financials | 12.27% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
XOXO
26
DELISTED
Xo Group Inc
XOXO
| $39.4M | 1.32% |
2,652,403
+32,915
| +1% | +$466K |
|
|
SWN
27
DELISTED
Southwestern Energy Company
SWN
| $37.6M | 1.26% |
955,440
-172,760
| -15% | -$6.49M |
|
28
National CineMedia
NCMI
$239M
| $35.6M | 1.19% |
178,200
-6,990
| -4% | -$1.3M |
|
29
HP
HPQ
$27.2B
| $30.6M | 1.03% |
2,411,256
+4,404
| +0.2% | +$50.6K |
|
30
Fidelity National Information Services
FIS
$21.3B
| $30.6M | 1.03% |
569,890
+1,580
| +0.3% | +$77.9K |
|
|
ENDP
31
DELISTED
Endo International plc
ENDP
| $30.1M | 1.01% |
+445,920
| New | +$25.4M |
|
32
Walt Disney
DIS
$186B
| $27.6M | 0.93% |
361,550
| – | – |
|
|
CMLS
33
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
| $25.5M | 0.85% |
412,500
| – | – |
|
|
34
United Parcel Service
UPS
$86.8B
| $24.6M | 0.82% |
234,150
-162,850
| -41% | -$16M |
|
35
CACI
CACI
$14.3B
| $23M | 0.77% |
314,400
| – | – |
|
36
World Kinect Corp
WKC
$1.84B
| $21.6M | 0.72% |
500,000
+10,000
| +2% | +$394K |
|
37
Accenture
ACN
$113B
| $18.6M | 0.62% |
226,400
| – | – |
|
38
Omnicom Group
OMC
$24B
| $18.2M | 0.61% |
244,200
-75,500
| -24% | -$5.19M |
|
39
Diageo
DEO
$52.6B
| $16.8M | 0.56% |
126,850
| – | – |
|
40
Brown & Brown
BRO
$24.4B
| $16.5M | 0.55% |
1,053,436
+332,442
| +46% | +$5.27M |
|
41
ProShares Short 20+ Year Treasury ETF
TBF
$107M
| $16.5M | 0.55% |
500,000
+170,000
| +52% | +$5.49M |
|
|
PX
42
DELISTED
Praxair Inc
PX
| $16.3M | 0.55% |
125,700
| – | – |
|
|
ADT
43
DELISTED
ADT Corp
ADT
| $15.2M | 0.51% |
+375,000
| New | +$15.4M |
|
|
AVP
44
DELISTED
Avon Products, Inc.
AVP
| $12.6M | 0.42% |
730,000
+715,000
| +4,767% | +$13.4M |
|
45
FTI Consulting
FCN
$4.3B
| $12.4M | 0.41% |
300,266
-110,236
| -27% | -$4.59M |
|
46
Berkshire Hathaway Class A
BRK.A
$1.06T
| $12.3M | 0.41% |
69
| – | – |
|
47
CNA Financial
CNA
$13.3B
| $9.87M | 0.33% |
230,000
| – | – |
|
48
ACI Worldwide
ACIW
$5.24B
| $9.81M | 0.33% |
452,832
+300
| +0.1% | +$5.95K |
|
|
SAPE
49
DELISTED
SAPIENT CORP
SAPE
| $9.55M | 0.32% |
550,000
-121,000
| -18% | -$1.92M |
|
50
Liquidity Services
LQDT
$1.36B
| $7.7M | 0.26% |
+340,000
| New | +$8.56M |
|
Similar funds
Wallace Weitz's Q4 2013 Portfolio in Review
As of Q4 2013, Wallace Weitz held 63 positions worth $2.98B, up 12% from $2.66B the previous quarter. Its ten largest holdings account for 44% of the portfolio.
Wallace Weitz's Q4 2013 filing shows 3 new, 23 increased, 20 reduced and 1 closed positions. Its largest new stake was Endo International plc: 445,920 shares worth $30.1M. The largest sale was Aon, an estimated $79.3M.
By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 18% a quarter earlier, followed by Communication Services and Healthcare.
- Wallace Weitz's largest Q4 2013 buy was Endo International plc: 445,920 shares worth $30.1M.
- Wallace Weitz added most to Oracle in Q4 2013, an estimated $59.9M increase.
- Wallace Weitz's biggest Q4 2013 reduction was Aon, cutting an estimated $79.3M.
- Wallace Weitz fully exited OMNICARE INC in Q4 2013, selling an estimated $6.31M.
- Wallace Weitz's ten largest holdings make up 44% of its $2.98B portfolio in Q4 2013.
- Wallace Weitz opened 3 new positions and closed 1 in Q4 2013.
- Wallace Weitz's portfolio value rose 12% quarter-over-quarter to $2.98B.
Based on Weitz Investment Management's 13F filing for Q4 2013, filed 13 Feb 2014.