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 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$57.1M |
| 2 |
AGN
Allergan plc
AGN
|
+$31.1M |
| 3 |
LBRDK
Liberty Broadband Class C
LBRDK
|
+$25.5M |
| 4 |
Mastercard
MA
|
+$24M |
| 5 |
Comcast
CMCSA
|
+$17.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
PCP
PRECISION CASTPARTS CORP
PCP
|
+$99.5M |
| 2 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$46.4M |
| 3 |
ADT
ADT Corp
ADT
|
+$42.1M |
| 4 |
Range Resources
RRC
|
+$23.3M |
| 5 |
MON
Monsanto Co
MON
|
+$17.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 31.7% |
| 2 | Financials | 20.15% |
| 3 | Healthcare | 12.06% |
| 4 | Consumer Discretionary | 10.65% |
| 5 | Technology | 6.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
LVNTA
26
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $37.9M | 1.33% |
969,900
+23,044
| +2% | +$874K |
|
27
National CineMedia
NCMI
$239M
| $34.6M | 1.21% |
227,663
| – | – |
|
|
FLIR
28
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
| $34.4M | 1.21% |
1,044,795
-24,320
| -2% | -$751K |
|
29
Allison Transmission
ALSN
$11B
| $31.8M | 1.12% |
1,179,987
-16,435
| -1% | -$399K |
|
30
Brown & Brown
BRO
$24.4B
| $30.5M | 1.07% |
1,705,486
-391,234
| -19% | -$6.28M |
|
31
Willis Towers Watson
WTW
$31.8B
| $28.2M | 0.99% |
237,378
-2,709
| -1% | -$312K |
|
|
AVP
32
DELISTED
Avon Products, Inc.
AVP
| $27.8M | 0.97% |
5,775,120
-1,243,100
| -18% | -$4.44M |
|
|
ENDP
33
DELISTED
Endo International plc
ENDP
| $27.3M | 0.96% |
968,093
+283,170
| +41% | +$13.4M |
|
|
LBRDA
34
DELISTED
Liberty Broadband Class A
LBRDA
| $23.5M | 0.82% |
404,504
+2,153
| +0.5% | +$109K |
|
35
Liberty Media Series A
FWONA
$24.2B
| $23.3M | 0.82% |
898,011
-23,412
| -3% | -$568K |
|
|
DISCK
36
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $22.5M | 0.79% |
834,644
-16,765
| -2% | -$435K |
|
|
PX
37
DELISTED
Praxair Inc
PX
| $22.2M | 0.78% |
194,126
+31,440
| +19% | +$3.28M |
|
38
United Parcel Service
UPS
$86.8B
| $22.1M | 0.78% |
209,840
+211
| +0.1% | +$20.5K |
|
39
Accenture
ACN
$113B
| $21.5M | 0.75% |
185,973
-24,572
| -12% | -$2.52M |
|
40
EOG Resources
EOG
$80.3B
| $20M | 0.7% |
274,920
-25,160
| -8% | -$1.74M |
|
41
Omnicom Group
OMC
$24B
| $19.9M | 0.7% |
238,783
-44,490
| -16% | -$3.35M |
|
|
42
Comcast
CMCSA
$95.3B
| $19.4M | 0.68% |
634,800
+621,800
| +4,783% | +$17.8M |
|
|
XOXO
43
DELISTED
Xo Group Inc
XOXO
| $18.1M | 0.64% |
1,129,198
-297,760
| -21% | -$4.47M |
|
|
MON
44
DELISTED
Monsanto Co
MON
| $17.7M | 0.62% |
202,190
-197,648
| -49% | -$17.8M |
|
45
Oracle
ORCL
$422B
| $16.7M | 0.59% |
408,323
-19,175
| -4% | -$710K |
|
|
EQC
46
DELISTED
Equity Commonwealth
EQC
| $16.6M | 0.58% |
588,000
| – | – |
|
47
Diageo
DEO
$52.6B
| $14.3M | 0.5% |
132,365
+100
| +0.1% | +$10.6K |
|
48
Liberty Latin America Class C
LILAK
$1.64B
| $11M | 0.39% |
340,565
+20,735
| +6% | +$660K |
|
|
TFCF
49
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $10.7M | 0.37% |
378,788
-1,724,688
| -82% | -$46.4M |
|
50
Murphy USA
MUSA
$10.5B
| $9.53M | 0.33% |
155,000
| – | – |
|
Similar funds
Wallace Weitz's Q1 2016 Portfolio in Review
As of Q1 2016, Wallace Weitz held 73 positions worth $2.85B, down 2.9% from $2.94B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Wallace Weitz withdrew a net $155M in Q1 2016, closing 8 positions and reducing 32 holdings. Its most notable exit was PRECISION CASTPARTS CORP, an estimated $99.5M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 32% of assets, up from 29% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Wallace Weitz opened a new position in McKesson worth $9.07M.
- Wallace Weitz's largest Q1 2016 buy was McKesson: 57,675 shares worth $9.07M.
- Wallace Weitz added most to Twenty-First Century Fox, Inc. Class A in Q1 2016, an estimated $57.1M increase.
- Wallace Weitz's biggest Q1 2016 reduction was Twenty-First Century Fox, Inc. Class B, cutting an estimated $46.4M.
- Wallace Weitz fully exited PRECISION CASTPARTS CORP in Q1 2016, selling an estimated $99.5M.
- Wallace Weitz's ten largest holdings make up 46% of its $2.85B portfolio in Q1 2016.
- Wallace Weitz opened 5 new positions and closed 8 in Q1 2016.
- Wallace Weitz's portfolio value fell 2.9% quarter-over-quarter to $2.85B.
Based on Weitz Investment Management's 13F filing for Q1 2016, filed 13 May 2016.