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Wallace Weitz Weitz Investment Management

AUM $1.44B
1-Year Est. Return 3.53%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+5.06%
1 Year Est. Return
+3.53%
3 Year Est. Return
+36.06%
5 Year Est. Return
+41.29%
10 Year Est. Return
+224.48%
AUM
$2.66B
AUM Growth
-$51.1M
Cap. Flow
-$212M
Cap. Flow %
-7.99%
Top 10 Hldgs %
48.28%
Holding
72
New
4
Increased
19
Reduced
36
Closed
1

Top Buys

Rank Stock Value
1
DISCK
Discovery, Inc. Series C Common Stock
DISCK
+$34.1M
2
ORCL icon
Oracle
ORCL
+$25.5M
3
WFC icon
Wells Fargo
WFC
+$11.9M
4
LBRDK
Liberty Broadband Class C
LBRDK
+$7.49M
5
MA icon
Mastercard
MA
+$6.61M

Top Sells

Rank Stock Value
1
WBD icon
Warner Bros
WBD
+$38.2M
2
MSI icon
Motorola Solutions
MSI
+$33.7M
3
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
+$28.3M
4
ILG
ILG, Inc Common Stock
ILG
+$16.4M
5
BRK.A icon
Berkshire Hathaway Class A
BRK.A
+$14.5M

Sector Composition

Rank Sector Weight
1 Communication Services 32.14%
2 Financials 20.11%
3 Healthcare 14.86%
4 Consumer Discretionary 9.71%
5 Technology 6.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ALSN icon
26
Allison Transmission
ALSN
$11B
$28.6M 1.08%
997,727
-123,320
-11% -$3.48M
PXD
27
DELISTED
Pioneer Natural Resource Co.
PXD
$28.1M 1.06%
151,333
-29,855
-16% -$5.08M
WTW icon
28
Willis Towers Watson
WTW
$31.8B
$27M 1.01%
203,319
-31,695
-13% -$3.95M
NCMI icon
29
National CineMedia
NCMI
$239M
$26.1M 0.98%
177,419
-51,276
-22% -$7.82M
LBRDA
30
DELISTED
Liberty Broadband Class A
LBRDA
$25.6M 0.96%
364,636
-3,952
-1% -$260K
LILAK icon
31
Liberty Latin America Class C
LILAK
$1.64B
$25.1M 0.94%
1,044,502
-76,299
-7% -$2.04M
PX
32
DELISTED
Praxair Inc
PX
$23.9M 0.9%
197,606
+3,480
+2% +$412K
ACN icon
33
Accenture
ACN
$113B
$22.7M 0.85%
186,068
+95
+0.1% +$10.8K
FOSL icon
34
Fossil Group
FOSL
$332M
$22.3M 0.84%
801,746
-90,038
-10% -$2.66M
UPS icon
35
United Parcel Service
UPS
$86.8B
$21.6M 0.81%
197,840
-12,000
-6% -$1.31M
CMCSA icon
36
Comcast
CMCSA
$95.3B
$21.1M 0.79%
636,880
+2,080
+0.3% +$69.2K
MON
37
DELISTED
Monsanto Co
MON
$20.7M 0.78%
202,305
+115
+0.1% +$12.1K
MSI icon
38
Motorola Solutions
MSI
$79.5B
$18.2M 0.69%
239,010
-461,295
-66% -$33.7M
XOXO
39
DELISTED
Xo Group Inc
XOXO
$18.1M 0.68%
936,783
-168,315
-15% -$3.1M
FWONK icon
40
Liberty Media Series C
FWONK
$26.3B
$17M 0.64%
626,469
-434,995
-41% -$9.51M
DEO icon
41
Diageo
DEO
$52.6B
$15.4M 0.58%
132,495
+130
+0.1% +$14.9K
AVP
42
DELISTED
Avon Products, Inc.
AVP
$14.9M 0.56%
2,640,575
-2,498,860
-49% -$12.5M
LSXMA
43
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$14.6M 0.55%
595,179
-239,105
-29% -$5.81M
MUSA icon
44
Murphy USA
MUSA
$10.5B
$10.7M 0.4%
150,000
-25,000
-14% -$1.87M
MCK icon
45
McKesson
MCK
$100B
$9.69M 0.36%
58,080
+405
+0.7% +$75.5K
LGF
46
DELISTED
Lions Gate Entertainment
LGF
$9.14M 0.34%
457,400
+127,100
+38% +$2.6M
HAL icon
47
Halliburton
HAL
$29.4B
$9.09M 0.34%
202,487
– –
EOG icon
48
EOG Resources
EOG
$80.3B
$8.83M 0.33%
91,270
-75,800
-45% -$6.65M
CCRD
49
DELISTED
CoreCard
CCRD
$8.29M 0.31%
2,270,000
– –
EQC
50
DELISTED
Equity Commonwealth
EQC
$7.74M 0.29%
256,000
-332,000
-56% -$10M
1
2
3

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Wallace Weitz's Q3 2016 Portfolio in Review

As of Q3 2016, Wallace Weitz held 72 positions worth $2.66B, down 1.9% from $2.71B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Wallace Weitz withdrew a net $212M in Q3 2016, closing 1 position and reducing 36 holdings. Its most notable exit was Warner Bros, an estimated $38.2M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 32% of assets, up from 31% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Wallace Weitz opened a new position in CommerceHub, Inc. Series C Common Stock worth $3.07M.

  • Wallace Weitz's largest Q3 2016 buy was CommerceHub, Inc. Series C Common Stock: 192,780 shares worth $3.07M.
  • Wallace Weitz added most to Discovery, Inc. Series C Common Stock in Q3 2016, an estimated $34.1M increase.
  • Wallace Weitz's biggest Q3 2016 reduction was Motorola Solutions, cutting an estimated $33.7M.
  • Wallace Weitz fully exited Warner Bros in Q3 2016, selling an estimated $38.2M.
  • Wallace Weitz's ten largest holdings make up 48% of its $2.66B portfolio in Q3 2016.
  • Wallace Weitz opened 4 new positions and closed 1 in Q3 2016.
  • Wallace Weitz's portfolio value fell 1.9% quarter-over-quarter to $2.66B.

Based on Weitz Investment Management's 13F filing for Q3 2016, filed 14 Nov 2016.