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 |
Booking.com
BKNG
|
+$24M |
| 2 |
JPMorgan Chase
JPM
|
+$23.4M |
| 3 |
Box
BOX
|
+$21.7M |
| 4 |
CarMax
KMX
|
+$15.5M |
| 5 |
RWT
Redwood Trust
RWT
|
+$10.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AGN
Allergan plc
AGN
|
+$51.2M |
| 2 |
LBRDK
Liberty Broadband Class C
LBRDK
|
+$34.8M |
| 3 |
Oracle
ORCL
|
+$22.5M |
| 4 |
Mohawk Industries
MHK
|
+$15.9M |
| 5 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$14M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 27.04% |
| 2 | Communication Services | 25.66% |
| 3 | Technology | 15.53% |
| 4 | Healthcare | 8.54% |
| 5 | Consumer Discretionary | 7.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Marvell Technology
MRVL
$213B
| $33.3M | 1.38% |
1,675,300
+31,300
| +2% | +$585K |
|
27
Liberty Latin America Class C
LILAK
$1.64B
| $30.3M | 1.25% |
1,819,355
-467
| -0% | -$7.28K |
|
28
Linde
LIN
$225B
| $29.9M | 1.24% |
170,000
-1,376
| -0.8% | -$229K |
|
29
Dollar Tree
DLTR
$25.3B
| $28.9M | 1.2% |
275,000
-67,700
| -20% | -$6.65M |
|
30
Thermo Fisher Scientific
TMO
$233B
| $28.7M | 1.19% |
105,000
-873
| -0.8% | -$217K |
|
31
Amazon
AMZN
$2.79T
| $27.6M | 1.14% |
310,000
+33,660
| +12% | +$2.8M |
|
32
Analog Devices
ADI
$182B
| $26.8M | 1.11% |
255,000
+13,175
| +5% | +$1.32M |
|
|
QVCGA
33
DELISTED
QVC Group Inc Series A
QVCGA
| $26.4M | 1.09% |
34,082
-31
| -0.1% | -$29.9K |
|
34
Danaher
DHR
$154B
| $26.4M | 1.09% |
225,600
+32,486
| +17% | +$3.33M |
|
|
35
JPMorgan Chase
JPM
$935B
| $24.5M | 1.01% |
242,000
+227,000
| +1,513% | +$23.4M |
|
36
Diageo
DEO
$52.6B
| $21.3M | 0.88% |
130,000
| – | – |
|
37
Axalta
AXTA
$7.75B
| $21.2M | 0.88% |
840,575
+23,900
| +3% | +$615K |
|
|
38
Box
BOX
$4.56B
| $20.2M | 0.84% |
+1,046,400
| New | +$21.7M |
|
|
GLIBA
39
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
| $20.1M | 0.83% |
362,000
-23,000
| -6% | -$1.16M |
|
40
Accenture
ACN
$113B
| $18.1M | 0.75% |
103,000
-864
| -0.8% | -$136K |
|
41
Guidewire Software
GWRE
$15.8B
| $18M | 0.74% |
185,150
+75,150
| +68% | +$6.72M |
|
|
LBRDA
42
DELISTED
Liberty Broadband Class A
LBRDA
| $17.9M | 0.74% |
195,000
-110,000
| -36% | -$9.35M |
|
43
Stanley Black & Decker
SWK
$15.1B
| $16.1M | 0.67% |
118,295
-300
| -0.3% | -$39.1K |
|
|
LSXMA
44
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $15.1M | 0.62% |
546,734
| – | – |
|
45
Martin Marietta Materials
MLM
$32.1B
| $13.3M | 0.55% |
66,030
-1,100
| -2% | -$205K |
|
|
WAIR
46
DELISTED
WESCO Aircraft Holdings Inc.
WAIR
| $13.2M | 0.55% |
1,500,000
-200,000
| -12% | -$1.65M |
|
47
Markel Group
MKL
$22.2B
| $13M | 0.54% |
13,000
+3,000
| +30% | +$3.05M |
|
|
PRSP
48
DELISTED
Perspecta Inc. Common Stock
PRSP
| $10.7M | 0.44% |
530,000
+50,000
| +10% | +$1.01M |
|
49
Liberty Media Series C
FWONK
$26.3B
| $9.64M | 0.4% |
284,429
| – | – |
|
|
EQC
50
DELISTED
Equity Commonwealth
EQC
| $8.17M | 0.34% |
250,000
| – | – |
|
Similar funds
Wallace Weitz's Q1 2019 Portfolio in Review
As of Q1 2019, Wallace Weitz held 84 positions worth $2.42B, up 11% from $2.18B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Wallace Weitz withdrew a net $135M in Q1 2019, closing 9 positions and reducing 32 holdings. Its most notable exit was Allergan plc, an estimated $51.2M position sold in full.
By sector, the portfolio is most concentrated in Financials at 27% of assets, down from 28% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Wallace Weitz opened a new position in Box worth $20.2M.
- Wallace Weitz's largest Q1 2019 buy was Box: 1,046,400 shares worth $20.2M.
- Wallace Weitz added most to Booking.com in Q1 2019, an estimated $24M increase.
- Wallace Weitz's biggest Q1 2019 reduction was Liberty Broadband Class C, cutting an estimated $34.8M.
- Wallace Weitz fully exited Allergan plc in Q1 2019, selling an estimated $51.2M.
- Wallace Weitz's ten largest holdings make up 46% of its $2.42B portfolio in Q1 2019.
- Wallace Weitz opened 2 new positions and closed 9 in Q1 2019.
- Wallace Weitz's portfolio value rose 11% quarter-over-quarter to $2.42B.
Based on Weitz Investment Management's 13F filing for Q1 2019, filed 14 May 2019.