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 |
Markel Group
MKL
|
+$32.2M |
| 2 |
Expedia Group
EXPE
|
+$27.6M |
| 3 |
First Hawaiian
FHB
|
+$4.5M |
| 4 |
Amazon
AMZN
|
+$3.54M |
| 5 |
Vulcan Materials
VMC
|
+$2.72M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Stanley Black & Decker
SWK
|
+$14.1M |
| 2 |
GLIBA
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
|
+$12.9M |
| 3 |
CarMax
KMX
|
+$12.8M |
| 4 |
CCRD
CoreCard
CCRD
|
+$12.3M |
| 5 |
Mastercard
MA
|
+$11.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 29.91% |
| 2 | Communication Services | 24.45% |
| 3 | Technology | 16.17% |
| 4 | Consumer Discretionary | 9% |
| 5 | Healthcare | 7.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Linde
LIN
$225B
| $34.7M | 1.36% |
163,000
| – | – |
|
27
JPMorgan Chase
JPM
$935B
| $33.9M | 1.33% |
243,500
| – | – |
|
28
Liberty Latin America Class C
LILAK
$1.64B
| $31.9M | 1.25% |
1,913,116
+162,685
| +9% | +$2.52M |
|
29
Analog Devices
ADI
$182B
| $31.8M | 1.25% |
267,500
+12,500
| +5% | +$1.41M |
|
|
30
Expedia Group
EXPE
$38.6B
| $31.3M | 1.23% |
289,130
+235,130
| +435% | +$27.6M |
|
31
Danaher
DHR
$154B
| $30.7M | 1.2% |
225,600
| – | – |
|
32
Comcast
CMCSA
$95.3B
| $27.2M | 1.07% |
605,000
| – | – |
|
33
ACI Worldwide
ACIW
$5.24B
| $27.1M | 1.06% |
714,125
+10,000
| +1% | +$341K |
|
34
Box
BOX
$4.56B
| $26.7M | 1.05% |
1,593,100
-50,000
| -3% | -$839K |
|
|
QVCGA
35
DELISTED
QVC Group Inc Series A
QVCGA
| $25.3M | 0.99% |
61,942
+1,299
| +2% | +$585K |
|
36
Axalta
AXTA
$7.75B
| $24.7M | 0.97% |
813,575
| – | – |
|
37
LKQ Corp
LKQ
$6.52B
| $24.6M | 0.97% |
689,900
-61,000
| -8% | -$2.07M |
|
|
LBRDA
38
DELISTED
Liberty Broadband Class A
LBRDA
| $24M | 0.94% |
192,500
| – | – |
|
39
Guidewire Software
GWRE
$15.8B
| $23.8M | 0.93% |
216,375
-22,500
| -9% | -$2.52M |
|
40
Salesforce
CRM
$171B
| $22.8M | 0.89% |
140,000
| – | – |
|
41
Accenture
ACN
$113B
| $21.7M | 0.85% |
103,000
+1,000
| +1% | +$195K |
|
42
Diageo
DEO
$52.6B
| $21.5M | 0.84% |
127,500
| – | – |
|
|
LSXMA
43
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $19.1M | 0.75% |
546,734
| – | – |
|
44
Marvell Technology
MRVL
$213B
| $19M | 0.75% |
716,600
| – | – |
|
45
Dollar Tree
DLTR
$25.3B
| $18.8M | 0.74% |
200,000
-50,000
| -20% | -$5.25M |
|
46
Martin Marietta Materials
MLM
$32.1B
| $17.8M | 0.7% |
63,530
| – | – |
|
47
DXC Technology
DXC
$1.73B
| $16.9M | 0.66% |
450,000
-150,000
| -25% | -$4.89M |
|
48
TransDigm Group
TDG
$66.4B
| $15.9M | 0.62% |
28,355
| – | – |
|
|
PRSP
49
DELISTED
Perspecta Inc. Common Stock
PRSP
| $14.5M | 0.57% |
550,000
+20,000
| +4% | +$533K |
|
|
GLIBA
50
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
| $12M | 0.47% |
170,000
-187,500
| -52% | -$12.9M |
|
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Wallace Weitz's Q4 2019 Portfolio in Review
As of Q4 2019, Wallace Weitz held 72 positions worth $2.55B, up 3.6% from $2.46B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Wallace Weitz's Q4 2019 filing shows 1 new, 11 increased, 22 reduced and 4 closed positions. Its largest new stake was First Hawaiian: 160,000 shares worth $4.62M. The largest sale was Stanley Black & Decker, an estimated $14.1M.
By sector, the portfolio is most concentrated in Financials at 30% of assets, up from 28% a quarter earlier, followed by Communication Services and Technology.
- Wallace Weitz's largest Q4 2019 buy was First Hawaiian: 160,000 shares worth $4.62M.
- Wallace Weitz added most to Markel Group in Q4 2019, an estimated $32.2M increase.
- Wallace Weitz's biggest Q4 2019 reduction was GCI Liberty, Inc. Class A Common Stock (DE), cutting an estimated $12.9M.
- Wallace Weitz fully exited Stanley Black & Decker in Q4 2019, selling an estimated $14.1M.
- Wallace Weitz's ten largest holdings make up 45% of its $2.55B portfolio in Q4 2019.
- Wallace Weitz opened 1 new position and closed 4 in Q4 2019.
- Wallace Weitz's portfolio value rose 3.6% quarter-over-quarter to $2.55B.
Based on Weitz Investment Management's 13F filing for Q4 2019, filed 13 Feb 2020.