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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
+18.64%
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
$2.01B
AUM Growth
+$130M
Cap. Flow
-$196M
Cap. Flow %
-9.73%
Top 10 Hldgs %
46.21%
Holding
71
New
2
Increased
10
Reduced
30
Closed
6

Top Buys

Rank Stock Value
1
SCHW
Charles Schwab
SCHW
+$15.2M
2
CSGP icon
CoStar Group
CSGP
+$9.7M
3
AON icon
Aon
AON
+$9.61M
4
MLM icon
Martin Marietta Materials
MLM
+$3.08M
5
DLB icon
Dolby
DLB
+$2.99M

Top Sells

Rank Stock Value
1
LBTYK icon
Liberty Global Class C
LBTYK
+$30.5M
2
XLF icon
State Street Financial Select Sector SPDR ETF
XLF
+$25M
3
LBRDK
Liberty Broadband Class C
LBRDK
+$20.9M
4
CCRD
CoreCard
CCRD
+$18.1M
5
MRVL icon
Marvell Technology
MRVL
+$15.2M

Sector Composition

Rank Sector Weight
1 Financials 33.1%
2 Communication Services 23.52%
3 Technology 14.81%
4 Healthcare 7.45%
5 Materials 6.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CRM icon
26
Salesforce
CRM
$171B
$26.2M 1.3%
140,000
– –
GWRE icon
27
Guidewire Software
GWRE
$15.8B
$25M 1.24%
225,800
+6,800
+3% +$653K
JPM icon
28
JPMorgan Chase
JPM
$935B
$24.6M 1.22%
262,000
-50,000
-16% -$4.74M
CMCSA icon
29
Comcast
CMCSA
$95.3B
$23.6M 1.17%
605,000
– –
LIN icon
30
Linde
LIN
$225B
$23.3M 1.16%
110,000
– –
RWT
31
Redwood Trust
RWT
$603M
$22.8M 1.13%
3,260,850
-326,000
-9% -$1.61M
SPGI icon
32
S&P Global
SPGI
$127B
$22.6M 1.12%
68,500
– –
ACIW icon
33
ACI Worldwide
ACIW
$5.24B
$22.5M 1.12%
833,585
-6,065
-0.7% -$159K
ACN icon
34
Accenture
ACN
$113B
$22.1M 1.1%
103,000
– –
LBRDA
35
DELISTED
Liberty Broadband Class A
LBRDA
$21.8M 1.08%
178,750
-13,750
-7% -$1.69M
BOX icon
36
Box
BOX
$4.56B
$21.8M 1.08%
1,049,000
-204,000
-16% -$3.58M
DEO icon
37
Diageo
DEO
$52.6B
$18.7M 0.93%
139,000
– –
AXTA icon
38
Axalta
AXTA
$7.75B
$16.5M 0.82%
733,500
-65,300
-8% -$1.34M
LKQ icon
39
LKQ Corp
LKQ
$6.52B
$16M 0.8%
612,000
-77,400
-11% -$1.9M
MLM icon
40
Martin Marietta Materials
MLM
$32.1B
$14.6M 0.72%
70,450
+16,020
+29% +$3.08M
HEI.A icon
41
HEICO Corp Class A
HEI.A
$36.5B
$14.3M 0.71%
175,500
+16,750
+11% +$1.3M
LILAK icon
42
Liberty Latin America Class C
LILAK
$1.64B
$13.7M 0.68%
1,699,731
-444,150
-21% -$3.78M
LSXMA
43
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$12.8M 0.63%
503,570
-8,561
-2% -$209K
IEX icon
44
IDEX
IEX
$17.3B
$11M 0.55%
69,700
+6,306
+10% +$964K
QVCGA
45
DELISTED
QVC Group Inc Series A
QVCGA
$10.4M 0.52%
22,660
-9,785
-30% -$3.82M
GLIBA
46
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
$6.33M 0.31%
89,000
-81,000
-48% -$5.19M
IR icon
47
Ingersoll Rand
IR
$31.2B
$5.62M 0.28%
200,000
-30,000
-13% -$847K
FHB icon
48
First Hawaiian
FHB
$3.2B
$5.17M 0.26%
300,000
+40,000
+15% +$671K
EQC
49
DELISTED
Equity Commonwealth
EQC
$4.67M 0.23%
145,000
-105,000
-42% -$3.47M
MSFT icon
50
Microsoft
MSFT
$3.59T
$3.56M 0.18%
17,500
– –
1
2
3

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Wallace Weitz's Q2 2020 Portfolio in Review

As of Q2 2020, Wallace Weitz held 71 positions worth $2.01B, up 6.9% from $1.88B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Wallace Weitz withdrew a net $196M in Q2 2020, closing 6 positions and reducing 30 holdings. Its most notable exit was State Street Financial Select Sector SPDR ETF, an estimated $25M position sold in full.

By sector, the portfolio is most concentrated in Financials at 33% of assets, down from 33% a quarter earlier, followed by Communication Services and Technology.

Against the trend, Wallace Weitz opened a new position in Dolby worth $3.29M.

  • Wallace Weitz's largest Q2 2020 buy was Dolby: 50,000 shares worth $3.29M.
  • Wallace Weitz added most to Charles Schwab in Q2 2020, an estimated $15.2M increase.
  • Wallace Weitz's biggest Q2 2020 reduction was Liberty Global Class C, cutting an estimated $30.5M.
  • Wallace Weitz fully exited State Street Financial Select Sector SPDR ETF in Q2 2020, selling an estimated $25M.
  • Wallace Weitz's ten largest holdings make up 46% of its $2.01B portfolio in Q2 2020.
  • Wallace Weitz opened 2 new positions and closed 6 in Q2 2020.
  • Wallace Weitz's portfolio value rose 6.9% quarter-over-quarter to $2.01B.

Based on Weitz Investment Management's 13F filing for Q2 2020, filed 12 Aug 2020.