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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
+10.59%
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
$2.13B
AUM Growth
+$120M
Cap. Flow
-$98.4M
Cap. Flow %
-4.61%
Top 10 Hldgs %
45%
Holding
67
New
2
Increased
8
Reduced
23
Closed
1

Top Buys

Rank Stock Value
1
FIS icon
Fidelity National Information Services
FIS
+$37M
2
FRC
First Republic Bank
FRC
+$10.1M
3
QVCGA
QVC Group Inc Series A
QVCGA
+$7.35M
4
AON icon
Aon
AON
+$6.73M
5
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
+$6.12M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$32.1M
2
LBRDK
Liberty Broadband Class C
LBRDK
+$22.5M
3
META icon
Meta Platforms (Facebook)
META
+$21.5M
4
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$16.4M
5
RWT
Redwood Trust
RWT
+$10.5M

Sector Composition

Rank Sector Weight
1 Financials 34.82%
2 Communication Services 20.37%
3 Technology 16%
4 Healthcare 8%
5 Materials 7.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CRM icon
26
Salesforce
CRM
$171B
$30.2M 1.41%
120,000
-20,000
-14% -$4.38M
SUM
27
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
$28.5M 1.33%
1,751,783
– –
CMCSA icon
28
Comcast
CMCSA
$95.3B
$27.5M 1.29%
595,000
-10,000
-2% -$435K
JPM icon
29
JPMorgan Chase
JPM
$935B
$25.2M 1.18%
262,000
– –
LIN icon
30
Linde
LIN
$225B
$24.8M 1.16%
104,000
-6,000
-5% -$1.45M
SPGI icon
31
S&P Global
SPGI
$127B
$24.7M 1.16%
68,500
– –
ACN icon
32
Accenture
ACN
$113B
$23.3M 1.09%
103,000
– –
ACIW icon
33
ACI Worldwide
ACIW
$5.24B
$21.8M 1.02%
833,585
– –
DEO icon
34
Diageo
DEO
$52.6B
$21.8M 1.02%
158,000
+19,000
+14% +$2.62M
GWRE icon
35
Guidewire Software
GWRE
$15.8B
$21.7M 1.02%
208,300
-17,500
-8% -$1.97M
LBRDA
36
DELISTED
Liberty Broadband Class A
LBRDA
$19M 0.89%
133,750
-45,000
-25% -$6.1M
BOX icon
37
Box
BOX
$4.56B
$18.2M 0.85%
1,049,000
– –
LKQ icon
38
LKQ Corp
LKQ
$6.52B
$17M 0.8%
612,000
– –
MLM icon
39
Martin Marietta Materials
MLM
$32.1B
$16.6M 0.78%
70,450
– –
AXTA icon
40
Axalta
AXTA
$7.75B
$16.3M 0.76%
733,500
– –
HEI.A icon
41
HEICO Corp Class A
HEI.A
$36.5B
$15.6M 0.73%
175,500
– –
LILAK icon
42
Liberty Latin America Class C
LILAK
$1.64B
$15M 0.7%
2,031,035
+331,304
+19% +$2.65M
LSXMA
43
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$13.9M 0.65%
571,620
+68,050
+14% +$1.75M
QVCGA
44
DELISTED
QVC Group Inc Series A
QVCGA
$13.7M 0.64%
38,200
+15,540
+69% +$7.35M
RWT
45
Redwood Trust
RWT
$603M
$13.4M 0.63%
1,776,050
-1,484,800
-46% -$10.5M
IEX icon
46
IDEX
IEX
$17.3B
$12.7M 0.6%
69,700
– –
FRC
47
DELISTED
First Republic Bank
FRC
$9.93M 0.47%
+91,050
New +$10.1M
GLIBA
48
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
$7.29M 0.34%
89,000
– –
IR icon
49
Ingersoll Rand
IR
$31.2B
$6.76M 0.32%
190,000
-10,000
-5% -$335K
MSFT icon
50
Microsoft
MSFT
$3.59T
$3.68M 0.17%
17,500
– –
1
2
3

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Wallace Weitz's Q3 2020 Portfolio in Review

As of Q3 2020, Wallace Weitz held 67 positions worth $2.13B, up 6% from $2.01B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Wallace Weitz withdrew a net $98.4M in Q3 2020, closing 1 position and reducing 23 holdings. Its most notable exit was Equity Commonwealth, an estimated $4.67M position sold in full.

By sector, the portfolio is most concentrated in Financials at 35% of assets, up from 33% a quarter earlier, followed by Communication Services and Technology.

Against the trend, Wallace Weitz opened a new position in Fidelity National Information Services worth $37.7M.

  • Wallace Weitz's largest Q3 2020 buy was Fidelity National Information Services: 256,000 shares worth $37.7M.
  • Wallace Weitz added most to QVC Group Inc Series A in Q3 2020, an estimated $7.35M increase.
  • Wallace Weitz's biggest Q3 2020 reduction was Alphabet (Google) Class C, cutting an estimated $32.1M.
  • Wallace Weitz fully exited Equity Commonwealth in Q3 2020, selling an estimated $4.67M.
  • Wallace Weitz's ten largest holdings make up 45% of its $2.13B portfolio in Q3 2020.
  • Wallace Weitz opened 2 new positions and closed 1 in Q3 2020.
  • Wallace Weitz's portfolio value rose 6% quarter-over-quarter to $2.13B.

Based on Weitz Investment Management's 13F filing for Q3 2020, filed 12 Nov 2020.