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 |
Veralto
VLTO
|
+$26.8M |
| 2 |
Global Payments
GPN
|
+$26.6M |
| 3 |
Charter Communications
CHTR
|
+$4.08M |
| 4 |
ACI Worldwide
ACIW
|
+$2.18M |
| 5 |
CarMax
KMX
|
+$2.02M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Gartner
IT
|
+$22.6M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$16.6M |
| 3 |
Adobe
ADBE
|
+$15.9M |
| 4 |
Roper Technologies
ROP
|
+$15.6M |
| 5 |
Guidewire Software
GWRE
|
+$8.92M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 22.2% |
| 2 | Communication Services | 21.6% |
| 3 | Technology | 19.66% |
| 4 | Healthcare | 10.87% |
| 5 | Industrials | 7.36% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Global Payments
GPN
$24.7B
| $29.2M | 1.54% |
+230,000
| New | +$26.6M |
|
27
Texas Instruments
TXN
$241B
| $29M | 1.53% |
170,101
| – | – |
|
28
Fidelity National Information Services
FIS
$21.3B
| $26.8M | 1.41% |
446,500
-55,000
| -11% | -$3.02M |
|
29
Liberty Global Class C
LBTYK
$3.55B
| $26.2M | 1.38% |
1,406,500
-30,000
| -2% | -$520K |
|
30
HEICO Corp Class A
HEI.A
$36.5B
| $26.1M | 1.38% |
183,300
| – | – |
|
31
Martin Marietta Materials
MLM
$32.1B
| $24.6M | 1.3% |
49,300
-12,700
| -20% | -$5.72M |
|
|
32
Charter Communications
CHTR
$17.9B
| $23.7M | 1.25% |
61,100
+10,000
| +20% | +$4.08M |
|
33
Microchip Technology
MCHP
$41.3B
| $23.4M | 1.23% |
259,600
| – | – |
|
34
Microsoft
MSFT
$3.59T
| $21.6M | 1.14% |
57,500
-200
| -0.3% | -$71.2K |
|
35
Linde
LIN
$225B
| $20.1M | 1.06% |
48,900
-9,850
| -17% | -$3.88M |
|
36
LKQ Corp
LKQ
$6.52B
| $19.7M | 1.04% |
412,250
| – | – |
|
|
37
Adobe
ADBE
$109B
| $17.9M | 0.94% |
30,000
-27,500
| -48% | -$15.9M |
|
38
Perimeter Solutions
PRM
$5.15B
| $16.7M | 0.88% |
3,635,000
| – | – |
|
39
IDEX
IEX
$17.3B
| $14.5M | 0.77% |
66,900
| – | – |
|
|
40
Guidewire Software
GWRE
$15.8B
| $13.3M | 0.7% |
122,100
-93,500
| -43% | -$8.92M |
|
41
Liberty Live Group Series C
LLYVK
$9.7B
| $11.8M | 0.62% |
315,000
-175,000
| -36% | -$5.95M |
|
|
42
ACI Worldwide
ACIW
$5.24B
| $11.4M | 0.6% |
372,000
+87,000
| +31% | +$2.18M |
|
|
LBRDA
43
DELISTED
Liberty Broadband Class A
LBRDA
| $11.3M | 0.6% |
140,000
| – | – |
|
44
Liberty Latin America Class C
LILAK
$1.64B
| $8.97M | 0.47% |
1,343,650
| – | – |
|
|
LSXMA
45
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $8.91M | 0.47% |
310,000
| – | – |
|
|
CCRD
46
DELISTED
CoreCard
CCRD
| $7.05M | 0.37% |
510,000
| – | – |
|
47
Live Nation Entertainment
LYV
$42.4B
| $5.71M | 0.3% |
61,000
| – | – |
|
48
JPMorgan Chase
JPM
$935B
| $4M | 0.21% |
23,500
| – | – |
|
49
Fortive
FTV
$18.1B
| $3M | 0.16% |
54,142
| – | – |
|
50
Diageo
DEO
$52.6B
| $2.99M | 0.16% |
20,500
+3,000
| +17% | +$443K |
|
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Wallace Weitz's Q4 2023 Portfolio in Review
As of Q4 2023, Wallace Weitz held 55 positions worth $1.9B, up 4.4% from $1.82B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Wallace Weitz withdrew a net $79.7M in Q4 2023, reducing 24 holdings. Its largest reduction was Gartner, cutting an estimated $22.6M.
By sector, the portfolio is most concentrated in Financials at 22% of assets, down from 23% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Wallace Weitz opened a new position in Veralto worth $29.5M.
- Wallace Weitz's largest Q4 2023 buy was Veralto: 358,699 shares worth $29.5M.
- Wallace Weitz added most to Charter Communications in Q4 2023, an estimated $4.08M increase.
- Wallace Weitz's biggest Q4 2023 reduction was Gartner, cutting an estimated $22.6M.
- Wallace Weitz's ten largest holdings make up 45% of its $1.9B portfolio in Q4 2023.
- Wallace Weitz opened 2 new positions and closed 0 in Q4 2023.
- Wallace Weitz's portfolio value rose 4.4% quarter-over-quarter to $1.9B.
Based on Weitz Investment Management's 13F filing for Q4 2023, filed 12 Feb 2024.