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 |
ADT
ADT Corp
ADT
|
+$83.8M |
| 2 |
Liberty Media Series A
FWONA
|
+$69.3M |
| 3 |
AVP
Avon Products, Inc.
AVP
|
+$21M |
| 4 |
Liberty Global Class C
LBTYK
|
+$19.5M |
| 5 |
Brown & Brown
BRO
|
+$15.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SWN
Southwestern Energy Company
SWN
|
+$37.6M |
| 2 |
Bausch Health
BHC
|
+$34.4M |
| 3 |
HP
HPQ
|
+$32M |
| 4 |
FLIR
FLIR Systems, Inc. (DE) Common Stock
FLIR
|
+$18.8M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$18.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.43% |
| 2 | Communication Services | 16.68% |
| 3 | Healthcare | 13.97% |
| 4 | Financials | 12.68% |
| 5 | Consumer Discretionary | 12.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Willis Towers Watson
WTW
$31.8B
| $5.52M | 0.18% |
47,188
+9,438
| +25% | +$1.07M |
|
|
ASCMA
52
DELISTED
Ascent Capital Group, Inc. Series A
ASCMA
| $5.29M | 0.17% |
70,000
+10,000
| +17% | +$759K |
|
|
WAIR
53
DELISTED
WESCO Aircraft Holdings Inc.
WAIR
| $5.04M | 0.16% |
+229,200
| New | +$4.99M |
|
|
CCRD
54
DELISTED
CoreCard
CCRD
| $3.81M | 0.12% |
2,270,000
| – | – |
|
55
Prestige Consumer Healthcare
PBH
$2.43B
| $3.41M | 0.11% |
125,000
-25,000
| -17% | -$743K |
|
56
AB InBev
BUD
$155B
| $1.37M | 0.04% |
13,000
| – | – |
|
|
ESI
57
DELISTED
ITT EDUCATIONAL SERVICES INC
ESI
| $688K | 0.02% |
24,000
+6,640
| +38% | +$220K |
|
58
US Bancorp
USB
$96.7B
| $643K | 0.02% |
15,000
| – | – |
|
|
OUTR
59
DELISTED
OUTERWALL INC
OUTR
| $453K | 0.01% |
6,253
-15,551
| -71% | -$1.06M |
|
60
Allison Transmission
ALSN
$11B
| $449K | 0.01% |
+15,000
| New | +$434K |
|
61
Apple
AAPL
$4.51T
| $429K | 0.01% |
22,400
| – | – |
|
|
62
HP
HPQ
$27.2B
| $421K | 0.01% |
28,626
-2,382,630
| -99% | -$32M |
|
63
Compass Minerals
CMP
$1.09B
| – | – |
-85,000
| Closed | -$6.8M |
|
64
CVS Health
CVS
$119B
| – | – |
-10,000
| Closed | -$716K |
|
|
SWN
65
DELISTED
Southwestern Energy Company
SWN
| – | – |
-955,440
| Closed | -$37.6M |
|
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Wallace Weitz's Q1 2014 Portfolio in Review
As of Q1 2014, Wallace Weitz held 66 positions worth $3.13B, up 4.9% from $2.98B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Wallace Weitz's Q1 2014 filing shows 4 new, 23 increased, 20 reduced and 3 closed positions. Its largest new stake was Pioneer Natural Resource Co.: 72,370 shares worth $13.5M. The largest sale was Southwestern Energy Company, an estimated $37.6M.
By sector, the portfolio is most concentrated in Technology at 18% of assets, down from 19% a quarter earlier, followed by Communication Services and Healthcare.
- Wallace Weitz's largest Q1 2014 buy was Pioneer Natural Resource Co.: 72,370 shares worth $13.5M.
- Wallace Weitz added most to ADT Corp in Q1 2014, an estimated $83.8M increase.
- Wallace Weitz's biggest Q1 2014 reduction was Bausch Health, cutting an estimated $34.4M.
- Wallace Weitz fully exited Southwestern Energy Company in Q1 2014, selling an estimated $37.6M.
- Wallace Weitz's ten largest holdings make up 46% of its $3.13B portfolio in Q1 2014.
- Wallace Weitz opened 4 new positions and closed 3 in Q1 2014.
- Wallace Weitz's portfolio value rose 4.9% quarter-over-quarter to $3.13B.
Based on Weitz Investment Management's 13F filing for Q1 2014, filed 14 May 2014.