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 |
Liberty Media Series C
FWONK
|
+$147M |
| 2 |
PCP
PRECISION CASTPARTS CORP
PCP
|
+$31M |
| 3 |
Liberty Global Class C
LBTYK
|
+$30.6M |
| 4 |
Angi Inc
ANGI
|
+$28.2M |
| 5 |
AVP
Avon Products, Inc.
AVP
|
+$26.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Liberty Media Series A
FWONA
|
+$130M |
| 2 |
APA Corp
APA
|
+$30.2M |
| 3 |
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
|
+$17.8M |
| 4 |
Microsoft
MSFT
|
+$17.4M |
| 5 |
Target
TGT
|
+$14.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 20.63% |
| 2 | Technology | 15.5% |
| 3 | Healthcare | 14.79% |
| 4 | Financials | 13.07% |
| 5 | Consumer Discretionary | 11.27% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PXD
51
DELISTED
Pioneer Natural Resource Co.
PXD
| $14.2M | 0.42% |
72,330
| – | – |
|
|
CMLS
52
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
| $13.3M | 0.39% |
413,620
+1,120
| +0.3% | +$44.4K |
|
53
ACI Worldwide
ACIW
$5.24B
| $12.1M | 0.35% |
643,000
+115,000
| +22% | +$2.16M |
|
|
ASCMA
54
DELISTED
Ascent Capital Group, Inc. Series A
ASCMA
| $8.43M | 0.25% |
140,000
+40,000
| +40% | +$2.51M |
|
55
Post Holdings
POST
$3.65B
| $8.06M | 0.24% |
+371,304
| New | +$9.91M |
|
|
SAPE
56
DELISTED
SAPIENT CORP
SAPE
| $7.7M | 0.23% |
550,100
+100
| +0% | +$1.48K |
|
57
Prestige Consumer Healthcare
PBH
$2.43B
| $5.18M | 0.15% |
160,000
+35,000
| +28% | +$1.17M |
|
|
CCRD
58
DELISTED
CoreCard
CCRD
| $3.11M | 0.09% |
2,270,000
| – | – |
|
59
AB InBev
BUD
$155B
| $1.44M | 0.04% |
13,000
| – | – |
|
60
Allison Transmission
ALSN
$11B
| $427K | 0.01% |
15,000
| – | – |
|
61
HP
HPQ
$27.2B
| $372K | 0.01% |
23,121
-3,303
| -13% | -$53.6K |
|
62
FTI Consulting
FCN
$4.3B
| $315K | 0.01% |
9,000
-10,485
| -54% | -$387K |
|
|
MNR
63
DELISTED
Monmouth Real Estate Investment Corp
MNR
| $69K | ﹤0.01% |
+6,800
| New | +$71.1K |
|
64
Apple
AAPL
$4.51T
| – | – |
-16,800
| Closed | -$390K |
|
|
65
Target
TGT
$75.1B
| – | – |
-255,093
| Closed | -$14.8M |
|
66
US Bancorp
USB
$96.7B
| – | – |
-15,000
| Closed | -$650K |
|
Similar funds
Wallace Weitz's Q3 2014 Portfolio in Review
As of Q3 2014, Wallace Weitz held 67 positions worth $3.4B, up 2.6% from $3.31B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Wallace Weitz deployed $183M of net new capital in Q3 2014, opening 6 new positions and adding to 27 existing holdings. Its largest new stake was Liberty Media Series C: 5,757,959 shares worth $145M.
By sector, the portfolio is most concentrated in Communication Services at 21% of assets, up from 19% a quarter earlier, followed by Technology and Healthcare.
On the sell side, the largest reduction was Liberty Media Series A, an estimated $130M trimmed.
- Wallace Weitz's largest Q3 2014 buy was Liberty Media Series C: 5,757,959 shares worth $145M.
- Wallace Weitz added most to Liberty Global Class C in Q3 2014, an estimated $30.6M increase.
- Wallace Weitz's biggest Q3 2014 reduction was Liberty Media Series A, cutting an estimated $130M.
- Wallace Weitz fully exited Target in Q3 2014, selling an estimated $14.8M.
- Wallace Weitz's ten largest holdings make up 45% of its $3.4B portfolio in Q3 2014.
- Wallace Weitz opened 6 new positions and closed 3 in Q3 2014.
- Wallace Weitz's portfolio value rose 2.6% quarter-over-quarter to $3.4B.
Based on Weitz Investment Management's 13F filing for Q3 2014, filed 13 Nov 2014.