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 |
Enovis
ENOV
|
+$52.1M |
| 2 |
Range Resources
RRC
|
+$14.5M |
| 3 |
Liberty Global Class C
LBTYK
|
+$5.36M |
| 4 |
iShares Russell 3000 ETF
IWV
|
+$5.05M |
| 5 |
DISCK
Discovery, Inc. Series C Common Stock
DISCK
|
+$4.99M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bausch Health
BHC
|
+$112M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$50.1M |
| 3 |
Oracle
ORCL
|
+$38M |
| 4 |
Core Laboratories
CLB
|
+$25.1M |
| 5 |
TransDigm Group
TDG
|
+$23.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 29.21% |
| 2 | Financials | 18.18% |
| 3 | Consumer Discretionary | 11.51% |
| 4 | Healthcare | 11.17% |
| 5 | Industrials | 9.76% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Liberty Latin America Class C
LILAK
$1.64B
| $11.8M | 0.4% |
319,830
-21,261
| -6% | -$693K |
|
52
Halliburton
HAL
$29.4B
| $9.99M | 0.34% |
293,367
+1,437
| +0.5% | +$54.2K |
|
53
Murphy USA
MUSA
$10.5B
| $9.41M | 0.32% |
155,000
| – | – |
|
|
CCRD
54
DELISTED
CoreCard
CCRD
| $7.33M | 0.25% |
2,270,000
| – | – |
|
|
55
iShares Russell 3000 ETF
IWV
$20.2B
| $5M | 0.17% |
+41,515
| New | +$5.05M |
|
56
Live Nation Entertainment
LYV
$42.4B
| $3.69M | 0.13% |
150,000
-410,500
| -73% | -$10.5M |
|
57
ACI Worldwide
ACIW
$5.24B
| $1.98M | 0.07% |
92,696
-274,304
| -75% | -$6.31M |
|
58
AB InBev
BUD
$155B
| $1.88M | 0.06% |
15,000
| – | – |
|
59
Microsoft
MSFT
$3.59T
| $1.39M | 0.05% |
25,000
-5,000
| -17% | -$263K |
|
|
60
Core Laboratories
CLB
$574M
| $1.09M | 0.04% |
10,000
-219,200
| -96% | -$25.1M |
|
61
Comcast
CMCSA
$95.3B
| $367K | 0.01% |
+13,000
| New | +$392K |
|
62
Amazon
AMZN
$2.79T
| $338K | 0.01% |
+10,000
| New | +$315K |
|
|
MRC
63
DELISTED
MRC Global
MRC
| $304K | 0.01% |
23,530
-39,580
| -63% | -$521K |
|
|
CPGX
64
DELISTED
COLUMBIA PIPELINE GROUP IN COM STK (DE)
CPGX
| $245K | 0.01% |
12,250
+2,250
| +23% | +$44.6K |
|
|
65
Alphabet (Google) Class A
GOOGL
$4.22T
| $159K | 0.01% |
+4,100
| New | +$152K |
|
|
MNR
66
DELISTED
Monmouth Real Estate Investment Corp
MNR
| $159K | 0.01% |
15,200
| – | – |
|
67
Angi Inc
ANGI
$200M
| – | – |
-342,856
| Closed | -$17.3M |
|
|
68
Bausch Health
BHC
$2.41B
| – | – |
-630,155
| Closed | -$112M |
|
69
Post Holdings
POST
$3.65B
| – | – |
-8,098
| Closed | -$313K |
|
|
CMLS
70
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
| – | – |
-485,000
| Closed | -$2.73M |
|
|
CMCSK
71
DELISTED
COMCAST CORP SPL A (NEW)
CMCSK
| – | – |
-6,500
| Closed | -$372K |
|
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Wallace Weitz's Q4 2015 Portfolio in Review
As of Q4 2015, Wallace Weitz held 72 positions worth $2.94B, down 9% from $3.23B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Wallace Weitz withdrew a net $387M in Q4 2015, closing 5 positions and reducing 40 holdings. Its most notable exit was Bausch Health, an estimated $112M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 29% of assets, up from 29% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Wallace Weitz opened a new position in Enovis worth $45.7M.
- Wallace Weitz's largest Q4 2015 buy was Enovis: 1,135,895 shares worth $45.7M.
- Wallace Weitz added most to Range Resources in Q4 2015, an estimated $14.5M increase.
- Wallace Weitz's biggest Q4 2015 reduction was Alphabet (Google) Class C, cutting an estimated $50.1M.
- Wallace Weitz fully exited Bausch Health in Q4 2015, selling an estimated $112M.
- Wallace Weitz's ten largest holdings make up 43% of its $2.94B portfolio in Q4 2015.
- Wallace Weitz opened 5 new positions and closed 5 in Q4 2015.
- Wallace Weitz's portfolio value fell 9% quarter-over-quarter to $2.94B.
Based on Weitz Investment Management's 13F filing for Q4 2015, filed 16 Feb 2016.