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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
+1.7%
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
$2.52B
AUM Growth
-$142M
Cap. Flow
-$230M
Cap. Flow %
-9.14%
Top 10 Hldgs %
48.25%
Holding
92
New
21
Increased
14
Reduced
38
Closed
6

Top Buys

Rank Stock Value
1
V icon
Visa
V
+$68.7M
2
TMO icon
Thermo Fisher Scientific
TMO
+$19.5M
3
LEXEA
Liberty Expedia Holdings, Inc. Class A Common Stock
LEXEA
+$13.5M
4
CVS icon
CVS Health
CVS
+$9.8M
5
AMZN icon
Amazon
AMZN
+$9.37M

Top Sells

Rank Stock Value
1
ESRX
Express Scripts Holding Company
ESRX
+$70.6M
2
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$34.1M
3
WFC icon
Wells Fargo
WFC
+$31.3M
4
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
+$30.7M
5
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$21.5M

Sector Composition

Rank Sector Weight
1 Communication Services 31.05%
2 Financials 22.65%
3 Healthcare 13.15%
4 Consumer Discretionary 10.21%
5 Technology 6.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EQC
51
DELISTED
Equity Commonwealth
EQC
$7.74M 0.31%
256,000
– –
HAL icon
52
Halliburton
HAL
$29.4B
$6.88M 0.27%
127,157
-75,330
-37% -$3.76M
BATRK icon
53
Atlanta Braves Holdings Series B
BATRK
$3.33B
$4.54M 0.18%
220,700
– –
LGF.B
54
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
$3.68M 0.15%
+150,000
New +$3.83M
LGF.A
55
DELISTED
Lions Gate Entertainment Corp. Class A Voting Shares
LGF.A
$3.36M 0.13%
+125,000
New +$3.38M
ACIW icon
56
ACI Worldwide
ACIW
$5.24B
$3.03M 0.12%
167,000
+53,304
+47% +$998K
CHUBK
57
DELISTED
CommerceHub, Inc. Series C Common Stock
CHUBK
$2.9M 0.12%
192,780
– –
FWONA icon
58
Liberty Media Series A
FWONA
$24.2B
$2.43M 0.1%
80,946
– –
BUD icon
59
AB InBev
BUD
$155B
$1.58M 0.06%
15,000
– –
CMP icon
60
Compass Minerals
CMP
$1.09B
$1.55M 0.06%
19,778
+3,778
+24% +$287K
IWV icon
61
iShares Russell 3000 ETF
IWV
$20.2B
$1.46M 0.06%
+11,000
New +$1.43M
CHUBA
62
DELISTED
CommerceHub, Inc. Series A Common Stock
CHUBA
$1.45M 0.06%
96,390
– –
AAPL icon
63
Apple
AAPL
$4.51T
$897K 0.04%
30,980
-16,756
-35% -$475K
VTI icon
64
Vanguard Morningstar Total Stock Market ETF
VTI
$685B
$896K 0.04%
+7,772
New +$874K
VEA icon
65
Vanguard FTSE Developed Markets ETF
VEA
$239B
$699K 0.03%
+19,138
New +$698K
ZOES
66
DELISTED
Zoe's Kitchen, Inc.
ZOES
$640K 0.03%
26,667
+4,527
+20% +$107K
BATRA icon
67
Atlanta Braves Holdings Series A
BATRA
$3.64B
$635K 0.03%
31,000
– –
CRM icon
68
Salesforce
CRM
$171B
$616K 0.02%
+9,000
New +$653K
FIS icon
69
Fidelity National Information Services
FIS
$21.3B
$605K 0.02%
+8,000
New +$610K
CMG icon
70
Chipotle Mexican Grill
CMG
$46.7B
$586K 0.02%
+77,650
New +$613K
GWRE icon
71
Guidewire Software
GWRE
$15.8B
$543K 0.02%
11,000
+4,000
+57% +$224K
SUM
72
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
$445K 0.02%
19,307
-2,609
-12% -$54.7K
BSV icon
73
Vanguard Short-Term Bond ETF
BSV
$45.6B
$366K 0.01%
+4,609
New +$369K
THR
74
DELISTED
Thermon Group Holdings
THR
$322K 0.01%
+16,868
New +$331K
AMT icon
75
American Tower
AMT
$81.9B
$299K 0.01%
+2,828
New +$307K
1 2
3
4

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Wallace Weitz's Q4 2016 Portfolio in Review

As of Q4 2016, Wallace Weitz held 92 positions worth $2.52B, down 5.4% from $2.66B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Wallace Weitz withdrew a net $230M in Q4 2016, closing 6 positions and reducing 38 holdings. Its most notable exit was Express Scripts Holding Company, an estimated $70.6M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 31% of assets, down from 32% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Wallace Weitz opened a new position in Thermo Fisher Scientific worth $18.6M.

  • Wallace Weitz's largest Q4 2016 buy was Thermo Fisher Scientific: 132,160 shares worth $18.6M.
  • Wallace Weitz added most to Visa in Q4 2016, an estimated $68.7M increase.
  • Wallace Weitz's biggest Q4 2016 reduction was Berkshire Hathaway Class B, cutting an estimated $34.1M.
  • Wallace Weitz fully exited Express Scripts Holding Company in Q4 2016, selling an estimated $70.6M.
  • Wallace Weitz's ten largest holdings make up 48% of its $2.52B portfolio in Q4 2016.
  • Wallace Weitz opened 21 new positions and closed 6 in Q4 2016.
  • Wallace Weitz's portfolio value fell 5.4% quarter-over-quarter to $2.52B.

Based on Weitz Investment Management's 13F filing for Q4 2016, filed 14 Feb 2017.