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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
+2.53%
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
$2.46B
AUM Growth
-$58.6M
Cap. Flow
-$130M
Cap. Flow %
-5.29%
Top 10 Hldgs %
45.05%
Holding
75
New
3
Increased
11
Reduced
31
Closed
3

Top Buys

Rank Stock Value
1
CRM icon
Salesforce
CRM
+$21.3M
2
LKQ icon
LKQ Corp
LKQ
+$20.5M
3
ACIW icon
ACI Worldwide
ACIW
+$16M
4
QVCGA
QVC Group Inc Series A
QVCGA
+$9.55M
5
EXPE icon
Expedia Group
EXPE
+$7.14M

Top Sells

Rank Stock Value
1
TDG icon
TransDigm Group
TDG
+$27.7M
2
WAIR
WESCO Aircraft Holdings Inc.
WAIR
+$16.6M
3
CMCSA icon
Comcast
CMCSA
+$14.7M
4
MA icon
Mastercard
MA
+$12.9M
5
SUM
Summit Materials, Inc. Class A Common Stock
SUM
+$10.3M

Sector Composition

Rank Sector Weight
1 Financials 27.7%
2 Communication Services 23.96%
3 Technology 16.98%
4 Consumer Discretionary 8.83%
5 Healthcare 7.96%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EQC
51
DELISTED
Equity Commonwealth
EQC
$8.56M 0.35%
250,000
– –
EXPE icon
52
Expedia Group
EXPE
$38.6B
$7.26M 0.29%
+54,000
New +$7.14M
IR icon
53
Ingersoll Rand
IR
$31.2B
$6.51M 0.26%
230,000
– –
EXP icon
54
Eagle Materials
EXP
$6.35B
$5.18M 0.21%
57,500
-2,000
-3% -$172K
FBIN icon
55
Fortune Brands Innovations
FBIN
$5.32B
$4.1M 0.17%
87,750
– –
MYE icon
56
Myers Industries
MYE
$1.26B
$3.73M 0.15%
211,200
+71,200
+51% +$1.22M
BATRK icon
57
Atlanta Braves Holdings Series B
BATRK
$3.33B
$2.91M 0.12%
105,000
– –
CHTR icon
58
Charter Communications
CHTR
$17.9B
$2.47M 0.1%
6,000
-500
-8% -$202K
MSFT icon
59
Microsoft
MSFT
$3.59T
$2.43M 0.1%
17,500
– –
FWONK icon
60
Liberty Media Series C
FWONK
$26.3B
$2.08M 0.08%
51,714
-25,858
-33% -$1M
VTI icon
61
Vanguard Morningstar Total Stock Market ETF
VTI
$685B
$1.22M 0.05%
8,068
– –
FWONA icon
62
Liberty Media Series A
FWONA
$24.2B
$1.09M 0.04%
28,723
– –
VEA icon
63
Vanguard FTSE Developed Markets ETF
VEA
$239B
$680K 0.03%
16,555
– –
BSV icon
64
Vanguard Short-Term Bond ETF
BSV
$45.6B
$379K 0.02%
4,692
– –
BATRA icon
65
Atlanta Braves Holdings Series A
BATRA
$3.64B
$306K 0.01%
11,000
– –
IWB icon
66
iShares Russell 1000 ETF
IWB
$49.3B
$271K 0.01%
1,648
-250
-13% -$41K
BIV icon
67
Vanguard Intermediate-Term Bond ETF
BIV
$28.8B
$209K 0.01%
2,371
– –
SPY icon
68
State Street SPDR S&P 500 ETF Trust
SPY
$809B
$53K ﹤0.01%
180
– –
AAPL icon
69
Apple
AAPL
$4.51T
$31K ﹤0.01%
560
– –
CMP icon
70
Compass Minerals
CMP
$1.09B
– –
-74,200
Closed -$4.08M
WAIR
71
DELISTED
WESCO Aircraft Holdings Inc.
WAIR
– –
-1,500,000
Closed -$16.6M
LEXEA
72
DELISTED
Liberty Expedia Holdings, Inc. Class A Common Stock
LEXEA
– –
-150,000
Closed -$7.17M
1 2
3

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Wallace Weitz's Q3 2019 Portfolio in Review

As of Q3 2019, Wallace Weitz held 75 positions worth $2.46B, down 2.3% from $2.52B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Wallace Weitz withdrew a net $130M in Q3 2019, closing 3 positions and reducing 31 holdings. Its most notable exit was WESCO Aircraft Holdings Inc., an estimated $16.6M position sold in full.

By sector, the portfolio is most concentrated in Financials at 28% of assets, down from 28% a quarter earlier, followed by Communication Services and Technology.

Against the trend, Wallace Weitz opened a new position in Salesforce worth $20.8M.

  • Wallace Weitz's largest Q3 2019 buy was Salesforce: 140,000 shares worth $20.8M.
  • Wallace Weitz added most to ACI Worldwide in Q3 2019, an estimated $16M increase.
  • Wallace Weitz's biggest Q3 2019 reduction was TransDigm Group, cutting an estimated $27.7M.
  • Wallace Weitz fully exited WESCO Aircraft Holdings Inc. in Q3 2019, selling an estimated $16.6M.
  • Wallace Weitz's ten largest holdings make up 45% of its $2.46B portfolio in Q3 2019.
  • Wallace Weitz opened 3 new positions and closed 3 in Q3 2019.
  • Wallace Weitz's portfolio value fell 2.3% quarter-over-quarter to $2.46B.

Based on Weitz Investment Management's 13F filing for Q3 2019, filed 13 Nov 2019.