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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
DG icon
76
Dollar General
DG
$27.2B
$287K 0.01%
+3,873
New +$283K
VHT icon
77
Vanguard Health Care ETF
VHT
$19.7B
$263K 0.01%
+2,076
New +$265K
IWB icon
78
iShares Russell 1000 ETF
IWB
$49.3B
$193K 0.01%
+1,550
New +$189K
BIV icon
79
Vanguard Intermediate-Term Bond ETF
BIV
$28.8B
$191K 0.01%
+2,303
New +$196K
GOOGL icon
80
Alphabet (Google) Class A
GOOGL
$4.22T
$151K 0.01%
3,800
– –
SPY icon
81
State Street SPDR S&P 500 ETF Trust
SPY
$809B
$88K ﹤0.01%
+395
New +$86.3K
VIG icon
82
Vanguard Dividend Appreciation ETF
VIG
$114B
$37K ﹤0.01%
+430
New +$36.2K
OEF icon
83
iShares S&P 100 ETF
OEF
$20.3B
$13K ﹤0.01%
+128
New +$12.4K
USB icon
84
US Bancorp
USB
$96.7B
$11K ﹤0.01%
205
-110
-35% -$5.23K
BRO icon
85
Brown & Brown
BRO
$24.4B
– –
-160,000
Closed -$3.02M
EOG icon
86
EOG Resources
EOG
$80.3B
– –
-91,270
Closed -$8.83M
MCK icon
87
McKesson
MCK
$100B
– –
-58,080
Closed -$9.69M
ODFL icon
88
Old Dominion Freight Line
ODFL
$42.8B
– –
-40,440
Closed -$925K
ESRX
89
DELISTED
Express Scripts Holding Company
ESRX
– –
-1,000,693
Closed -$70.6M
LGF
90
DELISTED
Lions Gate Entertainment
LGF
– –
-457,400
Closed -$9.14M
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.