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Wallace Weitz Weitz Investment Management
AUM
$1.44B
Turnover
9.62%
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
+2.87%
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
$2.94B
AUM Growth
-$290M
(-9%)
Cap. Flow
-$387M
Cap. Flow % of AUM
Cap. Flow %
-13.16%
Top 10 Holdings %
Top 10 Hldgs %
43.15%
Holding
72
New
5
Increased
17
Reduced
40
Closed
5
Avg Time Held
1.7
years
Top 10 Avg Time Held
1.1
years
Top 20 Avg Time Held
1.4
years
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 | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Liberty Global Class C
LBTYK
$2.65B
| $220M | 7.51% |
6,230,469
+148,711
| +2% | +$5.36M |
2013 Q2
10 quarters
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.16T
| $204M | 6.96% |
1,547,537
-33,820
| -2% | -$4.54M |
2013 Q2
10 quarters
|
|
3
Liberty Media Corporation Series C Common Stock
FWONK
$22.4B
| $167M | 5.68% |
6,183,878
-505,798
| -8% | -$13.7M |
2014 Q3
5 quarters
|
|
|
QVCGA
4
DELISTED
QVC Group Inc Series A
QVCGA
| $122M | 4.17% |
92,324
-2,080
| -2% | -$2.73M |
2013 Q2
10 quarters
|
|
5
Berkshire Hathaway Class A
BRK.A
$1.16T
| $101M | 3.43% |
510
-10
| -2% | -$2.01M |
2013 Q2
10 quarters
|
|
|
PCP
6
DELISTED
PRECISION CASTPARTS CORP
PCP
| $99.5M | 3.39% |
428,851
-11,712
| -3% | -$2.71M |
2014 Q3
5 quarters
|
|
|
ESRX
7
DELISTED
Express Scripts Holding Company
ESRX
| $92.5M | 3.15% |
1,058,456
-7,633
| -0.7% | -$654K |
2013 Q2
10 quarters
|
|
8
DELISTED
Liberty Broadband Class C
LBRDK
| $87.8M | 2.99% |
1,692,987
+16,307
| +1% | +$865K |
2014 Q4
4 quarters
|
|
9
Labcorp
LH
$26.7B
| $86.6M | 2.95% |
814,843
-41,546
| -5% | -$4.29M |
2013 Q2
10 quarters
|
|
|
10
TransDigm Group
TDG
$61.1B
| $86.1M | 2.93% |
377,079
-103,278
| -22% | -$23.2M |
2013 Q2
10 quarters
|
|
11
Redwood Trust
RWT
$399M
| $82.2M | 2.8% |
6,229,870
+152,366
| +3% | +$2.06M |
2013 Q2
10 quarters
|
|
|
12
Alphabet (Google) Class C
GOOG
$3.88T
| $81.5M | 2.77% |
2,147,040
-1,395,600
| -39% | -$50.1M |
2013 Q2
10 quarters
|
|
|
13
Range Resources
RRC
$10.6B
| $79.4M | 2.7% |
3,225,425
+490,079
| +18% | +$14.5M |
2013 Q2
10 quarters
|
|
14
Wells Fargo
WFC
$247B
| $64.5M | 2.2% |
1,186,467
-18,296
| -2% | -$993K |
2013 Q2
10 quarters
|
|
|
AGN
15
DELISTED
Allergan plc
AGN
| $61.3M | 2.09% |
196,170
+8,563
| +5% | +$2.55M |
2015 Q3
1 quarter
|
|
16
Aon
AON
$64.4B
| $61.1M | 2.08% |
662,933
+1,420
| +0.2% | +$132K |
2013 Q2
10 quarters
|
|
17
DELISTED
Warner Bros
WBD
| $58.5M | 1.99% |
2,192,659
-682,341
| -24% | -$19.7M |
2015 Q3
1 quarter
|
|
18
Motorola Solutions
MSI
$79.7B
| $57.3M | 1.95% |
837,746
-255,067
| -23% | -$17.8M |
2014 Q4
4 quarters
|
|
|
TFCF
19
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $57.3M | 1.95% |
2,103,476
-91,535
| -4% | -$2.69M |
2014 Q4
4 quarters
|
|
20
Texas Instruments
TXN
$260B
| $55M | 1.87% |
1,003,480
-18,646
| -2% | -$1.04M |
2013 Q2
10 quarters
|
|
21
DELISTED
Pioneer Natural Resource Co.
PXD
| $54.2M | 1.85% |
432,348
-18,640
| -4% | -$2.56M |
2014 Q1
7 quarters
|
|
|
ILG
22
DELISTED
ILG, Inc Common Stock
ILG
| $47.8M | 1.63% |
3,065,336
+58,994
| +2% | +$1M |
2013 Q2
10 quarters
|
|
23
Fossil Group
FOSL
$390M
| $46.2M | 1.57% |
1,263,758
+106,017
| +9% | +$4.83M |
2015 Q2
2 quarters
|
|
|
TFCFA
24
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $46M | 1.57% |
1,693,300
+92,100
| +6% | +$2.67M |
2014 Q4
4 quarters
|
|
|
25
Enovis
ENOV
$1.22B
| $45.7M | 1.55% |
+1,135,895
| New | +$52.1M |
2015 Q4
0 quarters
|
|
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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.