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 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$57.1M |
| 2 |
AGN
Allergan plc
AGN
|
+$31.1M |
| 3 |
LBRDK
Liberty Broadband Class C
LBRDK
|
+$25.5M |
| 4 |
Mastercard
MA
|
+$24M |
| 5 |
Comcast
CMCSA
|
+$17.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
PCP
PRECISION CASTPARTS CORP
PCP
|
+$99.5M |
| 2 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$46.4M |
| 3 |
ADT
ADT Corp
ADT
|
+$42.1M |
| 4 |
Range Resources
RRC
|
+$23.3M |
| 5 |
MON
Monsanto Co
MON
|
+$17.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 31.7% |
| 2 | Financials | 20.15% |
| 3 | Healthcare | 12.06% |
| 4 | Consumer Discretionary | 10.65% |
| 5 | Technology | 6.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class B
BRK.B
$1.06T
| $218M | 7.63% |
1,533,279
-14,258
| -0.9% | -$1.89M |
|
2
Liberty Global Class C
LBTYK
$3.55B
| $202M | 7.08% |
6,193,541
-36,928
| -0.6% | -$1.12M |
|
3
Liberty Media Series C
FWONK
$26.3B
| $166M | 5.81% |
6,147,763
-36,115
| -0.6% | -$897K |
|
|
LBRDK
4
DELISTED
Liberty Broadband Class C
LBRDK
| $127M | 4.47% |
2,199,666
+506,679
| +30% | +$25.5M |
|
|
QVCGA
5
DELISTED
QVC Group Inc Series A
QVCGA
| $111M | 3.88% |
90,221
-2,103
| -2% | -$2.56M |
|
|
6
Berkshire Hathaway Class A
BRK.A
$1.06T
| $109M | 3.82% |
510
| – | – |
|
|
TFCFA
7
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $107M | 3.74% |
3,827,710
+2,134,410
| +126% | +$57.1M |
|
|
RWT
8
Redwood Trust
RWT
$603M
| $94.7M | 3.32% |
7,239,004
+1,009,134
| +16% | +$11.8M |
|
9
Labcorp
LH
$27.3B
| $91.1M | 3.19% |
905,533
+90,690
| +11% | +$8.7M |
|
|
AGN
10
DELISTED
Allergan plc
AGN
| $81.7M | 2.86% |
304,722
+108,552
| +55% | +$31.1M |
|
11
Alphabet (Google) Class C
GOOG
$4.18T
| $78.2M | 2.74% |
2,098,280
-48,760
| -2% | -$1.75M |
|
|
12
Range Resources
RRC
$9.59B
| $77.3M | 2.71% |
2,387,244
-838,181
| -26% | -$23.3M |
|
|
ESRX
13
DELISTED
Express Scripts Holding Company
ESRX
| $72.7M | 2.55% |
1,057,939
-517
| -0% | -$37.2K |
|
14
Aon
AON
$75.3B
| $68.1M | 2.39% |
652,296
-10,637
| -2% | -$997K |
|
15
TransDigm Group
TDG
$66.4B
| $65.8M | 2.31% |
298,775
-78,304
| -21% | -$17.1M |
|
|
16
Mastercard
MA
$509B
| $63.1M | 2.21% |
667,634
+271,760
| +69% | +$24M |
|
17
Enovis
ENOV
$1.5B
| $62.3M | 2.18% |
1,265,557
+129,662
| +11% | +$5.51M |
|
18
Motorola Solutions
MSI
$79.5B
| $62.2M | 2.18% |
821,450
-16,296
| -2% | -$1.1M |
|
19
Wells Fargo
WFC
$254B
| $58.4M | 2.05% |
1,207,587
+21,120
| +2% | +$1.03M |
|
|
PXD
20
DELISTED
Pioneer Natural Resource Co.
PXD
| $51.7M | 1.81% |
367,264
-65,084
| -15% | -$8.07M |
|
21
Texas Instruments
TXN
$241B
| $50.7M | 1.78% |
882,533
-120,947
| -12% | -$6.42M |
|
|
ILG
22
DELISTED
ILG, Inc Common Stock
ILG
| $49.5M | 1.74% |
3,431,474
+366,138
| +12% | +$4.74M |
|
23
Warner Bros
WBD
$71.6B
| $49.5M | 1.74% |
1,729,700
-462,959
| -21% | -$12.4M |
|
24
Fossil Group
FOSL
$332M
| $46M | 1.61% |
1,034,911
-228,847
| -18% | -$9.03M |
|
|
WAIR
25
DELISTED
WESCO Aircraft Holdings Inc.
WAIR
| $42M | 1.47% |
2,918,000
-323,900
| -10% | -$3.95M |
|
Similar funds
Wallace Weitz's Q1 2016 Portfolio in Review
As of Q1 2016, Wallace Weitz held 73 positions worth $2.85B, down 2.9% from $2.94B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Wallace Weitz withdrew a net $155M in Q1 2016, closing 8 positions and reducing 32 holdings. Its most notable exit was PRECISION CASTPARTS CORP, an estimated $99.5M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 32% of assets, up from 29% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Wallace Weitz opened a new position in McKesson worth $9.07M.
- Wallace Weitz's largest Q1 2016 buy was McKesson: 57,675 shares worth $9.07M.
- Wallace Weitz added most to Twenty-First Century Fox, Inc. Class A in Q1 2016, an estimated $57.1M increase.
- Wallace Weitz's biggest Q1 2016 reduction was Twenty-First Century Fox, Inc. Class B, cutting an estimated $46.4M.
- Wallace Weitz fully exited PRECISION CASTPARTS CORP in Q1 2016, selling an estimated $99.5M.
- Wallace Weitz's ten largest holdings make up 46% of its $2.85B portfolio in Q1 2016.
- Wallace Weitz opened 5 new positions and closed 8 in Q1 2016.
- Wallace Weitz's portfolio value fell 2.9% quarter-over-quarter to $2.85B.
Based on Weitz Investment Management's 13F filing for Q1 2016, filed 13 May 2016.