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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
+2.4%
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
$2.32B
AUM Growth
-$113M
Cap. Flow
-$199M
Cap. Flow %
-8.6%
Top 10 Hldgs %
52.78%
Holding
84
New
1
Increased
12
Reduced
39
Closed
10

Top Buys

Rank Stock Value
1
LILAK icon
Liberty Latin America Class C
LILAK
+$10.8M
2
DLTR icon
Dollar Tree
DLTR
+$9.54M
3
DXC icon
DXC Technology
DXC
+$4M
4
LH icon
Labcorp
LH
+$3.43M
5
CMP icon
Compass Minerals
CMP
+$2.58M

Top Sells

Rank Stock Value
1
ILG
ILG, Inc Common Stock
ILG
+$46.8M
2
WTW icon
Willis Towers Watson
WTW
+$22.7M
3
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$17.6M
4
DISCK
Discovery, Inc. Series C Common Stock
DISCK
+$16.2M
5
QVCGA
QVC Group Inc Series A
QVCGA
+$10.8M

Sector Composition

Rank Sector Weight
1 Communication Services 31.69%
2 Financials 24.08%
3 Healthcare 14.4%
4 Consumer Discretionary 8.77%
5 Technology 7.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BRK.B icon
1
Berkshire Hathaway Class B
BRK.B
$1.06T
$193M 8.31%
1,137,472
-12,065
-1% -$2.01M
LBRDK
2
DELISTED
Liberty Broadband Class C
LBRDK
$193M 8.31%
2,220,736
-30,388
-1% -$2.66M
LBTYK icon
3
Liberty Global Class C
LBTYK
$3.55B
$158M 6.79%
5,053,580
-150,600
-3% -$4.7M
LH icon
4
Labcorp
LH
$27.3B
$118M 5.08%
889,401
+28,019
+3% +$3.43M
AGN
5
DELISTED
Allergan plc
AGN
$117M 5.05%
481,895
-30,508
-6% -$7.17M
BRK.A icon
6
Berkshire Hathaway Class A
BRK.A
$1.06T
$104M 4.5%
410
-3
-0.7% -$749K
MA icon
7
Mastercard
MA
$509B
$90.3M 3.89%
743,634
-1,510
-0.2% -$179K
QVCGA
8
DELISTED
QVC Group Inc Series A
QVCGA
$89.3M 3.85%
74,951
-9,732
-11% -$10.8M
GOOG icon
9
Alphabet (Google) Class C
GOOG
$4.18T
$87.3M 3.76%
1,921,180
-9,800
-0.5% -$449K
V icon
10
Visa
V
$693B
$75M 3.23%
799,752
-15,542
-2% -$1.44M
RWT
11
Redwood Trust
RWT
$603M
$72.9M 3.14%
4,279,500
-510,150
-11% -$8.61M
LSXMK
12
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
$72.5M 3.13%
2,284,242
-66,789
-3% -$2M
ENOV icon
13
Enovis
ENOV
$1.5B
$66.9M 2.89%
987,810
-14,206
-1% -$969K
ORCL icon
14
Oracle
ORCL
$422B
$58.1M 2.5%
1,158,077
-40,350
-3% -$1.84M
TFCFA
15
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$54.1M 2.33%
1,907,600
-613,350
-24% -$17.6M
AON icon
16
Aon
AON
$75.3B
$48.9M 2.11%
367,654
-49,480
-12% -$6.26M
WFC icon
17
Wells Fargo
WFC
$254B
$46.2M 1.99%
833,302
-6,050
-0.7% -$324K
TXN icon
18
Texas Instruments
TXN
$241B
$41.3M 1.78%
537,040
-6,740
-1% -$540K
LVNTA
19
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
$41M 1.77%
785,000
+23,000
+3% +$1.2M
LILAK icon
20
Liberty Latin America Class C
LILAK
$1.64B
$33M 1.42%
1,800,166
+587,965
+49% +$10.8M
WAIR
21
DELISTED
WESCO Aircraft Holdings Inc.
WAIR
$31.8M 1.37%
2,929,586
+154,586
+6% +$1.59M
DISCK
22
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$31.4M 1.35%
1,245,270
-613,314
-33% -$16.2M
LBRDA
23
DELISTED
Liberty Broadband Class A
LBRDA
$30M 1.29%
350,000
– –
PX
24
DELISTED
Praxair Inc
PX
$26.9M 1.16%
202,652
-11,011
-5% -$1.41M
FLIR
25
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
$25.9M 1.12%
748,165
-8,150
-1% -$297K
1
2 3 4

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Wallace Weitz's Q2 2017 Portfolio in Review

As of Q2 2017, Wallace Weitz held 84 positions worth $2.32B, down 4.7% from $2.43B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Wallace Weitz withdrew a net $199M in Q2 2017, closing 10 positions and reducing 39 holdings. Its most notable exit was ILG, Inc Common Stock, an estimated $46.8M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 32% of assets, down from 33% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Wallace Weitz opened a new position in DXC Technology worth $4M.

  • Wallace Weitz's largest Q2 2017 buy was DXC Technology: 60,228 shares worth $4M.
  • Wallace Weitz added most to Liberty Latin America Class C in Q2 2017, an estimated $10.8M increase.
  • Wallace Weitz's biggest Q2 2017 reduction was Willis Towers Watson, cutting an estimated $22.7M.
  • Wallace Weitz fully exited ILG, Inc Common Stock in Q2 2017, selling an estimated $46.8M.
  • Wallace Weitz's ten largest holdings make up 53% of its $2.32B portfolio in Q2 2017.
  • Wallace Weitz opened 1 new position and closed 10 in Q2 2017.
  • Wallace Weitz's portfolio value fell 4.7% quarter-over-quarter to $2.32B.

Based on Weitz Investment Management's 13F filing for Q2 2017, filed 14 Aug 2017.