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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
+2.49%
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
$2.4B
AUM Growth
-$30.6M
Cap. Flow
-$134M
Cap. Flow %
-5.59%
Top 10 Hldgs %
53.23%
Holding
83
New
4
Increased
19
Reduced
23
Closed
6

Top Buys

Rank Stock Value
1
AGN
Allergan plc
AGN
+$22.7M
2
BKNG icon
Booking.com
BKNG
+$10M
3
DISCK
Discovery, Inc. Series C Common Stock
DISCK
+$9.2M
4
RWT
Redwood Trust
RWT
+$5.97M
5
AMZN icon
Amazon
AMZN
+$5.49M

Top Sells

Rank Stock Value
1
UPS icon
United Parcel Service
UPS
+$18.9M
2
QVCGA
QVC Group Inc Series A
QVCGA
+$18.1M
3
WFC icon
Wells Fargo
WFC
+$16.4M
4
FLIR
FLIR Systems, Inc. (DE) Common Stock
FLIR
+$12.9M
5
WBD icon
Warner Bros
WBD
+$10.6M

Sector Composition

Rank Sector Weight
1 Communication Services 30.44%
2 Financials 25.42%
3 Healthcare 13.73%
4 Technology 8.92%
5 Consumer Discretionary 8.1%
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
$225M 9.39%
1,137,308
-7,232
-0.6% -$1.37M
LBRDK
2
DELISTED
Liberty Broadband Class C
LBRDK
$183M 7.64%
2,152,971
+15,270
+0.7% +$1.36M
LBTYK icon
3
Liberty Global Class C
LBTYK
$3.55B
$166M 6.92%
4,913,185
– –
LH icon
4
Labcorp
LH
$27.3B
$121M 5.04%
883,098
-3,143
-0.4% -$415K
BRK.A icon
5
Berkshire Hathaway Class A
BRK.A
$1.06T
$116M 4.83%
390
– –
AGN
6
DELISTED
Allergan plc
AGN
$106M 4.43%
650,315
+126,505
+24% +$22.7M
MA icon
7
Mastercard
MA
$509B
$102M 4.23%
671,134
-38,510
-5% -$5.73M
GOOG icon
8
Alphabet (Google) Class C
GOOG
$4.18T
$99.2M 4.13%
1,895,620
-22,460
-1% -$1.14M
V icon
9
Visa
V
$693B
$90.1M 3.75%
789,802
-8,000
-1% -$883K
LSXMK
10
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
$68.9M 2.87%
2,281,261
+5,567
+0.2% +$177K
RWT
11
Redwood Trust
RWT
$603M
$67M 2.79%
4,519,250
+385,050
+9% +$5.97M
QVCGA
12
DELISTED
QVC Group Inc Series A
QVCGA
$63M 2.62%
53,119
-15,626
-23% -$18.1M
TFCFA
13
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$57M 2.37%
1,650,500
-249,800
-13% -$7.45M
ORCL icon
14
Oracle
ORCL
$422B
$55.9M 2.33%
1,182,892
+27,740
+2% +$1.36M
ENOV icon
15
Enovis
ENOV
$1.5B
$55.1M 2.29%
807,881
-15,396
-2% -$1.04M
TXN icon
16
Texas Instruments
TXN
$241B
$52.8M 2.2%
505,270
-30,500
-6% -$2.97M
AON icon
17
Aon
AON
$75.3B
$43.1M 1.8%
321,720
-210
-0.1% -$29.9K
LVNTA
18
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
$42.6M 1.77%
785,000
– –
DXC icon
19
DXC Technology
DXC
$1.73B
$42.3M 1.76%
514,813
+1,561
+0.3% +$126K
ALSN icon
20
Allison Transmission
ALSN
$11B
$33M 1.37%
765,100
– –
WFC icon
21
Wells Fargo
WFC
$254B
$32.8M 1.37%
540,932
-290,700
-35% -$16.4M
PX
22
DELISTED
Praxair Inc
PX
$31.3M 1.31%
202,592
-60
-0% -$8.9K
LILAK icon
23
Liberty Latin America Class C
LILAK
$1.64B
$30.6M 1.27%
1,796,544
+2,102
+0.1% +$39.5K
LBRDA
24
DELISTED
Liberty Broadband Class A
LBRDA
$29.8M 1.24%
350,000
– –
DISCK
25
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$26.3M 1.09%
1,241,300
+500,000
+67% +$9.2M
1
2 3 4

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Wallace Weitz's Q4 2017 Portfolio in Review

As of Q4 2017, Wallace Weitz held 83 positions worth $2.4B, down 1.3% from $2.43B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Wallace Weitz withdrew a net $134M in Q4 2017, closing 6 positions and reducing 23 holdings. Its most notable exit was United Parcel Service, an estimated $18.9M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 30% of assets, down from 31% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Wallace Weitz opened a new position in Booking.com worth $9.59M.

  • Wallace Weitz's largest Q4 2017 buy was Booking.com: 138,000 shares worth $9.59M.
  • Wallace Weitz added most to Allergan plc in Q4 2017, an estimated $22.7M increase.
  • Wallace Weitz's biggest Q4 2017 reduction was QVC Group Inc Series A, cutting an estimated $18.1M.
  • Wallace Weitz fully exited United Parcel Service in Q4 2017, selling an estimated $18.9M.
  • Wallace Weitz's ten largest holdings make up 53% of its $2.4B portfolio in Q4 2017.
  • Wallace Weitz opened 4 new positions and closed 6 in Q4 2017.
  • Wallace Weitz's portfolio value fell 1.3% quarter-over-quarter to $2.4B.

Based on Weitz Investment Management's 13F filing for Q4 2017, filed 14 Feb 2018.