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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
+6.51%
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
$2.46B
AUM Growth
+$104M
(+4.4%)
Cap. Flow
-$80.5M
Cap. Flow % of AUM
Cap. Flow %
-3.28%
Top 10 Holdings %
Top 10 Hldgs %
50.55%
Holding
80
New
1
Increased
14
Reduced
24
Closed
1
Avg Time Held
2.6
years
Top 10 Avg Time Held
2.6
years
Top 20 Avg Time Held
2.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Charles Schwab
SCHW
|
+$42.9M |
| 2 |
Summit Materials, Inc. Class A Common Stock
SUM
|
+$31.3M |
| 3 |
Marvell Technology
MRVL
|
+$26.4M |
| 4 |
Meta Platforms (Facebook)
META
|
+$18.3M |
| 5 |
Vulcan Materials
VMC
|
+$13.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Berkshire Hathaway Class B
BRK.B
|
+$42.6M |
| 2 |
AGN
Allergan plc
AGN
|
+$26.6M |
| 3 |
Visa
V
|
+$18.9M |
| 4 |
Liberty Broadband Class C
LBRDK
|
+$18.7M |
| 5 |
DISCK
Discovery, Inc. Series C Common Stock
DISCK
|
+$14.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 29.76% |
| 2 | Financials | 28.66% |
| 3 | Healthcare | 12.37% |
| 4 | Technology | 10.41% |
| 5 | Consumer Discretionary | 5.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class B
BRK.B
$1.16T
| $197M | 8.03% |
921,538
-207,654
| -18% | -$42.6M |
2013 Q2
21 quarters
|
|
2
Berkshire Hathaway Class A
BRK.A
$1.16T
| $180M | 7.35% |
564
| – | – |
2013 Q2
21 quarters
|
|
|
3
DELISTED
Liberty Broadband Class C
LBRDK
| $162M | 6.59% |
1,920,627
-234,375
| -11% | -$18.7M |
2014 Q4
15 quarters
|
|
4
Liberty Global Class C
LBTYK
$2.65B
| $122M | 4.97% |
4,338,707
+189,500
| +5% | +$5.11M |
2013 Q2
21 quarters
|
|
5
Alphabet (Google) Class C
GOOG
$3.88T
| $114M | 4.64% |
1,910,100
+5,440
| +0.3% | +$326K |
2013 Q2
21 quarters
|
|
6
Labcorp
LH
$26.7B
| $107M | 4.34% |
714,693
-1,455
| -0.2% | -$221K |
2013 Q2
21 quarters
|
|
7
Mastercard
MA
$546B
| $102M | 4.15% |
457,478
-36,627
| -7% | -$7.64M |
2014 Q4
15 quarters
|
|
|
8
Visa
V
$766B
| $96.7M | 3.94% |
644,585
-132,871
| -17% | -$18.9M |
2016 Q3
8 quarters
|
|
|
AGN
9
DELISTED
Allergan plc
AGN
| $96.2M | 3.92% |
505,270
-144,771
| -22% | -$26.6M |
2015 Q3
12 quarters
|
|
10
Oracle
ORCL
$382B
| $64.5M | 2.62% |
1,250,213
-165,150
| -12% | -$8.02M |
2013 Q2
21 quarters
|
|
|
11
Meta Platforms (Facebook)
META
$1.64T
| $62.6M | 2.55% |
380,793
+101,300
| +36% | +$18.3M |
2018 Q1
2 quarters
|
|
12
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $62.4M | 2.54% |
1,884,086
| – | – |
2016 Q2
9 quarters
|
|
13
Enovis
ENOV
$1.22B
| $60M | 2.44% |
967,307
| – | – |
2015 Q4
11 quarters
|
|
14
Redwood Trust
RWT
$399M
| $57.5M | 2.34% |
3,540,400
-190,700
| -5% | -$3.16M |
2013 Q2
21 quarters
|
|
15
DXC Technology
DXC
$2.57B
| $51.1M | 2.08% |
546,852
+59,000
| +12% | +$5.22M |
2017 Q2
5 quarters
|
|
16
Aon
AON
$64.4B
| $49.3M | 2.01% |
320,841
-2,000
| -0.6% | -$293K |
2013 Q2
21 quarters
|
|
17
CarMax
KMX
$7.32B
| $48.7M | 1.98% |
651,870
+58,720
| +10% | +$4.48M |
2018 Q1
2 quarters
|
|
|
18
Charles Schwab
SCHW
$157B
| $41.2M | 1.68% |
+839,139
| New | +$42.9M |
2018 Q3
0 quarters
|
|
19
Texas Instruments
TXN
$260B
| $41.2M | 1.68% |
384,270
| – | – |
2013 Q2
21 quarters
|
|
|
QVCGA
20
DELISTED
QVC Group Inc Series A
QVCGA
| $39.1M | 1.59% |
36,241
| – | – |
2013 Q2
21 quarters
|
|
21
Comcast
CMCSA
$80.6B
| $38.3M | 1.56% |
1,082,098
+161,201
| +18% | +$5.71M |
2015 Q4
11 quarters
|
|
22
Liberty Latin America Class C
LILAK
$1.57B
| $32.1M | 1.31% |
1,819,822
+75,933
| +4% | +$1.28M |
2015 Q3
12 quarters
|
|
|
23
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| $29.1M | 1.19% |
1,629,437
+1,441,292
| +766% | +$31.3M |
2018 Q2
1 quarter
|
|
|
24
DELISTED
Liberty Broadband Class A
LBRDA
| $28.7M | 1.17% |
340,000
-10,000
| -3% | -$796K |
2014 Q4
15 quarters
|
|
25
Wells Fargo
WFC
$247B
| $28.4M | 1.16% |
541,196
| – | – |
2013 Q2
21 quarters
|
|
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Wallace Weitz's Q3 2018 Portfolio in Review
As of Q3 2018, Wallace Weitz held 80 positions worth $2.46B, up 4.4% from $2.35B the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Wallace Weitz withdrew a net $80.5M in Q3 2018, closing 1 position and reducing 24 holdings. Its most notable exit was Xo Group Inc, an estimated $132K position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 30% of assets, down from 30% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Wallace Weitz opened a new position in Charles Schwab worth $41.2M.
- Wallace Weitz's largest Q3 2018 buy was Charles Schwab: 839,139 shares worth $41.2M.
- Wallace Weitz added most to Summit Materials, Inc. Class A Common Stock in Q3 2018, an estimated $31.3M increase.
- Wallace Weitz's biggest Q3 2018 reduction was Berkshire Hathaway Class B, cutting an estimated $42.6M.
- Wallace Weitz fully exited Xo Group Inc in Q3 2018, selling an estimated $132K.
- Wallace Weitz's ten largest holdings make up 51% of its $2.46B portfolio in Q3 2018.
- Wallace Weitz opened 1 new position and closed 1 in Q3 2018.
- Wallace Weitz's portfolio value rose 4.4% quarter-over-quarter to $2.46B.
Based on Weitz Investment Management's 13F filing for Q3 2018, filed 13 Nov 2018.