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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
+7.04%
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
$2.55B
AUM Growth
+$88.2M
(+3.6%)
Cap. Flow
-$74.7M
Cap. Flow % of AUM
Cap. Flow %
-2.93%
Top 10 Holdings %
Top 10 Hldgs %
44.82%
Holding
72
New
1
Increased
11
Reduced
22
Closed
4
Avg Time Held
3.4
years
Top 10 Avg Time Held
3.4
years
Top 20 Avg Time Held
2.9
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Markel Group
MKL
|
+$32.2M |
| 2 |
Expedia Group
EXPE
|
+$27.6M |
| 3 |
First Hawaiian
FHB
|
+$4.5M |
| 4 |
Amazon
AMZN
|
+$3.54M |
| 5 |
Vulcan Materials
VMC
|
+$2.72M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Stanley Black & Decker
SWK
|
+$14.1M |
| 2 |
GLIBA
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
|
+$12.9M |
| 3 |
CarMax
KMX
|
+$12.8M |
| 4 |
CoreCard
CCRD
|
+$12.3M |
| 5 |
Mastercard
MA
|
+$11.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 29.91% |
| 2 | Communication Services | 24.45% |
| 3 | Technology | 16.17% |
| 4 | Consumer Discretionary | 9% |
| 5 | Healthcare | 7.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class A
BRK.A
$1.24T
| $189M | 7.43% |
558
| – | – |
2013 Q2
26 quarters
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.24T
| $182M | 7.14% |
803,271
-536
| -0.1% | -$116K |
2013 Q2
26 quarters
|
|
3
DELISTED
Liberty Broadband Class C
LBRDK
| $136M | 5.35% |
1,084,900
-70,000
| -6% | -$8.15M |
2014 Q4
20 quarters
|
|
4
Alphabet (Google) Class C
GOOG
$3.5T
| $126M | 4.93% |
1,879,600
-90,500
| -5% | -$5.84M |
2013 Q2
26 quarters
|
|
5
Labcorp
LH
$30.1B
| $91.8M | 3.6% |
631,383
-24,327
| -4% | -$3.51M |
2013 Q2
26 quarters
|
|
6
Visa
V
$789B
| $91.8M | 3.6% |
488,300
-43,240
| -8% | -$7.79M |
2016 Q3
13 quarters
|
|
|
7
Mastercard
MA
$574B
| $88.5M | 3.47% |
296,315
-40,525
| -12% | -$11.4M |
2014 Q4
20 quarters
|
|
8
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $79.3M | 3.11% |
2,164,065
| – | – |
2016 Q2
14 quarters
|
|
9
Liberty Global Class C
LBTYK
$3.33B
| $79.1M | 3.1% |
3,627,400
-50,000
| -1% | -$1.12M |
2013 Q2
26 quarters
|
|
10
Meta Platforms (Facebook)
META
$1.64T
| $78.8M | 3.09% |
384,100
-19,000
| -5% | -$3.68M |
2018 Q1
7 quarters
|
|
|
11
DELISTED
CoreCard
CCRD
| $75.1M | 2.95% |
1,880,905
-284,095
| -13% | -$12.3M |
2013 Q2
26 quarters
|
|
12
Charles Schwab
SCHW
$161B
| $70.7M | 2.77% |
1,486,300
-50,000
| -3% | -$2.2M |
2018 Q3
5 quarters
|
|
|
13
CarMax
KMX
$7.68B
| $59.3M | 2.33% |
676,350
-136,200
| -17% | -$12.8M |
2018 Q1
7 quarters
|
|
|
14
Markel Group
MKL
$24.1B
| $55.2M | 2.16% |
48,255
+28,255
| +141% | +$32.2M |
2018 Q1
7 quarters
|
|
15
Redwood Trust
RWT
$346M
| $53.8M | 2.11% |
3,250,500
-150,000
| -4% | -$2.47M |
2013 Q2
26 quarters
|
|
16
Booking.com
BKNG
$118B
| $52.8M | 2.07% |
643,250
| – | – |
2017 Q4
8 quarters
|
|
|
17
Vulcan Materials
VMC
$36.9B
| $47.9M | 1.88% |
332,710
+19,000
| +6% | +$2.72M |
2017 Q4
8 quarters
|
|
18
Aon
AON
$71.4B
| $46.7M | 1.83% |
224,000
+11,000
| +5% | +$2.18M |
2013 Q2
26 quarters
|
|
19
Enovis
ENOV
$1.63B
| $45.4M | 1.78% |
725,233
-84,245
| -10% | -$4.76M |
2015 Q4
16 quarters
|
|
|
BKI
20
DELISTED
Black Knight, Inc. Common Stock
BKI
| $43.8M | 1.72% |
679,900
-35,000
| -5% | -$2.17M |
2018 Q4
4 quarters
|
|
21
Oracle
ORCL
$368B
| $43.5M | 1.71% |
821,720
| – | – |
2013 Q2
26 quarters
|
|
22
Texas Instruments
TXN
$275B
| $42.6M | 1.67% |
332,450
-7,500
| -2% | -$926K |
2013 Q2
26 quarters
|
|
23
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| $41.2M | 1.61% |
1,751,833
-204,316
| -10% | -$4.64M |
2018 Q2
6 quarters
|
|
|
24
Amazon
AMZN
$2.93T
| $36M | 1.41% |
390,000
+40,000
| +11% | +$3.54M |
2015 Q4
16 quarters
|
|
25
Thermo Fisher Scientific
TMO
$266B
| $35.7M | 1.4% |
110,000
| – | – |
2016 Q4
12 quarters
|
|
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Wallace Weitz's Q4 2019 Portfolio in Review
As of Q4 2019, Wallace Weitz held 72 positions worth $2.55B, up 3.6% from $2.46B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Wallace Weitz's Q4 2019 filing shows 1 new, 11 increased, 22 reduced and 4 closed positions. Its largest new stake was First Hawaiian: 160,000 shares worth $4.62M. The largest sale was Stanley Black & Decker, an estimated $14.1M.
By sector, the portfolio is most concentrated in Financials at 30% of assets, up from 28% a quarter earlier, followed by Communication Services and Technology.
- Wallace Weitz's largest Q4 2019 buy was First Hawaiian: 160,000 shares worth $4.62M.
- Wallace Weitz added most to Markel Group in Q4 2019, an estimated $32.2M increase.
- Wallace Weitz's biggest Q4 2019 reduction was GCI Liberty, Inc. Class A Common Stock (DE), cutting an estimated $12.9M.
- Wallace Weitz fully exited Stanley Black & Decker in Q4 2019, selling an estimated $14.1M.
- Wallace Weitz's ten largest holdings make up 45% of its $2.55B portfolio in Q4 2019.
- Wallace Weitz opened 1 new position and closed 4 in Q4 2019.
- Wallace Weitz's portfolio value rose 3.6% quarter-over-quarter to $2.55B.
Based on Weitz Investment Management's 13F filing for Q4 2019, filed 13 Feb 2020.