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 |
CoStar Group
CSGP
|
+$42.3M |
| 2 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$33M |
| 3 |
S&P Global
SPGI
|
+$18.8M |
| 4 |
Vulcan Materials
VMC
|
+$14.3M |
| 5 |
HEICO Corp Class A
HEI.A
|
+$14.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Booking.com
BKNG
|
+$52.8M |
| 2 |
Enovis
ENOV
|
+$45.4M |
| 3 |
Expedia Group
EXPE
|
+$24.9M |
| 4 |
LBRDK
Liberty Broadband Class C
LBRDK
|
+$22.3M |
| 5 |
Dollar Tree
DLTR
|
+$18.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.22% |
| 2 | Communication Services | 24.71% |
| 3 | Technology | 15.96% |
| 4 | Healthcare | 6.66% |
| 5 | Materials | 6.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $152M | 8.05% |
558
| – | – |
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.06T
| $145M | 7.68% |
791,771
-11,500
| -1% | -$2.44M |
|
3
Alphabet (Google) Class C
GOOG
$4.18T
| $105M | 5.55% |
1,798,000
-81,600
| -4% | -$5.54M |
|
|
LBRDK
4
DELISTED
Liberty Broadband Class C
LBRDK
| $100M | 5.32% |
905,656
-179,244
| -17% | -$22.3M |
|
5
Visa
V
$693B
| $77.1M | 4.09% |
478,300
-10,000
| -2% | -$1.88M |
|
6
Mastercard
MA
$509B
| $70.9M | 3.76% |
293,565
-2,750
| -0.9% | -$818K |
|
7
Labcorp
LH
$27.3B
| $66.6M | 3.53% |
613,253
-18,130
| -3% | -$2.61M |
|
8
Meta Platforms (Facebook)
META
$1.4T
| $63.4M | 3.36% |
380,100
-4,000
| -1% | -$783K |
|
9
Liberty Global Class C
LBTYK
$3.55B
| $56.8M | 3.01% |
3,613,000
-14,400
| -0.4% | -$271K |
|
|
LSXMK
10
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $52.4M | 2.78% |
2,176,210
+12,145
| +0.6% | +$407K |
|
|
CCRD
11
DELISTED
CoreCard
CCRD
| $52.3M | 2.78% |
1,539,000
-341,905
| -18% | -$12.8M |
|
12
Markel Group
MKL
$22.2B
| $51M | 2.71% |
55,002
+6,747
| +14% | +$7.72M |
|
|
13
Vulcan Materials
VMC
$35.8B
| $48M | 2.55% |
444,400
+111,690
| +34% | +$14.3M |
|
|
SCHW
14
Charles Schwab
SCHW
$194B
| $42.5M | 2.25% |
1,262,850
-223,450
| -15% | -$9.38M |
|
15
Oracle
ORCL
$422B
| $41.1M | 2.18% |
850,900
+29,180
| +4% | +$1.51M |
|
16
Aon
AON
$75.3B
| $38.9M | 2.06% |
235,800
+11,800
| +5% | +$2.42M |
|
|
17
CoStar Group
CSGP
$13.1B
| $38.1M | 2.02% |
+649,000
| New | +$42.3M |
|
18
Amazon
AMZN
$2.79T
| $38M | 2.02% |
390,000
| – | – |
|
19
CarMax
KMX
$8.82B
| $36.9M | 1.96% |
686,400
+10,050
| +1% | +$850K |
|
|
BKI
20
DELISTED
Black Knight, Inc. Common Stock
BKI
| $33.9M | 1.8% |
584,400
-95,500
| -14% | -$6.25M |
|
21
Thermo Fisher Scientific
TMO
$233B
| $31.2M | 1.66% |
110,000
| – | – |
|
22
Texas Instruments
TXN
$241B
| $30.1M | 1.6% |
301,300
-31,150
| -9% | -$3.74M |
|
23
JPMorgan Chase
JPM
$935B
| $28.1M | 1.49% |
312,000
+68,500
| +28% | +$8.32M |
|
24
Danaher
DHR
$154B
| $27.7M | 1.47% |
225,600
| – | – |
|
|
SUM
25
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| $27.3M | 1.45% |
1,852,160
+100,327
| +6% | +$1.95M |
|
Similar funds
Wallace Weitz's Q1 2020 Portfolio in Review
As of Q1 2020, Wallace Weitz held 75 positions worth $1.88B, down 26% from $2.55B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Wallace Weitz withdrew a net $115M in Q1 2020, closing 6 positions and reducing 22 holdings. Its most notable exit was Booking.com, an estimated $52.8M position sold in full.
By sector, the portfolio is most concentrated in Financials at 33% of assets, up from 30% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Wallace Weitz opened a new position in CoStar Group worth $38.1M.
- Wallace Weitz's largest Q1 2020 buy was CoStar Group: 649,000 shares worth $38.1M.
- Wallace Weitz added most to Vulcan Materials in Q1 2020, an estimated $14.3M increase.
- Wallace Weitz's biggest Q1 2020 reduction was Expedia Group, cutting an estimated $24.9M.
- Wallace Weitz fully exited Booking.com in Q1 2020, selling an estimated $52.8M.
- Wallace Weitz's ten largest holdings make up 47% of its $1.88B portfolio in Q1 2020.
- Wallace Weitz opened 7 new positions and closed 6 in Q1 2020.
- Wallace Weitz's portfolio value fell 26% quarter-over-quarter to $1.88B.
Based on Weitz Investment Management's 13F filing for Q1 2020, filed 11 May 2020.