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 |
Fidelity National Information Services
FIS
|
+$37M |
| 2 |
FRC
First Republic Bank
FRC
|
+$10.1M |
| 3 |
QVCGA
QVC Group Inc Series A
QVCGA
|
+$7.35M |
| 4 |
Aon
AON
|
+$6.73M |
| 5 |
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
|
+$6.12M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$32.1M |
| 2 |
LBRDK
Liberty Broadband Class C
LBRDK
|
+$22.5M |
| 3 |
Meta Platforms (Facebook)
META
|
+$21.5M |
| 4 |
Berkshire Hathaway Class B
BRK.B
|
+$16.4M |
| 5 |
RWT
Redwood Trust
RWT
|
+$10.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 34.82% |
| 2 | Communication Services | 20.37% |
| 3 | Technology | 16% |
| 4 | Healthcare | 8% |
| 5 | Materials | 7.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $179M | 8.37% |
558
| – | – |
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.06T
| $152M | 7.1% |
711,771
-80,000
| -10% | -$16.4M |
|
|
3
Alphabet (Google) Class C
GOOG
$4.18T
| $94.5M | 4.42% |
1,285,400
-420,600
| -25% | -$32.1M |
|
4
Labcorp
LH
$27.3B
| $87.8M | 4.11% |
542,890
+18,042
| +3% | +$2.86M |
|
5
Visa
V
$693B
| $83.1M | 3.9% |
415,800
-12,500
| -3% | -$2.5M |
|
|
LBRDK
6
DELISTED
Liberty Broadband Class C
LBRDK
| $82.2M | 3.85% |
575,000
-163,800
| -22% | -$22.5M |
|
7
Mastercard
MA
$509B
| $81.5M | 3.82% |
241,065
-25,000
| -9% | -$8.13M |
|
8
CoStar Group
CSGP
$13.1B
| $67.8M | 3.18% |
799,000
| – | – |
|
|
SCHW
9
Charles Schwab
SCHW
$194B
| $67.1M | 3.14% |
1,852,300
+165,000
| +10% | +$5.74M |
|
|
10
Meta Platforms (Facebook)
META
$1.4T
| $66.5M | 3.12% |
253,900
-83,300
| -25% | -$21.5M |
|
|
11
Aon
AON
$75.3B
| $66.2M | 3.1% |
321,050
+33,700
| +12% | +$6.73M |
|
12
Vulcan Materials
VMC
$35.8B
| $63.9M | 2.99% |
471,200
| – | – |
|
|
LSXMK
13
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $60.6M | 2.84% |
2,365,370
+225,925
| +11% | +$6.12M |
|
14
CarMax
KMX
$8.82B
| $58.4M | 2.73% |
635,000
-15,000
| -2% | -$1.5M |
|
15
Markel Group
MKL
$22.2B
| $51.9M | 2.43% |
53,250
-1,200
| -2% | -$1.22M |
|
16
Oracle
ORCL
$422B
| $45.9M | 2.15% |
769,500
-30,000
| -4% | -$1.7M |
|
17
Liberty Global Class C
LBTYK
$3.55B
| $42.8M | 2.01% |
2,086,000
| – | – |
|
18
Thermo Fisher Scientific
TMO
$233B
| $41.9M | 1.97% |
95,000
-15,000
| -14% | -$6.2M |
|
19
Amazon
AMZN
$2.79T
| $40.9M | 1.92% |
260,000
-60,000
| -19% | -$9.46M |
|
20
Danaher
DHR
$154B
| $40.9M | 1.92% |
214,320
-11,280
| -5% | -$2.01M |
|
|
21
Fidelity National Information Services
FIS
$21.3B
| $37.7M | 1.77% |
+256,000
| New | +$37M |
|
|
BKI
22
DELISTED
Black Knight, Inc. Common Stock
BKI
| $35.7M | 1.67% |
410,000
-30,500
| -7% | -$2.4M |
|
23
Texas Instruments
TXN
$241B
| $35.4M | 1.66% |
248,000
-7,700
| -3% | -$1.05M |
|
|
CCRD
24
DELISTED
CoreCard
CCRD
| $34.7M | 1.63% |
890,000
-108,497
| -11% | -$3.79M |
|
25
Analog Devices
ADI
$182B
| $31.2M | 1.46% |
267,500
| – | – |
|
Similar funds
Wallace Weitz's Q3 2020 Portfolio in Review
As of Q3 2020, Wallace Weitz held 67 positions worth $2.13B, up 6% from $2.01B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Wallace Weitz withdrew a net $98.4M in Q3 2020, closing 1 position and reducing 23 holdings. Its most notable exit was Equity Commonwealth, an estimated $4.67M position sold in full.
By sector, the portfolio is most concentrated in Financials at 35% of assets, up from 33% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Wallace Weitz opened a new position in Fidelity National Information Services worth $37.7M.
- Wallace Weitz's largest Q3 2020 buy was Fidelity National Information Services: 256,000 shares worth $37.7M.
- Wallace Weitz added most to QVC Group Inc Series A in Q3 2020, an estimated $7.35M increase.
- Wallace Weitz's biggest Q3 2020 reduction was Alphabet (Google) Class C, cutting an estimated $32.1M.
- Wallace Weitz fully exited Equity Commonwealth in Q3 2020, selling an estimated $4.67M.
- Wallace Weitz's ten largest holdings make up 45% of its $2.13B portfolio in Q3 2020.
- Wallace Weitz opened 2 new positions and closed 1 in Q3 2020.
- Wallace Weitz's portfolio value rose 6% quarter-over-quarter to $2.13B.
Based on Weitz Investment Management's 13F filing for Q3 2020, filed 12 Nov 2020.