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 |
Aon
AON
|
+$9.29M |
| 2 |
Fidelity National Information Services
FIS
|
+$9.13M |
| 3 |
CarMax
KMX
|
+$8.45M |
| 4 |
LBRDK
Liberty Broadband Class C
LBRDK
|
+$4.96M |
| 5 |
Markel Group
MKL
|
+$3.69M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Berkshire Hathaway Class B
BRK.B
|
+$18.8M |
| 2 |
RWT
Redwood Trust
RWT
|
+$10.4M |
| 3 |
SCHW
Charles Schwab
SCHW
|
+$8.57M |
| 4 |
GLIBA
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
|
+$7.29M |
| 5 |
Thermo Fisher Scientific
TMO
|
+$6.33M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 34.55% |
| 2 | Communication Services | 21.61% |
| 3 | Technology | 15.4% |
| 4 | Materials | 7.23% |
| 5 | Healthcare | 7.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $194M | 8.27% |
558
| – | – |
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.06T
| $145M | 6.19% |
626,521
-85,250
| -12% | -$18.8M |
|
3
Alphabet (Google) Class C
GOOG
$4.18T
| $113M | 4.8% |
1,285,400
| – | – |
|
|
LBRDK
4
DELISTED
Liberty Broadband Class C
LBRDK
| $96.2M | 4.1% |
607,620
+32,620
| +6% | +$4.96M |
|
5
Labcorp
LH
$27.3B
| $92.9M | 3.96% |
531,250
-11,640
| -2% | -$2.01M |
|
6
Visa
V
$693B
| $90.9M | 3.88% |
415,800
| – | – |
|
|
SCHW
7
Charles Schwab
SCHW
$194B
| $88.2M | 3.76% |
1,663,000
-189,300
| -10% | -$8.57M |
|
8
Mastercard
MA
$509B
| $86M | 3.67% |
241,065
| – | – |
|
|
LSXMK
9
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $81.9M | 3.49% |
2,429,920
+64,550
| +3% | +$1.97M |
|
|
10
Aon
AON
$75.3B
| $77.4M | 3.3% |
366,550
+45,500
| +14% | +$9.29M |
|
11
CoStar Group
CSGP
$13.1B
| $73.9M | 3.15% |
799,500
+500
| +0.1% | +$43.8K |
|
12
Meta Platforms (Facebook)
META
$1.4T
| $69.4M | 2.96% |
253,900
| – | – |
|
|
13
CarMax
KMX
$8.82B
| $68.5M | 2.92% |
725,156
+90,156
| +14% | +$8.45M |
|
14
Vulcan Materials
VMC
$35.8B
| $68M | 2.9% |
458,700
-12,500
| -3% | -$1.78M |
|
|
15
Markel Group
MKL
$22.2B
| $58.8M | 2.51% |
56,950
+3,700
| +7% | +$3.69M |
|
16
Liberty Global Class C
LBTYK
$3.55B
| $49.8M | 2.12% |
2,106,000
+20,000
| +1% | +$433K |
|
17
Oracle
ORCL
$422B
| $47.5M | 2.03% |
734,500
-35,000
| -5% | -$2.08M |
|
|
18
Fidelity National Information Services
FIS
$21.3B
| $45.3M | 1.93% |
320,000
+64,000
| +25% | +$9.13M |
|
19
Amazon
AMZN
$2.79T
| $42.3M | 1.8% |
260,000
| – | – |
|
|
20
Thermo Fisher Scientific
TMO
$233B
| $38M | 1.62% |
81,500
-13,500
| -14% | -$6.33M |
|
21
Danaher
DHR
$154B
| $37.8M | 1.61% |
191,760
-22,560
| -11% | -$4.52M |
|
22
Analog Devices
ADI
$182B
| $37.3M | 1.59% |
252,500
-15,000
| -6% | -$1.99M |
|
23
Texas Instruments
TXN
$241B
| $36.2M | 1.54% |
220,500
-27,500
| -11% | -$4.28M |
|
|
BKI
24
DELISTED
Black Knight, Inc. Common Stock
BKI
| $34.7M | 1.48% |
393,000
-17,000
| -4% | -$1.54M |
|
|
SUM
25
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| $34.6M | 1.47% |
1,751,783
| – | – |
|
Similar funds
Wallace Weitz's Q4 2020 Portfolio in Review
As of Q4 2020, Wallace Weitz held 68 positions worth $2.35B, up 9.9% from $2.13B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Wallace Weitz withdrew a net $71M in Q4 2020, closing 1 position and reducing 21 holdings. Its most notable exit was GCI Liberty, Inc. Class A Common Stock (DE), an estimated $7.29M position sold in full.
By sector, the portfolio is most concentrated in Financials at 35% of assets, down from 35% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Wallace Weitz opened a new position in AutoZone worth $2.08M.
- Wallace Weitz's largest Q4 2020 buy was AutoZone: 1,750 shares worth $2.08M.
- Wallace Weitz added most to Aon in Q4 2020, an estimated $9.29M increase.
- Wallace Weitz's biggest Q4 2020 reduction was Berkshire Hathaway Class B, cutting an estimated $18.8M.
- Wallace Weitz fully exited GCI Liberty, Inc. Class A Common Stock (DE) in Q4 2020, selling an estimated $7.29M.
- Wallace Weitz's ten largest holdings make up 45% of its $2.35B portfolio in Q4 2020.
- Wallace Weitz opened 1 new position and closed 1 in Q4 2020.
- Wallace Weitz's portfolio value rose 9.9% quarter-over-quarter to $2.35B.
Based on Weitz Investment Management's 13F filing for Q4 2020, filed 10 Feb 2021.