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 |
AutoZone
AZO
|
+$47.3M |
| 2 |
Aon
AON
|
+$12.4M |
| 3 |
Fidelity National Information Services
FIS
|
+$9.83M |
| 4 |
Meta Platforms (Facebook)
META
|
+$8.89M |
| 5 |
DNB
Dun & Bradstreet
DNB
|
+$7.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Berkshire Hathaway Class A
BRK.A
|
+$194M |
| 2 |
Diageo
DEO
|
+$20.7M |
| 3 |
CarMax
KMX
|
+$18.9M |
| 4 |
SCHW
Charles Schwab
SCHW
|
+$15.3M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$14.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 28.86% |
| 2 | Communication Services | 24.05% |
| 3 | Technology | 15.38% |
| 4 | Consumer Discretionary | 9.47% |
| 5 | Materials | 7.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class B
BRK.B
$1.06T
| $145M | 6.39% |
566,300
-60,221
| -10% | -$14.6M |
|
2
Alphabet (Google) Class C
GOOG
$4.18T
| $128M | 5.65% |
1,237,200
-48,200
| -4% | -$4.78M |
|
3
Labcorp
LH
$27.3B
| $101M | 4.45% |
460,013
-71,237
| -13% | -$14.3M |
|
|
4
Aon
AON
$75.3B
| $97.3M | 4.3% |
422,850
+56,300
| +15% | +$12.4M |
|
|
LBRDK
5
DELISTED
Liberty Broadband Class C
LBRDK
| $92.3M | 4.08% |
615,000
+7,380
| +1% | +$1.12M |
|
|
SCHW
6
Charles Schwab
SCHW
$194B
| $91.9M | 4.06% |
1,410,000
-253,000
| -15% | -$15.3M |
|
7
Visa
V
$693B
| $88M | 3.88% |
415,500
-300
| -0.1% | -$63.1K |
|
8
Mastercard
MA
$509B
| $85.8M | 3.79% |
240,850
-215
| -0.1% | -$75K |
|
|
9
Meta Platforms (Facebook)
META
$1.4T
| $84.5M | 3.73% |
286,900
+33,000
| +13% | +$8.89M |
|
|
LSXMK
10
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $83M | 3.67% |
2,429,920
| – | – |
|
|
11
CarMax
KMX
$8.82B
| $75.6M | 3.34% |
569,700
-155,456
| -21% | -$18.9M |
|
12
Vulcan Materials
VMC
$35.8B
| $73.3M | 3.24% |
434,200
-24,500
| -5% | -$3.97M |
|
13
CoStar Group
CSGP
$13.1B
| $68.6M | 3.03% |
834,500
+35,000
| +4% | +$3.02M |
|
14
Markel Group
MKL
$22.2B
| $66.3M | 2.93% |
58,200
+1,250
| +2% | +$1.35M |
|
|
15
AutoZone
AZO
$48.3B
| $56.1M | 2.48% |
39,975
+38,225
| +2,184% | +$47.3M |
|
|
16
Fidelity National Information Services
FIS
$21.3B
| $55.1M | 2.43% |
392,000
+72,000
| +23% | +$9.83M |
|
17
Liberty Global Class C
LBTYK
$3.55B
| $53.8M | 2.38% |
2,106,000
| – | – |
|
18
Amazon
AMZN
$2.79T
| $41.8M | 1.84% |
270,000
+10,000
| +4% | +$1.59M |
|
19
Oracle
ORCL
$422B
| $38.1M | 1.68% |
542,500
-192,000
| -26% | -$12.4M |
|
20
Thermo Fisher Scientific
TMO
$233B
| $37.9M | 1.67% |
83,000
+1,500
| +2% | +$716K |
|
21
Analog Devices
ADI
$182B
| $37.6M | 1.66% |
242,500
-10,000
| -4% | -$1.54M |
|
22
Danaher
DHR
$154B
| $37.1M | 1.64% |
186,120
-5,640
| -3% | -$1.15M |
|
|
SUM
23
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| $36.4M | 1.61% |
1,322,710
-429,073
| -24% | -$10.8M |
|
24
Texas Instruments
TXN
$241B
| $35.9M | 1.59% |
190,200
-30,300
| -14% | -$5.26M |
|
25
Comcast
CMCSA
$95.3B
| $33M | 1.46% |
610,000
+15,000
| +3% | +$792K |
|
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Wallace Weitz's Q1 2021 Portfolio in Review
As of Q1 2021, Wallace Weitz held 68 positions worth $2.26B, down 3.5% from $2.35B the previous quarter. Its ten largest holdings account for 44% of the portfolio.
Wallace Weitz withdrew a net $274M in Q1 2021, closing 8 positions and reducing 25 holdings. Its most notable exit was Berkshire Hathaway Class A, an estimated $194M position sold in full.
By sector, the portfolio is most concentrated in Financials at 29% of assets, down from 35% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Wallace Weitz opened a new position in Dun & Bradstreet worth $7.14M.
- Wallace Weitz's largest Q1 2021 buy was Dun & Bradstreet: 300,000 shares worth $7.14M.
- Wallace Weitz added most to AutoZone in Q1 2021, an estimated $47.3M increase.
- Wallace Weitz's biggest Q1 2021 reduction was Diageo, cutting an estimated $20.7M.
- Wallace Weitz fully exited Berkshire Hathaway Class A in Q1 2021, selling an estimated $194M.
- Wallace Weitz's ten largest holdings make up 44% of its $2.26B portfolio in Q1 2021.
- Wallace Weitz opened 1 new position and closed 8 in Q1 2021.
- Wallace Weitz's portfolio value fell 3.5% quarter-over-quarter to $2.26B.
Based on Weitz Investment Management's 13F filing for Q1 2021, filed 13 May 2021.