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 |
Microsoft
MSFT
|
+$9.6M |
| 2 |
Meta Platforms (Facebook)
META
|
+$8.28M |
| 3 |
Oracle
ORCL
|
+$5.7M |
| 4 |
CarMax
KMX
|
+$2.9M |
| 5 |
FRC
First Republic Bank
FRC
|
+$2.25M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CoStar Group
CSGP
|
+$11.1M |
| 2 |
MarketAxess Holdings
MKTX
|
+$9.78M |
| 3 |
DNB
Dun & Bradstreet
DNB
|
+$8.84M |
| 4 |
Roper Technologies
ROP
|
+$6.18M |
| 5 |
Visa
V
|
+$6.05M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 27% |
| 2 | Technology | 21.21% |
| 3 | Communication Services | 20.21% |
| 4 | Healthcare | 9.26% |
| 5 | Materials | 7.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class B
BRK.B
$1.06T
| $118M | 6.66% |
380,450
-20,000
| -5% | -$5.94M |
|
2
Alphabet (Google) Class C
GOOG
$4.18T
| $101M | 5.74% |
1,140,560
+500
| +0% | +$47.7K |
|
|
3
CoStar Group
CSGP
$13.1B
| $85.5M | 4.84% |
1,105,800
-141,900
| -11% | -$11.1M |
|
|
4
Visa
V
$693B
| $80.1M | 4.54% |
385,600
-30,000
| -7% | -$6.05M |
|
5
Mastercard
MA
$509B
| $77.9M | 4.42% |
224,050
-10,000
| -4% | -$3.29M |
|
6
Danaher
DHR
$154B
| $63.9M | 3.62% |
271,521
-7,695
| -3% | -$1.78M |
|
|
LSXMK
7
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $63.3M | 3.59% |
2,087,805
-64,550
| -3% | -$2.06M |
|
8
Labcorp
LH
$27.3B
| $62.1M | 3.52% |
306,889
-2,793
| -0.9% | -$546K |
|
|
SCHW
9
Charles Schwab
SCHW
$194B
| $60.5M | 3.43% |
726,426
-45,224
| -6% | -$3.51M |
|
|
10
Meta Platforms (Facebook)
META
$1.4T
| $59.3M | 3.36% |
492,800
+70,550
| +17% | +$8.28M |
|
11
Vulcan Materials
VMC
$35.8B
| $58.4M | 3.31% |
333,600
-9,500
| -3% | -$1.62M |
|
|
LBRDK
12
DELISTED
Liberty Broadband Class C
LBRDK
| $57.2M | 3.24% |
749,700
-22,000
| -3% | -$1.79M |
|
|
13
CarMax
KMX
$8.82B
| $51.2M | 2.9% |
840,500
+45,200
| +6% | +$2.9M |
|
14
Markel Group
MKL
$22.2B
| $49.3M | 2.79% |
37,390
-1,950
| -5% | -$2.41M |
|
15
Gartner
IT
$12.4B
| $47M | 2.67% |
139,890
| – | – |
|
16
Fidelity National Information Services
FIS
$21.3B
| $45.9M | 2.6% |
675,900
| – | – |
|
17
Aon
AON
$75.3B
| $44.4M | 2.52% |
147,900
| – | – |
|
|
18
Roper Technologies
ROP
$40.7B
| $39.9M | 2.26% |
92,300
-15,000
| -14% | -$6.18M |
|
19
Analog Devices
ADI
$182B
| $39.4M | 2.23% |
240,400
-15,000
| -6% | -$2.34M |
|
20
Thermo Fisher Scientific
TMO
$233B
| $37.4M | 2.12% |
67,960
-5,000
| -7% | -$2.65M |
|
|
21
Oracle
ORCL
$422B
| $35.6M | 2.02% |
435,500
+75,000
| +21% | +$5.7M |
|
22
Amazon
AMZN
$2.79T
| $33.6M | 1.9% |
400,000
| – | – |
|
23
Liberty Global Class C
LBTYK
$3.55B
| $33.2M | 1.88% |
1,711,000
-210,000
| -11% | -$3.97M |
|
24
Texas Instruments
TXN
$241B
| $29.9M | 1.7% |
181,201
| – | – |
|
25
S&P Global
SPGI
$127B
| $24.7M | 1.4% |
73,875
| – | – |
|
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Wallace Weitz's Q4 2022 Portfolio in Review
As of Q4 2022, Wallace Weitz held 59 positions worth $1.76B, up 3.8% from $1.7B the previous quarter. Its ten largest holdings account for 44% of the portfolio.
Wallace Weitz withdrew a net $85.9M in Q4 2022, closing 1 position and reducing 28 holdings. Its most notable exit was Dun & Bradstreet, an estimated $8.84M position sold in full.
By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 26% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Wallace Weitz opened a new position in Charter Communications worth $1.7M.
- Wallace Weitz's largest Q4 2022 buy was Charter Communications: 5,000 shares worth $1.7M.
- Wallace Weitz added most to Microsoft in Q4 2022, an estimated $9.6M increase.
- Wallace Weitz's biggest Q4 2022 reduction was CoStar Group, cutting an estimated $11.1M.
- Wallace Weitz fully exited Dun & Bradstreet in Q4 2022, selling an estimated $8.84M.
- Wallace Weitz's ten largest holdings make up 44% of its $1.76B portfolio in Q4 2022.
- Wallace Weitz opened 1 new position and closed 1 in Q4 2022.
- Wallace Weitz's portfolio value rose 3.8% quarter-over-quarter to $1.76B.
Based on Weitz Investment Management's 13F filing for Q4 2022, filed 9 Feb 2023.