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Wallace Weitz Weitz Investment Management
AUM
$1.46B
Turnover
11.54%
1-Year Est. Return
5.9%
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.
This Fund
S&P 500
This Quarter Est. Return
+9.34%
1 Year Est. Return
+5.9%
3 Year Est. Return
+44.83%
5 Year Est. Return
+45.22%
10 Year Est. Return
+222.84%
AUM
$1.9B
AUM Growth
+$79.2M
(+4.4%)
Cap. Flow
-$79.7M
Cap. Flow % of AUM
Cap. Flow %
-4.2%
Top 10 Holdings %
Top 10 Hldgs %
45.07%
Holding
55
New
2
Increased
6
Reduced
24
Closed
–
Avg Time Held
5.7
years
Top 10 Avg Time Held
3.8
years
Top 20 Avg Time Held
5
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Veralto
VLTO
|
+$26.8M |
| 2 |
Global Payments
GPN
|
+$26.6M |
| 3 |
Charter Communications
CHTR
|
+$4.08M |
| 4 |
ACI Worldwide
ACIW
|
+$2.18M |
| 5 |
CarMax
KMX
|
+$2.02M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Gartner
IT
|
+$22.6M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$16.6M |
| 3 |
Adobe
ADBE
|
+$15.9M |
| 4 |
Roper Technologies
ROP
|
+$15.6M |
| 5 |
Guidewire Software
GWRE
|
+$8.92M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 22.2% |
| 2 | Communication Services | 21.6% |
| 3 | Technology | 19.66% |
| 4 | Healthcare | 10.87% |
| 5 | Industrials | 7.36% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class B
BRK.B
$1.25T
| $126M | 6.66% |
354,450
-7,500
| -2% | -$2.63M |
2013 Q2
42 quarters
|
|
|
2
Alphabet (Google) Class C
GOOG
$3.63T
| $121M | 6.39% |
860,950
-122,250
| -12% | -$16.6M |
2013 Q2
42 quarters
|
|
3
Visa
V
$784B
| $94.8M | 5% |
364,200
-10,000
| -3% | -$2.46M |
2016 Q3
29 quarters
|
|
4
Mastercard
MA
$569B
| $86.7M | 4.57% |
203,350
-10,000
| -5% | -$4.02M |
2014 Q4
36 quarters
|
|
5
Danaher
DHR
$163B
| $80.5M | 4.24% |
348,010
-21,703
| -6% | -$4.62M |
2017 Q3
25 quarters
|
|
6
Meta Platforms (Facebook)
META
$1.59T
| $80.1M | 4.22% |
226,275
-5,000
| -2% | -$1.63M |
2018 Q1
23 quarters
|
|
7
CoStar Group
CSGP
$12.1B
| $76.6M | 4.04% |
876,500
-70,500
| -7% | -$5.71M |
2020 Q1
15 quarters
|
|
8
Thermo Fisher Scientific
TMO
$259B
| $66.4M | 3.5% |
125,080
| – | – |
2016 Q4
28 quarters
|
|
9
Vulcan Materials
VMC
$36B
| $62.9M | 3.32% |
277,300
-25,500
| -8% | -$5.4M |
2017 Q4
24 quarters
|
|
10
Labcorp
LH
$30.2B
| $59.4M | 3.13% |
261,350
-22,000
| -8% | -$4.62M |
2013 Q2
42 quarters
|
|
|
11
CarMax
KMX
$7.46B
| $57.5M | 3.03% |
749,500
+30,000
| +4% | +$2.02M |
2018 Q1
23 quarters
|
|
12
DELISTED
Liberty Broadband Class C
LBRDK
| $55.2M | 2.91% |
685,500
+20,000
| +3% | +$1.68M |
2014 Q4
36 quarters
|
|
13
Amazon
AMZN
$2.89T
| $53.9M | 2.84% |
355,000
-40,000
| -10% | -$5.61M |
2015 Q4
32 quarters
|
|
14
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $51M | 2.69% |
1,771,813
-16,187
| -0.9% | -$425K |
2016 Q2
30 quarters
|
|
15
Analog Devices
ADI
$198B
| $45.5M | 2.4% |
229,200
-11,000
| -5% | -$1.96M |
2018 Q4
20 quarters
|
|
16
Aon
AON
$70.7B
| $42.1M | 2.22% |
144,650
| – | – |
2013 Q2
42 quarters
|
|
|
17
Roper Technologies
ROP
$47.3B
| $39.3M | 2.07% |
72,100
-30,200
| -30% | -$15.6M |
2021 Q2
10 quarters
|
|
18
Equifax
EFX
$21.9B
| $38M | 2% |
153,500
+7,500
| +5% | +$1.52M |
2023 Q3
1 quarter
|
|
|
19
Gartner
IT
$12B
| $37.7M | 1.99% |
83,500
-56,550
| -40% | -$22.6M |
2022 Q1
7 quarters
|
|
20
Markel Group
MKL
$24B
| $35.8M | 1.89% |
25,190
-4,000
| -14% | -$5.67M |
2018 Q1
23 quarters
|
|
21
Accenture
ACN
$148B
| $34M | 1.79% |
97,000
-5,000
| -5% | -$1.61M |
2013 Q2
42 quarters
|
|
22
Salesforce
CRM
$179B
| $32.9M | 1.73% |
125,000
| – | – |
2019 Q3
17 quarters
|
|
23
S&P Global
SPGI
$136B
| $31.4M | 1.66% |
71,375
| – | – |
2020 Q1
15 quarters
|
|
24
Oracle
ORCL
$396B
| $30.1M | 1.59% |
285,500
| – | – |
2013 Q2
42 quarters
|
|
|
25
Veralto
VLTO
$28.6B
| $29.5M | 1.56% |
+358,699
| New | +$26.8M |
2023 Q4
0 quarters
|
|
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Wallace Weitz's Q4 2023 Portfolio in Review
As of Q4 2023, Wallace Weitz held 55 positions worth $1.9B, up 4.4% from $1.82B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Wallace Weitz withdrew a net $79.7M in Q4 2023, reducing 24 holdings. Its largest reduction was Gartner, cutting an estimated $22.6M.
By sector, the portfolio is most concentrated in Financials at 22% of assets, down from 23% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Wallace Weitz opened a new position in Veralto worth $29.5M.
- Wallace Weitz's largest Q4 2023 buy was Veralto: 358,699 shares worth $29.5M.
- Wallace Weitz added most to Charter Communications in Q4 2023, an estimated $4.08M increase.
- Wallace Weitz's biggest Q4 2023 reduction was Gartner, cutting an estimated $22.6M.
- Wallace Weitz's ten largest holdings make up 45% of its $1.9B portfolio in Q4 2023.
- Wallace Weitz opened 2 new positions and closed 0 in Q4 2023.
- Wallace Weitz's portfolio value rose 4.4% quarter-over-quarter to $1.9B.
Based on Weitz Investment Management's 13F filing for Q4 2023, filed 12 Feb 2024.