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Wallace Weitz Buys Martin Marietta Materials Inc., TrueBlue Inc, Leap Wireless International Inc., Sells Countrywide Financial Corp., Berkshire Hathaway Inc., Apollo Group Inc.

After a bad year in 2007, Wally Weitz wrote “We are glad that 2007 is history.” His holdings in Countrywide and other financials hurt his funds’ performances. As a long time successful investor, he said “For those with the courage and patience to buy good assets when nobody else wants them or can afford to buy them, we think this is a very good time for investing.” These are his buys and sells during the last quarter.

Wallace Weitz buys Martin Marietta Materials Inc., TrueBlue Inc, Leap Wireless International Inc., Carter's Inc., sells Tyco Electronics Ltd., Telephone And Data Systems Inc, Apollo Group Inc., Labor Ready Inc., Iron Mountain Inc., Corinthian Colleges Inc., Countrywide Financial Corp. during the 3-months ended 12/31/2007, according to the most recent filings of his investment company, Weitz Wallace R & Co. Wallace Weitz owns 51 stocks with a total value of $4 billion. These are the details of the buys and sells.

Added: Bed Bath & Beyond Inc. (BBBY)

Wallace Weitz added to his holdings in Specialty Retailers company Bed Bath & Beyond Inc. by 72730.1%. His purchase prices were between $29.11 and $35.06, with an estimated average price of $31.5. The impact to his portfolio due to this purchase was 0.91%. His holdings were 1,249,037 shares as of 12/31/2007.

Bed Bath & Beyond, Inc. and its subsidiaries operate a chain of retail stores in the United States and Canada. It sells a range of domestic merchandise, such as bed linens and related items, bath items, and kitchen textiles; and home furnishing etc. Bed Bath & Beyond Inc. has a market cap of $7.75 billion; its shares were traded at around $30.74 with a P/E ratio of 13.61 and P/S ratio of 1.13.

Added: Redwood Trust Inc. (RWT)

Wallace Weitz added to his holdings in Real Estate Holding & Development company Redwood Trust Inc. by 16.49%. His purchase prices were between $25.03 and $36.14, with an estimated average price of $30.9. The impact to his portfolio due to this purchase was 0.71%. His holdings were 5,945,362 shares as of 12/31/2007.

Redwood Trust, Inc., together with its subsidiaries, invests in, finances, and manages real estate assets in the United States. It invests in residential and commercial real estate loans, and in asset-backed securities backed by real estate loans. Redwood Trust Inc. has a market cap of $1.23 billion; its shares were traded at around $45.63 with a P/E ratio of 264.85 and P/S ratio of 6.44. The dividend yield of Redwood Trust Inc. stocks is 8%.

Added: Comcast Corp. (CMCSA)

Wallace Weitz added to his holdings in Broadcasting & Entertainment company Comcast Corp. by 21.24%. His purchase prices were between $18.14 and $24.01, with an estimated average price of $20.2. The impact to his portfolio due to this purchase was 0.48%. His holdings were 6,040,790 shares as of 12/31/2007.

Comcast Corporation, together with its subsidiaries, operates as a cable operator in the United States. It offers various consumer entertainment and communication products and services. Comcast Corp. has a market cap of $53.6 billion; its shares were traded at around $18.16 with a P/E ratio of 23.13 and P/S ratio of 1.87.

Added: Fannie Mae (FNM)

Wallace Weitz added to his holdings in Mortgage Finance company Fannie Mae by 11.07%. His purchase prices were between $31.86 and $64.8, with an estimated average price of $44.8. The impact to his portfolio due to this purchase was 0.4%. His holdings were 4,052,160 shares as of 12/31/2007.

Fannie Mae provides funds to mortgage lenders through the purchase of mortgage assets, and issues and guarantees mortgage-related securities that facilitate the flow of funds into the mortgage market in the United States. Fannie Mae has a market cap of $32.5 billion; its shares were traded at around $35.51 with a P/E ratio of 20.10 and P/S ratio of 6.49. The dividend yield of Fannie Mae stocks is 4.4%.

Added: Wells Fargo & Company (WFC)

Wallace Weitz added to his holdings in Banks company Wells Fargo & Company by 30.94%. His purchase prices were between $30.07 and $35.7, with an estimated average price of $31.9. The impact to his portfolio due to this purchase was 0.36%. His holdings were 2,038,400 shares as of 12/31/2007.

Wells Fargo & Company, through its subsidiaries, provides banking and financial products and services in the United States. The company operates in three segments: Community Banking, Wholesale Banking, and Wells Fargo Financial. Wells Fargo & Company has a market cap of $100.46 billion; its shares were traded at around $31.39 with a P/E ratio of 12.79 and P/S ratio of 3.00. The dividend yield of Wells Fargo & Company stocks is 4%.

Added: American Express Company (AXP)

Wallace Weitz added to his holdings in Consumer Finance company American Express Company by 9.82%. His purchase prices were between $50.66 and $63.01, with an estimated average price of $56.6. The impact to his portfolio due to this purchase was 0.34%. His holdings were 2,934,086 shares as of 12/31/2007.

American Express Company, together with its subsidiaries, operates as a payments, network, and travel company worldwide. It offers individual consumer charge cards, revolving credit cards, and cobrand cards; and merchant acquisition and processing. American Express Company has a market cap of $52.92 billion; its shares were traded at around $47.66 with a P/E ratio of 13.62 and P/S ratio of 1.75. The dividend yield of American Express Company stocks is 1.6%.

Added: Cabela's Inc. (CAB)

Wallace Weitz added to his holdings in Specialty Retailers company Cabela's Inc. by 15.96%. His purchase prices were between $14.28 and $22.3, with an estimated average price of $17.2. The impact to his portfolio due to this purchase was 0.2%. His holdings were 3,912,865 shares as of 12/31/2007.

Cabela's Incorporated operates as a direct marketer, as well as a retailer of hunting, fishing, camping, and related outdoor merchandise. Its products include hunting, fishing, marine, and camping products; casual and outdoor apparel and footwear. Cabela's Inc. has a market cap of $953.51 million; its shares were traded at around $14.75 with a P/E ratio of 11.46 and P/S ratio of 0.43.

Added: American International Group Inc. (AIG)

Wallace Weitz added to his holdings in Full Line Insurance company American International Group Inc. by 2.52%. His purchase prices were between $52.84 and $67.85, with an estimated average price of $59.1. The impact to his portfolio due to this purchase was 0.15%. His holdings were 4,282,023 shares as of 12/31/2007.

American International Group, Inc., through its subsidiaries, provides insurance and financial services in the United States and internationally. It operates in four segments: General Insurance, Life Insurance and Retirement Services, Financial Services. American International Group Inc. has a market cap of $134.24 billion; its shares were traded at around $55.43 with a P/E ratio of 9.23 and P/S ratio of 1.16. The dividend yield of American International Group Inc. stocks is 1.5%.

Added: Omnicare Inc. (OCR)

Wallace Weitz added to his holdings in Health Care Providers company Omnicare Inc. by 4.63%. His purchase prices were between $22.18 and $34.14, with an estimated average price of $27.3. The impact to his portfolio due to this purchase was 0.13%. His holdings were 5,367,675 shares as of 12/31/2007.

Omnicare, Inc, a geriatric pharmaceutical services company, provides pharmaceuticals and related ancillary pharmacy services to long-term healthcare institutions in the United States and Canada. Omnicare Inc. has a market cap of $2.73 billion; its shares were traded at around $22.64 with a P/E ratio of 13.30 and P/S ratio of 0.44. The dividend yield of Omnicare Inc. stocks is 0.4%.

Added: Lowe's Companies Inc. (LOW)

Wallace Weitz added to his holdings in Specialty Retailers company Lowe's Companies Inc. by 4.86%. His purchase prices were between $22.18 and $28.74, with an estimated average price of $24.7. The impact to his portfolio due to this purchase was 0.12%. His holdings were 4,696,922 shares as of 12/31/2007.

Lowe's Companies, Inc. and its subsidiaries operate as a home improvement retailer in the United States and Canada. The company offers a range of products and services for home decoration, maintenance, repair, remodeling, and property maintenance. Lowe's Companies Inc. has a market cap of $35.23 billion; its shares were traded at around $24.78 with a P/E ratio of 12.19 and P/S ratio of 0.75. The dividend yield of Lowe's Companies Inc. stocks is 1.3%.

Added: Eagle Materials Inc. (EXP)

Wallace Weitz added to his holdings in Building Materials & Fixtures company Eagle Materials Inc. by 399.76%. His purchase prices were between $34.54 and $40.28, with an estimated average price of $37.2. The impact to his portfolio due to this purchase was 0.09%. His holdings were 125,015 shares as of 12/31/2007.

Eagle Materials, Inc., together with its subsidiaries, engages in the manufacture, distribution, and sale of gypsum wallboard and cement primarily in the United States. Eagle Materials Inc. has a market cap of $1.56 billion; its shares were traded at around $37.18 with a P/E ratio of 12.65 and P/S ratio of 2.06. The dividend yield of Eagle Materials Inc. stocks is 2.4%.

Added: Comcast Corp. Special (CMCSK)

Wallace Weitz added to his holdings in Broadcasting & Entertainment company Comcast Corp. Special by 105.6%. His purchase prices were between $18.08 and $23.8, with an estimated average price of $20. The impact to his portfolio due to this purchase was 0.09%. His holdings were 382,097 shares as of 12/31/2007.

No business summary available for CMCSK. Comcast Corp. Special has a market cap of $ million; its shares were traded at around $17.94 .

Added: Beacon Roofing Supply Inc. (BECN)

Wallace Weitz added to his holdings in Building Materials & Fixtures company Beacon Roofing Supply Inc. by 24.1%. His purchase prices were between $7.55 and $10.72, with an estimated average price of $9. The impact to his portfolio due to this purchase was 0.02%. His holdings were 578,792 shares as of 12/31/2007.

Beacon Roofing Supply Inc. has a market cap of $396.24 million; its shares were traded at around $9.25 with a P/E ratio of 15.93 and P/S ratio of 0.25.

New Purchase: Martin Marietta Materials Inc. (MLM)

Wallace Weitz initiated holdings in Building Materials & Fixtures company Martin Marietta Materials Inc.. His purchase prices were between $120.44 and $138.93, with an estimated average price of $128.3. The impact to his portfolio due to this purchase was 0.04%. His holdings were 11,450 shares as of 12/31/2007.

Martin Marietta Materials, Inc. engages in the production and sale of aggregates for the construction industry in the United States, Canada, the Bahamas, and the Caribbean Islands. Martin Marietta Materials Inc. has a market cap of $4.44 billion; its shares were traded at around $118.12 with a P/E ratio of 17.45 and P/S ratio of 2.23. The dividend yield of Martin Marietta Materials Inc. stocks is 1.3%.

New Purchase: Leap Wireless International Inc. (LEAP)

Wallace Weitz initiated holdings in Mobile Telecom company Leap Wireless International Inc.. His purchase prices were between $32.48 and $77.18, with an estimated average price of $49.5. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 2,920 shares as of 12/31/2007.

Leap Wireless International, Inc., through its subsidiaries, offers digital wireless services in the United States under the Cricket and Jumptm Mobile brands. Leap Wireless International Inc. has a market cap of $2.77 billion; its shares were traded at around $43.37 with P/S ratio of 1.95.

New Purchase: Carter's Inc. (CRI)

Wallace Weitz initiated holdings in Clothing & Accessories company Carter's Inc.. His purchase prices were between $18.91 and $22.7, with an estimated average price of $20.9. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 5,110 shares as of 12/31/2007.

Carter's, Inc. markets apparel for babies and young children in the United States. It offers baby and sleepwear products, play clothes, and accessories under the brand names of ‘Carter's' and ‘OshKosh'. Carter's Inc. has a market cap of $1.09 billion; its shares were traded at around $18.86 with P/S ratio of 0.78.

New Purchase: TrueBlue Inc (TBI)

Wallace Weitz initiated holdings in TrueBlue Inc. His purchase prices were between $14.79 and $20.1, with an estimated average price of $16.3. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 9,025 shares as of 12/31/2007.

TrueBlue, Inc., through its subsidiaries, provides temporary employees for manual labor, light industrial, and skilled construction trades. The company serves small to mid-sized businesses in the construction, warehousing, hospitality, landscaping. TrueBlue Inc has a market cap of $590.28 million; its shares were traded at around $0 with a P/E ratio of 8.77 and P/S ratio of 0.45.

Reduced: Berkshire Hathaway Inc. (BRK-B)

Wallace Weitz reduced to his holdings in Property & Casualty Insurance company Berkshire Hathaway Inc. by 20.24%. His sale prices were between $4233 and $4950, with an estimated average price of $4509.8. The impact to his portfolio due to this sale was 7.69%. Wallace Weitz still held 78,924 shares as of 12/31/2007.

No business summary available for BRK-B. Berkshire Hathaway Inc. has a market cap of $ million; its shares were traded at around $4501 .

Reduced: WalMart Stores Inc. (WMT)

Wallace Weitz reduced to his holdings in Broadline Retailers company WalMart Stores Inc. by 26.08%. His sale prices were between $42.71 and $48.8, with an estimated average price of $46.2. The impact to his portfolio due to this sale was 3.57%. Wallace Weitz still held 3,823,473 shares as of 12/31/2007.

Wal-Mart Stores, Inc. operates retail stores in various formats worldwide. It operates through three segments: Wal-Mart Stores, Sam's Club, and International. WalMart Stores Inc. has a market cap of $198.48 billion; its shares were traded at around $50.07 with a P/E ratio of 16.21 and P/S ratio of 0.54. The dividend yield of WalMart Stores Inc. stocks is 1.8%.

Reduced: UnitedHealth Group Inc. (UNH)

Wallace Weitz reduced to his holdings in Health Care Providers company UnitedHealth Group Inc. by 46.92%. His sale prices were between $47.45 and $58.99, with an estimated average price of $53.2. The impact to his portfolio due to this sale was 3.5%. Wallace Weitz still held 3,569,172 shares as of 12/31/2007.

UnitedHealth Group Incorporated provides healthcare services in the United States. Its Uniprise segment delivers health care and well-being services to employers, individual consumers, and other health care organizations; UnitedHealth Group Inc. has a market cap of $63.23 billion; its shares were traded at around $49.9 with a P/E ratio of 14.44 and P/S ratio of 0.85. The dividend yield of UnitedHealth Group Inc. stocks is 0.1%.

Reduced: The Washington Post Company (WPO)

Wallace Weitz reduced to his holdings in Publishing company The Washington Post Company by 27.29%. His sale prices were between $774.02 and $821.08, with an estimated average price of $797.3. The impact to his portfolio due to this sale was 2.87%. Wallace Weitz still held 186,200 shares as of 12/31/2007.

The Washington Post Company, together with its subsidiaries, operates as a diversified media and education company in the United States and internationally. The Washington Post Company has a market cap of $6.98 billion; its shares were traded at around $753.82 with a P/E ratio of 23.33 and P/S ratio of 1.75. The dividend yield of The Washington Post Company stocks is 1.2%.

Reduced: Cumulus Media Inc. (CMLS)

Wallace Weitz reduced to his holdings in Broadcasting & Entertainment company Cumulus Media Inc. by 27.06%. His sale prices were between $7.36 and $10.44, with an estimated average price of $9.1. The impact to his portfolio due to this sale was 0.34%. Wallace Weitz still held 2,177,218 shares as of 12/31/2007.

Cumulus Media, Inc. owns and operates frequency modulation and amplitude modulation radio station clusters serving mid-sized markets throughout the United States. Cumulus Media Inc. has a market cap of $261.48 million; its shares were traded at around $6.34 with P/S ratio of 0.82.

Reduced: TD Ameritrade Holding Corp. (AMTD)

Wallace Weitz reduced to his holdings in Investment Services company TD Ameritrade Holding Corp. by 51.17%. His sale prices were between $17.93 and $20.04, with an estimated average price of $19.2. The impact to his portfolio due to this sale was 0.19%. Wallace Weitz still held 581,350 shares as of 12/31/2007.

TD AMERITRADE Holding Corporation, through its subsidiaries, provides securities brokerage services and technology-based financial services in the United States. TD Ameritrade Holding Corp. has a market cap of $10.65 billion; its shares were traded at around $18.61 with a P/E ratio of 14.64 and P/S ratio of 5.10.

Sold Out: Apollo Group Inc. (APOL)

Wallace Weitz sold out his holdings in Specialized Consumer Services company Apollo Group Inc.. His sale prices were between $65.2 and $80.25, with an estimated average price of $73.7. The impact to his portfolio due to this sale was less than 0.01%.

Apollo Group, Inc., through its subsidiaries, provides various educational programs and services at high school, college, and graduate levels. Its subsidiaries include University of Phoenix, Inc. (UPX), Institute for Professional Development, Inc. etc. Apollo Group Inc. has a market cap of $12.93 billion; its shares were traded at around $78.74 with a P/E ratio of 30.53 and P/S ratio of 4.66.

Sold Out: Countrywide Financial Corp. (CFC)

Wallace Weitz sold out his holdings in Mortgage Finance company Countrywide Financial Corp.. His sale prices were between $8.75 and $18.53, with an estimated average price of $12.5. The impact to his portfolio due to this sale was less than 0.01%.

Countrywide Financial Corporation, a holding company, engages in mortgage lending and other finance-related operations. The company operates in five segments: Mortgage Banking, Banking, Capital Markets, Insurance, and Global Operations. Countrywide Financial Corp. has a market cap of $3.82 billion; its shares were traded at around $7.22 with P/S ratio of 0.58. The dividend yield of Countrywide Financial Corp. stocks is 10%.

Sold Out: Tyco Electronics Ltd. (TEL)

Wallace Weitz sold out his holdings in Electrical Components & Equipment company Tyco Electronics Ltd.. His sale prices were between $32.43 and $37.64, with an estimated average price of $35.8. The impact to his portfolio due to this sale was less than 0.01%.

Tyco Electronics Ltd. has a market cap of $16.12 billion; its shares were traded at around $33.84 with P/S ratio of 1.24. The dividend yield of Tyco Electronics Ltd. stocks is 1.7%.

Sold Out: Corinthian Colleges Inc. (COCO)

Wallace Weitz sold out his holdings in Specialized Consumer Services company Corinthian Colleges Inc.. His sale prices were between $14.85 and $17.53, with an estimated average price of $16.3. The impact to his portfolio due to this sale was less than 0.01%.

Corinthian Colleges, Inc. operates as a post-secondary education company in the United States and Canada. The company offers a range of diploma programs and associate's, bachelor's, and master's degrees. Corinthian Colleges Inc. has a market cap of $773.42 million; its shares were traded at around $9.29 with a P/E ratio of 59.16 and P/S ratio of 0.79.

Sold Out: Telephone And Data Systems Inc (TDS)

Wallace Weitz sold out his holdings in Mobile Telecom company Telephone And Data Systems Inc. His sale prices were between $61.06 and $69.1, with an estimated average price of $65.8. The impact to his portfolio due to this sale was less than 0.01%.

Telephone and Data Systems, Inc., through its subsidiaries, provides wireless and wireline telecommunications services in the United States. The company's wireless products and services include digital wireless telephones; caller ID; short messaging. Telephone And Data Systems Inc has a market cap of $6.23 billion; its shares were traded at around $55.59 with a P/E ratio of 19.37 and P/S ratio of 1.39. The dividend yield of Telephone And Data Systems Inc stocks is 0.7%.

Sold Out: Iron Mountain Inc. (IRM)

Wallace Weitz sold out his holdings in Business Support Services company Iron Mountain Inc.. His sale prices were between $31.56 and $37.29, with an estimated average price of $35.2. The impact to his portfolio due to this sale was less than 0.01%.

Iron Mountain Incorporated, together its subsidiaries, provides information protection and storage services in North America, South America, Canada, Australia, New Zealand, Mexico, Europe, Latin America, and the Asia Pacific. Iron Mountain Inc. has a market cap of $6.92 billion; its shares were traded at around $35.12 with a P/E ratio of 42.91 and P/S ratio of 2.69.


Rating: 2.6/5 (14 votes)

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