Wally Weitz’s fund recovered nicely from 2008’s meltdowns. Now he is cautious optimistic. This is the Q3 portfolio update. He is holding about 20% of cash.
Wallace Weitz buys Grand Canyon Education Inc., Directv Group Inc. Brown & Brown Inc., Hsn, Inc., sells Ebay Inc., United States Cellular Corp during the 3-months ended 09/30/2009, according to the most recent filings of his investment company, Weitz Wallace R & Co. Wallace Weitz owns 61 stocks with a total value of $1.7 billion. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Wallace Weitz
Laboratory Corporation of America Holdings is one of the largest independent clinical laboratory company's in the United States. Through a national network of laboratories the company offers different clinical laboratory tests which are used by the medical profession in routine testing patient diagnosis and in the monitoring and treatment of disease. Laboratory Corp. Of America Holdings has a market cap of $7.61 billion; its shares were traded at around $70.3 with a P/E ratio of 14.5 and P/S ratio of 1.7. Laboratory Corp. Of America Holdings had an annual average earning growth of 10.3% over the past 10 years.
Omnicare Inc. has a market cap of $2.66 billion; its shares were traded at around $22.3 with a P/E ratio of 8.7 and P/S ratio of 0.4. The dividend yield of Omnicare Inc. stocks is 0.4%. Omnicare Inc. had an annual average earning growth of 13.2% over the past 10 years. GuruFocus rated Omnicare Inc. the business predictability rank of 4-star.
Walmart Stores Inc. has a market cap of $194.31 billion; its shares were traded at around $50.38 with a P/E ratio of 14.6 and P/S ratio of 0.5. The dividend yield of Walmart Stores Inc. stocks is 2.2%. Walmart Stores Inc. had an annual average earning growth of 13.3% over the past 10 years. GuruFocus rated Walmart Stores Inc. the business predictability rank of 5-star.
Coinstar Inc. operate a national network of self-service coin-counting machines in the U.S. the U.K. and Canada. The company's Coinstar coin-counting units provide consumers with a fun accurate and convenient means of converting accumulated change into cash. The Coinstar unit which is about the size of an ATM is highly accurate durable easy to use and easy to service. It accepts consumers' loose change and then prints out a voucher listing the total number by denomination and dollar value of the processed coins less our processing fee. Coinstar Inc. has a market cap of $965.5 million; its shares were traded at around $31.3 with a P/E ratio of 44.7 and P/S ratio of 1.1. Coinstar Inc. had an annual average earning growth of 11.1% over the past 5 years.
Intelligent Systems Corporation's main focus is to help entrepreneurs build valuable companies by forming flexible partnership arrangements with early stage domestic companies. They bring value to these companies by providing practical business advice a proven incubator program early stage equity capital and a network of business and financial contacts. Intelligent Systems Corp has a market cap of $11.4 million; its shares were traded at around $1.27 with and P/S ratio of 0.7. Intelligent Systems Corp had an annual average earning growth of 3% over the past 10 years.
Potash Corporation of Saskatchewan Inc. is the world's largest potash company the third largest phoshate producer and the second largest nitrogen producer in the world. Potash Corp. Of Saskatchewan Inc. has a market cap of $27.94 billion; its shares were traded at around $94.47 with a P/E ratio of 18.8 and P/S ratio of 2.9. The dividend yield of Potash Corp. Of Saskatchewan Inc. stocks is 0.4%. Potash Corp. Of Saskatchewan Inc. had an annual average earning growth of 12.6% over the past 10 years.
Grand Canyon Education Inc. is a regionally accredited provider of online postsecondary education services focused on offering graduate and undergraduate degree programs in its core disciplines of education business and healthcare. In addition to its online programs it offers programs at its traditional campus in Phoenix Arizona and onsite at the facilities of employers. Grand Canyon Education Inc. has a market cap of $820.3 million; its shares were traded at around $18 with and P/S ratio of 5.
The DIRECTV Group Inc. is a world-leading provider of digital multichannel television entertainment broadband satellite networks and services and global video and data broadcasting. Directv Group Inc. The has a market cap of $26.23 billion; its shares were traded at around $26.84 with a P/E ratio of 21.6 and P/S ratio of 1.3. Directv Group Inc. The had an annual average earning growth of 12.7% over the past 10 years.
Brown & Brown Inc. has a market cap of $2.58 billion; its shares were traded at around $18.26 with a P/E ratio of 15.8 and P/S ratio of 2.6. The dividend yield of Brown & Brown Inc. stocks is 1.6%. Brown & Brown Inc. had an annual average earning growth of 25% over the past 10 years. GuruFocus rated Brown & Brown Inc. the business predictability rank of 4.5-star.
HSNi owns and operates through its subsidiaries HSN a retailer and interactive lifestyle network offering a broad assortment of products through television home shopping programming on the HSN television network and HSN.com. HSN strives to transform the shopping experience by incorporating experts entertainment inspiration solutions tips and ideas in connection with the sale of products through the HSN television network and HSN.com. HSNi also owns and operates through its subsidiaries the Cornerstone Brands portfolio of catalogs and related websites including Frontgate Ballard Designs Garnet Hill Smith+Noble The Territory Ahead TravelSmith and Improvements as well as a limited number of retail stores. Hsn, Inc. has a market cap of $795.8 million; its shares were traded at around $14.12 with a P/E ratio of 18.2 and P/S ratio of 0.3.
USG Corp. through its subsidiaries is a leading manufacturer and distributor of building materials producing a wide range of products for use in new residential new nonresidential and repair and remodel construction as well as products used in certain industrial processes. USG's operations are organized into three operating segments: North American Gypsum Worldwide Ceilings and Building Products Distribution. Usg Corp. has a market cap of $1.32 billion; its shares were traded at around $13.31 with and P/S ratio of 0.3.
Discovery Communications, Inc has a market cap of $8.01 billion; its shares were traded at around $28.47 with a P/E ratio of 23 and P/S ratio of 2.3.
American Express Company has a market cap of $42.76 billion; its shares were traded at around $35.96 with a P/E ratio of 33.9 and P/S ratio of 1.5. The dividend yield of American Express Company stocks is 2%. American Express Company had an annual average earning growth of 1.3% over the past 10 years.
Unitedhealth Group Inc. has a market cap of $32.4 billion; its shares were traded at around $27.87 with a P/E ratio of 8.7 and P/S ratio of 0.4. The dividend yield of Unitedhealth Group Inc. stocks is 0.1%. Unitedhealth Group Inc. had an annual average earning growth of 30.4% over the past 10 years. GuruFocus rated Unitedhealth Group Inc. the business predictability rank of 5-star.
Wellpoint Inc. has a market cap of $23.73 billion; its shares were traded at around $49.95 with a P/E ratio of 8 and P/S ratio of 0.4. Wellpoint Inc. had an annual average earning growth of 20.8% over the past 5 years.
Liberty Media Corp. Interactive Common S has a market cap of $6.64 billion; its shares were traded at around $11.71 with and P/S ratio of 0.9. Liberty Media Corp. Interactive Common S had an annual average earning growth of 20.8% over the past 5 years.
Ebay Inc. has a market cap of $29.1 billion; its shares were traded at around $22.55 with a P/E ratio of 17.6 and P/S ratio of 3.4. Ebay Inc. had an annual average earning growth of 29% over the past 5 years.
United States Cellular Corporation is the eighth largest wireless company in the United States based on the aggregate number of customers in its consolidated markets. The company's development strategy is to operate controlling interests in cellular market licensees in areas adjacent to or in proximity to its other markets thereby building clusters in operating markets. United States Cellular Corp has a market cap of $3.29 billion; its shares were traded at around $37.85 with a P/E ratio of 10.9 and P/S ratio of 0.7. United States Cellular Corp had an annual average earning growth of 10.9% over the past 10 years. GuruFocus rated United States Cellular Corp the business predictability rank of 4-star.
Wallace Weitz buys Grand Canyon Education Inc., Directv Group Inc. Brown & Brown Inc., Hsn, Inc., sells Ebay Inc., United States Cellular Corp during the 3-months ended 09/30/2009, according to the most recent filings of his investment company, Weitz Wallace R & Co. Wallace Weitz owns 61 stocks with a total value of $1.7 billion. These are the details of the buys and sells.
- New Purchases: BRO, DTV, HSNI, LOPE,
- Added Positions: CSTR, INS, LH, OCR, POT, WMT,
- Reduced Positions: AXP, DISCA, LINTA, UNH, USG, WLP,
- Sold Out: EBAY, USM,
This is the sector weightings of his portfolio:
| Consumer Services | 35.1% |
| Financials | 22.9% |
| Industrials | 14.5% |
| Technology | 9.5% |
| Health Care | 8.3% |
| Telecommunications | 4.5% |
| Consumer Goods | 2.6% |
| Oil & Gas | 2.5% |
| Basic Materials | 0.3% |
These are the top 5 holdings of Wallace Weitz
- Berkshire Hathaway Inc. (BRK-B) - 57,582 shares, 11.47% of the total portfolio
- Redwood Trust Inc. (RWT) - 6,241,755 shares, 5.8% of the total portfolio
- Liberty Media Corp. Interactive Common S (LINTA) - 8,782,580 shares, 5.78% of the total portfolio
- Liberty Global Inc. Series C (LBTYK) - 3,895,670 shares, 5.25% of the total portfolio
- Dell Inc. (DELL) - 4,960,509 shares, 4.54% of the total portfolio
Added: Laboratory Corp. Of America Holdings (LH, Financial)
Wallace Weitz added to his holdings in Laboratory Corp. Of America Holdings by 39.05%. His purchase prices were between $63.5 and $70.75, with an estimated average price of $67.83. The impact to his portfolio due to this purchase was 0.28%. His holdings were 255,300 shares as of 09/30/2009.Laboratory Corporation of America Holdings is one of the largest independent clinical laboratory company's in the United States. Through a national network of laboratories the company offers different clinical laboratory tests which are used by the medical profession in routine testing patient diagnosis and in the monitoring and treatment of disease. Laboratory Corp. Of America Holdings has a market cap of $7.61 billion; its shares were traded at around $70.3 with a P/E ratio of 14.5 and P/S ratio of 1.7. Laboratory Corp. Of America Holdings had an annual average earning growth of 10.3% over the past 10 years.
Added: Omnicare Inc. (OCR, Financial)
Wallace Weitz added to his holdings in Omnicare Inc. by 6.97%. His purchase prices were between $22.68 and $27.23, with an estimated average price of $24.18. The impact to his portfolio due to this purchase was 0.2%. His holdings were 2,282,430 shares as of 09/30/2009.Omnicare Inc. has a market cap of $2.66 billion; its shares were traded at around $22.3 with a P/E ratio of 8.7 and P/S ratio of 0.4. The dividend yield of Omnicare Inc. stocks is 0.4%. Omnicare Inc. had an annual average earning growth of 13.2% over the past 10 years. GuruFocus rated Omnicare Inc. the business predictability rank of 4-star.
Added: Walmart Stores Inc. (WMT, Financial)
Wallace Weitz added to his holdings in Walmart Stores Inc. by 22.84%. His purchase prices were between $47.57 and $51.88, with an estimated average price of $49.98. The impact to his portfolio due to this purchase was 0.16%. His holdings were 285,000 shares as of 09/30/2009.Walmart Stores Inc. has a market cap of $194.31 billion; its shares were traded at around $50.38 with a P/E ratio of 14.6 and P/S ratio of 0.5. The dividend yield of Walmart Stores Inc. stocks is 2.2%. Walmart Stores Inc. had an annual average earning growth of 13.3% over the past 10 years. GuruFocus rated Walmart Stores Inc. the business predictability rank of 5-star.
Added: Coinstar Inc. (CSTR, Financial)
Wallace Weitz added to his holdings in Coinstar Inc. by 7.39%. His purchase prices were between $25.36 and $38.14, with an estimated average price of $31.49. The impact to his portfolio due to this purchase was 0.13%. His holdings were 959,660 shares as of 09/30/2009.Coinstar Inc. operate a national network of self-service coin-counting machines in the U.S. the U.K. and Canada. The company's Coinstar coin-counting units provide consumers with a fun accurate and convenient means of converting accumulated change into cash. The Coinstar unit which is about the size of an ATM is highly accurate durable easy to use and easy to service. It accepts consumers' loose change and then prints out a voucher listing the total number by denomination and dollar value of the processed coins less our processing fee. Coinstar Inc. has a market cap of $965.5 million; its shares were traded at around $31.3 with a P/E ratio of 44.7 and P/S ratio of 1.1. Coinstar Inc. had an annual average earning growth of 11.1% over the past 5 years.
Added: Intelligent Systems Corp (INS, Financial)
Wallace Weitz added to his holdings in Intelligent Systems Corp by 156.8%. His purchase prices were between $0.7 and $1.5, with an estimated average price of $1.07. The impact to his portfolio due to this purchase was 0.11%. His holdings were 2,265,000 shares as of 09/30/2009.Intelligent Systems Corporation's main focus is to help entrepreneurs build valuable companies by forming flexible partnership arrangements with early stage domestic companies. They bring value to these companies by providing practical business advice a proven incubator program early stage equity capital and a network of business and financial contacts. Intelligent Systems Corp has a market cap of $11.4 million; its shares were traded at around $1.27 with and P/S ratio of 0.7. Intelligent Systems Corp had an annual average earning growth of 3% over the past 10 years.
Added: Potash Corp. Of Saskatchewan Inc. (POT, Financial)
Wallace Weitz added to his holdings in Potash Corp. Of Saskatchewan Inc. by 49.23%. His purchase prices were between $84.13 and $99.56, with an estimated average price of $92.66. The impact to his portfolio due to this purchase was 0.08%. His holdings were 45,470 shares as of 09/30/2009.Potash Corporation of Saskatchewan Inc. is the world's largest potash company the third largest phoshate producer and the second largest nitrogen producer in the world. Potash Corp. Of Saskatchewan Inc. has a market cap of $27.94 billion; its shares were traded at around $94.47 with a P/E ratio of 18.8 and P/S ratio of 2.9. The dividend yield of Potash Corp. Of Saskatchewan Inc. stocks is 0.4%. Potash Corp. Of Saskatchewan Inc. had an annual average earning growth of 12.6% over the past 10 years.
New Purchase: Grand Canyon Education Inc. (LOPE, Financial)
Wallace Weitz initiated holdings in Grand Canyon Education Inc.. His purchase prices were between $15.91 and $18.88, with an estimated average price of $17.57. The impact to his portfolio due to this purchase was 0.61%. His holdings were 571,668 shares as of 09/30/2009.Grand Canyon Education Inc. is a regionally accredited provider of online postsecondary education services focused on offering graduate and undergraduate degree programs in its core disciplines of education business and healthcare. In addition to its online programs it offers programs at its traditional campus in Phoenix Arizona and onsite at the facilities of employers. Grand Canyon Education Inc. has a market cap of $820.3 million; its shares were traded at around $18 with and P/S ratio of 5.
New Purchase: Directv Group Inc. The (DTV, Financial)
Wallace Weitz initiated holdings in Directv Group Inc. The. His purchase prices were between $22.92 and $27.51, with an estimated average price of $25.11. The impact to his portfolio due to this purchase was 0.37%. His holdings were 225,000 shares as of 09/30/2009.The DIRECTV Group Inc. is a world-leading provider of digital multichannel television entertainment broadband satellite networks and services and global video and data broadcasting. Directv Group Inc. The has a market cap of $26.23 billion; its shares were traded at around $26.84 with a P/E ratio of 21.6 and P/S ratio of 1.3. Directv Group Inc. The had an annual average earning growth of 12.7% over the past 10 years.
New Purchase: Brown & Brown Inc. (BRO, Financial)
Wallace Weitz initiated holdings in Brown & Brown Inc.. His purchase prices were between $18.54 and $19.93, with an estimated average price of $19.35. The impact to his portfolio due to this purchase was 0.02%. His holdings were 20,000 shares as of 09/30/2009.Brown & Brown Inc. has a market cap of $2.58 billion; its shares were traded at around $18.26 with a P/E ratio of 15.8 and P/S ratio of 2.6. The dividend yield of Brown & Brown Inc. stocks is 1.6%. Brown & Brown Inc. had an annual average earning growth of 25% over the past 10 years. GuruFocus rated Brown & Brown Inc. the business predictability rank of 4.5-star.
New Purchase: Hsn, Inc. (HSNI, Financial)
Wallace Weitz initiated holdings in Hsn, Inc.. His purchase prices were between $8.47 and $16.12, with an estimated average price of $11.28. The impact to his portfolio due to this purchase was 0.01%. His holdings were 9,180 shares as of 09/30/2009.HSNi owns and operates through its subsidiaries HSN a retailer and interactive lifestyle network offering a broad assortment of products through television home shopping programming on the HSN television network and HSN.com. HSN strives to transform the shopping experience by incorporating experts entertainment inspiration solutions tips and ideas in connection with the sale of products through the HSN television network and HSN.com. HSNi also owns and operates through its subsidiaries the Cornerstone Brands portfolio of catalogs and related websites including Frontgate Ballard Designs Garnet Hill Smith+Noble The Territory Ahead TravelSmith and Improvements as well as a limited number of retail stores. Hsn, Inc. has a market cap of $795.8 million; its shares were traded at around $14.12 with a P/E ratio of 18.2 and P/S ratio of 0.3.
Reduced: USG Corp. (USG)
Wallace Weitz reduced to his holdings in Usg Corp. by 20.42%. His sale prices were between $8.97 and $18.04, with an estimated average price of $13.92. The impact to his portfolio due to this sale was -0.18%. Wallace Weitz still held 847,845 shares as of 09/30/2009.USG Corp. through its subsidiaries is a leading manufacturer and distributor of building materials producing a wide range of products for use in new residential new nonresidential and repair and remodel construction as well as products used in certain industrial processes. USG's operations are organized into three operating segments: North American Gypsum Worldwide Ceilings and Building Products Distribution. Usg Corp. has a market cap of $1.32 billion; its shares were traded at around $13.31 with and P/S ratio of 0.3.
Reduced: Discovery Communications, Inc (DISCA)
Wallace Weitz reduced to his holdings in Discovery Communications, Inc by 47.87%. His sale prices were between $21.82 and $29.6, with an estimated average price of $25.4. The impact to his portfolio due to this sale was -0.38%. Wallace Weitz still held 456,400 shares as of 09/30/2009.Discovery Communications, Inc has a market cap of $8.01 billion; its shares were traded at around $28.47 with a P/E ratio of 23 and P/S ratio of 2.3.
Reduced: American Express Company (AXP)
Wallace Weitz reduced to his holdings in American Express Company by 90.91%. His sale prices were between $22.35 and $35, with an estimated average price of $30.55. The impact to his portfolio due to this sale was -0.4%. Wallace Weitz still held 214,100 shares as of 09/30/2009.American Express Company has a market cap of $42.76 billion; its shares were traded at around $35.96 with a P/E ratio of 33.9 and P/S ratio of 1.5. The dividend yield of American Express Company stocks is 2%. American Express Company had an annual average earning growth of 1.3% over the past 10 years.
Reduced: Unitedhealth Group Inc. (UNH)
Wallace Weitz reduced to his holdings in Unitedhealth Group Inc. by 39.56%. His sale prices were between $23.97 and $29.92, with an estimated average price of $27.22. The impact to his portfolio due to this sale was -0.61%. Wallace Weitz still held 1,022,500 shares as of 09/30/2009.Unitedhealth Group Inc. has a market cap of $32.4 billion; its shares were traded at around $27.87 with a P/E ratio of 8.7 and P/S ratio of 0.4. The dividend yield of Unitedhealth Group Inc. stocks is 0.1%. Unitedhealth Group Inc. had an annual average earning growth of 30.4% over the past 10 years. GuruFocus rated Unitedhealth Group Inc. the business predictability rank of 5-star.
Reduced: Wellpoint Inc. (WLP)
Wallace Weitz reduced to his holdings in Wellpoint Inc. by 42.95%. His sale prices were between $49.28 and $55.47, with an estimated average price of $52.13. The impact to his portfolio due to this sale was -1.13%. Wallace Weitz still held 928,270 shares as of 09/30/2009.Wellpoint Inc. has a market cap of $23.73 billion; its shares were traded at around $49.95 with a P/E ratio of 8 and P/S ratio of 0.4. Wellpoint Inc. had an annual average earning growth of 20.8% over the past 5 years.
Reduced: Liberty Media Corp. Interactive Common S (LINTA)
Wallace Weitz reduced to his holdings in Liberty Media Corp. Interactive Common S by 21.81%. His sale prices were between $4.7 and $11.34, with an estimated average price of $8.36. The impact to his portfolio due to this sale was -1.26%. Wallace Weitz still held 8,782,580 shares as of 09/30/2009.Liberty Media Corp. Interactive Common S has a market cap of $6.64 billion; its shares were traded at around $11.71 with and P/S ratio of 0.9. Liberty Media Corp. Interactive Common S had an annual average earning growth of 20.8% over the past 5 years.
Sold Out: Ebay Inc. (EBAY)
Wallace Weitz sold out his holdings in Ebay Inc.. His sale prices were between $15.91 and $24.45, with an estimated average price of $21.22.Ebay Inc. has a market cap of $29.1 billion; its shares were traded at around $22.55 with a P/E ratio of 17.6 and P/S ratio of 3.4. Ebay Inc. had an annual average earning growth of 29% over the past 5 years.
Sold Out: United States Cellular Corp (USM)
Wallace Weitz sold out his holdings in United States Cellular Corp. His sale prices were between $34.34 and $40.29, with an estimated average price of $37.09.United States Cellular Corporation is the eighth largest wireless company in the United States based on the aggregate number of customers in its consolidated markets. The company's development strategy is to operate controlling interests in cellular market licensees in areas adjacent to or in proximity to its other markets thereby building clusters in operating markets. United States Cellular Corp has a market cap of $3.29 billion; its shares were traded at around $37.85 with a P/E ratio of 10.9 and P/S ratio of 0.7. United States Cellular Corp had an annual average earning growth of 10.9% over the past 10 years. GuruFocus rated United States Cellular Corp the business predictability rank of 4-star.
