Wallace Weitz

Wallace Weitz

Last Update: 08-13-2018

Number of Stocks: 76
Number of New Stocks: 6

Total Value: $2,316 Mil
Q/Q Turnover: 6%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Wallace Weitz' s Profile & Performance

Profile

Portfolio manager of Weitz Value Fund, Weitz Hickory Fund and Weitz Partners Value Fund, which he started in 1983.

Web Page:http://www.weitzfunds.com/

Investing Philosophy

Weitz's approach to value investing has evolved over the years. It combines Graham's price sensitivity and insistence on a "margin of safety" with a conviction that qualitative factors that allow a company to have some control over its destiny can be more important than statistical measurements, such as historical book value or reported earnings.

Historical Allocation of Stock, Bonds, Cash

Total Holding History

Performance of Weitz Partners Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
201711.4621.71-10.2
20166.2211.99-5.8
2015-9.251.24-10.5
3-Year Cumulative7.4 (2.4%/year)38 (11.3%/year)-30.6 (-8.9%/year)
20147.9113.47-5.6
201330.8732.3-1.4
5-Year Cumulative51.7 (8.7%/year)107.2 (15.7%/year)-55.5 (-7%/year)
201217.9215.991.9
20112.191.90.3
201027.4915.0512.4
200931.326.354.9
2008-38.06-36.79-1.3
10-Year Cumulative89.6 (6.6%/year)125 (8.4%/year)-35.4 (-1.8%/year)
2007-8.545.14-13.7
200622.5315.856.7
2005-2.424.83-7.2
200414.9910.74.3
200325.3828.19-2.8
15-Year Cumulative198.9 (7.6%/year)307.7 (9.8%/year)-108.8 (-2.2%/year)
2002-16.99-21.584.6
2001-0.86-11.7610.9
200021.07-9.7530.8
199922.0220.41.6
199829.1328.70.4
20-Year Cumulative369.2 (8%/year)294.5 (7.1%/year)74.7 (0.9%/year)
199740.6433.477.2
199619.0422.49-3.4
199538.6638.040.6
1994-8.970.4-9.4
199323.0310.0813.0
25-Year Cumulative1119.9 (10.5%/year)883.9 (9.6%/year)236 (0.9%/year)
199215.147.627.5
19912830.47-2.5
1990-6.35-3.1-3.2
198920.2531.69-11.4
198814.9316.61-1.7
30-Year Cumulative2227 (11.1%/year)1955.8 (10.6%/year)271.2 (0.5%/year)
19874.255.1-0.8
198611.1618.6-7.4
198540.7231.69.1
198414.436.18.3

Top Ranked Articles

Wally Weitz Podcast Interview Transcript The latest GuruFocus interview with Guru Wally Weitz in text
Holly: Hi. Welcome to the GuruFocus podcast. I’m Holly, and I am the editor of GuruFocus, and I am here with Wally Weitz. He is the owner of the Weitz Investments, and that’s in Omaha, where another famous investor you may have heard of is also, an investor, Warren Buffett (Trades, Portfolio). Read more...
Interview With Star Investor Wally Weitz: GuruFocus Podcast Ep. 6 Weitz talks about finding value in an expensive market, his stock picks and more
Leading value investor Wally Weitz discusses his winning strategy for selecting stocks and his perspective on expensive markets in this episode of the GuruFocus Podcast. Read more...
Some Big Brewers Get a Market Assist Gurus trust the brewers will become good, stable cash-generating investments, even though beer sales are declining in the US
A vigorous day for trading spilled over to the world’s largest brewing companies. Read more...
Wally Weitz Comments on Priceline Group Guru stock highlight
The Fund established a starter position in Priceline Group (NASDAQ:PCLN) during the quarter. Priceline is an online travel agency that gathers lodging, airline, car rental and other travel-related inventory in a centralized, digital marketplace for convenient discovery and booking by travelers around the globe. Priceline’s strength lies internationally, particularly in Europe. Booking.com, its flagship platform, has built relationships with some 700,000 unique hotels and 800,000 vacation rental properties around the world, providing scale and brand focus that enables the company to acquire new customers more efficiently than peevrs. Priceline’s future growth rate is likely to slow as it increases in size, but we expect the business to continue to benefit as bookings shift from offline to more convenient online channels. We anticipate the inherent cyclicality of global travel providing periodic opportunities to build on our initial position. Read more...
Value Investor Wally Weitz Buys Amazon Stock trades at 346 times earnings
Prominent value investor Wally Weitz, co-chief investment officer and portfolio manager of Weitz Investment Management, added Amazon.com (NASDAQ:AMZN) to his Partners III Opportunity Fund in the fourth quarter, he said in a letter. Read more...
» More Wallace Weitz Articles

Commentaries and Stories

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Wally Weitz Comments on Liberty Global Guru stock highlight
Liberty Global (NASDAQ:LBTYA) (-13%) also underperformed in the quarter despite the announcement of a deal to sell its German cable assets at an attractive multiple. Investors seemed disappointed the transaction announcement didn’t include a commitment for how management will use the proceeds, and they showed some concern over the outcome of what is sure to be a lengthy regulatory review. We understand management’s desire to maintain flexibility, given an expected deal close in mid-2019, and trust they will allocate the proceeds in a manner that creates value for all shareholders. More...

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Wally Weitz Comments on Liberty Broadband Guru stock highlight
The Fund’s top (long) detractor for the quarter was Liberty Broadband (NASDAQ:LBRDA) (-11%), a holding company that owns a significant stake in U.S. broadband and cable TV provider Charter Communications. Progress in Charter’s integration of Time Warner Cable and Bright House Networks has come in fits and starts, making it difficult for analysts to forecast results in any given quarter. We continue to have strong conviction in Charter’s long-term opportunities and position as an advantaged provider of broadband connectivity. Investors are encouraged to read our Analyst Corner feature on Charter for a more in-depth discussion. More...

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Wally Weitz Comments on XO Group Guru stock highlight
Although we didn’t fully exit any long positions this quarter, we sold nearly all our shares of XO Group (NYSE:XOXO) (+54% and a top contributor to quarterly performance) at a healthy profit. Longtime shareholders will recall XO entered the portfolio as TheKnot.com. A few years into our holding period, XO installed the current management team, led by CEO Michael Steib and CFO Gillian Munson, who successfully leveraged The Knot’s strength in the bridal market to build an enviable advertising and services business catering to an incredibly attractive audience. The business model has resonated with brides, advertisers, vendors and the investment community alike, and the recent rally saw shares trading above our base case business value. More...

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Wally Weitz Comments on Marvell Technology Group Guru stock highlight
We also initiated a new position in specialized semiconductor provider Marvell Technology Group (NASDAQ:MRVL). Marvell’s acquisition of Cavium (another semiconductor company) required approvals of regulators in both the U.S. and China, and shares were temporarily pressured as heated trade rhetoric had the potential to scuttle the deal. Regulators ultimately approved the deal, closing in early July, and we expect Marvell shareholders to benefit from this value-creating transaction. More...

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Wally Weitz Comments on Facebook Guru stock highlight
We added social networking giant Facebook (NASDAQ:FB) during the quarter as it works to recover from recent election and privacy controversies. These issues are far from simple, but we believe Facebook’s position as the dominant social network remains well entrenched, with plenty of interesting opportunities for additional value creation through their other platforms: Instagram, Messenger and WhatsApp. More...

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Wally Weitz's Partners III Opportunity Fund 2nd Quarter Commentary Discussion of markets and holdings Wallace Weitz - Wally Weitz's Partners III Opportunity Fund 2nd Quarter Commentary
The Partners III Opportunity Fund’s Institutional Class returned +0.93% in the second calendar quarter compared to +3.43% for the S&P 500 and +3.89% for the Russell 3000. For the calendar year to date, the Partners III Opportunity Fund’s Institutional Class returned +2.75% compared to +2.65% for the S&P 500 and +3.22% for the Russell 3000. More...

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2 Stalwarts by Weitz Investment Management Ideas of Wally Weitz discussed Wallace Weitz - 2 Stalwarts By Weitz Investment Management
Weitz Investment Management combines traditional value investing with a modern qualitative review of investments. Weitz just published his latest quarterly report. Before I discuss two of his interesting investments, a couple of remarkable quotes (emphasis is always mine): More...

LONG, BIOTECH, CABLE, SPY


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Wallace Weitz's July Value Matters The stock market wobbled in the first quarter, and we gave a little cheer Wallace Weitz - Wallace Weitz's July Value Matters
Dear Fellow Investor, More...

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Weitz Funds' Analyst Corner: An Introduction to Axalta Coating Systems Research note on Wally Weitz's stock Wallace Weitz - Weitz Funds' Analyst Corner: An Introduction To Axalta Coating Systems
Axalta (NYSE:AXTA) is a global leader in coatings (paint) for automotive and industrial end markets. They serve light vehicle and commercial vehicle OEMs (original equipment manufacturers) and auto body shops through their automotive refinish segment. Over the past five years, management has pushed to expand their industrial coatings business both through internal investment and bolt-on mergers and acquisitions (M&A). Their industrial coatings segment consists of pipe coatings; powder and coil coatings for appliances, machinery, and architectural end markets; electrical insulation coatings; and most recently wood coatings via their acquisition of Valspar’s North American wood coatings business. More...

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Some Big Brewers Get a Market Assist Gurus trust the brewers will become good, stable cash-generating investments, even though beer sales are declining in the US Wallace Weitz, Jim Simons, Jeff Auxier, George Sor - Some Big Brewers Get A Market Assist
A vigorous day for trading spilled over to the world’s largest brewing companies. More...

BEER, BREWERS, GAIN, UP


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Wally Weitz Buys 4 New Stocks, Axes Amazon Weitz discloses moves early in 1st quarter letter Wallace Weitz - Wally Weitz Buys 4 New Stocks, Axes Amazon
Widely followed investor Wally Weitz purchased shares of CarMax (NYSE:KMX), Tupperware Brands (NYSE:TUP), Oracle (NYSE:ORCL) and Markel (NYSE:MKL), he disclosed in a first-quarter shareholder letter Tuesday. More...

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Wally Weitz's Partners III Opportunity Fund 1st Quarter Commentary Review of holdings and markets Wallace Weitz - Wally Weitz's Partners III Opportunity Fund 1st Quarter Commentary
The Partners III Opportunity Fund’s Institutional Class returned +1.80% in the first calendar quarter compared to -0.76% for the S&P 500 and -0.64% for the Russell 3000 indices. For the fiscal year, the Fund’s Institutional Class returned +2.01% compared to +13.99% for the S&P 500 and +13.81% for the Russell 3000. The recent bout of market volatility proved a more constructive backdrop for the Fund’s strategy, generating positive absolute and relative results, and closed an otherwise challenging fiscal year (for us, and value investors, generally) on a more positive note. More...

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Wally Weitz Value Matters for 1st Quarter In the first quarter of 2018, we saw the first serious market volatility in two years Wallace Weitz - Wally Weitz Value Matters For 1st Quarter
Dear Fellow Investor, More...

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Wally Weitz Exits UPS, Trims QVC Group, Wells Fargo Positions Guru's largest sales of the 4th quarter Wallace Weitz - Wally Weitz Exits UPS, Trims QVC Group, Wells Fargo Positions
Wallace Weitz (Trades, Portfolio), co-chief investment officer and portfolio manager at Weitz Investment Management, sold shares of the following stocks in the fourth quarter. More...

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Transdigm: Can It Meet Value Investing Hurdles? Aircraft parts maker is assessed using the criteria of Thomas Macpherson Chase Coleman, Wallace Weitz, Ron Baron - Transdigm: Can It Meet Value Investing Hurdles?
From the Undervalued Predictable screener at GuruFocus comes Transdigm Group Inc. (NYSE:TDG), a $14.9 billion company. More...

UNDERVALUED PREDICTABLE, AEROSPACE & DEFENSE, DISCOUNTED CASH FLOW, PREDICTABILITY, AIRCRAFT COMPONENTS, INTELLECTUAL PROPERTY, PATENTS, GREAT COMPANIES, GREAT PRICES, THOMAS MACPHERSON, COMPETITIVE M


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Weitz Funds Commentary: An Introduction to The Priceline Group By Jon Baker, CFA Wallace Weitz - Weitz Funds Commentary: An Introduction To The Priceline Group
The Priceline Group (PCLN) is a collection of online travel agencies (OTAs) and metasearch engines, including such brands as the eponymous Priceline.com, Kayak, Open Table and the global OTA Booking.com. The Group has its beginnings in the promulgator of the Name Your Own Price bidding model, Priceline.com, founded by Jay Walker in 1997. The company strayed from travel in its formative years, but by 2002, newly tabbed CEO Jeff Boyd had refocused its approach. More...

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Wally Weitz Establishes 4 Positions in 4th Quarter Top buys include Priceline and JPMorgan Chase Wallace Weitz - Wally Weitz Establishes 4 Positions In 4th Quarter
Wallace Weitz (Trades, Portfolio), portfolio manager of Weitz Investment Management, disclosed on Thursday four new stock holdings for fourth-quarter 2017: The Priceline Group Inc. (PCLN), JPMorgan Chase & Co. (NYSE:JPM), Marvell Technology Group Inc. (NASDAQ:MRVL) and Vulcan Materials Co. (NYSE:VMC). More...

WALLACE WEITZ


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Wally Weitz Comments on Priceline Group Guru stock highlight
The Fund established a starter position in Priceline Group (NASDAQ:PCLN) during the quarter. Priceline is an online travel agency that gathers lodging, airline, car rental and other travel-related inventory in a centralized, digital marketplace for convenient discovery and booking by travelers around the globe. Priceline’s strength lies internationally, particularly in Europe. Booking.com, its flagship platform, has built relationships with some 700,000 unique hotels and 800,000 vacation rental properties around the world, providing scale and brand focus that enables the company to acquire new customers more efficiently than peevrs. Priceline’s future growth rate is likely to slow as it increases in size, but we expect the business to continue to benefit as bookings shift from offline to more convenient online channels. We anticipate the inherent cyclicality of global travel providing periodic opportunities to build on our initial position. More...

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Wally Weitz Comments on Liberty Broadband Guru stock highlight
Shares of Liberty Broadband (NASDAQ:LBRDA), which represent Liberty Media’s 26% stake in Charter Communications, declined ~11% during the fourth quarter. In October, Charter reported a larger-than-expected decline in video subscribers and slower growth in the high- speed data (i.e., broadband) business. While strategic interest in Charter’s core cable assets appears to remain high, management continues to believe the most tax- efficient path to maximizing shareholder value is by gradually improving the Time Warner Cable and Brighthouse assets standalone. Despite the fourth-quarter breather, shares of Liberty Broadband were healthy contributors to full-year performance. More...

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Wally Weitz Comments on Allergan plc Guru stock highlight
On the other side of the ledger, Allergan plc (NYSE:AGN) was the largest detractor from Fund performance during the fourth quarter and calendar year. Following the invalidation of dry eye drug Restasis’s patents in federal court in October, we once again tested the assumptions underlying our valuation scenarios. The earlier-than-expected loss of Restasis profits and more conservative forecasts for the company’s aesthetics franchise resulted in a downward revision to our base case estimate of intrinsic value. The drop in Allergan’s stock price, however, has been far more pronounced, so we added to our position at $173 during the quarter. More...

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