This is the portfolio update for value investor Wally Weitz. Wallace Weitz owns 68 stocks with a total value of $2 billion.
Weitz Funds had a good year. He wrote in his third quarter shareholder letter: The small/mid-cap Hickory Fund showed the best year-to-date results (+23.3%), followed by the “go anywhere” funds, Partners III (+19.3%) and Partners Value (+15.2%). The large-cap Value Fund returned “only” +9.3% but still exceeded the S&P 500 return (+3.9%) by a wide margin.
He said that he is finding opportunities. He wrote, as we wrote last quarter, we are finding more and more bargains among the “lagging” large-cap universe, so we suspect that Value will eventually have its turn to lead the others.
Wallace Weitz buys Baxter International Inc., Knology Inc., Prestige Brands Holdings Inc., Iconix Brand Group Inc., Td Ameritrade Holding Corp., Kennedywilson Holdings Inc., sells Itt Educational Services Inc., Hewitt Associates Inc., Hsn, Inc., Liberty Global Inc., The Progressive Corp., Potash Corp. Of Saskatchewan Inc., Unitedhealth Group Inc., Wellpoint Inc. during the 3-months ended 09/30/2010, according to the most recent filings of his investment company, Weitz Wallace R & Co. Wallace Weitz owns 68 stocks with a total value of $2 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
Added: Texas Instruments Inc. (TXN)
Wallace Weitz added to his holdings in Texas Instruments Inc. by 85.88%. His purchase prices were between $23.02 and $27.06, with an estimated average price of $24.83. The impact to his portfolio due to this purchase was 1.73%. His holdings were 2,788,800 shares as of 09/30/2010.
Texas Instruments, Inc. is a global semiconductor company and one of the world's designers and suppliers of digital signal processors and analog integrated circuits, the engines driving the digitization of electronics. Texas Instruments Inc. has a market cap of $37.46 billion; its shares were traded at around $31.34 with a P/E ratio of 13.2 and P/S ratio of 3.6. The dividend yield of Texas Instruments Inc. stocks is 1.7%. Texas Instruments Inc. had an annual average earning growth of 4.2% over the past 5 years.
Added: Grand Canyon Education Inc. (LOPE)
Wallace Weitz added to his holdings in Grand Canyon Education Inc. by 122.24%. His purchase prices were between $15.67 and $24.41, with an estimated average price of $19.95. The impact to his portfolio due to this purchase was 1.28%. His holdings were 2,143,429 shares as of 09/30/2010.
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. Grand Canyon Education Inc. has a market cap of $837.2 million; its shares were traded at around $18.29 with a P/E ratio of 19.7 and P/S ratio of 3.2.
Added: Aon (AON)
Wallace Weitz added to his holdings in Aon by 46.91%. His purchase prices were between $35.62 and $39.62, with an estimated average price of $37.49. The impact to his portfolio due to this purchase was 1.19%. His holdings were 1,918,650 shares as of 09/30/2010.
Aon Corporation is a holding company whose operating subsidiaries carry onbusiness in three distinct segments: insurance brokerage and other services; consulting; and insurance underwriting. Aon has a market cap of $11.26 billion; its shares were traded at around $41.61 with a P/E ratio of 13.1 and P/S ratio of 1.5. The dividend yield of Aon stocks is 1.5%. Aon had an annual average earning growth of 2.7% over the past 10 years.
Added: Sandridge Energy Inc (SD)
Wallace Weitz added to his holdings in Sandridge Energy Inc by 72.34%. His purchase prices were between $4 and $6.58, with an estimated average price of $5.18. The impact to his portfolio due to this purchase was 0.95%. His holdings were 8,035,700 shares as of 09/30/2010.
SandRidge Energy, Inc. is an oil and natural gas company headquartered in Oklahoma City with its principal focus on exploration and production. Sandridge Energy Inc has a market cap of $2.12 billion; its shares were traded at around $5.23 with a P/E ratio of 16.8 and P/S ratio of 3.5.
Added: Omnicare Inc. (OCR)
Wallace Weitz added to his holdings in Omnicare Inc. by 21.55%. His purchase prices were between $19.2 and $26.45, with an estimated average price of $22.38. The impact to his portfolio due to this purchase was 0.93%. His holdings were 4,406,973 shares as of 09/30/2010.
Omnicare, Inc., a Fortune five hundred company based in Covington, Kentucky, is a provider of pharmaceutical care for the elderly. Omnicare Inc. has a market cap of $3.04 billion; its shares were traded at around $25.74 with a P/E ratio of 11.2 and P/S ratio of 0.5. The dividend yield of Omnicare Inc. stocks is 0.5%. Omnicare Inc. had an annual average earning growth of 7.8% over the past 10 years.
Added: Live Nation Inc. (LYV)
Wallace Weitz added to his holdings in Live Nation Inc. by 88.93%. His purchase prices were between $8.43 and $11.43, with an estimated average price of $9.52. The impact to his portfolio due to this purchase was 0.74%. His holdings were 3,199,295 shares as of 09/30/2010.
Live Nation Entertainment, Inc. is the world's premier live entertainment company, consisting of Live Nation, Ticketmaster and Front Line Management Group. Live Nation Inc. has a market cap of $1.75 billion; its shares were traded at around $10.07 with and P/S ratio of 0.4. Live Nation Inc. had an annual average earning growth of 7.5% over the past 5 years.
Added: Omnicom Group Inc. (OMC)
Wallace Weitz added to his holdings in Omnicom Group Inc. by 90.66%. His purchase prices were between $33.77 and $39.79, with an estimated average price of $37.05. The impact to his portfolio due to this purchase was 0.57%. His holdings were 605,336 shares as of 09/30/2010.
Omnicom Group Inc. provides corporate communications services to clients worldwide on a global, pan-regional, national and local basis. Omnicom Group Inc. has a market cap of $14.01 billion; its shares were traded at around $46.49 with a P/E ratio of 17.8 and P/S ratio of 1.2. The dividend yield of Omnicom Group Inc. stocks is 1.7%. Omnicom Group Inc. had an annual average earning growth of 9% over the past 10 years. GuruFocus rated Omnicom Group Inc. the business predictability rank of 5-star.
Added: Ascent Media Corporation - Series A Common Stock (ASCMA)
Wallace Weitz added to his holdings in Ascent Media Corporation - Series A Common Stock by 395%. His purchase prices were between $25.27 and $28.85, with an estimated average price of $27.14. The impact to his portfolio due to this purchase was 0.53%. His holdings were 495,000 shares as of 09/30/2010.
ASCENT MEDIA GROUP provides creative and network services to the media and entertainment industries in the United States, the United Kingdom and Singapore. Ascent Media Corporation - Series A Common Stock has a market cap of $388.8 million; its shares were traded at around $28.68 with and P/S ratio of 0.9.
Added: Dell Inc. (DELL)
Wallace Weitz added to his holdings in Dell Inc. by 13.32%. His purchase prices were between $11.585 and $13.74, with an estimated average price of $12.62. The impact to his portfolio due to this purchase was 0.5%. His holdings were 6,564,825 shares as of 09/30/2010.
Dell Inc. is a premier provider of products and services required for customers worldwide to build their information-technology and Internet infrastructures. Dell Inc. has a market cap of $28.18 billion; its shares were traded at around $14.49 with a P/E ratio of 12.8 and P/S ratio of 0.5. Dell Inc. had an annual average earning growth of 4.1% over the past 10 years.
Added: Laboratory Corp. Of America Holdings (LH)
Wallace Weitz added to his holdings in Laboratory Corp. Of America Holdings by 33.14%. His purchase prices were between $72.24 and $78.15, with an estimated average price of $75.2. The impact to his portfolio due to this purchase was 0.47%. His holdings were 482,500 shares as of 09/30/2010.
Laboratory Corporation of America Holdings, is one of the largest independent clinical laboratory company's in the United States. Laboratory Corp. Of America Holdings has a market cap of $8.53 billion; its shares were traded at around $82.93 with a P/E ratio of 15.4 and P/S ratio of 1.8. Laboratory Corp. Of America Holdings had an annual average earning growth of 17.6% over the past 10 years.
Added: Apollo Group Inc. (APOL)
Wallace Weitz added to his holdings in Apollo Group Inc. by 20.35%. His purchase prices were between $38.94 and $51.66, with an estimated average price of $45.25. The impact to his portfolio due to this purchase was 0.38%. His holdings were 874,250 shares as of 09/30/2010.
Apollo Group, Inc. has been providing higher education to working adults for over 25 years. Apollo Group Inc. has a market cap of $5.4 billion; its shares were traded at around $36.63 with a P/E ratio of 6.9 and P/S ratio of 1.1. Apollo Group Inc. had an annual average earning growth of 26.4% over the past 10 years. GuruFocus rated Apollo Group Inc. the business predictability rank of 4-star.
Added: Martin Marietta Materials Inc. (MLM)
Wallace Weitz added to his holdings in Martin Marietta Materials Inc. by 14.45%. His purchase prices were between $72.61 and $88.4, with an estimated average price of $80.1. The impact to his portfolio due to this purchase was 0.33%. His holdings were 683,225 shares as of 09/30/2010.
Martin Marietta Materials producer of aggregates for the construction industry, including highways, infrastructure, commercial and residential. Martin Marietta Materials Inc. has a market cap of $4.03 billion; its shares were traded at around $88.59 with a P/E ratio of 52.2 and P/S ratio of 2.4. The dividend yield of Martin Marietta Materials Inc. stocks is 1.8%. Martin Marietta Materials Inc. had an annual average earning growth of 7.7% over the past 10 years.
Added: Lockheed Martin Corp. (LMT)
Wallace Weitz added to his holdings in Lockheed Martin Corp. by 20.97%. His purchase prices were between $68.48 and $76.15, with an estimated average price of $72.81. The impact to his portfolio due to this purchase was 0.18%. His holdings were 288,480 shares as of 09/30/2010.
Lockheed Martin Corp. is a global enterprise principally engaged in the research, design, development, manufacture and integration of advanced-technology systems, products and services. Lockheed Martin Corp. has a market cap of $26.07 billion; its shares were traded at around $71.92 with a P/E ratio of 10.1 and P/S ratio of 0.6. The dividend yield of Lockheed Martin Corp. stocks is 3.4%. Lockheed Martin Corp. had an annual average earning growth of 17% over the past 10 years. GuruFocus rated Lockheed Martin Corp. the business predictability rank of 2.5-star.
Added: Accenture Ltd (ACN)
Wallace Weitz added to his holdings in Accenture Ltd by 3.45%. His purchase prices were between $36.6 and $42.43, with an estimated average price of $39.48. The impact to his portfolio due to this purchase was 0.12%. His holdings were 1,769,890 shares as of 09/30/2010.
Accenture Limited is a management consulting, technology services and outsourcing organization. Accenture Ltd has a market cap of $28.84 billion; its shares were traded at around $45.5 with a P/E ratio of 17.1 and P/S ratio of 1.2. The dividend yield of Accenture Ltd stocks is 2%. Accenture Ltd had an annual average earning growth of 16.2% over the past 10 years. GuruFocus rated Accenture Ltd the business predictability rank of 3-star.
Added: Liberty Media Corp. Capital Common Serie (LCAPA)
Wallace Weitz added to his holdings in Liberty Media Corp. Capital Common Serie by 10.28%. His purchase prices were between $41.21 and $52.88, with an estimated average price of $46.89. The impact to his portfolio due to this purchase was 0.12%. His holdings were 501,108 shares as of 09/30/2010.
Liberty Media Corporation owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Liberty Media Corp. Capital Common Serie has a market cap of $4.73 billion; its shares were traded at around $59.1 with a P/E ratio of 74.9 and P/S ratio of 7.3.
Added: Compass Minerals International Inc. (CMP)
Wallace Weitz added to his holdings in Compass Minerals International Inc. by 20.54%. His purchase prices were between $70.68 and $79.49, with an estimated average price of $74.04. The impact to his portfolio due to this purchase was 0.06%. His holdings were 95,640 shares as of 09/30/2010.
Compass Minerals is the largest producer of rock, or highway deicing, salt in North America and the United Kingdom and operates the largest highway deicing salt mines in these regions. Compass Minerals International Inc. has a market cap of $2.65 billion; its shares were traded at around $81 with a P/E ratio of 17.7 and P/S ratio of 2.8. The dividend yield of Compass Minerals International Inc. stocks is 1.9%. Compass Minerals International Inc. had an annual average earning growth of 16.9% over the past 5 years.
Added: Flir Systems Inc. (FLIR)
Wallace Weitz added to his holdings in Flir Systems Inc. by 71.43%. His purchase prices were between $24.38 and $30.66, with an estimated average price of $28.08. The impact to his portfolio due to this purchase was 0.03%. His holdings were 60,000 shares as of 09/30/2010.
FLIR Systems, Inc. designs, manufactures and markets thermal imaging and broadcast camera systems for applications in the commercial and government markets. Flir Systems Inc. has a market cap of $4.56 billion; its shares were traded at around $28.82 with a P/E ratio of 19.1 and P/S ratio of 4. Flir Systems Inc. had an annual average earning growth of 25.6% over the past 5 years.
Added: Ehealth Inc. (EHTH)
Wallace Weitz added to his holdings in Ehealth Inc. by 42.86%. His purchase prices were between $9.54 and $12.75, with an estimated average price of $11.04. The impact to his portfolio due to this purchase was 0.02%. His holdings were 100,000 shares as of 09/30/2010.
eHealth, Inc. is the parent company of eHealthInsurance, the online source of health insurance for individuals, families and small businesses. Ehealth Inc. has a market cap of $340.8 million; its shares were traded at around $14.47 with a P/E ratio of 24.5 and P/S ratio of 2.6.
Added: Devon Energy Corp. (DVN)
Wallace Weitz added to his holdings in Devon Energy Corp. by 142.86%. His purchase prices were between $59.79 and $65.68, with an estimated average price of $62.91. The impact to his portfolio due to this purchase was 0.02%. His holdings were 8,500 shares as of 09/30/2010.
Devon Energy Corporation is an independent energy company engaged primarily in oil and gas exploration, development and production, and in the acquisition of producing properties. Devon Energy Corp. has a market cap of $31.28 billion; its shares were traded at around $71.9 with a P/E ratio of 11.2 and P/S ratio of 4. The dividend yield of Devon Energy Corp. stocks is 0.9%.
Added: Eog Resources Inc. (EOG)
Wallace Weitz added to his holdings in Eog Resources Inc. by 55.56%. His purchase prices were between $86.62 and $106.81, with an estimated average price of $96.02. The impact to his portfolio due to this purchase was 0.01%. His holdings were 7,000 shares as of 09/30/2010.
EOG Resources, Inc. is engaged, either directly or through a marketing subsidiary with regard to domestic operations or through various subsidiaries with regard to international operations, in the exploration for, and the development, production and marketing of, natural gas and crude oil primarily in major producing basins in the United States, as well as in Canada and Trinidad. Eog Resources Inc. has a market cap of $23.8 billion; its shares were traded at around $93.88 with a P/E ratio of 54 and P/S ratio of 4.9. The dividend yield of Eog Resources Inc. stocks is 0.7%. Eog Resources Inc. had an annual average earning growth of 17.4% over the past 10 years. GuruFocus rated Eog Resources Inc. the business predictability rank of 4.5-star.
Added: Tree.com, Inc. (TREE)
Wallace Weitz added to his holdings in Tree.com, Inc. by 25%. His purchase prices were between $6.02 and $7.44, with an estimated average price of $7.01. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 50,000 shares as of 09/30/2010.
TREE.COM, INC. is the parent of several well-known brands and businesses in the financial services and real estate industries including LendingTree, LendingTree Loans(sm), GetSmart. Tree.com, Inc. has a market cap of $76.1 million; its shares were traded at around $7.09 with and P/S ratio of 0.4.
New Purchase: Baxter International Inc. (BAX, Financial)
Wallace Weitz initiated holdings in Baxter International Inc.. His purchase prices were between $41.65 and $48.02, with an estimated average price of $44.46. The impact to his portfolio due to this purchase was 0.82%. His holdings were 345,100 shares as of 09/30/2010.
Baxter engages in the worldwide development, manufacture and distribution of a diversified line of products, systems and services used primarily in the health-care field. Baxter International Inc. has a market cap of $30.33 billion; its shares were traded at around $51.9 with a P/E ratio of 13.4 and P/S ratio of 2.4. The dividend yield of Baxter International Inc. stocks is 2.3%. Baxter International Inc. had an annual average earning growth of 7.1% over the past 10 years. GuruFocus rated Baxter International Inc. the business predictability rank of 3.5-star.
New Purchase: Knology Inc. (KNOL, Financial)
Wallace Weitz initiated holdings in Knology Inc.. His purchase prices were between $10.66 and $13.39, with an estimated average price of $12.18. The impact to his portfolio due to this purchase was 0.13%. His holdings were 196,001 shares as of 09/30/2010.
Knology is a facilities-based provider of bundled broadband communications services to residential and business customers in the southeastern United States. Knology Inc. has a market cap of $545.7 million; its shares were traded at around $14.74 with a P/E ratio of 35 and P/S ratio of 1.2. Knology Inc. had an annual average earning growth of 22% over the past 5 years.
New Purchase: Prestige Brands Holdings Inc. (PBH)
Wallace Weitz initiated holdings in Prestige Brands Holdings Inc.. His purchase prices were between $7.21 and $9.93, with an estimated average price of $7.91. The impact to his portfolio due to this purchase was 0.12%. His holdings were 240,000 shares as of 09/30/2010.
Prestige Brands Holdings is a marketer and distributor of brand name over- the-counter drug, personal care and household cleaning products sold throughout the United States and Canada. Prestige Brands Holdings Inc. has a market cap of $553.5 million; its shares were traded at around $11.06 with a P/E ratio of 13.9 and P/S ratio of 1.8.
New Purchase: Iconix Brand Group Inc. (ICON, Financial)
Wallace Weitz initiated holdings in Iconix Brand Group Inc.. His purchase prices were between $13.32 and $17.75, with an estimated average price of $16.06. The impact to his portfolio due to this purchase was 0.11%. His holdings were 130,000 shares as of 09/30/2010.
Iconix Brand Group, Inc. is in the business of licensing the CANDIE'S, BONGO, BADGLEY MISCHKA and JOE BOXER trademarks on a variety of footwear, apparel and fashion products. Iconix Brand Group Inc. has a market cap of $1.29 billion; its shares were traded at around $17.85 with a P/E ratio of 12.5 and P/S ratio of 5.5.
New Purchase: Td Ameritrade Holding Corp. (AMTD, Financial)
Wallace Weitz initiated holdings in Td Ameritrade Holding Corp.. His purchase prices were between $14.62 and $16.86, with an estimated average price of $15.63. The impact to his portfolio due to this purchase was 0.06%. His holdings were 80,000 shares as of 09/30/2010.
TD Ameritrade Holding Corporation has a servicing self-directed investors through its brokerage subsidiaries. Td Ameritrade Holding Corp. has a market cap of $10.05 billion; its shares were traded at around $17.45 with a P/E ratio of 18 and P/S ratio of 4. Td Ameritrade Holding Corp. had an annual average earning growth of 12.2% over the past 5 years.
New Purchase: Kennedywilson Holdings Inc. (KW, Financial)
Wallace Weitz initiated holdings in Kennedywilson Holdings Inc.. His purchase prices were between $9.37 and $10.83, with an estimated average price of $10.09. The impact to his portfolio due to this purchase was 0.01%. His holdings were 20,000 shares as of 09/30/2010.
Kennedy Wilson is a vertically-integrated real estate investment and services company. Kennedywilson Holdings Inc. has a market cap of $434 million; its shares were traded at around $10.51 with and P/S ratio of 5.1.
Reduced: Energizer Holdings Inc. (ENR)
Wallace Weitz reduced to his holdings in Energizer Holdings Inc. by 30.83%. His sale prices were between $49.76 and $71.26, with an estimated average price of $62.15. The impact to his portfolio due to this sale was -0.19%. Wallace Weitz still held 183,300 shares as of 09/30/2010.
Energizer Holdings is the world's largest manufacturer of primary batteries and flashlights and a global leader in the dynamic business of providing portable power. Energizer Holdings Inc. has a market cap of $4.82 billion; its shares were traded at around $68.69 with a P/E ratio of 13.2 and P/S ratio of 1.2. Energizer Holdings Inc. had an annual average earning growth of 18.5% over the past 10 years. GuruFocus rated Energizer Holdings Inc. the business predictability rank of 4.5-star.
Reduced: Weight Watchers International Inc. (WTW)
Wallace Weitz reduced to his holdings in Weight Watchers International Inc. by 44.56%. His sale prices were between $24.84 and $31.92, with an estimated average price of $28.59. The impact to his portfolio due to this sale was -0.38%. Wallace Weitz still held 555,972 shares as of 09/30/2010.
Weight Watchers International, Inc. is the largest provider of weight control programs in the world. Weight Watchers International Inc. has a market cap of $2.48 billion; its shares were traded at around $32.86 with a P/E ratio of 12.9 and P/S ratio of 1.8. The dividend yield of Weight Watchers International Inc. stocks is 2.1%. Weight Watchers International Inc. had an annual average earning growth of 12.7% over the past 10 years.
Reduced: Tel And Data Sys (TDS.S)
Wallace Weitz reduced to his holdings in Tel And Data Sys by 34.15%. His sale prices were between $25.28 and $30.46, with an estimated average price of $27.7. The impact to his portfolio due to this sale was -0.43%. Wallace Weitz still held 885,837 shares as of 09/30/2010.
Telephone & Data Systems is a diversified telecommunications corporation. Tel And Data Sys has a market cap of $1.43 billion; its shares were traded at around $30.78 with and P/S ratio of 0.3. The dividend yield of Tel And Data Sys stocks is 1.8%.
Reduced: Lstza (LSTZA)
Wallace Weitz reduced to his holdings in Lstza by 24.03%. His sale prices were between $51.39 and $65.12, with an estimated average price of $57.99. The impact to his portfolio due to this sale was -0.44%. Wallace Weitz still held 576,050 shares as of 09/30/2010.
Liberty Starz Group is a significant operating subsidiary and also a principal reportable segment of Liberty Media Corporation which focuses primarily on video programming, communications businesses, and the direct-to-home satellite distribution business. Lstza has a market cap of $3.13 billion; its shares were traded at around $64.02 with a P/E ratio of 18.6 and P/S ratio of 2.6.
Reduced: Willis Group Holdings Ltd. (WSH)
Wallace Weitz reduced to his holdings in Willis Group Holdings Ltd. by 52.78%. His sale prices were between $29.04 and $32.1, with an estimated average price of $30.79. The impact to his portfolio due to this sale was -0.45%. Wallace Weitz still held 560,370 shares as of 09/30/2010.
Willis Group is a global insurance broker providing specialized risk management, advisory, and other services to a broad range of corporate andinstitutional clients, with particular expertise in the construction, aerospace, marine and energy industries. Willis Group Holdings Ltd. has a market cap of $5.6 billion; its shares were traded at around $32.87 with a P/E ratio of 12.4 and P/S ratio of 1.7. The dividend yield of Willis Group Holdings Ltd. stocks is 3.2%. Willis Group Holdings Ltd. had an annual average earning growth of 8.3% over the past 10 years.
Reduced: Autozone Inc. (AZO)
Wallace Weitz reduced to his holdings in Autozone Inc. by 67.29%. His sale prices were between $194.66 and $230.56, with an estimated average price of $211.42. The impact to his portfolio due to this sale was -0.46%. Wallace Weitz still held 60,000 shares as of 09/30/2010.
Autozone is the nation's specialty retailer of automotive parts and accessories, primarily focusing on do-it-yourself customers. Autozone Inc. has a market cap of $11.11 billion; its shares were traded at around $248.95 with a P/E ratio of 16.5 and P/S ratio of 1.5. Autozone Inc. had an annual average earning growth of 17.9% over the past 10 years. GuruFocus rated Autozone Inc. the business predictability rank of 4.5-star.
Reduced: Tyco International Ltd. (switzerland) (TYC)
Wallace Weitz reduced to his holdings in Tyco International Ltd. (switzerland) by 23.29%. His sale prices were between $34.43 and $39.79, with an estimated average price of $37.75. The impact to his portfolio due to this sale was -0.52%. Wallace Weitz still held 1,230,200 shares as of 09/30/2010.
Tyco International Ltd., a diversified manufacturing and service company, is the world's largest manufacturer and servicer of electrical and electronic components and undersea telecommunications systems, the world's largest manufacturer, installer, and provider of fire protection systems and electronic security services, has strong leadership positions in disposable medical products, plastics, and adhesives, and is the largest manufacturer of flow control valves. Tyco International Ltd. (switzerland) has a market cap of $19.41 billion; its shares were traded at around $38.99 with a P/E ratio of 15.2 and P/S ratio of 1.1. The dividend yield of Tyco International Ltd. (switzerland) stocks is 2.1%.
Sold Out: The Progressive Corp. (PGR)
Wallace Weitz sold out his holdings in The Progressive Corp.. His sale prices were between $18.62 and $21.42, with an estimated average price of $20.02.
Progressive Corp. is an auto insurance company and a writer of auto insurance through independent agents. The Progressive Corp. has a market cap of $14.39 billion; its shares were traded at around $21.69 with a P/E ratio of 13.7 and P/S ratio of 1. The dividend yield of The Progressive Corp. stocks is 0.7%.
Sold Out: Liberty Global Inc. (LBTYA)
Wallace Weitz sold out his holdings in Liberty Global Inc.. His sale prices were between $26.04 and $31.05, with an estimated average price of $28.68.
Liberty Global owns interests primarily in broadband distribution and content companies operating outside the continental U. Liberty Global Inc. has a market cap of $9.41 billion; its shares were traded at around $38.6 with and P/S ratio of 0.9. Liberty Global Inc. had an annual average earning growth of 52.3% over the past 5 years.
Sold Out: Hsn, Inc. (HSNI)
Wallace Weitz sold out his holdings in Hsn, Inc.. His sale prices were between $25.62 and $30.6, with an estimated average price of $28.25.
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. Hsn, Inc. has a market cap of $1.58 billion; its shares were traded at around $27.44 with a P/E ratio of 16.7 and P/S ratio of 0.6.
Sold Out: Itt Educational Services Inc. (ESI)
Wallace Weitz sold out his holdings in Itt Educational Services Inc.. His sale prices were between $51.46 and $90.32, with an estimated average price of $68.77.
ITT EDUCATIONAL SERVICES, INC. is a proprietary provider of technical postsecondary degree programs in the United States based on student enrollment. Itt Educational Services Inc. has a market cap of $2.02 billion; its shares were traded at around $60.28 with a P/E ratio of 5.7 and P/S ratio of 1.6. Itt Educational Services Inc. had an annual average earning growth of 33.9% over the past 10 years. GuruFocus rated Itt Educational Services Inc. the business predictability rank of 5-star.
Sold Out: Unitedhealth Group Inc. (UNH)
Wallace Weitz sold out his holdings in Unitedhealth Group Inc.. His sale prices were between $28.3 and $35.73, with an estimated average price of $32.34.
UnitedHealth Group Inc. offers health care coverage and related services to help people achieve improved health and well-being through all stages of life. Unitedhealth Group Inc. has a market cap of $41.78 billion; its shares were traded at around $37.16 with a P/E ratio of 9.3 and P/S ratio of 0.5. The dividend yield of Unitedhealth Group Inc. stocks is 1.4%. Unitedhealth Group Inc. had an annual average earning growth of 22.1% over the past 10 years. GuruFocus rated Unitedhealth Group Inc. the business predictability rank of 3.5-star.
Sold Out: Potash Corp. Of Saskatchewan Inc. (POT)
Wallace Weitz sold out his holdings in Potash Corp. Of Saskatchewan Inc.. His sale prices were between $84.6 and $150.47, with an estimated average price of $124.33.
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 $41.95 billion; its shares were traded at around $141.43 with a P/E ratio of 27.5 and P/S ratio of 10.5. The dividend yield of Potash Corp. Of Saskatchewan Inc. stocks is 0.3%. Potash Corp. Of Saskatchewan Inc. had an annual average earning growth of 31.7% over the past 10 years. GuruFocus rated Potash Corp. Of Saskatchewan Inc. the business predictability rank of 2.5-star.
Sold Out: Wellpoint Inc. (WLP)
Wallace Weitz sold out his holdings in Wellpoint Inc.. His sale prices were between $47.43 and $56.69, with an estimated average price of $52.57.
WellPoint, Inc. is the largest publicly traded commercial health benefits company in terms of membership in the United States. Wellpoint Inc. has a market cap of $23.54 billion; its shares were traded at around $58.9 with a P/E ratio of 9.1 and P/S ratio of 0.4. Wellpoint Inc. had an annual average earning growth of 21.6% over the past 10 years.
Weitz Funds had a good year. He wrote in his third quarter shareholder letter: The small/mid-cap Hickory Fund showed the best year-to-date results (+23.3%), followed by the “go anywhere” funds, Partners III (+19.3%) and Partners Value (+15.2%). The large-cap Value Fund returned “only” +9.3% but still exceeded the S&P 500 return (+3.9%) by a wide margin.
He said that he is finding opportunities. He wrote, as we wrote last quarter, we are finding more and more bargains among the “lagging” large-cap universe, so we suspect that Value will eventually have its turn to lead the others.
Wallace Weitz buys Baxter International Inc., Knology Inc., Prestige Brands Holdings Inc., Iconix Brand Group Inc., Td Ameritrade Holding Corp., Kennedywilson Holdings Inc., sells Itt Educational Services Inc., Hewitt Associates Inc., Hsn, Inc., Liberty Global Inc., The Progressive Corp., Potash Corp. Of Saskatchewan Inc., Unitedhealth Group Inc., Wellpoint Inc. during the 3-months ended 09/30/2010, according to the most recent filings of his investment company, Weitz Wallace R & Co. Wallace Weitz owns 68 stocks with a total value of $2 billion. These are the details of the buys and sells.
- New Purchases: AMTD, BAX, ICON, KNOL, KW, PBH,
- Added Positions: ACN, AON, APOL, ASCMA, CMP, DELL, DVN, EHTH, EOG, FLIR, LCAPA, LH, LMT, LOPE, LYV, MLM, OCR, OMC, SD, TREE, TXN,
- Reduced Positions: AZO, ENR, LSTZA, TDS.S, TYC, WSH, WTW,
- Sold Out: ESI, HSNI, LBTYA, PGR, POT, UNH, WLP,
This is the sector weightings of his portfolio:
| Consumer Services | 29.9% |
| Technology | 16.1% |
| Industrials | 15.2% |
| Financials | 11.8% |
| Health Care | 9.6% |
| Oil & Gas | 6% |
| Consumer Goods | 3.6% |
| Telecommunications | 1.3% |
| Basic Materials | 1% |
These are the top 5 holdings of Wallace Weitz
- Liberty Media Corp. Interactive Common S (LINTA) - 8,724,812 shares, 5.93% of the total portfolio. Shares added by 0.84%
- Omnicare Inc. (OCR) - 4,406,973 shares, 5.22% of the total portfolio. Shares added by 21.55%
- Redwood Trust Inc. (RWT) - 6,898,240 shares, 4.95% of the total portfolio. Shares added by 0.91%
- Berkshire Hathaway Inc. (BRK.B) - 1,110,715 shares, 4.55% of the total portfolio. Shares reduced by 9.1%
- Liberty Global Inc. Series C (LBTYK) - 2,935,300 shares, 4.45% of the total portfolio. Shares reduced by 19.12%
Added: Texas Instruments Inc. (TXN)
Wallace Weitz added to his holdings in Texas Instruments Inc. by 85.88%. His purchase prices were between $23.02 and $27.06, with an estimated average price of $24.83. The impact to his portfolio due to this purchase was 1.73%. His holdings were 2,788,800 shares as of 09/30/2010.
Texas Instruments, Inc. is a global semiconductor company and one of the world's designers and suppliers of digital signal processors and analog integrated circuits, the engines driving the digitization of electronics. Texas Instruments Inc. has a market cap of $37.46 billion; its shares were traded at around $31.34 with a P/E ratio of 13.2 and P/S ratio of 3.6. The dividend yield of Texas Instruments Inc. stocks is 1.7%. Texas Instruments Inc. had an annual average earning growth of 4.2% over the past 5 years.
Added: Grand Canyon Education Inc. (LOPE)
Wallace Weitz added to his holdings in Grand Canyon Education Inc. by 122.24%. His purchase prices were between $15.67 and $24.41, with an estimated average price of $19.95. The impact to his portfolio due to this purchase was 1.28%. His holdings were 2,143,429 shares as of 09/30/2010.
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. Grand Canyon Education Inc. has a market cap of $837.2 million; its shares were traded at around $18.29 with a P/E ratio of 19.7 and P/S ratio of 3.2.
Added: Aon (AON)
Wallace Weitz added to his holdings in Aon by 46.91%. His purchase prices were between $35.62 and $39.62, with an estimated average price of $37.49. The impact to his portfolio due to this purchase was 1.19%. His holdings were 1,918,650 shares as of 09/30/2010.
Aon Corporation is a holding company whose operating subsidiaries carry onbusiness in three distinct segments: insurance brokerage and other services; consulting; and insurance underwriting. Aon has a market cap of $11.26 billion; its shares were traded at around $41.61 with a P/E ratio of 13.1 and P/S ratio of 1.5. The dividend yield of Aon stocks is 1.5%. Aon had an annual average earning growth of 2.7% over the past 10 years.
Added: Sandridge Energy Inc (SD)
Wallace Weitz added to his holdings in Sandridge Energy Inc by 72.34%. His purchase prices were between $4 and $6.58, with an estimated average price of $5.18. The impact to his portfolio due to this purchase was 0.95%. His holdings were 8,035,700 shares as of 09/30/2010.
SandRidge Energy, Inc. is an oil and natural gas company headquartered in Oklahoma City with its principal focus on exploration and production. Sandridge Energy Inc has a market cap of $2.12 billion; its shares were traded at around $5.23 with a P/E ratio of 16.8 and P/S ratio of 3.5.
Added: Omnicare Inc. (OCR)
Wallace Weitz added to his holdings in Omnicare Inc. by 21.55%. His purchase prices were between $19.2 and $26.45, with an estimated average price of $22.38. The impact to his portfolio due to this purchase was 0.93%. His holdings were 4,406,973 shares as of 09/30/2010.
Omnicare, Inc., a Fortune five hundred company based in Covington, Kentucky, is a provider of pharmaceutical care for the elderly. Omnicare Inc. has a market cap of $3.04 billion; its shares were traded at around $25.74 with a P/E ratio of 11.2 and P/S ratio of 0.5. The dividend yield of Omnicare Inc. stocks is 0.5%. Omnicare Inc. had an annual average earning growth of 7.8% over the past 10 years.
Added: Live Nation Inc. (LYV)
Wallace Weitz added to his holdings in Live Nation Inc. by 88.93%. His purchase prices were between $8.43 and $11.43, with an estimated average price of $9.52. The impact to his portfolio due to this purchase was 0.74%. His holdings were 3,199,295 shares as of 09/30/2010.
Live Nation Entertainment, Inc. is the world's premier live entertainment company, consisting of Live Nation, Ticketmaster and Front Line Management Group. Live Nation Inc. has a market cap of $1.75 billion; its shares were traded at around $10.07 with and P/S ratio of 0.4. Live Nation Inc. had an annual average earning growth of 7.5% over the past 5 years.
Added: Omnicom Group Inc. (OMC)
Wallace Weitz added to his holdings in Omnicom Group Inc. by 90.66%. His purchase prices were between $33.77 and $39.79, with an estimated average price of $37.05. The impact to his portfolio due to this purchase was 0.57%. His holdings were 605,336 shares as of 09/30/2010.
Omnicom Group Inc. provides corporate communications services to clients worldwide on a global, pan-regional, national and local basis. Omnicom Group Inc. has a market cap of $14.01 billion; its shares were traded at around $46.49 with a P/E ratio of 17.8 and P/S ratio of 1.2. The dividend yield of Omnicom Group Inc. stocks is 1.7%. Omnicom Group Inc. had an annual average earning growth of 9% over the past 10 years. GuruFocus rated Omnicom Group Inc. the business predictability rank of 5-star.
Added: Ascent Media Corporation - Series A Common Stock (ASCMA)
Wallace Weitz added to his holdings in Ascent Media Corporation - Series A Common Stock by 395%. His purchase prices were between $25.27 and $28.85, with an estimated average price of $27.14. The impact to his portfolio due to this purchase was 0.53%. His holdings were 495,000 shares as of 09/30/2010.
ASCENT MEDIA GROUP provides creative and network services to the media and entertainment industries in the United States, the United Kingdom and Singapore. Ascent Media Corporation - Series A Common Stock has a market cap of $388.8 million; its shares were traded at around $28.68 with and P/S ratio of 0.9.
Added: Dell Inc. (DELL)
Wallace Weitz added to his holdings in Dell Inc. by 13.32%. His purchase prices were between $11.585 and $13.74, with an estimated average price of $12.62. The impact to his portfolio due to this purchase was 0.5%. His holdings were 6,564,825 shares as of 09/30/2010.
Dell Inc. is a premier provider of products and services required for customers worldwide to build their information-technology and Internet infrastructures. Dell Inc. has a market cap of $28.18 billion; its shares were traded at around $14.49 with a P/E ratio of 12.8 and P/S ratio of 0.5. Dell Inc. had an annual average earning growth of 4.1% over the past 10 years.
Added: Laboratory Corp. Of America Holdings (LH)
Wallace Weitz added to his holdings in Laboratory Corp. Of America Holdings by 33.14%. His purchase prices were between $72.24 and $78.15, with an estimated average price of $75.2. The impact to his portfolio due to this purchase was 0.47%. His holdings were 482,500 shares as of 09/30/2010.
Laboratory Corporation of America Holdings, is one of the largest independent clinical laboratory company's in the United States. Laboratory Corp. Of America Holdings has a market cap of $8.53 billion; its shares were traded at around $82.93 with a P/E ratio of 15.4 and P/S ratio of 1.8. Laboratory Corp. Of America Holdings had an annual average earning growth of 17.6% over the past 10 years.
Added: Apollo Group Inc. (APOL)
Wallace Weitz added to his holdings in Apollo Group Inc. by 20.35%. His purchase prices were between $38.94 and $51.66, with an estimated average price of $45.25. The impact to his portfolio due to this purchase was 0.38%. His holdings were 874,250 shares as of 09/30/2010.
Apollo Group, Inc. has been providing higher education to working adults for over 25 years. Apollo Group Inc. has a market cap of $5.4 billion; its shares were traded at around $36.63 with a P/E ratio of 6.9 and P/S ratio of 1.1. Apollo Group Inc. had an annual average earning growth of 26.4% over the past 10 years. GuruFocus rated Apollo Group Inc. the business predictability rank of 4-star.
Added: Martin Marietta Materials Inc. (MLM)
Wallace Weitz added to his holdings in Martin Marietta Materials Inc. by 14.45%. His purchase prices were between $72.61 and $88.4, with an estimated average price of $80.1. The impact to his portfolio due to this purchase was 0.33%. His holdings were 683,225 shares as of 09/30/2010.
Martin Marietta Materials producer of aggregates for the construction industry, including highways, infrastructure, commercial and residential. Martin Marietta Materials Inc. has a market cap of $4.03 billion; its shares were traded at around $88.59 with a P/E ratio of 52.2 and P/S ratio of 2.4. The dividend yield of Martin Marietta Materials Inc. stocks is 1.8%. Martin Marietta Materials Inc. had an annual average earning growth of 7.7% over the past 10 years.
Added: Lockheed Martin Corp. (LMT)
Wallace Weitz added to his holdings in Lockheed Martin Corp. by 20.97%. His purchase prices were between $68.48 and $76.15, with an estimated average price of $72.81. The impact to his portfolio due to this purchase was 0.18%. His holdings were 288,480 shares as of 09/30/2010.
Lockheed Martin Corp. is a global enterprise principally engaged in the research, design, development, manufacture and integration of advanced-technology systems, products and services. Lockheed Martin Corp. has a market cap of $26.07 billion; its shares were traded at around $71.92 with a P/E ratio of 10.1 and P/S ratio of 0.6. The dividend yield of Lockheed Martin Corp. stocks is 3.4%. Lockheed Martin Corp. had an annual average earning growth of 17% over the past 10 years. GuruFocus rated Lockheed Martin Corp. the business predictability rank of 2.5-star.
Added: Accenture Ltd (ACN)
Wallace Weitz added to his holdings in Accenture Ltd by 3.45%. His purchase prices were between $36.6 and $42.43, with an estimated average price of $39.48. The impact to his portfolio due to this purchase was 0.12%. His holdings were 1,769,890 shares as of 09/30/2010.
Accenture Limited is a management consulting, technology services and outsourcing organization. Accenture Ltd has a market cap of $28.84 billion; its shares were traded at around $45.5 with a P/E ratio of 17.1 and P/S ratio of 1.2. The dividend yield of Accenture Ltd stocks is 2%. Accenture Ltd had an annual average earning growth of 16.2% over the past 10 years. GuruFocus rated Accenture Ltd the business predictability rank of 3-star.
Added: Liberty Media Corp. Capital Common Serie (LCAPA)
Wallace Weitz added to his holdings in Liberty Media Corp. Capital Common Serie by 10.28%. His purchase prices were between $41.21 and $52.88, with an estimated average price of $46.89. The impact to his portfolio due to this purchase was 0.12%. His holdings were 501,108 shares as of 09/30/2010.
Liberty Media Corporation owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Liberty Media Corp. Capital Common Serie has a market cap of $4.73 billion; its shares were traded at around $59.1 with a P/E ratio of 74.9 and P/S ratio of 7.3.
Added: Compass Minerals International Inc. (CMP)
Wallace Weitz added to his holdings in Compass Minerals International Inc. by 20.54%. His purchase prices were between $70.68 and $79.49, with an estimated average price of $74.04. The impact to his portfolio due to this purchase was 0.06%. His holdings were 95,640 shares as of 09/30/2010.
Compass Minerals is the largest producer of rock, or highway deicing, salt in North America and the United Kingdom and operates the largest highway deicing salt mines in these regions. Compass Minerals International Inc. has a market cap of $2.65 billion; its shares were traded at around $81 with a P/E ratio of 17.7 and P/S ratio of 2.8. The dividend yield of Compass Minerals International Inc. stocks is 1.9%. Compass Minerals International Inc. had an annual average earning growth of 16.9% over the past 5 years.
Added: Flir Systems Inc. (FLIR)
Wallace Weitz added to his holdings in Flir Systems Inc. by 71.43%. His purchase prices were between $24.38 and $30.66, with an estimated average price of $28.08. The impact to his portfolio due to this purchase was 0.03%. His holdings were 60,000 shares as of 09/30/2010.
FLIR Systems, Inc. designs, manufactures and markets thermal imaging and broadcast camera systems for applications in the commercial and government markets. Flir Systems Inc. has a market cap of $4.56 billion; its shares were traded at around $28.82 with a P/E ratio of 19.1 and P/S ratio of 4. Flir Systems Inc. had an annual average earning growth of 25.6% over the past 5 years.
Added: Ehealth Inc. (EHTH)
Wallace Weitz added to his holdings in Ehealth Inc. by 42.86%. His purchase prices were between $9.54 and $12.75, with an estimated average price of $11.04. The impact to his portfolio due to this purchase was 0.02%. His holdings were 100,000 shares as of 09/30/2010.
eHealth, Inc. is the parent company of eHealthInsurance, the online source of health insurance for individuals, families and small businesses. Ehealth Inc. has a market cap of $340.8 million; its shares were traded at around $14.47 with a P/E ratio of 24.5 and P/S ratio of 2.6.
Added: Devon Energy Corp. (DVN)
Wallace Weitz added to his holdings in Devon Energy Corp. by 142.86%. His purchase prices were between $59.79 and $65.68, with an estimated average price of $62.91. The impact to his portfolio due to this purchase was 0.02%. His holdings were 8,500 shares as of 09/30/2010.
Devon Energy Corporation is an independent energy company engaged primarily in oil and gas exploration, development and production, and in the acquisition of producing properties. Devon Energy Corp. has a market cap of $31.28 billion; its shares were traded at around $71.9 with a P/E ratio of 11.2 and P/S ratio of 4. The dividend yield of Devon Energy Corp. stocks is 0.9%.
Added: Eog Resources Inc. (EOG)
Wallace Weitz added to his holdings in Eog Resources Inc. by 55.56%. His purchase prices were between $86.62 and $106.81, with an estimated average price of $96.02. The impact to his portfolio due to this purchase was 0.01%. His holdings were 7,000 shares as of 09/30/2010.
EOG Resources, Inc. is engaged, either directly or through a marketing subsidiary with regard to domestic operations or through various subsidiaries with regard to international operations, in the exploration for, and the development, production and marketing of, natural gas and crude oil primarily in major producing basins in the United States, as well as in Canada and Trinidad. Eog Resources Inc. has a market cap of $23.8 billion; its shares were traded at around $93.88 with a P/E ratio of 54 and P/S ratio of 4.9. The dividend yield of Eog Resources Inc. stocks is 0.7%. Eog Resources Inc. had an annual average earning growth of 17.4% over the past 10 years. GuruFocus rated Eog Resources Inc. the business predictability rank of 4.5-star.
Added: Tree.com, Inc. (TREE)
Wallace Weitz added to his holdings in Tree.com, Inc. by 25%. His purchase prices were between $6.02 and $7.44, with an estimated average price of $7.01. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 50,000 shares as of 09/30/2010.
TREE.COM, INC. is the parent of several well-known brands and businesses in the financial services and real estate industries including LendingTree, LendingTree Loans(sm), GetSmart. Tree.com, Inc. has a market cap of $76.1 million; its shares were traded at around $7.09 with and P/S ratio of 0.4.
New Purchase: Baxter International Inc. (BAX, Financial)
Wallace Weitz initiated holdings in Baxter International Inc.. His purchase prices were between $41.65 and $48.02, with an estimated average price of $44.46. The impact to his portfolio due to this purchase was 0.82%. His holdings were 345,100 shares as of 09/30/2010.
Baxter engages in the worldwide development, manufacture and distribution of a diversified line of products, systems and services used primarily in the health-care field. Baxter International Inc. has a market cap of $30.33 billion; its shares were traded at around $51.9 with a P/E ratio of 13.4 and P/S ratio of 2.4. The dividend yield of Baxter International Inc. stocks is 2.3%. Baxter International Inc. had an annual average earning growth of 7.1% over the past 10 years. GuruFocus rated Baxter International Inc. the business predictability rank of 3.5-star.
New Purchase: Knology Inc. (KNOL, Financial)
Wallace Weitz initiated holdings in Knology Inc.. His purchase prices were between $10.66 and $13.39, with an estimated average price of $12.18. The impact to his portfolio due to this purchase was 0.13%. His holdings were 196,001 shares as of 09/30/2010.
Knology is a facilities-based provider of bundled broadband communications services to residential and business customers in the southeastern United States. Knology Inc. has a market cap of $545.7 million; its shares were traded at around $14.74 with a P/E ratio of 35 and P/S ratio of 1.2. Knology Inc. had an annual average earning growth of 22% over the past 5 years.
New Purchase: Prestige Brands Holdings Inc. (PBH)
Wallace Weitz initiated holdings in Prestige Brands Holdings Inc.. His purchase prices were between $7.21 and $9.93, with an estimated average price of $7.91. The impact to his portfolio due to this purchase was 0.12%. His holdings were 240,000 shares as of 09/30/2010.
Prestige Brands Holdings is a marketer and distributor of brand name over- the-counter drug, personal care and household cleaning products sold throughout the United States and Canada. Prestige Brands Holdings Inc. has a market cap of $553.5 million; its shares were traded at around $11.06 with a P/E ratio of 13.9 and P/S ratio of 1.8.
New Purchase: Iconix Brand Group Inc. (ICON, Financial)
Wallace Weitz initiated holdings in Iconix Brand Group Inc.. His purchase prices were between $13.32 and $17.75, with an estimated average price of $16.06. The impact to his portfolio due to this purchase was 0.11%. His holdings were 130,000 shares as of 09/30/2010.
Iconix Brand Group, Inc. is in the business of licensing the CANDIE'S, BONGO, BADGLEY MISCHKA and JOE BOXER trademarks on a variety of footwear, apparel and fashion products. Iconix Brand Group Inc. has a market cap of $1.29 billion; its shares were traded at around $17.85 with a P/E ratio of 12.5 and P/S ratio of 5.5.
New Purchase: Td Ameritrade Holding Corp. (AMTD, Financial)
Wallace Weitz initiated holdings in Td Ameritrade Holding Corp.. His purchase prices were between $14.62 and $16.86, with an estimated average price of $15.63. The impact to his portfolio due to this purchase was 0.06%. His holdings were 80,000 shares as of 09/30/2010.
TD Ameritrade Holding Corporation has a servicing self-directed investors through its brokerage subsidiaries. Td Ameritrade Holding Corp. has a market cap of $10.05 billion; its shares were traded at around $17.45 with a P/E ratio of 18 and P/S ratio of 4. Td Ameritrade Holding Corp. had an annual average earning growth of 12.2% over the past 5 years.
New Purchase: Kennedywilson Holdings Inc. (KW, Financial)
Wallace Weitz initiated holdings in Kennedywilson Holdings Inc.. His purchase prices were between $9.37 and $10.83, with an estimated average price of $10.09. The impact to his portfolio due to this purchase was 0.01%. His holdings were 20,000 shares as of 09/30/2010.
Kennedy Wilson is a vertically-integrated real estate investment and services company. Kennedywilson Holdings Inc. has a market cap of $434 million; its shares were traded at around $10.51 with and P/S ratio of 5.1.
Reduced: Energizer Holdings Inc. (ENR)
Wallace Weitz reduced to his holdings in Energizer Holdings Inc. by 30.83%. His sale prices were between $49.76 and $71.26, with an estimated average price of $62.15. The impact to his portfolio due to this sale was -0.19%. Wallace Weitz still held 183,300 shares as of 09/30/2010.
Energizer Holdings is the world's largest manufacturer of primary batteries and flashlights and a global leader in the dynamic business of providing portable power. Energizer Holdings Inc. has a market cap of $4.82 billion; its shares were traded at around $68.69 with a P/E ratio of 13.2 and P/S ratio of 1.2. Energizer Holdings Inc. had an annual average earning growth of 18.5% over the past 10 years. GuruFocus rated Energizer Holdings Inc. the business predictability rank of 4.5-star.
Reduced: Weight Watchers International Inc. (WTW)
Wallace Weitz reduced to his holdings in Weight Watchers International Inc. by 44.56%. His sale prices were between $24.84 and $31.92, with an estimated average price of $28.59. The impact to his portfolio due to this sale was -0.38%. Wallace Weitz still held 555,972 shares as of 09/30/2010.
Weight Watchers International, Inc. is the largest provider of weight control programs in the world. Weight Watchers International Inc. has a market cap of $2.48 billion; its shares were traded at around $32.86 with a P/E ratio of 12.9 and P/S ratio of 1.8. The dividend yield of Weight Watchers International Inc. stocks is 2.1%. Weight Watchers International Inc. had an annual average earning growth of 12.7% over the past 10 years.
Reduced: Tel And Data Sys (TDS.S)
Wallace Weitz reduced to his holdings in Tel And Data Sys by 34.15%. His sale prices were between $25.28 and $30.46, with an estimated average price of $27.7. The impact to his portfolio due to this sale was -0.43%. Wallace Weitz still held 885,837 shares as of 09/30/2010.
Telephone & Data Systems is a diversified telecommunications corporation. Tel And Data Sys has a market cap of $1.43 billion; its shares were traded at around $30.78 with and P/S ratio of 0.3. The dividend yield of Tel And Data Sys stocks is 1.8%.
Reduced: Lstza (LSTZA)
Wallace Weitz reduced to his holdings in Lstza by 24.03%. His sale prices were between $51.39 and $65.12, with an estimated average price of $57.99. The impact to his portfolio due to this sale was -0.44%. Wallace Weitz still held 576,050 shares as of 09/30/2010.
Liberty Starz Group is a significant operating subsidiary and also a principal reportable segment of Liberty Media Corporation which focuses primarily on video programming, communications businesses, and the direct-to-home satellite distribution business. Lstza has a market cap of $3.13 billion; its shares were traded at around $64.02 with a P/E ratio of 18.6 and P/S ratio of 2.6.
Reduced: Willis Group Holdings Ltd. (WSH)
Wallace Weitz reduced to his holdings in Willis Group Holdings Ltd. by 52.78%. His sale prices were between $29.04 and $32.1, with an estimated average price of $30.79. The impact to his portfolio due to this sale was -0.45%. Wallace Weitz still held 560,370 shares as of 09/30/2010.
Willis Group is a global insurance broker providing specialized risk management, advisory, and other services to a broad range of corporate andinstitutional clients, with particular expertise in the construction, aerospace, marine and energy industries. Willis Group Holdings Ltd. has a market cap of $5.6 billion; its shares were traded at around $32.87 with a P/E ratio of 12.4 and P/S ratio of 1.7. The dividend yield of Willis Group Holdings Ltd. stocks is 3.2%. Willis Group Holdings Ltd. had an annual average earning growth of 8.3% over the past 10 years.
Reduced: Autozone Inc. (AZO)
Wallace Weitz reduced to his holdings in Autozone Inc. by 67.29%. His sale prices were between $194.66 and $230.56, with an estimated average price of $211.42. The impact to his portfolio due to this sale was -0.46%. Wallace Weitz still held 60,000 shares as of 09/30/2010.
Autozone is the nation's specialty retailer of automotive parts and accessories, primarily focusing on do-it-yourself customers. Autozone Inc. has a market cap of $11.11 billion; its shares were traded at around $248.95 with a P/E ratio of 16.5 and P/S ratio of 1.5. Autozone Inc. had an annual average earning growth of 17.9% over the past 10 years. GuruFocus rated Autozone Inc. the business predictability rank of 4.5-star.
Reduced: Tyco International Ltd. (switzerland) (TYC)
Wallace Weitz reduced to his holdings in Tyco International Ltd. (switzerland) by 23.29%. His sale prices were between $34.43 and $39.79, with an estimated average price of $37.75. The impact to his portfolio due to this sale was -0.52%. Wallace Weitz still held 1,230,200 shares as of 09/30/2010.
Tyco International Ltd., a diversified manufacturing and service company, is the world's largest manufacturer and servicer of electrical and electronic components and undersea telecommunications systems, the world's largest manufacturer, installer, and provider of fire protection systems and electronic security services, has strong leadership positions in disposable medical products, plastics, and adhesives, and is the largest manufacturer of flow control valves. Tyco International Ltd. (switzerland) has a market cap of $19.41 billion; its shares were traded at around $38.99 with a P/E ratio of 15.2 and P/S ratio of 1.1. The dividend yield of Tyco International Ltd. (switzerland) stocks is 2.1%.
Sold Out: The Progressive Corp. (PGR)
Wallace Weitz sold out his holdings in The Progressive Corp.. His sale prices were between $18.62 and $21.42, with an estimated average price of $20.02.
Progressive Corp. is an auto insurance company and a writer of auto insurance through independent agents. The Progressive Corp. has a market cap of $14.39 billion; its shares were traded at around $21.69 with a P/E ratio of 13.7 and P/S ratio of 1. The dividend yield of The Progressive Corp. stocks is 0.7%.
Sold Out: Liberty Global Inc. (LBTYA)
Wallace Weitz sold out his holdings in Liberty Global Inc.. His sale prices were between $26.04 and $31.05, with an estimated average price of $28.68.
Liberty Global owns interests primarily in broadband distribution and content companies operating outside the continental U. Liberty Global Inc. has a market cap of $9.41 billion; its shares were traded at around $38.6 with and P/S ratio of 0.9. Liberty Global Inc. had an annual average earning growth of 52.3% over the past 5 years.
Sold Out: Hsn, Inc. (HSNI)
Wallace Weitz sold out his holdings in Hsn, Inc.. His sale prices were between $25.62 and $30.6, with an estimated average price of $28.25.
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. Hsn, Inc. has a market cap of $1.58 billion; its shares were traded at around $27.44 with a P/E ratio of 16.7 and P/S ratio of 0.6.
Sold Out: Itt Educational Services Inc. (ESI)
Wallace Weitz sold out his holdings in Itt Educational Services Inc.. His sale prices were between $51.46 and $90.32, with an estimated average price of $68.77.
ITT EDUCATIONAL SERVICES, INC. is a proprietary provider of technical postsecondary degree programs in the United States based on student enrollment. Itt Educational Services Inc. has a market cap of $2.02 billion; its shares were traded at around $60.28 with a P/E ratio of 5.7 and P/S ratio of 1.6. Itt Educational Services Inc. had an annual average earning growth of 33.9% over the past 10 years. GuruFocus rated Itt Educational Services Inc. the business predictability rank of 5-star.
Sold Out: Unitedhealth Group Inc. (UNH)
Wallace Weitz sold out his holdings in Unitedhealth Group Inc.. His sale prices were between $28.3 and $35.73, with an estimated average price of $32.34.
UnitedHealth Group Inc. offers health care coverage and related services to help people achieve improved health and well-being through all stages of life. Unitedhealth Group Inc. has a market cap of $41.78 billion; its shares were traded at around $37.16 with a P/E ratio of 9.3 and P/S ratio of 0.5. The dividend yield of Unitedhealth Group Inc. stocks is 1.4%. Unitedhealth Group Inc. had an annual average earning growth of 22.1% over the past 10 years. GuruFocus rated Unitedhealth Group Inc. the business predictability rank of 3.5-star.
Sold Out: Potash Corp. Of Saskatchewan Inc. (POT)
Wallace Weitz sold out his holdings in Potash Corp. Of Saskatchewan Inc.. His sale prices were between $84.6 and $150.47, with an estimated average price of $124.33.
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 $41.95 billion; its shares were traded at around $141.43 with a P/E ratio of 27.5 and P/S ratio of 10.5. The dividend yield of Potash Corp. Of Saskatchewan Inc. stocks is 0.3%. Potash Corp. Of Saskatchewan Inc. had an annual average earning growth of 31.7% over the past 10 years. GuruFocus rated Potash Corp. Of Saskatchewan Inc. the business predictability rank of 2.5-star.
Sold Out: Wellpoint Inc. (WLP)
Wallace Weitz sold out his holdings in Wellpoint Inc.. His sale prices were between $47.43 and $56.69, with an estimated average price of $52.57.
WellPoint, Inc. is the largest publicly traded commercial health benefits company in terms of membership in the United States. Wellpoint Inc. has a market cap of $23.54 billion; its shares were traded at around $58.9 with a P/E ratio of 9.1 and P/S ratio of 0.4. Wellpoint Inc. had an annual average earning growth of 21.6% over the past 10 years.
