But most notably we initiated a new position in AutoZone (AZO, Financial), a specialty retailer of auto parts and accessories. AutoZone continues to have success with its traditional do-it-yourself customers, and it is still in the early stages of rolling out its commercial account business that reaches do-it-for-me customers. We believe both efforts have significant growth potential for years to come and are led by a management team that has demonstrated a consistent ability to grow the per-share value of their business. Investors can learn more about our investment thesis in Jon Baker's upcoming Analyst Corner feature.
From Wallace Weitz (Trades, Portfolio)'s Hickory Fund first-quarter 2021 commentary.
