The quarter’s top detractor, Intelligent Systems (INS) (-10%), saw its stock pull back after more than doubling in the first quarter. It remains our top contributor year to date (by a wide margin). Shares may continue to be volatile in the near-term as the company attracts new fans and skeptics alike. Nevertheless, we remain comfortable with the company’s growth trajectory and long-term prospects.
From Wallace Weitz (Trades, Portfolio)'s second-quarter 2019 Partners III Fund commentary.
