Wallace Weitz

Wallace Weitz

Last Update: 08-14-2017

Number of Stocks: 72
Number of New Stocks: 1

Total Value: $2,269 Mil
Q/Q Turnover: 1%

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 (%)
20166.2211.96-5.7
2015-9.251.38-10.6
20147.9113.69-5.8
3-Year Cumulative4 (1.3%/year)29 (8.9%/year)-25 (-7.6%/year)
201330.8732.39-1.5
201217.92161.9
5-Year Cumulative60.5 (9.9%/year)98.2 (14.7%/year)-37.7 (-4.8%/year)
20112.192.110.1
201027.4915.0612.4
200931.326.464.8
2008-38.06-37-1.1
2007-8.545.49-14.0
10-Year Cumulative55.6 (4.5%/year)95.7 (6.9%/year)-40.1 (-2.4%/year)
200622.5315.796.7
2005-2.424.91-7.3
200414.9910.884.1
200325.3828.68-3.3
2002-16.99-22.15.1
15-Year Cumulative122.6 (5.5%/year)164.2 (6.7%/year)-41.6 (-1.2%/year)
2001-0.86-11.8911.0
200021.07-9.130.2
199922.0221.041.0
199829.1328.580.5
199740.6433.367.3
20-Year Cumulative492.1 (9.3%/year)339.2 (7.7%/year)152.9 (1.6%/year)
199619.0422.96-3.9
199538.6637.581.1
1994-8.971.32-10.3
199323.0310.0813.0
199215.147.627.5
25-Year Cumulative1160.2 (10.7%/year)791.8 (9.1%/year)368.4 (1.6%/year)
19912830.47-2.5
1990-6.35-3.1-3.2
198920.2531.69-11.4
198814.9316.61-1.7
19874.255.1-0.8
30-Year Cumulative2076.4 (10.8%/year)1719.7 (10.2%/year)356.7 (0.6%/year)
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...
Learning From the Biggest Mistakes of Institutional Investors 5 investors discuss their biggest investment failures
Every investor makes mistakes. If someone tells you they do not, they are either lying or too inexperienced. Read more...
Weitz Funds Comments on Express Scripts Guru stock highlight
Express Scripts (NASDAQ:ESRX) is the largest independent pharmacy benefits manager (PBM) in the United States, helping health benefit providers improve access to (and the affordability of) prescription drugs. As the U.S. election enters its final stages, pharmaceutical manufacturers have shouldered a significant portion of the public’s frustration with the growing lack of affordability in healthcare. In recent weeks, several drug companies have attempted to shift the conversation by pointing fingers at PBMs and other “middlemen” as contributing to (as opposed to minimizing) rising prescription drug costs. Express Scripts and its peers provide a necessary and valuable service to plan sponsors, constructing custom plan designs that balance customer desires for access, cost and flexibility. Providing the absolute lowest cost for each drug utilized is not often the sponsor’s only (or even primary) goal. Additionally, competitive intensity across the industry is high, with no less than two (and in most cases three) potential PBM models to choose from for managing drug costs. We believe Express Scripts keeps a reasonable amount Read more...
Wally Weitz Comments on Wells Fargo Guru stock highlight
Wells Fargo (NYSE:WFC) is a financial services company. The opening of bogus bank and credit card accounts at Wells Fargo was a serious violation of customer trust. Management’s pressure on employees to “make the numbers” and their apparent slow response to the problem once it surfaced are serious lapses of judgement and culture. Members of top management are paying a financial price, and some may lose their jobs. The bank may face additional penalties, and the reputational damage is significant. From an investment perspective, though, while the stock will probably be under a cloud for some period of time, we do not expect a permanent impairment of the company’s business value. The company’s very low- cost deposit base, ubiquitous distribution, ample capital and diverse business lines give us confidence in the durability of Wells Fargo’s franchise. The stock trades at less than 12x our earnings estimates, and we continue to own the company at quarter end. Read more...
» More Wallace Weitz Articles

Commentaries and Stories

  • Currently 5.00/5

Rating: 5.0/5 (4 votes)

Wally Weitz's 3rd Quarter Value Matters Discussion of stocks and markets Wallace Weitz - Wally Weitz's 3rd Quarter Value Matters
Dear Fellow Investor, More...

  • Currently 4.56/5

Rating: 4.6/5 (9 votes)

Wally Weitz Podcast Interview Transcript The latest GuruFocus interview with Guru Wally Weitz in text Wallace Weitz - Wally Weitz Podcast Interview Transcript
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). More...

  • Currently 5.00/5

Rating: 5.0/5 (2 votes)

Interview With Star Investor Wally Weitz: GuruFocus Podcast Ep. 6 Weitz talks about finding value in an expensive market, his stock picks and more Wallace Weitz - Interview With Star Investor Wally Weitz: GuruFocus Podcast Ep. 6
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. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Wally Weitz Comments on Liberty Ventures Guru stock highlight
Liberty Ventures (NASDAQ:LVNTA) (+18%), one of the more complicated members of John Malone’s Liberty family, is a top ten holding of the Fund and was the quarter’s top contributor. During the quarter, Ventures announced an agreement to acquire General Communications (GCI), the largest cable provider in Alaska. The deal will also create a much more straightforward company, principally cable assets in Alaska and shares of publicly traded Charter Communications and Liberty Broadband. Investors immediately cheered this simplification, particularly the elimination of its tracking stock structure, and bid Ventures’ shares higher. While a positive first step, we are further encouraged by the flexibility the new company will have to ultimately realize the value of its holdings in Charter and Liberty Broadband. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Wally Weitz Comments on Twenty-First Century Fox Guru stock highlight
In addition to exiting Interval Leisure, we also closed our position in Twenty-First Century Fox (NASDAQ:FOXA). Media companies in general have seen heightened volatility as investors wrestle with the proliferation of entertainment options available to today’s consumer. In this rapidly changing environment, we have greater conviction that cable providers, given their ability to offer broadband Internet service, have a stronger hand to play–and the cable industry represents a significant portion of the Fund’s invested assets. Thus, as Fox shares recovered from recent declines, we elected to close the position. The Fund also eliminated a small position in National CineMedia. Valuation also drove trims of Liberty Expedia Holdings and Redwood Trust. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Wallace Weitz's 7 Largest Sales of the 2nd Quarter Guru exits ILG, reduces several other positions Wallace Weitz - Wallace Weitz's 7 Largest Sales Of The 2nd Quarter
Managing a portfolio of 72 stocks, Wallace Weitz (Trades, Portfolio) sold the following stocks during the second quarter: More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Wally Weitz's Partners III Opportunity Fund 2nd Quarter Commentary Discussion of holdings and outlook Wallace Weitz - Wally Weitz's Partners III Opportunity Fund 2nd Quarter Commentary
The Partners III Opportunity Fund’s Institutional Class returned +0.59% in the second calendar quarter, compared to +3.09% for the S&P 500 and +3.02% for the Russell 3000. For the calendar year to date, the Partners III Opportunity Fund’s Institutional Class returned +5.86%, compared to +9.34% for the S&P 500 and +8.93% for the Russell 3000. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Wally Weitz to Join GuruFocus for Podcast Ask a question for the 'Other Oracle of Omaha' Wallace Weitz - Wally Weitz To Join GuruFocus For Podcast
As a renowned investor and resident of Warren Buffett (Trades, Portfolio)’s hometown, Weitz is often dubbed the "Other Oracle of Omaha.” More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Strong Management, Moats and Earnings Power Attract Wallace Weitz At 12, Weitz bought shares for the first time. He now runs an investment firm with more than $4 billion worth of assets Wallace Weitz, Warren Buffett, - Strong Management, Moats And Earnings Power Attract Wallace Weitz
More...

GURUS, WALTER WEITZ, WEITZ INVESTMENT MANAGEMENT, BENJAMIN GRAHAM, DAVID DODD, MUTUAL FUNDS, VALUE STOCKS, MANAGEMENT, PRIVATE MARKET VALUE, MOATS, CONSUMER DISCRETIONARY, LARGE BLEND


  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Wally Weitz Comments on Liberty Global Guru stock highlight
The various Liberty entities offer a variety of subscription-based cash flow generators. Liberty Global (NASDAQ:LBTYA) is a large European cable company, which we think is very undervalued at $31 vs. our estimated value of $43. Its Latin American assets will soon be spun off into a separate company, and we expect the Liberty management to use the same consolidation “playbook” to build a valuable Latin American version of Liberty Global. Investors have been disappointed by the recent pace of quarterly progress at both Global and the Latin American subsidiary, LiLAC, but we believe that putting strong, subscription-based businesses in the hands of Liberty management is a great prescription for building business value. Liberty’s ownership in SiriusXM (Liberty SiriusXM Group) dates back to 2009 and the depths of the Great Recession. Sirius was on the brink of bankruptcy and Liberty lent them about $400 million. The loan had a very high yield (and was repaid in under a year) but also included a “kicker” More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Wally Weitz Comments on Berkshire Hathaway and Bank of America Guru stock highlight
Most of our assets are invested in companies we have owned for many years, but the companies themselves have not been standing still. Berkshire Hathaway (NYSE:BRK.A) has been in our clients’ accounts continuously since 1976, but today’s Berkshire is very different from that of 40, 30, 20 or even 10 years ago. Recent headlines trumpet Berkshire’s $12 billion profit on its Bank of America (NYSE:BAC) investment. In fact, that investment was made in 2011 when Buffett lent BAC a badly needed $5 billion. Berkshire received a convertible preferred stock with a 6% yield ($300 million per year) convertible into BAC shares worth over $17 billion today. Berkshire’s internal rate of return on this investment is about 18% per year.Berkshire currently holds about $100 billion in cash available for future deals. Investments like BAC (and similar lifelines thrown to Goldman Sachs and General Electric (NYSE:GE More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Wally Weitz Comments on DXC Technology Guru stock highlight
During this extended period of high valuations, the turnover in our stock funds has been low. We have added a few new stocks to our portfolios, but they tend to fall into the category of intermediate-term “trades” (as opposed to our preferred long-term “investments”). For example, DXC Technologies (NYSE:DXC) is the successor to Computer Sciences Corporation (CSC), an undermanaged and somewhat troubled IT consulting company that brought in new management in 2012. The new CEO, Mike Lawrie, has considerable turnaround experience and by 2016 had CSC back on track. Earlier this year, CSC acquired Hewlett Packard’s Enterprise Services business (originally Ross Perot’s EDS). The plan is to use the same playbook Lawrie used with CSC to make the combined company more profitable. If they are reasonably successful over the next three to four years, we believe that DXC can earn $9-10 per share and sell at a modest 12-13 times earnings. This is not “home run” material, but it would represent a nice increase over today’s $76 per share. More importantly, achieving More...

  • Currently 4.33/5

Rating: 4.3/5 (3 votes)

Wally Weitz's June 2017 Value Matters The firm's game plan Wallace Weitz - Wally Weitz's June 2017 Value Matters
Dear Fellow Investor, More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Wallace Weitz Sells Avon Products, Berkshire Hathaway, Fossil Guru's largest 1st-quarter sales Wallace Weitz,Chase Coleman,John Griffin,Alan Four - Wallace Weitz Sells Avon Products, Berkshire Hathaway, Fossil
Wallace Weitz (Trades, Portfolio) manages a portfolio composed of 81 stocks with a total value of $2.383 billion. During the first quarter the guru sold shares in the following stocks. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Weitz Funds Comments on United Parcel Service Guru stock highlight
United Parcel Service (NYSE:UPS) is a package delivery company and a provider of supply chain management solutions. Over the past several years, the growth of e-commerce has created challenges for UPS during its peak holiday shipping season. While the market can not quite decide whether the onslaught of less profitable residential delivery volume is beneficial, UPS has announced plans to significantly accelerate capital spending in anticipation of even more residential delivery volume. Investors’ lack of faith in management’s intended path led to this most recent sell off. We believe the company’s efforts toward a more streamlined holiday shipping experience will bear fruit in time, and we expect the company’s stock price will eventually reflect this stepped-up commitment to its customers. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Weitz Funds Comments on Compass Minerals Guru stock highlight
Compass Minerals (NYSE:CMP) produces and sells salt, specialty plant nutrition and chemical products around the world. Despite a strong fourth quarter, Compass stock was a weak performer due to concern around the lack of snow in their geographic footprint. Though the company guided to 12% volume growth in salt in 2017 as municipalities restocked, prices still remain under pressure, as a lot of volume was contracted in the summer months when inventories were high. The news was similarly mixed at their sulfate of potash (SOP) operation. While prices seem to be stabilizing and volume growth was exceptional, cost improvements have been slow to materialize. As a result, much of the inventory they are selling now was produced under their higher legacy cost structure. We believe the salt business will recover as soon as we have a “normal” winter and recent capital investments lower their costs even more. In addition, SOP prices are stabilizing and once Compass adjusts its cost structure to the current reality, the business will return to earning historic returns on capital. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Weitz Funds Comments on Anheuser-Busch InBev Guru stock highlight
Anheuser-Busch InBev (NYSE:BUD) is the clear-cut leading global beer company after its recent acquisition of SABMiller plc. The stock briefly traded above $130 last fall due to high expectations for the combined company’s prospects and strong investor demand for stable, cash-generative consumer staples companies. Anheuser-Busch InBev’s stock declined later in the year due in part to temporary challenges in its Brazilian business. At $110, we think the company trades at a moderate discount to value for a world-class business, with a roadmap to significantly higher earnings in three years. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Weitz Funds Comments on Texas Instruments Guru stock highlight
Texas Instruments (NASDAQ:TXN) is the market leader in the sale of analog and embedded semiconductors. Shares rose on optimism that the available market for the company’s products will continue to expand as industrial and automotive markets include more electronic content in their products. The company’s long-term strategy of moving incremental business to its low-cost 300 millimeter wafer manufacturing process also continues to expand the long-term margin horizon for the company. Furthermore, Texas Instruments has continued to benefit from investor recognition of the company’s execution, disciplined capital allocation (returning all excess cash to shareowners) and the potential that the market for analog semiconductors is becoming slightly less cyclical, as the industry has matured and consolidated. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Weitz Funds Comments on Laboratory Corp. of America Guru stock highlight
Laboratory Corp. of America (LabCorp) (NYSE:LH) operates as a diversified global life sciences company through two segments: LabCorp Diagnostics and Covance Drug Development. Following a choppy 2016 third quarter, LabCorp’s fourth quarter operating results resumed a more normal course. Test volumes rebounded at LabCorp Diagnostics, as did new clinical trial bookings at Covance. The company closed the year on a high note, with sales increasing 11% and cash earnings per share up 12% versus the prior year. Underlying clinical lab trends remain stable and the pace of clinical research outsourcing continues to be healthy. Anticipated cuts in Medicare reimbursement for lab tests and a gradual shift by payers toward value-based payment models are creating new, long hoped-for opportunities for LabCorp’s low cost lab network. LabCorp announced the acquisition of two valuable hospital- based labs during the first quarter and continues to see a steady flow of attractive potential ‘tuck-in’ lab acquisition opportunities. The company’s combination of durable organic growth and significant reinvestment runway remains appealing to us as long-term investors More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Wally Weitz Comments on Visa Guru stock highlight
Visa (NYSE:V) is the world’s largest electronic payment network. The company recently closed on its acquisition of Visa Europe, allowing it to provide a fully integrated network to clients, which should result in increased market share and lower costs. We believe Visa will compound nicely as worldwide payment volumes grow, developing countries switch from cash to cards, and the company uses its technology and network to participate in all forms of electronic payments. More...

Add Notes, Comments

If you want to ask a question or report a bug, please create a support ticket.

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat

{{numOfNotice}}
FEEDBACK