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Tracking Wallace Weitz's Weitz Investment Management Portfolio - Q2 2019 Update

John Vincent profile picture
John Vincent


  • Wallace Weitz's 13F portfolio value increased ~4% from $2.42B to $2.52B this quarter. The number of positions decreased from 75 to 72.
  • Weitz Investment Management increased Booking Holdings while decreasing CarMax during the quarter.
  • The top three positions are Berkshire Hathaway, Liberty Broadband, and Alphabet and they add up to ~24% of the portfolio.

This article is part of a series that provides an ongoing analysis of the changes made to Wallace Weitz’s 13F portfolio on a quarterly basis. It is based on Weitz’s regulatory 13F Form filed on 08/08/2019. Please visit our Tracking Wallace Weitz’s Weitz Investment Management Portfolio article for an idea on his investment philosophy and our last update for the fund’s moves during Q1 2019.

This quarter, Weitz’s 13F portfolio value increased ~4% from $2.42B to $2.52B. The number of holdings decreased from 75 to 72. The top three positions are at ~24% while the top five holdings are at one-third of the 13F assets. The largest stake by far is Berkshire Hathaway at ~14% of the portfolio.

Weitz Investment Management’s equity funds are Weitz Partners Value Fund (MUTF:WPVLX), Weitz Value Fund (MUTF:WVALX), Weitz Partners III Opportunity Fund (MUTF:WPOIX), and Weitz Hickory Fund (MUTF:WEHIX). The flagship Weitz Partners Value Fund (1983 inception) has generated alpha but the fund is behind the S&P 500 index over the last decade. The current cash allocation is just 1.5%: this is far below the ~18% average cash over the last decade.

Stake Disposals:

Liberty Media Formula One (FWONA) (OTCQB:FWONB): The very small 0.51% stake in FWONK was disposed during the quarter.

New Stakes:


Stake Increases:

Berkshire Hathaway (BRK.A) (BRK.B): Berkshire Hathaway is a very long-term stake and the largest holding in the portfolio at ~14%. Recent activity follows: Last three quarters had seen a ~30% selling at prices between $283,336 and $336,000 while this quarter there was a marginal increase.

Note: Wallace Weitz is known to have owned Berkshire Hathaway stock continuously since 1976 riding it from around $300 per share to the current price of $317,308.

Alphabet Inc. (GOOG) (GOOGL): GOOG was a minutely small position first purchased in 2008. The current large (top

This article was written by

John Vincent profile picture
Focused on analyzing 13F reports & building tools to help DIY investors generate absolute returns through exploiting inefficiency, volatility, and momentum.

Analyst’s Disclosure: I am/we are long BRK.B, MKL. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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