- Wallace Weitz's 13F portfolio value decreased from $1.76B to $1.74B this quarter.
- Weitz Investment Management decreased Meta Platforms and dropped Liberty Global and Charles Schwab this quarter.
- The top three positions are Alphabet, Berkshire Hathaway, and Meta Platforms. They add up to ~19% 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 5/12/2023. 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 Q4 2022.
This quarter,
Weitz’s 13F portfolio value decreased from $1.76B to $1.74B. The number of
holdings decreased from 58 to 54. The top three positions are at ~19% while the
top five holdings are at ~27% of the 13F assets. The largest stake is Alphabet
at 6.84% of the portfolio.
Weitz Investment
Management’s equity funds are Weitz Partners Value Fund (WPVLX), Weitz Value
Fund (WVALX), Weitz Partners III Opportunity Fund (WPOIX), and Weitz Hickory
Fund (WEHIX). The flagship Weitz
Partners Value Fund (1983 inception) is currently behind the S&P 500 index since
inception: 9.94% annualized return compared to 10.28% for the S&P 500 index.
The current cash allocation is just ~2%: this is far below the ~18% average
cash over the last decade.
The spreadsheet
below highlights changes to Weitz’s 13F stock holdings in Q1 2023:
Source: John Vincent. Data constructed from Weitz Investment
Management's 13F filings for Q4 2022 and Q1 2023.
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