Weitz Investment

Q4 2014 13F · by Wallace Weitz, founder

As of: Dec 31, 2014
Filed: Feb 12, 2015
US stock: $3.6B · prev $3.4B
Positions: 71 · prev 65
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves67 since the prior filing

+15.1 pp in · −14.9 pp out

New 12 +7.30 pp
Added 31 +7.76 pp
Trimmed 18 −12.97 pp
Exited 6 −1.91 pp

The book

Focused · behaves like 34 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 60% a year, about 1.7 years per position

Low
Moderate
High

Top 5 positions27% of US stock

LBTYK Liberty Global Ltd. Class C added+0.81 pp added+0.816.8%
BRK.B BERKSHIRE HATHAWAY Class B added+0.25 pp added+0.256.0%
unresolved Valeant Pharmaceuticals Intl trimmed−1.02 pp trimmed−1.025.5%
unresolved Liberty Interactive Corp added−0.03 pp added−0.034.3%
unresolved Express Scripts Hldg Co trimmed+0.29 pp trimmed+0.294.0%

Positions71 in this filing · 6 exited


LBTYKLiberty Global Ltd. Class C	6.79%	5,030,900	$243M	added+1%	+0.81 pp	7 q
BRK.BBERKSHIRE HATHAWAY Class B	6.02%	1,435,171	$215M	added+1%	+0.25 pp	7 q
unresolvedValeant Pharmaceuticals Intl	5.51%	1,378,606	$197M	trimmed−19%	−1.02 pp	7 q
unresolvedLiberty Interactive Corp	4.35%	5,297,920	$156M	added+2%	−0.03 pp	7 q
unresolvedExpress Scripts Hldg Co	3.98%	1,684,987	$143M	trimmed−5%	+0.29 pp	7 q
unresolvedLiberty Media Corp Delaware	3.72%	3,800,017	$133M	added+23%	−0.54 pp	2 q
RWTRedwood Trust, Inc.	3.48%	6,322,495	$125M	added+7%	+0.59 pp	7 q
TDGTransDigm Group Incorporated	3.29%	600,125	$118M	added+2%	+0.09 pp	7 q
RRCRange Resources Corp	3.06%	2,050,560	$110M	added+84%	+0.84 pp	7 q
99803EURLaboratory Crp Of Amer Hldgs	3.00%	996,606	$108M	added+1%	+0.04 pp	7 q
WFCWells Fargo & Co.	2.95%	1,925,266	$106M	trimmed−16%	−0.55 pp	7 q
MLMMartin Marietta Materials	2.38%	774,072	$85M	added+2%	−0.50 pp	7 q
DISCKDiscovery Inc-c	2.32%	2,464,118	$83M	added×3.9	+1.63 pp	2 q
unresolvedIconix Brand Group Inc	2.24%	2,373,930	$80M	added+2%	−0.28 pp	7 q
TXNTexas Instruments Incorporated	2.23%	1,496,447	$80M	trimmed−35%	−0.98 pp	7 q
PXDPioneer Natural Resource Co.	2.17%	522,141	$78M	added×7.2	+1.75 pp	4 q
unresolvedInterval Leisure Group Inc	1.91%	3,282,388	$69M	added+3%	+0.12 pp	7 q
MSIMotorola Solutions, Inc. New	1.90%	1,016,270	$68M	new	+1.90 pp	new
LYVLive Nation Entertainment Inc.	1.75%	2,394,970	$63M	trimmed−13%	−0.20 pp	7 q
unresolvedAon PLC	1.73%	654,828	$62M	added+1%	+0.06 pp	7 q
unresolvedTwenty First Centy Fox Inc	1.72%	1,600,960	$61M	new	+1.72 pp	new
unresolvedThe Adt Corporation	1.71%	1,693,060	$61M	trimmed−2%	−0.09 pp	5 q
unresolvedCatamaran Corp	1.68%	1,162,989	$60M	added+16%	+0.44 pp	3 q
ORCLOracle Corp	1.68%	1,339,517	$60M	trimmed−35%	−0.63 pp	7 q
LBRDKLiberty Broadband Corporation Class C	1.67%	1,202,968	$60M	new	+1.67 pp	new
unresolvedPrecision Castparts Corp	1.62%	241,278	$58M	added+89%	+0.73 pp	2 q
AVPAvon Products, Inc.	1.58%	6,043,429	$57M	added+23%	−0.24 pp	7 q
ENDPQEndo International PLC	1.55%	767,530	$55M	added+6%	+0.10 pp	4 q
GOOGAlphabet Inc. Class C	1.53%	103,871	$55M	added+54%	+0.39 pp	3 q
unresolvedXO Group Inc.	1.27%	2,499,115	$46M	trimmed−11%	+0.34 pp	7 q
WAIRWESCO Aircraft Holdings Inc.	1.22%	3,132,185	$44M	added+38%	+0.06 pp	4 q
NCMINational CineMedia, Inc.	1.16%	2,891,631	$42M	added+1%	−0.06 pp	7 q
unresolvedLiberty Media Corp Delaware	1.09%	1,107,317	$39M	trimmed−25%	−0.96 pp	7 q
FISFidelity National Information Services, Inc.	1.01%	578,830	$36M	added+1%	+0.06 pp	7 q
BROBrown & Brown, Inc.	0.97%	1,057,814	$35M	added+1%	−0.02 pp	7 q
ALSNAllison Transmission Holdings, Inc.	0.91%	959,529	$33M	added×64.0	+0.90 pp	4 q
Redwood Trust Incconvertible	0.91%	32,825,000	$32M	added+14%	+0.07 pp	7 q
unresolvedLiberty Interactive Corp	0.88%	838,983	$32M	added+79%	+0.36 pp	7 q
FLIRFLIR Systems, Inc. (DE)	0.83%	917,135	$30M	added+2%	0.00 pp	7 q
unresolvedWillis Group Holdings Public	0.81%	650,695	$29M	added+11%	+0.09 pp	7 q
unresolvedGoogle Inc.	0.79%	53,650	$28M	held	—	7 q
UPSUnited Parcel Service, Inc. Class B	0.72%	231,150	$26M	trimmed−3%	+0.03 pp	7 q
MAMastercard Incorporated	0.68%	284,120	$24M	new	+0.68 pp	new
unresolvedDirectv	0.65%	268,570	$23M	trimmed−83%	−3.49 pp	7 q
unresolvedAngie's List	0.64%	3,682,062	$23M	added0%	−0.05 pp	3 q
OMCOmnicom Group Inc.	0.63%	289,075	$22M	trimmed−1%	+0.04 pp	7 q
ACNAccenture PLC	0.57%	230,400	$21M	held	—	7 q
CLBCore Laboratories Inc.	0.50%	148,500	$18M	new	+0.50 pp	new
LBRDALiberty Broadband Corporation Class A	0.48%	346,083	$17M	new	+0.48 pp	new
PXGBXPraxair Inc	0.45%	125,645	$16M	held	—	7 q
WKCWorld Kinect Corporation	0.45%	341,591	$16M	trimmed−8%	+0.01 pp	7 q
BRK.ABerkshire Hathaway Inc.	0.44%	69	$16M	held	—	7 q
ACIWACI Worldwide, Inc.	0.42%	743,000	$15M	added+16%	+0.07 pp	7 q
unresolvedCumulus Media Inc-cl A	0.42%	3,553,400	$15M	added+7%	+0.03 pp	7 q
DEODiageo plc	0.42%	131,595	$15M	held	—	7 q
ASCMAAscent Capital Group, Inc. Series A	0.21%	140,000	$7M	held	—	7 q
unresolvedTwenty First Centy Fox Inc	0.20%	197,613	$7M	new	+0.20 pp	new
POSTPost Holdings, Inc.	0.17%	145,000	$6M	trimmed−40%	−0.07 pp	2 q
PBHPrestige Consumer Healthcare Inc.	0.16%	160,000	$6M	held	—	7 q
35YCorecard Corp	0.10%	2,270,000	$4M	held	—	7 q
unresolvedLiberty Broadband Corp	0.07%	272,778	$3M	new	+0.07 pp	new
DISThe Walt Disney Company	0.05%	19,000	$2M	trimmed−93%	−0.69 pp	7 q
MSFTMicrosoft Corp	0.05%	40,000	$2M	trimmed−97%	−1.92 pp	7 q
BUDAnheuser-Busch INBEV SA/NV	0.04%	13,000	$1M	held	—	6 q
37MMrc Global Inc	0.04%	88,470	$1M	new	+0.04 pp	new
SLCAU.s. Silica Holdings, Inc.	0.02%	30,000	$771,000	new	+0.02 pp	new
unresolvedComcast Corp. Spl Cl A	0.01%	6,500	$374,000	new	+0.01 pp	new
EBAYeBay Inc	0.01%	9,500	$533,000	trimmed−99%	−1.09 pp	4 q
IWViShares Russell 3000 ETF	0.01%	2,310	$282,000	new	+0.01 pp	new
9990302DApache Corp	0.00%	1,030	$65,000	trimmed−100%	−1.99 pp	7 q
MNRMonmouth Real Estate Inv Cor	0.00%	6,800	$75,000	held	—	2 q
CACICaci International Cla	—	−314,400	—	exited	−0.66 pp	—
TBFProShares Short 20+ Year Treasury ETF	—	−700,000	—	exited	−0.57 pp	—
LTRPALiberty TripAdvisor Holdings, Inc. Series A	—	−430,000	—	exited	−0.43 pp	—
unresolvedSapient Corp	—	−550,100	—	exited	−0.23 pp	—
FCNFTI Consulting, Inc.	—	−9,000	—	exited	−0.01 pp	—
unresolvedHewlett Packard Co	—	−10,500	—	exited	−0.01 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 22 unresolved
Accession: 0000891804-15-000141
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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