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Weitz Investment

Q1 2015 13F · by Wallace Weitz, founder

As of
Mar 31, 2015
Filed
May 12, 2015
US stock
$3.7B · prev $3.6B
Positions
65 · prev 71
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%

Moves55 since the prior filing

The book

Focused · behaves like 36 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Moderate turnover · 28% a year, about 3.5 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions26% of US stock

  1. LBTYK Liberty Global Ltd. Class C added+0.06 pp added+0.066.8%
  2. BRK.B BERKSHIRE HATHAWAY Class B added−0.37 pp added−0.375.7%
  3. unresolved Valeant Pharmaceuticals Intl trimmed−0.59 pp trimmed−0.594.9%
  4. unresolved Liberty Media Corp Delaware added+0.42 pp added+0.424.1%
  5. unresolved Liberty Interactive Corp trimmed−0.34 pp trimmed−0.344.0%

Positions65 in this filing · 6 exited

LBTYKLiberty Global Ltd. Class C6.85%5,091,325$254Madded+1%+0.06 pp8 q
BRK.BBERKSHIRE HATHAWAY Class B5.65%1,449,433$209Madded+1%−0.37 pp8 q
unresolvedValeant Pharmaceuticals Intl4.92%917,261$182Mtrimmed−33%−0.59 pp8 q
unresolvedLiberty Media Corp Delaware4.14%4,014,666$153Madded+6%+0.42 pp3 q
unresolvedLiberty Interactive Corp4.01%5,090,990$149Mtrimmed−4%−0.34 pp8 q
unresolvedExpress Scripts Hldg Co3.35%1,429,702$124Mtrimmed−15%−0.63 pp8 q
TDGTransDigm Group Incorporated3.27%553,592$121Mtrimmed−8%−0.02 pp8 q
BRK.ABerkshire Hathaway Inc.3.07%523$114Madded×7.6+2.63 pp8 q
RRCRange Resources Corp3.00%2,136,130$111Madded+4%−0.06 pp8 q
MLMMartin Marietta Materials2.92%773,116$108Mtrimmed−0%+0.54 pp8 q
WFCWells Fargo & Co.2.71%1,844,267$100Mtrimmed−4%−0.24 pp8 q
RWTRedwood Trust, Inc.2.67%5,528,454$99Mtrimmed−13%−0.81 pp8 q
DISCKDiscovery Inc-c2.58%3,244,064$96Madded+32%+0.26 pp3 q
99803EURLaboratory Crp Of Amer Hldgs2.54%746,258$94Mtrimmed−25%−0.46 pp8 q
LBRDKLiberty Broadband Corporation Class C2.39%1,564,892$89Madded+30%+0.72 pp2 q
PXDPioneer Natural Resource Co.2.33%527,311$86Madded+1%+0.16 pp5 q
unresolvedIconix Brand Group Inc2.18%2,394,755$81Madded+1%−0.06 pp8 q
unresolvedPrecision Castparts Corp2.14%377,852$79Madded+57%+0.52 pp3 q
unresolvedCatamaran Corp1.89%1,177,876$70Madded+1%+0.21 pp4 q
unresolvedInterval Leisure Group Inc1.86%2,629,001$69Mtrimmed−20%−0.05 pp8 q
ENDPQEndo International PLC1.81%747,530$67Mtrimmed−3%+0.26 pp5 q
unresolvedThe Adt Corporation1.74%1,551,470$64Mtrimmed−8%+0.03 pp6 q
unresolvedAon PLC1.73%665,145$64Madded+2%0.00 pp8 q
GOOGAlphabet Inc. Class C1.57%106,150$58Madded+2%+0.04 pp4 q
ORCLOracle Corp1.57%1,349,737$58Madded+1%−0.11 pp8 q
AVPAvon Products, Inc.1.49%6,895,500$55Madded+14%−0.09 pp8 q
MSIMotorola Solutions, Inc. New1.49%827,724$55Mtrimmed−19%−0.41 pp2 q
TXNTexas Instruments Incorporated1.49%963,736$55Mtrimmed−36%−0.74 pp8 q
unresolvedTwenty First Centy Fox Inc1.34%1,465,880$50Mtrimmed−8%−0.38 pp2 q
LYVLive Nation Entertainment Inc.1.31%1,919,085$48Mtrimmed−20%−0.44 pp8 q
WAIRWESCO Aircraft Holdings Inc.1.22%2,954,705$45Mtrimmed−6%0.00 pp5 q
NCMINational CineMedia, Inc.1.18%2,891,631$44Mheld—8 q
unresolvedLiberty Media Corp Delaware1.15%1,103,472$43Mtrimmed−0%+0.06 pp8 q
unresolvedTwenty First Centy Fox Inc1.14%1,284,233$42Madded×6.5+0.94 pp2 q
FISFidelity National Information Services, Inc.1.08%587,966$40Madded+2%+0.07 pp8 q
unresolvedXO Group Inc.1.01%2,115,990$37Mtrimmed−15%−0.26 pp8 q
unresolvedLiberty Interactive Corp0.99%875,856$37Madded+4%+0.11 pp8 q
BROBrown & Brown, Inc.0.96%1,079,259$36Madded+2%−0.01 pp8 q
CLBCore Laboratories Inc.0.93%329,200$34Madded×2.2+0.43 pp2 q
Redwood Trust Incconvertible0.88%32,825,000$33Mheld—8 q
unresolvedWillis Group Holdings Public0.86%662,985$32Madded+2%+0.05 pp8 q
FLIRFLIR Systems, Inc. (DE)0.80%943,515$30Madded+3%−0.03 pp8 q
unresolvedGoogle Inc.0.80%53,650$30Mheld—8 q
ALSNAllison Transmission Holdings, Inc.0.73%846,541$27Mtrimmed−12%−0.18 pp5 q
MAMastercard Incorporated0.71%304,820$26Madded+7%+0.03 pp2 q
unresolvedAngie's List0.62%3,903,562$23Madded+6%−0.02 pp4 q
OMCOmnicom Group Inc.0.60%284,430$22Mtrimmed−2%−0.03 pp8 q
UPSUnited Parcel Service, Inc. Class B0.60%231,150$22Mheld—8 q
ACNAccenture PLC0.58%230,400$22Mheld—8 q
LBRDALiberty Broadband Corporation Class A0.54%353,113$20Madded+2%+0.06 pp2 q
ACIWACI Worldwide, Inc.0.44%745,000$16Madded0%+0.02 pp8 q
PXGBXPraxair Inc0.41%125,745$15Madded0%−0.04 pp8 q
DEODiageo plc0.39%131,595$15Mheld—8 q
WKCWorld Kinect Corporation0.31%200,000$11Mtrimmed−41%−0.14 pp8 q
unresolvedCumulus Media Inc-cl A0.24%3,553,400$9Mheld—8 q
PBHPrestige Consumer Healthcare Inc.0.19%160,000$7Mheld—8 q
35YCorecard Corp0.18%2,270,000$7Mheld—8 q
POSTPost Holdings, Inc.0.18%145,000$7Mheld—3 q
ASCMAAscent Capital Group, Inc. Series A0.15%140,000$6Mheld—8 q
BUDAnheuser-Busch INBEV SA/NV0.04%13,000$2Mheld—7 q
MSFTMicrosoft Corp0.04%40,000$2Mheld—8 q
SLCAU.s. Silica Holdings, Inc.0.03%30,000$1Mheld—2 q
37MMrc Global Inc0.02%65,110$772,000trimmed−26%−0.02 pp2 q
unresolvedComcast Corp. Spl Cl A0.01%6,500$364,000held—2 q
MNRMonmouth Real Estate Inv Cor0.00%6,800$76,000held—3 q
unresolvedDirectv—−268,570—exited−0.65 pp—
unresolvedLiberty Broadband Corp—−272,778—exited−0.07 pp—
DISThe Walt Disney Company—−19,000—exited−0.05 pp—
EBAYeBay Inc—−9,500—exited−0.01 pp—
IWViShares Russell 3000 ETF—−2,310—exited−0.01 pp—
9990302DApache Corp—−1,030—exited0.00 pp—

Source

Form
13F-HR
Reading
0 defects · 20 unresolved
Accession
0000891804-15-000343
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet