Weitz Investment

Q2 2019 13F · by Brad Hinton, CIO

As of: Jun 30, 2019
Filed: Aug 8, 2019
US stock: $2.5B · prev $2.4B
Positions: 69 · prev 72
Options notional: $0
Documents: 1· no amendments

Picture98.7% US stock

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

US stock listed on a US exchange 98.7%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 1.3%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves45 since the prior filing

+1.8 pp in · −2.0 pp out

New 0 0.00 pp
Added 15 +1.82 pp
Trimmed 27 −1.71 pp
Exited 3 −0.30 pp

The book

Focused · behaves like 32 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 11% a year, about 9.0 years per position

Low
Moderate
High

Top 5 positions28% of US stock

BRK.A Berkshire Hathaway Inc. held held7.1%
BRK.B BERKSHIRE HATHAWAY Class B added+0.18 pp added+0.186.9%
LBRDK Liberty Broadband Corporation Class C trimmed−0.39 pp trimmed−0.395.2%
GOOG Alphabet Inc. Class C added−0.40 pp added−0.404.5%
99803EUR Laboratory Crp Of Amer Hldgs trimmed−0.07 pp trimmed−0.074.3%

Positions69 in this filing · 3 exited


BRK.ABerkshire Hathaway Inc.	7.14%	558	$178M	held	—	25 q
BRK.BBERKSHIRE HATHAWAY Class B	6.94%	809,407	$173M	added+1%	+0.18 pp	25 q
LBRDKLiberty Broadband Corporation Class C	5.17%	1,232,475	$128M	trimmed−15%	−0.39 pp	19 q
GOOGAlphabet Inc. Class C	4.49%	103,255	$112M	added+4%	−0.40 pp	21 q
99803EURLaboratory Crp Of Amer Hldgs	4.26%	612,525	$106M	trimmed−9%	−0.07 pp	25 q
MAMastercard Incorporated	4.08%	383,750	$102M	trimmed−6%	+0.05 pp	19 q
VVISA Inc.	4.08%	584,470	$101M	trimmed−4%	+0.08 pp	12 q
LBTYKLiberty Global Ltd. Class C	4.02%	3,769,400	$100M	trimmed−3%	+0.08 pp	25 q
METAMeta Platforms, Inc. Class A	3.29%	423,500	$82M	trimmed−2%	+0.26 pp	6 q
KMXCarMax Inc.	3.21%	919,250	$80M	trimmed−18%	−0.08 pp	6 q
35YCorecard Corp	2.63%	2,270,000	$65M	held	—	25 q
LSXMKLiberty Media Cor-siriusxm C	2.60%	1,701,250	$65M	added+2%	−0.09 pp	13 q
SCHWThe Charles Schwab Corporation	2.31%	1,429,300	$57M	added+4%	−0.15 pp	4 q
RWTRedwood Trust, Inc.	2.29%	3,445,500	$57M	trimmed−0%	−0.05 pp	25 q
BKNGBooking Holdings Inc.	2.27%	30,085	$56M	added+40%	+0.70 pp	6 q
SUMSummit Materials, Inc. Class A	1.88%	2,435,000	$47M	added+10%	+0.40 pp	5 q
TXNTexas Instruments Incorporated	1.83%	397,100	$46M	held	—	25 q
BKIBlack Knight, Inc.	1.82%	750,900	$45M	held	—	3 q
ORCLOracle Corp	1.81%	789,900	$45M	trimmed−2%	0.00 pp	25 q
VMCVulcan Materials Company(Holding Company)	1.76%	318,010	$44M	added+9%	+0.31 pp	7 q
unresolvedColfax Corp	1.74%	1,546,450	$43M	trimmed−4%	−0.27 pp	15 q
DXCDXC Technology Company	1.70%	768,500	$42M	added+24%	+0.03 pp	9 q
unresolvedAon PLC	1.65%	212,700	$41M	trimmed−0%	+0.12 pp	25 q
TDGTransDigm Group Incorporated	1.60%	82,445	$40M	trimmed−2%	−0.01 pp	6 q
CMCSAComcast Corp	1.59%	937,450	$40M	trimmed−5%	−0.07 pp	15 q
99952EURLinde PLC/OLD	1.32%	163,000	$33M	trimmed−4%	+0.06 pp	3 q
TMOThermo Fisher Scientific, Inc.	1.30%	110,000	$32M	added+5%	+0.09 pp	11 q
AMZNAmazon.Com Inc	1.18%	15,500	$29M	held	—	15 q
ADIAnalog Devices, Inc.	1.16%	255,000	$29M	held	—	3 q
BOXBox, Inc.	1.15%	1,622,100	$29M	added+55%	+0.30 pp	2 q
DHRDanaher Corporation	1.15%	200,000	$29M	held	—	8 q
JPMJPMorgan Chase & Co.	1.09%	243,500	$27M	added+1%	+0.06 pp	7 q
unresolvedQurate Retail Inc	1.07%	2,154,064	$27M	added+30%	−0.04 pp	5 q
AXTAAxalta Coating Systems Ltd.	1.00%	835,575	$25M	trimmed−1%	+0.11 pp	8 q
LILAKLiberty Latin America Ltd. Class C	1.00%	1,449,500	$25M	trimmed−7%	−0.27 pp	6 q
MRVLMarvell Technology, Inc.	0.99%	1,035,300	$25M	trimmed−38%	−0.41 pp	7 q
DLTRDollar Tree Inc.	0.95%	220,000	$24M	trimmed−20%	−0.26 pp	10 q
DEODiageo plc	0.90%	130,000	$22M	held	—	25 q
GLIBAGci Liberty Inc - Class A	0.88%	357,500	$22M	trimmed−1%	+0.03 pp	6 q
MKLMarkel Group Inc.	0.88%	20,000	$22M	added+54%	+0.34 pp	6 q
LBRDALiberty Broadband Corporation Class A	0.80%	192,500	$20M	trimmed−1%	+0.05 pp	19 q
GWREGuidewire Software, Inc.	0.78%	190,400	$19M	added+3%	+0.02 pp	14 q
ACNAccenture PLC	0.77%	103,000	$19M	held	—	25 q
WAIRWESCO Aircraft Holdings Inc.	0.67%	1,500,000	$17M	held	—	22 q
SWKStanley Black & Decker, Inc.	0.62%	107,295	$16M	trimmed−9%	−0.06 pp	3 q
MLMMartin Marietta Materials	0.61%	66,030	$15M	held	—	8 q
LM03Liberty Media Cor-siriusxm A	0.60%	395,000	$15M	held	—	13 q
PRSPPerspecta Inc	0.50%	530,000	$12M	held	—	5 q
HP5AEquity Commonwealth	0.33%	250,000	$8M	held	—	17 q
GDIIngersoll Rand Inc.	0.32%	230,000	$8M	held	—	3 q
LEXEALiberty Expedia Holdings, Inc. Class A	0.29%	150,000	$7M	added+20%	+0.07 pp	11 q
ACIWACI Worldwide, Inc.	0.28%	200,000	$7M	trimmed−9%	−0.02 pp	25 q
EXPEagle Materials, Inc.	0.22%	59,500	$6M	trimmed−24%	−0.06 pp	2 q
FBINFortune Brands Innovations, Inc.	0.17%	75,000	$4M	held	—	5 q
CMPCompass Minerals International, Inc.	0.16%	74,200	$4M	trimmed−49%	−0.17 pp	13 q
BATRKAtlanta Braves Holdings, Inc. Series C	0.12%	105,000	$3M	held	—	13 q
FWONKLiberty Media Corporation Series C Liberty Formula One	0.11%	75,000	$3M	trimmed−73%	−0.29 pp	13 q
MYEMyers Industries, Inc.	0.11%	140,000	$3M	held	—	3 q
CHTRCharter Comm Inc Del CL A New	0.10%	6,500	$3M	trimmed−7%	0.00 pp	5 q
MSFTMicrosoft Corp	0.09%	17,500	$2M	held	—	5 q
VTIVanguard Morningstar Total Stock Market ETF	0.05%	8,068	$1M	held	—	11 q
LM05Liberty Media Corp-liberty-a	0.04%	27,500	$986,000	trimmed−65%	−0.07 pp	13 q
VEAVanguard FTSE Developed Markets ETF	0.03%	16,555	$690,000	held	—	11 q
BSVVanguard Short-Term Bond ETF	0.02%	4,692	$378,000	held	—	11 q
IWBiShares Russell 1000 ETF	0.01%	1,898	$309,000	held	—	11 q
BATRAAtlanta Braves Holdings, Inc. Series A	0.01%	11,000	$306,000	held	—	13 q
BIVVanguard Intermediate-Term Bond ETF	0.01%	2,371	$205,000	held	—	11 q
AAPLApple Inc.	0.00%	140	$28,000	held	—	14 q
SPYState Street SPDR S&P 500 ETF Trust	0.00%	180	$53,000	held	—	11 q
MUSAMurphy USA Inc.	—	−40,000	—	exited	−0.14 pp	—
TUPTupperware Brands Corporation	—	−91,778	—	exited	−0.10 pp	—
MDLZMondelez International, Inc. Class A	—	−30,000	—	exited	−0.06 pp	—