Weitz Investment

Q1 2020 13F · by Brad Hinton, CIO

As of: Mar 31, 2020
Filed: May 11, 2020
US stock: $1.9B · prev $2.5B
Positions: 67 · prev 66
Options notional: $0
Documents: 1· no amendments

Picture99.3% US stock

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

US stock listed on a US exchange 99.3%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.7%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves50 since the prior filing

+5.2 pp in · −7.4 pp out

New 7 +5.42 pp
Added 15 −0.27 pp
Trimmed 22 −1.37 pp
Exited 6 −6.01 pp

The book

Focused · behaves like 29 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 31% a year, about 3.3 years per position

Low
Moderate
High

Top 5 positions31% of US stock

Positions67 in this filing · 6 exited


BRK.ABerkshire Hathaway Inc.	8.11%	558	$152M	held	—	28 q
BRK.BBERKSHIRE HATHAWAY Class B	7.73%	791,771	$145M	trimmed−1%	+0.54 pp	28 q
GOOGAlphabet Inc. Class C	5.58%	89,900	$105M	trimmed−4%	+0.62 pp	24 q
LBRDKLiberty Broadband Corporation Class C	5.36%	905,656	$100M	trimmed−17%	−0.03 pp	22 q
VVISA Inc.	4.12%	478,300	$77M	trimmed−2%	+0.50 pp	15 q
MAMastercard Incorporated	3.79%	293,565	$71M	trimmed−1%	+0.30 pp	22 q
99803EURLaboratory Crp Of Amer Hldgs	3.56%	526,850	$67M	trimmed−3%	−0.06 pp	28 q
METAMeta Platforms, Inc. Class A	3.39%	380,100	$63M	trimmed−1%	+0.28 pp	9 q
LBTYKLiberty Global Ltd. Class C	3.03%	3,613,000	$57M	trimmed−0%	−0.09 pp	28 q
LSXMKLiberty Media Cor-siriusxm C	2.80%	1,657,500	$52M	added+1%	−0.33 pp	16 q
35YCorecard Corp	2.79%	1,539,000	$52M	trimmed−18%	−0.18 pp	28 q
MKLMarkel Group Inc.	2.73%	55,002	$51M	added+14%	+0.55 pp	9 q
VMCVulcan Materials Company(Holding Company)	2.57%	444,400	$48M	added+34%	+0.68 pp	10 q
SCHWThe Charles Schwab Corporation	2.27%	1,262,850	$42M	trimmed−15%	−0.52 pp	7 q
ORCLOracle Corp	2.20%	850,900	$41M	added+4%	+0.48 pp	28 q
unresolvedAon PLC	2.08%	235,800	$39M	added+5%	+0.24 pp	28 q
CSGPCoStar Group Inc	2.04%	64,900	$38M	new	+2.04 pp	new
AMZNAmazon.Com Inc	2.03%	19,500	$38M	held	—	18 q
KMXCarMax Inc.	1.97%	686,400	$37M	added+1%	−0.37 pp	9 q
BKIBlack Knight, Inc.	1.81%	584,400	$34M	trimmed−14%	+0.08 pp	6 q
TMOThermo Fisher Scientific, Inc.	1.67%	110,000	$31M	held	—	14 q
TXNTexas Instruments Incorporated	1.61%	301,300	$30M	trimmed−9%	−0.07 pp	28 q
JPMJPMorgan Chase & Co.	1.50%	312,000	$28M	added+28%	+0.16 pp	10 q
DHRDanaher Corporation	1.48%	200,000	$28M	held	—	11 q
SUMSummit Materials, Inc. Class A	1.46%	1,821,200	$27M	added+6%	−0.17 pp	8 q
XLFState Street Financial Select Sector SPDR ETF	1.33%	1,200,000	$25M	new	+1.33 pp	new
ADIAnalog Devices, Inc.	1.28%	267,500	$24M	held	—	6 q
CMCSAComcast Corp	1.11%	605,000	$21M	held	—	18 q
LBRDALiberty Broadband Corporation Class A	1.10%	192,500	$21M	held	—	22 q
ACIWACI Worldwide, Inc.	1.08%	839,650	$20M	added+18%	+0.01 pp	28 q
CRMSalesforce, Inc.	1.08%	140,000	$20M	held	—	3 q
99952EURLinde PLC/OLD	1.02%	110,000	$19M	trimmed−33%	−0.35 pp	6 q
LILAKLiberty Latin America Ltd. Class C	1.01%	1,835,200	$19M	added+12%	−0.25 pp	9 q
RWTRedwood Trust, Inc.	0.97%	3,586,850	$18M	added+10%	−1.15 pp	28 q
BOXBox, Inc.	0.94%	1,253,000	$18M	trimmed−21%	−0.12 pp	5 q
DEODiageo plc	0.94%	139,000	$18M	added+9%	+0.09 pp	28 q
GWREGuidewire Software, Inc.	0.93%	219,000	$17M	added+1%	−0.01 pp	17 q
SPGIS&P Global Inc.	0.90%	68,500	$17M	new	+0.90 pp	new
ACNAccenture PLC	0.90%	103,000	$17M	held	—	28 q
MRVLMarvell Technology, Inc.	0.81%	670,600	$15M	trimmed−6%	+0.06 pp	10 q
LKQLKQ Corporation	0.76%	689,400	$14M	trimmed−0%	−0.21 pp	3 q
AXTAAxalta Coating Systems Ltd.	0.74%	798,800	$14M	trimmed−2%	−0.24 pp	11 q
LM03Liberty Media Cor-siriusxm A	0.63%	370,000	$12M	trimmed−6%	−0.12 pp	16 q
MLMMartin Marietta Materials	0.55%	54,430	$10M	trimmed−14%	−0.15 pp	11 q
HEI.AHeico Corp Cl A	0.54%	158,750	$10M	new	+0.54 pp	new
GLIBAGci Liberty Inc - Class A	0.52%	170,000	$10M	held	—	9 q
unresolvedQurate Retail Inc	0.51%	1,575,000	$10M	trimmed−48%	−0.49 pp	8 q
IEXIDEX Corporation	0.47%	63,394	$9M	new	+0.47 pp	new
DXCDXC Technology Company	0.42%	600,000	$8M	added+33%	−0.25 pp	12 q
HP5AEquity Commonwealth	0.42%	250,000	$8M	held	—	20 q
IRIngersoll Rand Inc.	0.30%	230,000	$6M	held	—	6 q
FHBFirst Hawaiian, Inc.	0.23%	260,000	$4M	added+63%	+0.05 pp	2 q
MSFTMicrosoft Corp	0.15%	17,500	$3M	held	—	8 q
CHTRCharter Comm Inc Del CL A New	0.13%	5,500	$2M	trimmed−8%	+0.02 pp	8 q
BATRKAtlanta Braves Holdings, Inc. Series C	0.11%	105,000	$2M	held	—	16 q
EXPEExpedia Group, Inc.	0.09%	30,000	$2M	trimmed−90%	−1.14 pp	3 q
FTVFortive Corporation	0.07%	25,000	$1M	new	+0.07 pp	new
HONHoneywell International, Inc.	0.07%	10,000	$1M	new	+0.07 pp	new
FWONKLiberty Media Corporation Series C Liberty Formula One	0.07%	50,000	$1M	held	—	16 q
VTIVanguard Morningstar Total Stock Market ETF	0.06%	8,068	$1M	held	—	14 q
LM05Liberty Media Corp-liberty-a	0.04%	27,500	$710,000	held	—	16 q
VEAVanguard FTSE Developed Markets ETF	0.03%	16,555	$552,000	held	—	14 q
BSVVanguard Short-Term Bond ETF	0.02%	4,692	$386,000	held	—	14 q
IWBiShares Russell 1000 ETF	0.01%	1,648	$233,000	held	—	14 q
BATRAAtlanta Braves Holdings, Inc. Series A	0.01%	11,000	$215,000	held	—	16 q
BIVVanguard Intermediate-Term Bond ETF	0.01%	2,371	$212,000	held	—	14 q
AAPLApple Inc.	0.00%	140	$36,000	held	—	17 q
BKNGBooking Holdings Inc.	—	−25,730	—	exited	−2.09 pp	—
unresolvedColfax Corp	—	−1,248,250	—	exited	−1.79 pp	—
DLTRDollar Tree Inc.	—	−200,000	—	exited	−0.74 pp	—
TDGTransDigm Group Incorporated	—	−28,355	—	exited	−0.63 pp	—
PRSPPerspecta Inc	—	−550,000	—	exited	−0.57 pp	—
FBINFortune Brands Innovations, Inc.	—	−75,000	—	exited	−0.19 pp	—