Weitz Investment

Q3 2020 13F · by Brad Hinton, CIO

As of: Sep 30, 2020
Filed: Nov 12, 2020
US stock: $2.1B · prev $2.0B
Positions: 64 · prev 63
Options notional: $0
Documents: 1· no amendments

Picture99.1% US stock

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

US stock listed on a US exchange 99.1%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.9%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves34 since the prior filing

+3.6 pp in · −4.5 pp out

New 2 +2.25 pp
Added 8 +1.34 pp
Trimmed 23 −4.29 pp
Exited 1 −0.23 pp

The book

Focused · behaves like 30 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 16% a year, about 6.4 years per position

Low
Moderate
High

Top 5 positions28% of US stock

BRK.A Berkshire Hathaway Inc. held held8.4%
BRK.B BERKSHIRE HATHAWAY Class B trimmed+0.08 pp trimmed+0.087.2%
GOOG Alphabet Inc. Class C trimmed−1.58 pp trimmed−1.584.5%
99803EUR Laboratory Crp Of Amer Hldgs added+0.40 pp added+0.404.2%
V VISA Inc. trimmed−0.21 pp trimmed−0.213.9%

Positions64 in this filing · 1 exited


BRK.ABerkshire Hathaway Inc.	8.44%	558	$179M	held	—	30 q
BRK.BBERKSHIRE HATHAWAY Class B	7.16%	711,771	$152M	trimmed−10%	+0.08 pp	30 q
GOOGAlphabet Inc. Class C	4.46%	64,270	$94M	trimmed−25%	−1.58 pp	26 q
99803EURLaboratory Crp Of Amer Hldgs	4.15%	466,400	$88M	added+3%	+0.40 pp	30 q
VVISA Inc.	3.93%	415,800	$83M	trimmed−3%	−0.21 pp	17 q
LBRDKLiberty Broadband Corporation Class C	3.88%	575,000	$82M	trimmed−22%	−0.71 pp	24 q
MAMastercard Incorporated	3.85%	241,065	$82M	trimmed−9%	−0.09 pp	24 q
CSGPCoStar Group Inc	3.20%	79,900	$68M	held	—	3 q
SCHWThe Charles Schwab Corporation	3.17%	1,852,300	$67M	added+10%	+0.32 pp	9 q
METAMeta Platforms, Inc. Class A	3.14%	253,900	$66M	trimmed−25%	−0.70 pp	11 q
AONAon plc Class A	3.13%	321,050	$66M	added+12%	+0.36 pp	2 q
VMCVulcan Materials Company(Holding Company)	3.02%	471,200	$64M	held	—	12 q
LSXMKLiberty Media Cor-siriusxm C	2.86%	1,832,200	$61M	added+11%	0.00 pp	18 q
KMXCarMax Inc.	2.76%	635,000	$58M	trimmed−2%	−0.16 pp	11 q
MKLMarkel Group Inc.	2.45%	53,250	$52M	trimmed−2%	−0.07 pp	11 q
ORCLOracle Corp	2.17%	769,500	$46M	trimmed−4%	−0.04 pp	30 q
LBTYKLiberty Global Ltd. Class C	2.02%	2,086,000	$43M	held	—	30 q
TMOThermo Fisher Scientific, Inc.	1.98%	95,000	$42M	trimmed−14%	−0.02 pp	16 q
AMZNAmazon.Com Inc	1.93%	13,000	$41M	trimmed−19%	−0.28 pp	20 q
DHRDanaher Corporation	1.93%	190,000	$41M	trimmed−5%	+0.16 pp	13 q
FISFidelity National Information Services, Inc.	1.78%	256,000	$38M	new	+1.78 pp	new
BKIBlack Knight, Inc.	1.69%	410,000	$36M	trimmed−7%	+0.09 pp	8 q
TXNTexas Instruments Incorporated	1.67%	248,000	$35M	trimmed−3%	+0.04 pp	30 q
35YCorecard Corp	1.64%	890,000	$35M	trimmed−11%	−0.06 pp	30 q
ADIAnalog Devices, Inc.	1.48%	267,500	$31M	held	—	8 q
CRMSalesforce, Inc.	1.43%	120,000	$30M	trimmed−14%	+0.12 pp	5 q
SUMSummit Materials, Inc. Class A	1.35%	1,722,500	$28M	held	—	10 q
CMCSAComcast Corp	1.30%	595,000	$28M	trimmed−2%	+0.12 pp	20 q
JPMJPMorgan Chase & Co.	1.19%	262,000	$25M	held	—	12 q
SPGIS&P Global Inc.	1.17%	68,500	$25M	held	—	3 q
99952EURLinde PLC/OLD	1.17%	104,000	$25M	trimmed−5%	0.00 pp	8 q
ACNAccenture PLC	1.10%	103,000	$23M	held	—	30 q
ACIWACI Worldwide, Inc.	1.03%	833,585	$22M	held	—	30 q
DEODiageo plc	1.03%	158,000	$22M	added+14%	+0.09 pp	30 q
GWREGuidewire Software, Inc.	1.03%	208,300	$22M	trimmed−8%	−0.22 pp	19 q
LBRDALiberty Broadband Corporation Class A	0.90%	133,750	$19M	trimmed−25%	−0.19 pp	24 q
BOXBox, Inc.	0.86%	1,049,000	$18M	held	—	7 q
LKQLKQ Corporation	0.80%	612,000	$17M	held	—	5 q
MLMMartin Marietta Materials	0.78%	70,450	$17M	held	—	13 q
AXTAAxalta Coating Systems Ltd.	0.77%	733,500	$16M	held	—	13 q
HEI.AHeico Corp Cl A	0.74%	175,500	$16M	held	—	3 q
LILAKLiberty Latin America Ltd. Class C	0.71%	1,846,395	$15M	added+27%	+0.02 pp	11 q
LM03Liberty Media Cor-siriusxm A	0.66%	420,000	$14M	added+14%	+0.02 pp	18 q
unresolvedQurate Retail Inc	0.65%	1,910,000	$14M	added+74%	+0.13 pp	10 q
RWTRedwood Trust, Inc.	0.63%	1,776,050	$13M	trimmed−46%	−0.51 pp	30 q
IEXIDEX Corporation	0.60%	69,700	$13M	held	—	3 q
FRCBFirst Republic Bk CA	0.47%	91,050	$10M	new	+0.47 pp	new
GLIBAGci Liberty Inc - Class A	0.34%	89,000	$7M	held	—	11 q
IRIngersoll Rand Inc.	0.32%	190,000	$7M	trimmed−5%	+0.04 pp	8 q
MSFTMicrosoft Corp	0.17%	17,500	$4M	held	—	10 q
DLBDolby Laboratories, Inc.Class A	0.16%	50,000	$3M	held	—	2 q
FHBFirst Hawaiian, Inc.	0.16%	240,000	$3M	trimmed−20%	−0.10 pp	4 q
CHTRCharter Comm Inc Del CL A New	0.15%	5,000	$3M	held	—	10 q
BATRKAtlanta Braves Holdings, Inc. Series C	0.10%	105,000	$2M	held	—	18 q
FTVFortive Corporation	0.09%	25,000	$2M	held	—	3 q
HONHoneywell International, Inc.	0.09%	11,000	$2M	held	—	3 q
VTIVanguard Morningstar Total Stock Market ETF	0.06%	8,068	$1M	held	—	16 q
VEAVanguard FTSE Developed Markets ETF	0.03%	16,555	$677,000	held	—	16 q
BSVVanguard Short-Term Bond ETF	0.02%	4,692	$390,000	held	—	16 q
IWBiShares Russell 1000 ETF	0.01%	1,648	$308,000	held	—	16 q
BATRAAtlanta Braves Holdings, Inc. Series A	0.01%	11,000	$230,000	held	—	18 q
BIVVanguard Intermediate-Term Bond ETF	0.01%	2,371	$222,000	held	—	16 q
AAPLApple Inc.	0.00%	560	$65,000	held	—	19 q
DDDuPont de Nemours, Inc.	0.00%	95	$5,000	held	—	2 q
HP5AEquity Commonwealth	—	−145,000	—	exited	−0.23 pp	—