Insight into the Latest 13F Filings and Portfolio Adjustments
Wallace Weitz (Trades, Portfolio), a seasoned portfolio manager renowned for his nuanced approach to value investing, recently disclosed his Q2 2024 portfolio adjustments through the latest 13F filing. Weitz, who founded Weitz Value Fund, Weitz Hickory Fund, and Weitz Partners Value Fund in 1983, integrates the principles of Graham's investment philosophy with a focus on qualitative factors that influence a company's long-term success.
Summary of New Buys
Wallace Weitz (Trades, Portfolio) introduced two new stocks to his portfolio this quarter:
- Old Dominion Freight Line Inc (ODFL, Financial) was the standout addition with 209,900 shares, making up 1.96% of the portfolio, valued at $37.07 million.
- Bio-Techne Corp (TECH, Financial) also made the list with 44,100 shares, accounting for about 0.17% of the portfolio, totaling $3.16 million.
Key Position Increases
Significant increases were made in several existing positions:
- IDEX Corp (IEX, Financial) saw an addition of 170,500 shares, a 254.86% increase, impacting the portfolio by 1.81% with a total value of $47.76 million.
- Aon PLC (AON, Financial) was also boosted by 102,650 shares, a 64.85% increase, bringing the total investment to $76.61 million.
Summary of Sold Out Positions
This quarter, Wallace Weitz (Trades, Portfolio) exited several positions:
- Live Nation Entertainment Inc (LYV, Financial) was completely sold off with 61,000 shares, impacting the portfolio by -0.33%.
- JPMorgan Chase & Co (JPM, Financial) was also liquidated with 20,500 shares, causing a -0.21% portfolio impact.
Key Position Reductions
Reductions were noted in several key holdings:
- Alphabet Inc (GOOG, Financial) was reduced by 139,125 shares, a -18.35% decrease, impacting the portfolio by -1.08%. The stock's performance over the past three months was -5.65% and 15.10% year-to-date.
- Liberty SiriusXM Group (LSXMK, Financial) saw a reduction of 660,000 shares, a -37.76% decrease, impacting the portfolio by -1%. The stock's performance over the past three months was -15.94% and -25.99% year-to-date.
Portfolio Overview
As of the second quarter of 2024, Wallace Weitz (Trades, Portfolio)'s portfolio comprised 51 stocks. The top holdings included 6.94% in Berkshire Hathaway Inc (BRK.B, Financial), 6% in Alphabet Inc (GOOG), 5.03% in Meta Platforms Inc (META, Financial), 4.98% in Visa Inc (V, Financial), and 4.74% in Mastercard Inc (MA, Financial). The portfolio is primarily concentrated across nine industries: Financial Services, Technology, Communication Services, Industrials, Healthcare, Consumer Cyclical, Basic Materials, Real Estate, and Consumer Defensive.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
