Insight into the Latest 13F Filing for Q3 2024
Wallace Weitz (Trades, Portfolio), a seasoned portfolio manager renowned for his nuanced approach to value investing, recently disclosed his third-quarter portfolio adjustments for 2024. Weitz, who founded Weitz Value Fund, Weitz Hickory Fund, and Weitz Partners Value Fund in 1983, integrates the principles of Benjamin Graham with a focus on qualitative factors that influence a company's long-term success. This blend of strategies emphasizes both a margin of safety and the potential for companies to shape their own futures.
Summary of New Buys
Wallace Weitz (Trades, Portfolio) introduced a new position in the portfolio by purchasing shares in the following company:
- Sirius XM Holdings Inc (SIRI, Financial) was a notable addition with 1,261,999 shares, representing 1.47% of the portfolio and valued at approximately $29.85 million.
Key Position Increases
The quarter also saw Weitz increasing his stakes in several companies:
- IDEX Corp (IEX, Financial) saw an addition of 45,250 shares, bringing the total to 282,650 shares. This adjustment increased the share count by 19.06% and had a 0.48% impact on the portfolio, with a total value of $60.63 million.
- Global Payments Inc (GPN, Financial) was augmented by 80,400 shares, resulting in a total of 610,000 shares. This represents a 15.18% increase in share count, with a total value of $62.48 million.
Summary of Sold Out Positions
Weitz exited several positions entirely during this quarter:
- Liberty SiriusXM Group (LSXMK, Financial) was completely sold off with 1,088,000 shares, impacting the portfolio by -1.27%.
- Liberty SiriusXM Group (LSXMA, Financial) also saw a complete exit with 310,000 shares, causing a -0.36% portfolio impact.
Key Position Reductions
Reductions were made in several holdings, with significant changes in the following:
- Meta Platforms Inc (META, Financial) was reduced by 21,575 shares, a -11.43% decrease, impacting the portfolio by -0.57%. The stock traded at an average price of $514.55 during the quarter and has seen a 13.73% return over the past three months and a 66.12% year-to-date return.
- Perimeter Solutions SA (PRM, Financial) saw a reduction of 1,260,500 shares, a -35.16% decrease, impacting the portfolio by -0.52%. The stock's average trading price was $10.36 during the quarter, with a 21.48% return over the past three months and a 171.74% year-to-date return.
Portfolio Overview
As of the third quarter of 2024, Wallace Weitz (Trades, Portfolio)'s portfolio comprised 49 stocks. The top holdings included 7.35% in Berkshire Hathaway Inc (BRK.B, Financial), 4.96% in Mastercard Inc (MA, Financial), 4.88% in Visa Inc (V, Financial), 4.82% in Danaher Corp (DHR, Financial), and 4.73% in Meta Platforms Inc (META). The investments are predominantly 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.
