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Past performance is no guarantee of future results. 

Investors should consider carefully the investment objectives, risks, and charges and expenses of the Funds before investing. The Funds' Prospectus or Summary Prospectus contains this and other information about the Funds and should be read carefully before investing. Remember that there can be no assurance that an investment objective of any mutual fund will be achieved. Portfolio composition is subject to change at any time and references to specific securities, industries and sectors referenced in this interview are not recommendations to purchase any particular security. Current and future portfolio holdings are subject to risk. A Prospectus or Summary Prospectus and additional information are available from Weitz Funds, 1125 South 103 Street, Suite 200, Omaha, NE 68124-1071, weitzinvestments.com, 800-304-9745, 402-391-1980.

Weitz Partners Value Fund-Investor Class average annual total returns for the one, five, ten-year periods and period since inception (June 1, 1983), in each case ended December 31, 2015 were -9.25%, 9.08%, 6.02% and 12.01%, respectively.  Weitz Partners Value Fund-Institutional Class average annual total returns for the  one, five, ten-year periods and period since inception (June 1, 1983), in each case ended December 31, 2015 were -9.07%, 9.14% 6 .05% and 12.02% , respectively. Weitz Partners III Opportunity Fund-Investor Class average annual total returns for the  one, five, ten-year periods and period since inception (June 1, 1983), in each case ended December 31, 2015 were -7.56%, 8.67%, 7.01% and 12.62% , respectively.  Weitz Partners III Opportunity Fund-Institutional Class average annual total returns for the  one, five, ten-year periods and period since inception (June 1, 1983), in each case ended December 31, 2015 were -7.23%, 8.95%, 7.15% and 12.66% , respectively. Weitz Partners Value-Institutional Class shares became available for sale on July 31, 2014.  For performance prior to that date, this information includes the actual performance of the Fund’s Investor Class (and use the actual expenses of the Fund’s Investor Class), without adjustment. For any such period of time, the performance of the Fund’s Institutional Class would have been similar to the performance of the Fund’s Investor Class, because the shares of both classes are invested in the same portfolio of securities, but the classes bear different expenses.  Weitz Partners III Opportunity Fund-Investor Class shares became available for sale on August 1, 2011.  For performance prior to that date, this information includes the actual performance of the Fund’s Institutional Class (and use the actual expenses of the Fund’s Institutional Class), without adjustment. For any such period of time, the performance of the Fund’s Investor Class would have been similar to the performance of the Fund’s Institutional Class, because the shares of both classes are invested in the same portfolio of securities, but the classes bear different expenses.The returns assume reinvestment of dividends and redemption at the end of each period, and reflect the deduction of annual operating expenses, which as stated in the most recent Prospectus are 1.18%, 0.99%, 2.06, and 1.69%,  of the Partners Value Fund-Investor Class, Partners Value Fund-Institutional Class, Partners III Opportunity Fund-Investor Class and Partners III Opportunity Fund-Institutional Class net assets, respectively. The investment adviser has agreed in writing to waive its fees and reimburse certain expenses (excluding taxes, interest, brokerage costs, acquired fund fees and expenses and extraordinary expenses) to limit the total annual fund operating expenses for Partners Value-Institutional Class shares and Partners Value-Investor Class shares to 0.99% and 1.18%, respectively, of each Class’s average daily net assets through July 31, 2016. This agreement may only be terminated by the Board of Trustees of the Fund. The returns above also include fee waivers and/or expense reimbursements previously made by the Investment Adviser; total returns would have been lower had there been no such waivers or reimbursements. Current performance may be higher or lower than the performance data quoted. 

On the last business day of 1993 and 2005, the Funds succeeded to substantially all of the assets of Weitz Partners II Limited Partnership and Weitz Partners III Limited Partnership, respectively  (the "Partnerships").  The investment objectives, policies and restrictions of the Funds are materially equivalent to those of the Partnerships, and the Partnerships were managed at all times with full investment authority by the Investment Adviser.  The performance information includes performance for the Partnerships.  The Partnerships were not registered under the Investment Company Act of 1940 and, therefore, were not subject to certain investment or other restrictions or requirements imposed by the 1940 Act or the Internal Revenue Code.  If the Partnerships had been registered under the 1940 Act, the Partnership's performance might have been adversely affected.
As of December 31, 2015: Berkshire Hathaway CL B represented 5.7% and 10.7% of the Partners Value and  Partners III Opportunity Funds’ net assets, respectively. Liberty Media CL A represented 1.3% and 1.1% of the Partners Value and Partners III Opportunity Funds’ net assets, respectively. Liberty Media CL C represented 4.4% and 7.3% of the Partners Value and Partners III Opportunity Funds’ net assets, respectively. Liberty Broadband CL A represented 1.0% and 1.0% of the Partners Value and Partners III Opportunity Funds’ net assets, respectively. Liberty Broadband CL C represented 1.8% and 5.0% of the Partners Value and Partners III Opportunity Funds’ net assets, respectively. Liberty Global plc - Class C represented 6.3% and 8.1% of the Partners Value and Partners III Opportunity Funds’ net assets, respectively. Liberty Broadband CL C represented 1.8% and 5.0% of the Partners Value and Partners III Opportunity Funds’ net assets, respectively.
Weitz Funds, Weitz Investment Management, Inc. and Weitz Securities, Inc. disclaim any liability for information contained in this article and are not affiliated with Consuelo Mack WEALTHTRACK.

Weitz Securities, Inc. is the distributor of the Weitz Funds.

This information represents past performance and past performance does not guarantee future results.  The investment return and the principal value of an investment in this Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance may be higher or lower than the performance data quoted.  Year-by-year performand and performance data current to the most recent month-end may be obtained at www.weitzinvestments.com/funds_and_performance/fund_performance.fs.