November 3, 2020 Weitz 2020 Annual Shareholder Meeting Wally Weitz, CFA Co-Chairman of the Board, Co-Chief Investment Officer, Portfolio Manager × x Wally Weitz, CFA Co-Chairman of the Board, Co-Chief Investment Officer, Portfolio Manager Partners III Opportunity Fund (Since June 1983) Multi Cap Equity Fund (Since June 1983) Investment industry experience since 1970 Wally founded Weitz Investment Management in 1983. Prior to starting the firm, he worked as an analyst and portfolio manager at Chiles, Heider & Co. Previously, he was a security analyst at G.A. Saxon & Co. Wally has a bachelor's in economics from Carleton College. Close Brad Hinton, CFA Executive Vice President, Co-Chief Investment Officer, Portfolio Manager × x Brad Hinton, CFA Executive Vice President, Co-Chief Investment Officer, Portfolio Manager Conservative Allocation Fund (Since October 2003) Multi Cap Equity Fund (Since August 2006) Large Cap Equity Fund (Since August 2006) Investment industry experience since 1990 Brad joined Weitz Investment Management in 2001 as a research analyst. He was promoted to portfolio manager in 2003, director of research in 2004 and co-CIO in 2017. Prior to joining the firm, Brad was a debt manager and trading associate for ConAgra Foods. Previously, he was a fixed income investment manager for Principal Financial Group. Brad has a bachelor's in finance from the University of Nebraska-Lincoln and an MBA from Dartmouth. Close Tom Carney, CFA Vice President, Co-Head of Fixed Income, Portfolio Manager × x Tom Carney, CFA Vice President, Co-Head of Fixed Income, Portfolio Manager Core Plus Income Fund (Since July 2014) Nebraska Tax-Free Income Fund (Since January 1996) Short Duration Income Fund (Since January 1996) Ultra Short Government Fund (Since January 1996) Investment industry experience since 1982 Tom joined Weitz Investment Management in 1995 as an equity trader. He was promoted to co-portfolio manager in 1996 and to portfolio manager in 1999. Prior to joining the firm, Tom held several positions at Chiles, Heider & Co., Inc. Previously, he was a municipal securities professional with Smith Barney. Tom has a bachelor's in finance from the University of Nebraska Omaha. Close In the 2020 Weitz Annual Shareholder Meeting, co-CIOs Wally Weitz and Brad Hinton along with director of fixed income research Tom Carney gave an in-depth review of our recent performance, our views on the markets, and an update on our funds and our team. The discussion was followed by a question-and-answer session featuring the Weitz investment team, which begins at the 39:16 mark. For any additional questions, feel free to contact our client services team at email@example.com or 888-859-0698. For your convenience, Weitz Fund's performance for 12/31/19 and 09/30/20 are available through the links below. Please refer to these documents as needed for fund performance and related information. 12.31.19 Weitz Fund Performance 09.30.20 Weitz Fund Performance The opinions expressed are those of Weitz Investment Management and are not meant as investment advice or to predict or project the future performance of any investment product. The opinions are current through the date of publication, are subject to change at any time based on market and other current conditions, and no forecasts can be guaranteed. This commentary is being provided as a general source of information and is not intended as a recommendation to purchase, sell, or hold any specific security or to engage in any investment strategy. Investment decisions should always be made based on an investor's specific objectives, financial needs, risk tolerance and time horizon. Holdings are subject to change and may not be representative of a Fund's current or future investments. Past performance is not a guarantee of future results. Consider these risks before investing: All investments involve risks, including possible loss of principal. The Weitz equity funds may invest in undervalued securities, which by definition are out of favor with investors, and there is no way to predict when, if ever, such securities may return to favor. Because the Fund(s) may have a more concentrated portfolio than certain other mutual funds, the performance of each holding in the Fund(s) has a greater impact upon the overall portfolio, which increases risk. See the Fund's prospectus for a further discussion of risks related to the Fund(s).