A "Toolbox" View on Long/Short Equity
There is more to long/short equity than GameStop, short squeezes, and Reddit. Weitz Investment Management's Wally Weitz, CFA, is among the longest-tenured portfolio managers in the long/short equity space. He and co-PM Drew Weitz discuss how they're managing their long/short portfolio — the Weitz Partners III Opportunity Fund — where they see opportunities today, and their view on the economic recovery in 2021.
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).
As of 03/31/2021, the following portfolio companies constituted a portion of the net assets of the Partners III Opportunity Fund:
- Black Knight: 1.8%
- Dun & Bradstreet Holdings, Inc.: 1.2%
- GameStop Corp: 0.0%
- Liberty SiriusXM Group — Series A & C: 5.7%
- Sears Holdings Corp.: 0.0%
- SiriusXM Holdings, Inc.†: -0.4%
†Denotes short position