Drew Weitz and Barton Hooper Appear on The Investor‘s Podcast Network
Portfolio manager Drew Weitz and director of equity research Barton Hooper, CFA, recently sat down with the Clay Finck of the Millennial Investing by The Investor's Podcast Network for an in-depth discussion on our Quality at a Discount investing approach and how we put it into action. Drew and Barton dig into the value of quality investing, the factors we use to identify above-average to excellent businesses, and our take on specific businesses that fit into our “QuaD” framework.
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 as of 08/18/2022, 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.
Past
performance is not a guarantee of future results.
Holdings
are subject to change and may not be representative of a Fund's current or
future investments.
As of
06/30/2022, the following portfolio company constituted a portion of the net
assets of Balanced Fund, Hickory Fund, Partners III Opportunity Fund, Partners
Value Fund, and Value Fund as follows:
• Accenture
plc: 1.1%, 0.0%, 0.0%, 0.0%, and 2.8%;
• Alphabet,
Inc.: 1.9%, 0.0%, 6.7%, 7.3%, and 7.5%;
• Amazon.com,
Inc.: 0.0%, 0.0%, 4.3%, 0.0%, and 2.7%;
• Berkshire
Hathaway, Inc.: 2.1%, 0.0%, 9.7%, 6.6%, and 4.0%;
• Danaher
Corporation: 2.1%, 0.0%, 2.0%, 2.6%, and 4.7%;
• Charter
Communications, Inc.: 0.0%, 0.0%, 0.0%, 0.0%, and 0.0%;
• GameStop
Corp.: 0.0%, 0.0%, 0.0%, 0.0%, and 0.0%;
• International
Business Machines Corporation: 0.0%, 0.0%, 0.0%, 0.0%, and 0.0%;
• Invesco
QQQ Trust: 0.0%, 0.0%, 0.0%, 0.0%, and 0.0%;
• Liberty
Broadband Corp.: 1.3%, 9.1%, 6.6%, 4.7%, and 4.4%;
• Liberty
Sirius XM Group: 0.0%,5.7%, 5.1%, 4.9%, and 2.9%;
• LinkedIn
Corporation: 0.0%, 0.0%, 0.0%, 0.0%, and 0.0%;
• Meta
Platforms, Inc.: 0.0%, 0.0%, 4.9%, 2.7%, and 4.1%;
• Microsoft
Corporation: 2.3%, 0.0%, 0.0%, 0.0%, and 0.0%;
• Oracle
Corporation: 1.1%, 0.0%, 0.0%, 0.0%, and 2.9%;
• Salesforce,
Inc.: 0.0%, 0.0%, 0.0%, 0.0%, and 2.7%;
• SAP
SE: 0.0%, 0.0%, 0.0%, 0.0%, and 0.0%;
• SPDR®
S&P 500® ETF Trust: 0.0%, 0.0%, -3.1% (short position), 0.0%, and 0.0%;
• Sirius
XM Holdings, Inc.: 0.0%, 0.0%, 0.0%, 0.0%, and 0.0%;
• Twitter,
Inc.: 0.0%, 0.0%, 0.0%, 0.0%, and 0.0%.
Included is a reference to the term “margin of safety." This term
refers to purchasing securities at a price that is less than our estimate of
intrinsic value. A potential “margin of safety” may limit downside risk and
optimize the potential for growth.
Consider
these risks before investing: All investments involve
risks, including possible loss of principal. Market risk includes political,
regulatory, economic, social and health risks (including the risks presented by
the spread of infectious diseases). Changing interest rates may have sudden and
unpredictable effects in the markets and on the Fund's investments.
The Fund may purchase lower-rated and unrated fixed-income securities, which
involve an increased possibility that the issuers of these may not be able to
make payments of interest and principal. See the Fund's prospectus for a
further discussion of risks.