Weitz Hickory Fund (WEHIX) to Merge into Weitz Partners Value Fund (WPVLX)

The Board of Trustees of The Weitz Funds (the “Trust”) recently approved an Agreement and Plan of Reorganization relating to the Hickory Fund, a series of the Trust (the “Acquired Fund”). Under the Agreement and Plan of Reorganization, the Acquired Fund would be combined with the Partners Value Fund (the “Acquiring Fund”), another series of the Trust, in a tax-free reorganization (the “Reorganization”).

The Board unanimously approved the Reorganization of the Acquired Fund into the Acquiring Fund after considering the recommendation of Weitz Investment Management, Inc., the investment adviser to both Funds, and concluding that the Reorganization would be in the best interests of the Acquired Fund and the Acquiring Fund and their shareholders and that the interests of the Funds and their shareholders would not be diluted as a result of the Reorganization. The Reorganization is expected to occur on or about March 24, 2023. Upon completion of the Reorganization, a shareholder of the acquired Fund will become a shareholder of the Acquiring Fund, and they will receive shares of the Acquiring Fund equal in value to shares of the Acquired Fund on the closing date of the transaction. The Reorganization is expected to be tax-free to shareholders for Federal income tax purposes, and no commission, redemption fee or other transactional fee will be charged as a result of the Reorganization.

Shareholders are not being asked to vote on this action, as the Reorganization does not require shareholder approval. However, shareholders are encouraged review the Information Statement/Prospectus, which contains important information about each of the Funds.

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