July 27, 2023 Three Weitz Funds Renamed Effective July 31, 2023, the following Weitz Funds have changed names: Weitz Value Fund → Weitz Large Cap Equity Fund Weitz Partners Value Fund → Weitz Multi Cap Equity Fund Weitz Balanced Fund → Weitz Conservative Allocation Fund Importantly, there has been no change to the investment strategy or management of these funds. As always, we believe successful investing is driven by our ability to identify well-run companies with strong long-term prospects and then to have the discipline and patience to buy them at a discount to our estimate of intrinsic value. And across more than four decades, we have been proud to be known as “value investors,” an investing strategy made famous by some of the world's greatest investors, including Benjamin Graham, Warren Buffett and Charlie Munger. Why change the funds' names? Like many other mutual funds, our inclusion of the term value in the funds' names is intended to convey our investment strategy rather than to describe the individual stocks within the portfolio. Last year the Securities and Exchange Commission (SEC) proposed an amendment to its rule related to fund names that, if approved, may require funds that use the terms “value” or “growth” in their name to invest at least 80% of their assets in stocks statistically identified as either value or growth stocks. For instance, a stock can be classified as “growth” or “value” based on certain characteristics such as its price-to-earnings (P/E) and price-to-book (P/B) ratios. And while we recognize the relevance of these data points, categorizing a company by this limited definition does not play a role in our investment process. Though the rule change is not yet effective and may or may not come to pass, upon reflection we believe these updated names better serve shareholders by providing greater transparency into the Funds' universe of investments. Regarding the Balanced Fund, while the name change rule is not likely to have any effect on this fund, the sentiment of clarity applies here as well. The term balanced is broadly applied to funds that allocate assets among stocks and bonds. However, “balance” may also imply equivalency. Under normal market conditions, our fund has historically held a larger percentage in bonds and cash than stocks. Seeking to clarify that, we have adopted the name Conservative Allocation Fund. We understand that these name changes, especially for our long-time shareholders and clients, may take some getting used to and we appreciate your patience and understanding. Should you have any questions or concerns, please contact us at (888) 859-0698 or email@example.com. And, as always, we thank you for entrusting your investment capital to us.