In a Nov. 9 SEC filing, Wallace Weitz’s Weitz Funds filed a 13F and the value guru made some changes in investments.
We like to keep an eye on Weitz and his investments. His Omaha-based firm uses common-sense strategy according to the firm’s website: own a group of strong businesses with deeply discounted stock prices.
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In business since 1983, the firm has grown, while its philosophy has not changed.
For the recent 13F filing, Weitz Funds has $2,152,841 in assets. Year-to-date, its 11 funds have positive returns and it recently announced its December 2012 estimated distributions.
After reviewing the filing, here’s a peek at the firm’s holdings and recent changes.
Weitz made a DirectTV (NASDAQ:DTV) purchase of 609,400 shares. Pressure has been rising on its rival Dish Network Corp. (NASDAQ:DISH) to combine with the company after they failed to do so 10 years ago. Discussions haven’t taken place, but both companies have faced challenges to increase in subscribers.
Year-to-date, DirectTV (NASDAQ:DTV) is up 13.53%.
Additional purchases included Liberty Interactive Corp (NASDAQ:LINTA) and 429,500 shares of Sapient Corporation (NASDAQ:SAPE). Last week Sapient reported its third quarter earnings report. Its revenue and earnings exceeded analysts’ estimates.
Year-to-date, Sapient is down 11.27%.
This quarter, 1,304,460 shares of Hewlett-Packard Company (NYSE:HPQ) have been added and current holdings are now 4,379,00 shares. On Monday, the stock hit a 52-week low of $13.48.
Year-to-date, the stock is off 47.79%.
Recent news included Hewlett’s announcement of new offerings for its Integrity servers with Intel Corporation (NASDAQ:INTC)’s new Itanium 9500 processor.
Other additions include 255,700 shares of Apache Corporation (NYSE:APA); total holdings are now 506,700 shares.
On Nov. 1, the company announced that it is still on target to deliver its fiscal 2012 production growth guidance.
Year-to-date, Apache is down 13.3%.
The firm added 1,824,900 shares of Dell Inc. (NASDAQ:DELL) to bring holdings to 5,684,252 shares. On Monday, Forbes included Dell as the #121 broker analyst pick by The Online Investor for strong stock buyback activity. A stock is a candidate if it has been repurchased at least 5% of its outstanding shares over the trailing twelve month period, reported Forbes.
Year-to-date, Dell is down 36.67%.
The firm reduced its Comcast Corporation (NASDAQ:CMCSA) position by 1,021,500 shares and it now sits at 410,640 shares.
On Nov. 5, the company went in front of the Supreme Court to appeal a Third Circuit decision that said sufficient grounds had been shown to make a “class” in the class action suit by subscribers against the company.
Year-to-date, the stock is up 52.48%.
Year-to-date, the stock is up 106.51%.
Google Inc (NASDAQ:GOOG) had been reduced by 37,107 shares, and the current position is 91,189 shares. On Monday, the company confirmed that sales of its long-awaited Nexus 4 and Nexus 10 gadgets will begin on Tuesday.
Year-to-date, the stock is up 3.45%.
The firm sold 180,000 shares of Lockheed Martin Corporation (NYSE:LMT). On Monday, Christoper Kubasik, the company’s vice chairman, president, and chief operating officer resigned after an ethics investigation confirmed that he had a “close personal relationship,” with a subordinate employee; this violates the company’s Code of Ethics and Business Conduct.
Year-to-date, the stock is up 10.74%.
The firm also sold 200,000 shares of Tree.com Inc (NASDAQ:TREE). On Nov. 5, the company increased its low end of its prior FY 2012 EBITDA Guidance, while issuing its FY 2013 guidance in line to analysts’ estimates.
Year-to-date, the stock is 184.26%.