The Other ‘Oracle of Omaha’ Sees Select ‘Qualty’ Stocks as the ‘Cheapest’ (GOOG, DELL, MSFT, TXN, AON, MLM, TYC, BRK.A, WPVLX, WEHIX, WRESX, BRK.B)
There must be something in the water in Omaha, Nebraska. While Warren Buffett is the best-known investor from the midwest town, his fellow Omahan and friend, Wallace Weitz, has wielded a remarkably similar value-oriented strategy that places a high value on patience and a long-term outlook.
But, while Buffett has largely stuck with the big, “boring” names that her his old standbys, Weitz has been putting money into some well-known tech names in recent quarters. In his most recent letter to shareholders, Weitz wrote “some of the cheapest stocks available in today’s market appear to be those of very large, high-quality companies.”
Investors can look at Weitz’s newly disclosed, top-15, U.S.-listed, end-of-Q1 holdings, to get some insight into what these companies might be.
During Q1, Weitz added to stakes in some of the tech names that have been in his portfolio of late, including Google (GOOG), Dell (DELL), and Microsoft (MSFT), where Weitz said he “remain[s] optimistic.” He was trimming his stake in Texas Instruments (TXN).
Weitz also held a sizable position in his neighbor’s firm Berkshire Hathaway (BRK.A, BRK.B), which he was touting in early 2010, but where he has since taken profits following the stock’s strong rebound.
Weitz’s funds, including the Weitz Partners Value Fund (WPVLX) and Weitz Hickory Fund (WEHIX), are doing well in 2011, with the former up 8% this year and the latter up 10%. Weitz also recently launched a new fund, Weitz Research Fund (WRESX), which is managed by the Weitz research analyst team, “with each analyst responsible for selecting investments within their assigned portion of the portfolio.”
Looking at tickerspy.com’s graph charting the recent performance of Weitz’s top holdings, one can see that they are ahead of the market. If you want to see how your performance stacks up to Weitz’s or just see some of his other holdings, visit tickerspy.com to see his top holdings and a chart of their combined performance.
Pro portfolio performance is based on institutions’ top-15 holdings as disclosed in quarter-end filings with the SEC. Pro performance does not take into account additional holdings beyond the top 15 nor does it include positions that are not required to be disclosed by the SEC. As such, Pro portfolio performance should be considered an approximation and not a precise record of how an institution has performed over time.
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