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Trending ETFs

Name

As of 03/24/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$38.65

$179 M

0.04%

$0.02

1.09%

Vitals

YTD Return

-3.6%

1 yr return

-22.6%

3 Yr Avg Return

-0.1%

5 Yr Avg Return

-5.6%

Net Assets

$179 M

Holdings in Top 10

45.6%

52 WEEK LOW AND HIGH

$38.3
$38.32
$50.16

Expenses

OPERATING FEES

Expense Ratio 1.09%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/24/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$38.65

$179 M

0.04%

$0.02

1.09%

WEHIX - Profile

Distributions

  • YTD Total Return -3.6%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return -5.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.60%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Weitz Funds Hickory Fund
  • Fund Family Name
    Weitz
  • Inception Date
    Apr 01, 1993
  • Shares Outstanding
    3793789
  • Share Class
    No Load
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Wallace Weitz

Fund Description

The Fund’s investment strategy (which we call “Quality at a Discount”) is to buy above-average to highest-quality businesses, at prices that we believe are less than what the companies are worth. Under normal circumstances, the Fund will invest the majority of its assets in common stock of medium-sized companies. The Fund considers medium-sized companies to be issuers with market capitalizations less than or equal to the largest company in the Russell Midcap Index, which was $46.5 billion as of June 30, 2022. The Fund may invest in securities issued by non-U.S. companies, which may be denominated in U.S. dollars or foreign currencies. As part of the Fund’s strategy, the Fund may concentrate its investments in securities of relatively few issuers.

We assess a company’s quality based on its competitive position, return on invested capital, ability to redeploy capital, cash flow consistency, financial leverage and management team. We compare the company’s stock price to our estimate of business value, i.e., all the cash that the company will generate for its owners in the future. For each company, we look at a range of business value estimates. We then seek to buy stocks of companies that meet our quality criteria when they are priced are at a discount to our estimates of business value.

We invest with a multiple-year time horizon. We believe that purchasing stocks at prices less than our business value estimates provides opportunities for stock price appreciation, both as business values grow and as the market recognizes companies’ values. Typically, we consider selling stocks as they approach or exceed our business value estimates. We may also sell stocks for other reasons, including for the purchase of stocks that we believe offer better investment opportunities.

We do not try to “time” the market. However, if there is cash available for investment and there are not securities that meet the Fund’s investment criteria, the Fund may invest without limitation in high-quality cash and cash equivalents such as U.S. government securities or government money market fund shares. If the Fund takes such a defensive position, it may be temporarily unable to achieve its investment objective.

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WEHIX - Performance

Return Ranking - Trailing

Period WEHIX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.6% -23.9% 18.9% 66.75%
1 Yr -22.6% -42.1% 52.2% 81.64%
3 Yr -0.1%* -20.5% 174.8% 95.13%
5 Yr -5.6%* -15.6% 80.7% 84.79%
10 Yr -2.6%* -9.4% 12.9% 78.24%

* Annualized

Return Ranking - Calendar

Period WEHIX Return Category Return Low Category Return High Rank in Category (%)
2023 -30.3% -69.6% 25.3% 94.78%
2022 5.0% -25.0% 82.1% 52.90%
2021 -1.0% -24.4% 196.6% 96.08%
2020 7.5% -21.9% 8.3% 1.93%
2019 -5.1% -62.4% 18.0% 75.07%

Total Return Ranking - Trailing

Period WEHIX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.6% -23.9% 18.9% 66.59%
1 Yr -22.6% -42.1% 57.7% 81.82%
3 Yr -0.1%* -20.5% 174.8% 95.18%
5 Yr -5.6%* -15.6% 80.7% 88.83%
10 Yr -2.6%* -8.3% 12.9% 94.44%

* Annualized

Total Return Ranking - Calendar

Period WEHIX Return Category Return Low Category Return High Rank in Category (%)
2023 -30.3% -69.6% 25.3% 94.79%
2022 5.0% -25.0% 82.1% 53.02%
2021 -1.0% -24.4% 196.6% 96.09%
2020 7.5% -21.9% 8.3% 1.92%
2019 -5.1% -62.4% 19.0% 84.00%

NAV & Total Return History


WEHIX - Holdings

Concentration Analysis

WEHIX Category Low Category High WEHIX % Rank
Net Assets 179 M 481 K 145 B 64.22%
Number of Holdings 36 1 2445 86.85%
Net Assets in Top 10 88.2 M 3.49 K 10.8 B 44.13%
Weighting of Top 10 45.63% 2.8% 100.0% 10.59%

Top 10 Holdings

  1. Liberty Broadband Corp C 6.30%
  2. LICT Corp 5.70%
  3. CoStar Group Inc 5.17%
  4. AutoZone Inc 4.85%
  5. Markel Corp 4.77%
  6. Laboratory Corp of America Holdings 4.36%
  7. Liberty SiriusXM Group C 4.26%
  8. CarMax Inc 4.24%
  9. Guidewire Software Inc 4.20%
  10. GCI Liberty Inc A 4.17%

Asset Allocation

Weighting Return Low Return High WEHIX % Rank
Stocks
94.71% 0.00% 100.57% 86.85%
Cash
3.72% -2.51% 100.00% 19.01%
Preferred Stocks
1.56% 0.00% 21.68% 2.35%
Other
0.00% -1.04% 36.11% 50.47%
Convertible Bonds
0.00% 0.00% 1.78% 49.53%
Bonds
0.00% 0.00% 14.82% 50.23%

Stock Sector Breakdown

Weighting Return Low Return High WEHIX % Rank
Communication Services
29.86% 0.00% 30.98% 1.18%
Technology
16.80% 0.00% 43.45% 35.76%
Consumer Cyclical
11.69% 2.49% 61.84% 64.00%
Financial Services
11.68% 0.00% 46.10% 76.24%
Basic Materials
10.24% 0.00% 26.18% 4.47%
Industrials
9.31% 0.00% 45.89% 89.18%
Real Estate
5.64% 0.00% 25.82% 64.24%
Healthcare
4.76% 0.00% 27.70% 93.18%
Utilities
0.00% 0.00% 18.97% 88.47%
Energy
0.00% 0.00% 58.13% 91.29%
Consumer Defense
0.00% 0.00% 32.18% 97.65%

Stock Geographic Breakdown

Weighting Return Low Return High WEHIX % Rank
US
84.96% 0.00% 100.04% 90.61%
Non US
9.75% 0.00% 27.19% 8.45%

WEHIX - Expenses

Operational Fees

WEHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.09% 0.03% 8.45% 35.07%
Management Fee 0.85% 0.00% 1.67% 87.41%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.03% 0.01% 0.30% 4.17%

Sales Fees

WEHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

WEHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

WEHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 321.00% 14.13%

WEHIX - Distributions

Dividend Yield Analysis

WEHIX Category Low Category High WEHIX % Rank
Dividend Yield 0.04% 0.00% 4.15% 66.04%

Dividend Distribution Analysis

WEHIX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Semi-Annually Annually

Net Income Ratio Analysis

WEHIX Category Low Category High WEHIX % Rank
Net Income Ratio -0.60% -2.06% 3.38% 91.83%

Capital Gain Distribution Analysis

WEHIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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WEHIX - Fund Manager Analysis

Managers

Wallace Weitz


Start Date

Tenure

Tenure Rank

Jan 01, 2003

19.42

19.4%

Co-Chief Investment Officer Portfolio Manager Multi-Cap Alternative / Partners III Opportunity Fund (Since June 1983) Multi-Cap Value / Partners Value Fund (Since June 1983) Mid-Cap Value / Hickory Fund (Since January 2003) Investment industry experience since 1970 Wally Weitz founded Weitz Investment Management in 1983. Prior to launching the Firm, he was an analyst and portfolio manager at Chiles, Heider & Co. Mr. Previously, he was a security analyst at G.A. Saxon & Co. Mr. Weitz has a bachelor's in economics from Carleton College.

Andrew Weitz


Start Date

Tenure

Tenure Rank

Dec 30, 2011

10.42

10.4%

Portfolio Manager Mid-Cap Value / Hickory Fund (Since December 2011) Multi-Cap Alternative / Partners III Opportunity Fund (Since July 2020) Multi-Cap Value / Partners Value Fund (Since July 2020) Investment industry experience since 2005 Drew Weitz joined Weitz Investment Management in 2008 as a research analyst. He was promoted to portfolio manager in 2011 and was director of equity research from 2017 to 2020. Previously, Mr. Weitz was a research analyst at Ariel Investments. Mr. Weitz has a bachelor's in computer science from Carleton College.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 38.44 7.36 5.78