Investor Summary

Brad Hinton, CFA®, serves as Executive Vice President, Co-Chief Investment Officer, and Portfolio Manager since August 2006, bringing over 30 years of investment industry experience dating back to 1990. He has been with the Large Cap Equity Fund for 19 years and became Co-Chief Investment Officer in 2017. Nathan Ritz, CFA®, joined as Portfolio Manager and Equity Analyst in August 2025, though he has been with Weitz Inc. since 2011, starting as a Research Associate and advancing to Research Analyst in 2015. The management team operates under the guidance of Weitz Investment Management, an independent, employee-owned firm established in 1983 by Wallace R. Weitz, who managed the portfolio until 2016 and established the company's enduring value-oriented investment philosophy.

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Fund Strategy

The fund employs a bottom-up fundamental research process with a private-buyer mindset, valuing businesses based on intrinsic cash flows and seeking to purchase shares at a discount to calculated intrinsic value. The management team believes the value of a business is a function of the cash flows it will generate over time and constructs a concentrated, high active share portfolio with a long-term investment horizon. Their 'Quality at a Discount' approach focuses on selecting high-quality companies with sustainable competitive advantages that are temporarily undervalued by the market, maintaining positions with a multi-year perspective and often holding concentrated positions in their best equity ideas.

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FUND PERFORMANCE AS OF 30th June 2023

ANNUALIZED SINCE INCEPTION QUARTERLY YTD
10.3% 12.3% 19.0%