Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
Buyside Digest is not affiliated with, and does not endorse, Weitz Multi Cap Equity Fund. This analysis is provided for institutional research purposes only and is not investment advice.
"The fund underperformed significantly in 2025 but sees a turning point ahead as CapEx cycles peak for core holdings. Active adjustments included exiting weak setups like CarMax and initiating exposure to CDW."
In 4Q 2025, Weitz Multi Cap Equity Fund (Institutional Class) returned -1.48%, trailing the Bloomberg U.S. 3000 Index's return of +2.39%. For the full year, the fund returned +3.22% compared to +17.21% for the index. Key quarterly contributors included Alphabet (Gemini AI strength), Perimeter Solutions, and several life sciences holdings. Detractors included Liberty Broadband, CoStar, and Meta. Major portfolio adjustments featured the complete liquidation of CarMax due to poor execution and structural challenges, the sale of Comcast, the tactical tax-loss harvesting of Charter Communications into Liberty Broadband, and initiating a position in CDW.
Sign in or create a free account to unlock full commentary, extracted equity pitches, and direct outbound manager source links with your 3 quarterly credits.
Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: The fund underperformed significantly in 2025 but sees a turning point ahead as CapEx cycles peak for core holdings. Active adjustments included exiting weak setups like CarMax and...
Growth Outlook
Market outlook remains above average conviction: The fund underperformed significantly in 2025 but sees a turning point ahead as CapEx cycles peak for core holdings. Active adjustments included exiting weak setups like CarMax and...
Risk Appetite
Risk appetite posture is moderate conviction: The fund underperformed significantly in 2025 but sees a turning point ahead as CapEx cycles peak for core holdings. Active adjustments included exiting weak setups like CarMax and...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. The fund underperformed significantly in 2025 but sees a turning point ahead as CapEx cycles peak for core holdings. Active adjustments included exiting weak setups like CarMax and...
Forward Guidance
Forward guidance signal: The fund underperformed significantly in 2025 but sees a turning point ahead as CapEx cycles peak for core holdings. Active adjustments included exiting weak setups like CarMax and...
Language Signal
Tone analysis indicates moderate conviction language: The fund underperformed significantly in 2025 but sees a turning point ahead as CapEx cycles peak for core holdings. Active adjustments included exiting weak setups like CarMax and...
Perceived Risk
Perceived risk level is evaluated as above average conviction. The fund underperformed significantly in 2025 but sees a turning point ahead as CapEx cycles peak for core holdings. Active adjustments included exiting weak setups like CarMax and...
Opportunity Density
Opportunity density index indicates above average conviction actionable entry points. The fund underperformed significantly in 2025 but sees a turning point ahead as CapEx cycles peak for core holdings. Active adjustments included exiting weak setups like CarMax and...
Time Horizon
Investment time horizon reflects a high conviction orientation. The fund underperformed significantly in 2025 but sees a turning point ahead as CapEx cycles peak for core holdings. Active adjustments included exiting weak setups like CarMax and...
