Weitz Inc., founded in 1983 under the laws of the State of Nebraska, is primarily owned
by Andrew S. Weitz. Weitz Inc. provides investment management services on a discretionary
basis to eight Funds and to a number of separate accounts
separate accounts
(A) registered investment companies, other than the Funds, that are sponsored by unaffiliated third
parties1 and/or (B) accounts that come to Weitz wrap accounts
investment programs sponsored by unaffiliated third parties. The holders of separate accounts,
which may include separate clients As the case may be, the Funds
accountsclientsyou
(i) registration statement separate account
investment agreement
investment needs and objectives.
In previous years, Weitz has (and in the future, Weitz may) provide investment
Private
Fund
Advisory Services provided to the Funds
Weitz Inc. provides investment advisory services to the following Funds: Conservative
Allocation Fund, Core Plus Income Fund, Large Cap Equity Fund, Multi Cap Equity Fund,
Nebraska Tax Free Income Fund, Partners III Opportunity Fund, Short Duration Income Fund and
Ultra Short Government Fund. Each Fund is a series of The Weitz Funds , a Delaware statutory
trust Trust . Weitz Inc. is also the administrator for the Funds. Weitz Securities, Inc., an
affiliate of the firm, is the distributor of The Weitz Funds. For the reasons set forth in this
paragraph, the Funds are not independent from Weitz Inc.
Details regarding the services provided to the Funds, and otherwise regarding
arrangements with the Funds, are set forth in the registration statement.
The firm may recommend the Funds as an investment option for separate clients. The firm
has an incentive and inherent conflict of interest to recommend and favor the Funds because the
firm receives fees from the Funds. These fees are described in Item 5 below and are detailed in
the registration statement. Increases in assets in the Funds will result in increases in the fees paid
to the firm.
Each Fund is managed only in accordance with its own characteristics and is not tailored
investor
individualized advice to the investors (and an investment in a Fund does not, in and of itself, create
an advisory relationship between the investor and Weitz Inc.), investors must consider whether a
particular Fund meets their investment objectives and risk tolerance prior to investing. While this
1 In this arrangement, Weitz primary investment adviser and
Weitz Inc. would serve as a sub-adviser to the mutual fund.
4895-2182-9801, v. 1 5
Brochure may be provided to investors, and may include information about the Funds, this
Brochure is intended solely to provide information about Weitz Inc. and should not be considered
to be an offer of interests in any Fund. Information about a Fund can be found in the registration
statement.
Advisory Services provided to separate clients
For separate clients, Weitz Inc. offers asset management services that consist of continuous
and ongoing supervision over specified account(s). Each separate client enters into a written
investment agreement to appoint Weitz Inc. as the investment adviser with respect to an account.
custodian maintains custody of all funds and securities in the account, and the client retains all
rights of ownership (e.g., the right to withdraw securities or cash, and the right to exercise or
delegate proxy voting).
Each account shall be invested as set forth in its investment agreement. Weitz Inc. offers
strategyinvestment strategy :
Conservative Allocation, Core Plus Income, Large Cap Equity, Moderate Allocation, Multi Cap
Alternative, Multi Cap Equity and Short Duration Income. Each strategy is also offered with a
cash constrainedunder
which the Adviser agrees to cap the maximum percentage of
cash in the account, as may be set forth in the investment agreement. In some cases, an investment
agreement may authorize Weitz Inc. to recommend that an account be invested in one or more of
the Funds.2
For each separate client, Weitz Inc. will need to obtain information from you to determine
your risk tolerance and your investment objectives, to make sure that the strategy you have chosen
is suitable for you. You will need to share with us information regarding your financial
circumstances, including financial needs, income level, investments outside the account,
outstanding obligations and tax status. You will be responsible for notifying us of any updates
regarding these items or regarding your risk tolerance or investment objectives; however, we will
contact you at least annually to discuss any changes or updates regarding you or your account.
The investment recommendations and any decisions of Weitz Inc. with respect to each
strategy and account are subject to various market, currency, economic, political and business risks,
and will not necessarily be profitable. Weitz Inc. cannot guarantee the future performance of any
strategy or account, promise any specific level of performance or promise that
investment decisions or the overall management of any strategy or account will be successful. You
should also note that asset withdrawals or client investment restrictions may impair achievement
of investment objectives. You should understand that Weitz Inc. manages investments for a
number of clients, and Weitz Inc. may give advice or take actions for some clients that is different
from the advice provided or actions taken for you. Weitz Inc. is not obligated to buy, sell or
recommend to you any security or investment that we may buy, sell or recommend for any other
client or for our own accounts. Neither the firm nor any of its officers, directors or employees
make any representations or warranties, express or implied, that any level of performance or
2 In rare cases, an investment agreement may authorize Weitz Inc. to recommend that an account be invested in mutual
funds that are unaffiliated with the Adviser.
4895-2182-9801, v. 1 6
investment results will be achieved by any strategy or account, or that any strategy or account will
perform comparably with any standard or index, including any other strategies or clients of the
firm, and including clients whose accounts may be invested in the same strategy as you.
Weitz Inc.
other assets the client might hold, and Weitz Inc.
diversification is to invest the assets held in the account in accordance with the strategy set forth
in the investment agreement.
Each investment agreement will also identify any investment restrictions that the client
may impose with respect to the account. Weitz Inc. will not enter into an investment agreement if
a prospective client seeks to impose unduly restrictive investment restrictions.
* * *
We offer investment advice on a wide range of investment products and are not limited to
particular types of investments.
It is not our typical investment approach to attempt to time the market, but we may increase
investment strategy. Further, for each investment strategy, we may modify our advice or actions
to accommodate special situations.
Weitz Inc. manages accounts (including the Funds and certain separate accounts) on a
discretionary basis, and as of February 29, 2024 those accounts had a total of $4,837,016,311 in
assets. Weitz Inc. manages other accounts on a non-discretionary basis, and as of February 29,
2024 those accounts had a total of $316,798,512 in assets.