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Trending ETFs

Name

As of 10/11/2024

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

$17.74

$230 M

1.71%

$0.30

1.02%

Vitals

YTD Return

8.1%

1 yr return

13.2%

3 Yr Avg Return

3.2%

5 Yr Avg Return

6.3%

Net Assets

$230 M

Holdings in Top 10

20.8%

52 WEEK LOW AND HIGH

$17.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.02%

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 10/11/2024

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

$17.74

$230 M

1.71%

$0.30

1.02%

WBALX - Profile

Distributions

  • YTD Total Return 8.1%
  • 3 Yr Annualized Total Return 3.2%
  • 5 Yr Annualized Total Return 6.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.31%
DIVIDENDS
  • Dividend Yield 1.7%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    Conservative Allocation Fund
  • Fund Family Name
    Weitz
  • Inception Date
    Oct 01, 2003
  • Shares Outstanding
    3837370
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Bradley Hinton

Fund Description

The Fund invests primarily in a portfolio of equity and debt securities. Under normal circumstances, the Fund will invest at least 25% of its total assets in equity securities, such as common stocks and a variety of securities convertible into common stock such as rights, warrants and convertible preferred stock. Also, under normal circumstances, the Fund will invest at least 25% of its total assets in investment-grade debt securities (we consider investment grade to mean rated at least BBB- by one or more nationally recognized credit ratings firms) such as U.S. Government securities (including agency securities, and securities issued by government-sponsored enterprises such as Fannie Mae and Freddie Mac, including their mortgage-backed securities), corporate debt securities, other mortgage-backed securities and asset-backed securities. The Fund may also invest up to 20% of its total assets in debt securities which are unrated or non-investment grade (non-investment grade securities are commonly referred to as “junk bonds”); however, U.S. Government securities, as described above, even if unrated, do not count toward this 20% limit.

The Fund may invest in the equity securities of issuers of all sizes. The Fund may invest in debt securities of all maturities. The Fund may invest in derivatives instruments, such as options, futures contracts, including interest rate futures, and options on futures. These investments will typically be made for investment purposes consistent with the Fund's investment objective and may also be used to mitigate or hedge risks within the portfolio or for the temporary investment of cash balances. These derivative instruments will count toward the Fund's “at least 25%” policy for investment grade debt securities only if the derivative instruments have economic characteristics similar to the securities included within that policy. The Fund may invest in equity or debt securities issued by non-U.S. issuers, which securities 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.

The Fund’s investment strategy for equity securities (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. 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.

The Fund’s investment strategy with respect to debt securities is to select debt securities whose yield is sufficiently attractive in view of the risks of ownership. We consider a number of factors such as the security’s price, coupon and yield-to-maturity, as well as the credit quality of the issuer in deciding whether to invest in a particular debt security. In addition, we review the terms of the debt security, including subordination, default, sinking fund and early redemption provisions.

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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WBALX - Performance

Return Ranking - Trailing

Period WBALX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.1% -2.9% 16.9% 71.77%
1 Yr 13.2% 1.0% 30.5% 93.78%
3 Yr 3.2%* -15.1% 5.5% 14.84%
5 Yr 6.3%* -5.4% 8.5% 10.29%
10 Yr 6.2%* -0.2% 7.9% 6.62%

* Annualized

Return Ranking - Calendar

Period WBALX Return Category Return Low Category Return High Rank in Category (%)
2023 8.0% -1.0% 27.4% 20.62%
2022 -11.6% -35.0% -7.4% 3.88%
2021 10.2% -11.5% 14.6% 2.49%
2020 6.9% -10.3% 40.7% 20.00%
2019 15.7% -9.5% 22.1% 0.81%

Total Return Ranking - Trailing

Period WBALX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.1% -2.9% 16.9% 71.77%
1 Yr 13.2% 1.0% 30.5% 93.78%
3 Yr 3.2%* -15.1% 5.5% 14.84%
5 Yr 6.3%* -5.4% 8.5% 10.29%
10 Yr 6.2%* -0.2% 7.9% 6.62%

* Annualized

Total Return Ranking - Calendar

Period WBALX Return Category Return Low Category Return High Rank in Category (%)
2023 10.3% 2.6% 28.2% 48.68%
2022 -9.9% -35.0% -3.1% 20.87%
2021 12.9% -11.5% 32.0% 7.71%
2020 8.1% -5.4% 40.7% 60.26%
2019 17.9% 4.5% 27.7% 11.92%

NAV & Total Return History


WBALX - Holdings

Concentration Analysis

WBALX Category Low Category High WBALX % Rank
Net Assets 230 M 291 K 50.8 B 75.12%
Number of Holdings 209 2 4065 31.82%
Net Assets in Top 10 48.6 M 284 K 10.3 B 87.32%
Weighting of Top 10 20.77% 9.7% 111.4% 85.65%

Top 10 Holdings

  1. JPMORGAN US GOVT MMKT L 2.52%
  2. BERKSHIRE HATHAWAY INC CLASS B 2.35%
  3. DANAHER CORP 2.24%
  4. AON PLC 2.10%
  5. THERMO FISHER SCIENTIFIC INC 2.07%
  6. MATERCARD INC CLASS A 1.98%
  7. ANALOG DEVICES INC 1.95%
  8. VISA INC CLASS A 1.91%
  9. ACCENTURE PLC 1.85%
  10. VULCAN MATERIALS CO 1.81%

Asset Allocation

Weighting Return Low Return High WBALX % Rank
Bonds
53.66% 0.00% 79.74% 15.55%
Stocks
42.30% 0.00% 100.08% 75.84%
Cash
2.74% -35.68% 25.19% 37.80%
Convertible Bonds
0.95% 0.00% 71.77% 47.10%
Preferred Stocks
0.00% 0.00% 21.95% 98.09%
Other
0.00% -0.45% 61.72% 91.87%

Stock Sector Breakdown

Weighting Return Low Return High WBALX % Rank
Financial Services
30.67% 0.00% 83.50% 0.73%
Technology
21.05% 0.22% 27.92% 18.00%
Healthcare
13.48% 0.00% 24.25% 40.63%
Communication Services
10.93% 0.00% 11.11% 1.22%
Basic Materials
10.30% 0.00% 32.82% 4.87%
Industrials
7.39% 0.14% 17.90% 91.24%
Consumer Cyclical
2.82% 0.00% 14.20% 92.94%
Consumer Defense
2.15% 0.00% 18.62% 98.05%
Real Estate
1.21% 0.00% 43.16% 96.84%
Utilities
0.00% 0.00% 48.33% 100.00%
Energy
0.00% 0.00% 62.93% 100.00%

Stock Geographic Breakdown

Weighting Return Low Return High WBALX % Rank
US
42.30% 0.00% 100.08% 69.38%
Non US
0.00% 0.00% 23.24% 98.09%

Bond Sector Breakdown

Weighting Return Low Return High WBALX % Rank
Government
51.78% 0.00% 63.33% 7.97%
Securitized
21.67% 0.00% 52.08% 28.74%
Corporate
6.42% 0.00% 96.66% 95.65%
Cash & Equivalents
2.52% 0.00% 25.19% 35.89%
Derivative
0.00% -0.45% 61.72% 85.41%
Municipal
0.00% 0.00% 99.85% 99.03%

Bond Geographic Breakdown

Weighting Return Low Return High WBALX % Rank
US
53.66% 0.00% 79.74% 11.00%
Non US
0.00% 0.00% 7.66% 98.09%

WBALX - Expenses

Operational Fees

WBALX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.02% 0.06% 21.26% 42.58%
Management Fee 0.60% 0.00% 1.25% 90.89%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.03% 0.01% 0.70% 10.48%

Sales Fees

WBALX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

WBALX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

WBALX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 2.00% 380.00% 43.36%

WBALX - Distributions

Dividend Yield Analysis

WBALX Category Low Category High WBALX % Rank
Dividend Yield 1.71% 0.00% 7.99% 86.84%

Dividend Distribution Analysis

WBALX Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual Annual Monthly Annual

Net Income Ratio Analysis

WBALX Category Low Category High WBALX % Rank
Net Income Ratio 0.31% -1.22% 6.83% 97.33%

Capital Gain Distribution Analysis

WBALX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Semi-Annually

Distributions History

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WBALX - Fund Manager Analysis

Managers

Bradley Hinton


Start Date

Tenure

Tenure Rank

Oct 01, 2003

18.68

18.7%

Co-Chief Investment Officer Portfolio Manager Conservative Allocation / Balanced Fund (Since October 2003) Multi-Cap Value / Partners Value Fund (Since August 2006) Large-Cap Value / Value Fund (Since August 2006) Investment industry experience since 1990 Brad Hinton joined Weitz Investment Management in 2001 as a research analyst. Mr. Hinton was promoted to portfolio manager in 2003, director of research in 2004 and co-CIO in 2017. Previously, he was a debt manager and trading associate for ConAgra Foods. Mr. Hinton has a bachelor's in finance from the University of Nebraska-Lincoln and an MBA from Dartmouth.

Nolan Anderson


Start Date

Tenure

Tenure Rank

Jul 31, 2021

0.83

0.8%

Portfolio Manager Conservative Allocation / Balanced Fund (Since July 2021) Core Plus Income / Core Plus Income Fund (Since July 2014) Short Duration Income / Short Duration Income Fund (Since July 2017) Ultra Short Government Fund (Since December 2016) Investment industry experience since 2004 Nolan Anderson joined Weitz Investment Management in 2011 as a fixed income research analyst. In 2014, he was promoted to portfolio manager. Previously, Mr. Anderson performed financial modeling and due diligence on leveraged buyout transactions for Wells Fargo Bank. Mr. Anderson has a bachelor’s in real estate and land use economics and an MBA from the University of Nebraska Omaha.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 28.73 6.35 2.41