Fund Evaluator:

Weitz Partners III Opportunity Investor Overview

Weitz Partners III Opportunity Investor (WPOIX) is an actively managed Nontraditional Equity Long-Short Equity fund. Weitz launched the fund in 2011.

The investment seeks capital appreciation. The fund’s investment strategy is to buy above-average to highest-quality businesses, at prices that the advisor believes are less than what the companies are worth. The fund is a "multi-cap" fund and may invest in securities of any market capitalization. It invests in long positions in stocks and other securities, when the managers anticipate that the value of such securities will increase. The fund also invests in short positions in stocks and other securities, including short sales of exchange traded funds, when the managers anticipate a decline in the value of such securities.

About Weitz Partners III Opportunity Investor (WPOIX)

There are 2 members of the management team with an average tenure of 13.30 years: Andrew Weitz (2020), Wallace Weitz (2005). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: Bloomberg 3000 TR USD index with a weighting of 100%. Weitz Partners III Opportunity Investor has 26 securities in its portfolio. The top 10 holdings constitute 62.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Weitz Partners III Opportunity Investor is part of the Equity global asset class and is within the Nontraditional Equity fund group. Weitz Partners III Opportunity Investor has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.8%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Weitz Partners III Opportunity Investor has 7.2% of the portfolio in cash.

Assets Under Management

The fund has $8 million in total assets, which is below the $352 million average for the Long-Short Equity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

WPOIX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Weitz Partners III Opportunity Investor expense ratio is high compared to funds in the Long-Short Equity category. Weitz Partners III Opportunity Investor has an expense ratio of 1.93%, which is 12% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Weitz Partners III Opportunity Investor has a portfolio turnover rate of 18%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 287% for the Long-Short Equity category.

Recently, in the month of July 2026, Weitz Partners III Opportunity Investor returned 4.9%, which earned it a grade of B, as the Long-Short Equity category had an average return of 2.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Weitz Partners III Opportunity Investor has a trailing yield of 0.00%, which is below the 1.15% category average. The fund normally distributes its income annually and its capital gains semi-annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Weitz Partners III Opportunity Investor Grades

Year to date, the fund has returned 3.9%, 3.6 percentage points worse than the category, which translates into a grade of F. The fund has returned 6.6% over the past year (grade of F), 7.8% over the past three years (grade of D) and 1.8% per year over the past five years (grade of F) and 6.0% per year over the past 10 years (grade of F).

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