Wally Weitz Firm Buys Anheuser Busch Inbev, Sells SandRidge Energy

Wally Weitz, of Weitz Investment Management, runs the fund with a simple philosophy: “Own a group of strong businesses purchased at deeply discounted stock prices.” This common-sense approach, combined with Wally’s market instinct and skills in value investing, has helped the Weitz funds grow over the years.

Wally Weitz said in his Q3 letter to shareholders, “We own shares in strong companies that have historically coped well with changing economic conditions and we trust them to navigate in turbulent times. We also hold substantial cash reserves in our...