Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 11/05/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
7.9%
1 yr return
13.1%
3 Yr Avg Return
2.7%
5 Yr Avg Return
6.1%
Net Assets
$230 M
Holdings in Top 10
20.8%
Expense Ratio 0.77%
Front Load N/A
Deferred Load N/A
Turnover N/A
Redemption Fee N/A
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 11/05/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
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.
Period | WBAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.9% | -4.4% | 14.3% | 46.94% |
1 Yr | 13.1% | -0.7% | 26.6% | 91.44% |
3 Yr | 2.7%* | -17.0% | 4.4% | 11.41% |
5 Yr | 6.1%* | -5.8% | 7.9% | 7.55% |
10 Yr | N/A* | -0.7% | 7.4% | 13.37% |
* Annualized
Period | WBAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.1% | -1.0% | 27.4% | 20.83% |
2022 | -11.6% | -35.0% | -7.4% | 3.72% |
2021 | 10.3% | -11.5% | 14.6% | 2.29% |
2020 | 6.9% | -10.3% | 40.7% | 20.49% |
2019 | N/A | -9.5% | 22.1% | N/A |
Period | WBAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.9% | -4.4% | 14.3% | 46.94% |
1 Yr | 13.1% | -0.7% | 26.6% | 91.44% |
3 Yr | 2.7%* | -17.0% | 4.4% | 11.41% |
5 Yr | 6.1%* | -5.8% | 7.9% | 7.55% |
10 Yr | N/A* | -0.7% | 7.4% | 13.08% |
* Annualized
Period | WBAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.4% | 2.6% | 28.2% | 46.57% |
2022 | -9.8% | -35.0% | -3.1% | 17.87% |
2021 | 13.1% | -11.5% | 32.0% | 6.36% |
2020 | 8.3% | -5.4% | 40.7% | 60.38% |
2019 | N/A | 4.5% | 27.7% | N/A |
WBAIX | Category Low | Category High | WBAIX % Rank | |
---|---|---|---|---|
Net Assets | 230 M | 291 K | 50.8 B | 76.77% |
Number of Holdings | 209 | 2 | 4065 | 30.32% |
Net Assets in Top 10 | 48.6 M | 284 K | 10.3 B | 89.24% |
Weighting of Top 10 | 20.77% | 9.7% | 111.4% | 85.33% |
Weighting | Return Low | Return High | WBAIX % Rank | |
---|---|---|---|---|
Bonds | 53.66% | 0.00% | 79.72% | 15.89% |
Stocks | 42.30% | 0.00% | 100.08% | 75.31% |
Cash | 2.74% | -35.68% | 25.19% | 36.67% |
Convertible Bonds | 0.95% | 0.00% | 71.77% | 48.15% |
Preferred Stocks | 0.00% | 0.00% | 21.95% | 82.64% |
Other | 0.00% | -0.45% | 61.72% | 79.46% |
Weighting | Return Low | Return High | WBAIX % Rank | |
---|---|---|---|---|
Financial Services | 30.67% | 0.00% | 83.50% | 0.75% |
Technology | 21.05% | 0.22% | 27.92% | 18.41% |
Healthcare | 13.48% | 0.00% | 24.25% | 41.54% |
Communication Services | 10.93% | 0.00% | 11.11% | 1.24% |
Basic Materials | 10.30% | 0.00% | 32.82% | 2.74% |
Industrials | 7.39% | 0.14% | 17.90% | 91.04% |
Consumer Cyclical | 2.82% | 0.00% | 14.20% | 92.79% |
Consumer Defense | 2.15% | 0.00% | 18.62% | 98.01% |
Real Estate | 1.21% | 0.00% | 43.16% | 96.77% |
Utilities | 0.00% | 0.00% | 48.33% | 100.00% |
Energy | 0.00% | 0.00% | 62.93% | 100.00% |
Weighting | Return Low | Return High | WBAIX % Rank | |
---|---|---|---|---|
US | 42.30% | 0.00% | 100.08% | 70.90% |
Non US | 0.00% | 0.00% | 23.24% | 83.62% |
Weighting | Return Low | Return High | WBAIX % Rank | |
---|---|---|---|---|
Government | 51.78% | 0.00% | 63.33% | 8.15% |
Securitized | 21.67% | 0.00% | 52.08% | 27.16% |
Corporate | 6.42% | 0.00% | 96.66% | 95.56% |
Cash & Equivalents | 2.52% | 0.00% | 25.19% | 37.90% |
Derivative | 0.00% | -0.45% | 61.72% | 71.64% |
Municipal | 0.00% | 0.00% | 99.85% | 94.07% |
Weighting | Return Low | Return High | WBAIX % Rank | |
---|---|---|---|---|
US | 53.66% | 0.00% | 79.72% | 11.25% |
Non US | 0.00% | 0.00% | 7.66% | 82.40% |
WBAIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.77% | 0.06% | 21.26% | 63.57% |
Management Fee | 0.60% | 0.00% | 1.25% | 90.44% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.03% | 0.01% | 0.70% | 10.89% |
WBAIX 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 |
WBAIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.00% | 2.00% | N/A |
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.
WBAIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 2.00% | 380.00% | 43.60% |
WBAIX | Category Low | Category High | WBAIX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.77% | 0.00% | 7.99% | 84.35% |
WBAIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | SemiAnnual | Annual | Monthly | Quarterly |
WBAIX | Category Low | Category High | WBAIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.46% | -1.22% | 6.83% | 95.04% |
WBAIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 13, 2023 | $0.163 | OrdinaryDividend |
Dec 13, 2023 | $0.068 | CapitalGainLongTerm |
Jun 14, 2023 | $0.121 | OrdinaryDividend |
Dec 14, 2022 | $0.260 | OrdinaryDividend |
Jun 15, 2022 | $0.055 | OrdinaryDividend |
Dec 15, 2021 | $0.436 | OrdinaryDividend |
Dec 16, 2020 | $0.126 | OrdinaryDividend |
Jun 17, 2020 | $0.071 | OrdinaryDividend |
Dec 17, 2019 | $0.118 | OrdinaryDividend |
Dec 17, 2019 | $0.067 | CapitalGainShortTerm |
Dec 17, 2019 | $0.065 | CapitalGainLongTerm |
Jun 18, 2019 | $0.032 | OrdinaryDividend |
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.
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.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 28.73 | 6.38 | 2.41 |
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