Weitz Multi Cap Equity Fund Q1 2025 Commentary

2025-05-30 09:24:00 ET

Summary

• The Multi Cap Equity Fund’s Institutional Class returned +0.81% for the quarter, comparing favorably to the Russell 3000 Index’s loss of -4.72%.
• Portfolio activity was elevated in the first quarter. In addition to our life sciences additions, we initiated new positions in three companies.
• In the longer term, however, several structural tailwinds remain in place including growing pet ownership, increased adoption of diagnostic tools and underpenetrated international markets.

Against a challenging market backdrop, we were pleased to report “black ink” for the first quarter of 2025. The Multi Cap Equity Fund’s Institutional Class returned +0.81% for the quarter, comparing favorably to the Russell 3000 Index’s loss of -4.72%. The “AI Trade” was dealt a setback in late January after Chinese firm DeepSeek announced its advanced AI model had been developed at a fraction of the cost of U.S. competitors. This led to greater investor scrutiny of U.S. firms’ spending plans....

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