Weitz Investment Management, an investment management firm, released its second-quarter Q2 2026 investor letter for the "Large Cap Equity Fund". A copy of the letter can be downloaded here. The Large Cap Equity Fund's Institutional Class posted a return of 7.03% in Q2, trailing the 15.49% return of the Bloomberg U.S. 1000 Index. This disparity arose as equity markets surged amid economic resilience and easing Middle East tensions, while AI-related stock performance soared due to heightened investor interest in "AI bottleneck" beneficiaries, primarily semiconductor firms. Major positions in "hyperscaler" cloud providers yielded mixed results. Risk-on factors like momentum and growth significantly outpaced defensive factors. Despite the current volatility, the Fund maintains its philosophy of investing in quality companies at undervalued prices, believing this strategy will yield improved returns over time. The portfolio held ownership in 30 companies, with the top 10 comprising over half of the portfolio. The price-to-value ratio is in the upper-70s, indicating strong return potential. Additionally, reviewing the Fund's top five holdings could help identify its best picks for 2026.
In its Q2 2026 investor letter, Weitz Investment Large Cap Equity Fund highlighted Martin Marietta Materials, Inc. (NYSE:MLM). Martin Marietta Materials, Inc. (NYSE:MLM) is a building materials company that supplies aggregates and heavy-side building materials to the construction industry. On August 14, 2026, Martin Marietta Materials, Inc. (NYSE:MLM) closed at $547.93 per share, reflecting a market capitalization of $32.91 billion. Martin Marietta Materials, Inc. (NYSE:MLM) posted a one‑month return of ‑1.03%, while its shares lost 9.11% over the past 52 weeks.
Weitz Investment Large Cap Equity Fund stated the following regarding Martin Marietta Materials, Inc. (NYSE:MLM) in its Q2 2026 investor letter:
"We bought new positions in Martin Marietta Materials, Inc. (NYSE:MLM) and Veralto during the quarter. Both are repeat holdings, so we were able to act opportunistically and quickly at favorable prices. Martin Marietta is a leading aggregates producer with terrific ****** ets and a solid capital allocation track record. The investment is a natural extension of our longstanding "rocks and gravel" theme."
Martin Marietta Materials, Inc. (NYSE:MLM) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 65 hedge fund portfolios held Martin Marietta Materials, Inc. (NYSE:MLM) at the end of the first quarter, the same as in the previous quarter. While we acknowledge the potential of Martin Marietta Materials, Inc. (NYSE:MLM) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI

Weitz Investment Management, an investment management firm, released its second-quarter Q2 2026 investor letter for the "Large Cap Equity Fund". A copy of the letter can be downloaded here. The Large Cap Equity Fund's Institutional Class posted a return of 7.03% in Q2, trailing the 15.49% return of the Bloomberg U.S. 1000 Index. This disparity arose as equity markets surged amid economic resilience and easing Middle East tensions, while AI-related stock performance soared due to heightened investor interest in "AI bottleneck" beneficiaries, primarily semiconductor firms. Major positions in "hyperscaler" cloud providers yielded mixed results. Risk-on factors like momentum and growth significantly outpaced defensive factors. Despite the current volatility, the Fund maintains its philosophy of investing in quality companies at undervalued prices, believing this strategy will yield improved returns over time. The portfolio held ownership in 30 companies, with the top 10 comprising over half of the portfolio. The price-to-value ratio is in the upper-70s, indicating strong return potential. Additionally, reviewing the Fund's top five holdings could help identify its best picks for 2026.
In its Q2 2026 investor letter, Weitz Investment Large Cap Equity Fund highlighted Old Dominion Freight Line, Inc. (NASDAQ:ODFL). Old Dominion Freight Line, Inc. (NASDAQ:ODFL) is a less-than-truckload motor carrier that provides regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. On August 14, 2026, Old Dominion Freight Line, Inc. (NASDAQ:ODFL) closed at $210.97 per share. One-month return of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) was 8.91%, and its shares gained 40.30% over the past 52 weeks. Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has a market capitalization of $43.45 billion.
Weitz Investment Large Cap Equity Fund stated the following regarding Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in its Q2 2026 investor letter:
"We sold the Fund's profitable investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) when the stock traded above our business value estimate. We respect and admire the company's management, culture, and methodical approach to building business value in the competitive trucking industry. While positive developments have been stacking up on several fronts, we think the stock price already reflects a strong volume recovery, robust pricing, and plenty of operating ratio improvement. We would gladly own the stock again at the right price."

#fund #weitz

Weitz Investment Management, an investment management firm, released its second-quarter Q2 2026 investor letter for the "Large Cap Equity Fund". A copy of the letter can be downloaded here. The Large Cap Equity Fund's Institutional Class posted a return of 7.03% in Q2, trailing the 15.49% return of the Bloomberg U.S. 1000 Index. This disparity arose as equity markets surged amid economic resilience and easing Middle East tensions, while AI-related stock performance soared due to heightened investor interest in "AI bottleneck" beneficiaries, primarily semiconductor firms. Major positions in "hyperscaler" cloud providers yielded mixed results. Risk-on factors like momentum and growth significantly outpaced defensive factors. Despite the current volatility, the Fund maintains its philosophy of investing in quality companies at undervalued prices, believing this strategy will yield improved returns over time. The portfolio held ownership in 30 companies, with the top 10 comprising over half of the portfolio. The price-to-value ratio is in the upper-70s, indicating strong return potential. Additionally, reviewing the Fund's top five holdings could help identify its best picks for 2026.
In its Q2 2026 investor letter, Weitz Investment Large Cap Equity Fund highlighted Veralto Corporation (NYSE:VLTO) as a newly added position. Veralto Corporation (NYSE:VLTO) provides water ******* ytics, water treatment, marking and coding, and packaging and color solutions. On August 14, 2026, Veralto Corporation (NYSE:VLTO) closed at $97.68 per share. The one-month return of Veralto Corporation (NYSE:VLTO) was 4.86% and its shares lost 8.45% over the past 52 weeks. Veralto Corporation (NYSE:VLTO) has a market capitalization of $23.81 billion.
Weitz Investment Large Cap Equity Fund stated the following regarding Veralto Corporation (NYSE:VLTO) in its Q2 2026 investor letter:
"We bought new positions in Martin Marietta Materials and Veralto Corporation (NYSE:VLTO) during the quarter. Both are repeat holdings, so we were able to act opportunistically and quickly at favorable prices. Veralto enjoys leading market positions and enviable economics in its water quality and packaging, labeling, and product traceability businesses. We see a clear path to modest organic growth, operating margin expansion, and value-creating capital deployment."
Veralto Corporation (NYSE:VLTO) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 57 hedge fund portfolios held Veralto Corporation (NYSE:VLTO) at the end of the first quarter which was 55 in the previous quarter. While we acknowledge the potential of Veralto Corporation (NYSE:VLTO) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

#vlto #i

Shares of Tapestry (NYSE: TPR), the parent of Coach and Kate Spade, were heading lower today after the company beat estimates in its fourth quarter, but gave disappointing guidance for fiscal 2027.
As a result, the stock was down 15.1% as of 12:57 p.m. ET.
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The handbag and accessories company delivered solid results in the fourth quarter with revenue up 9%, or 11% on a pro forma constant currency basis, which adjusts for the sale of Stuart Weitzman, to $1.88 billion, which essentially matched the consensus at $1.87 billion.
Coach, which makes up the vast majority of sales, was particularly strong with 14% constant-currency, and Tapestry delivered gross margin and operating margin expansion for both the quarter and the year. Kate Spade continued to struggle with revenue down 7%.

#company #tapestry #kate

DETROIT — A blister affected Chicago White Sox starter Davis Martin in Thursday's outing that ended with an ejection.
A day later, the right-hander landed on the 15-day injured list with the blister on his right middle finger.
"We decided that there's a good chunk of skin gone, how that's going to affect me throwing the baseball?" Martin said Friday afternoon. "A lot of questions popped up where it made sense to put me on the IL and get it taken care of."
Martin's IL stint was one of several moves announced by the American League Central-leading Sox ahead of a big three-game series against the second-place Detroit Tigers at Comerica Park. The Sox brought up pitchers José Urquidy and Tyler Schweitzer from Triple-A Charlotte and optioned right-hander Tanner McDougal to Charlotte.
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#Baseball

Charlotte Knights 5, Durham Bulls 3
Just like the big-league club, the Knights (62-52) overpowered the Bulls (52-61) to claim the series. José Urquidy made his third start for Charlotte since he was acquired from the Pittsburgh Pirates, allowing one run in his two frames on three hits while striking out three in the process. A pair of doubles in the second drove in the first run for the Bulls, but the Good Guys answered back in the bottom of the inning, tying the game at one on a solo shot from Korey Lee, his first of two batted in on the day. Adding three more the next inning, Rikuu Nishida and Mario Camilletti started the inning with back-to-back walks before being brought in by Ryan Galanie. Junior Perez also mashed a solo shot in the seventh to add an insurance run, making up for his rough day yesterday.
Daniel Wright and Tyler Schweitzer were next out of the bullpen, each allowing on run on two hits while striking out two, earning a hold and keeping the Knights in the game with the lead. All of the remaining pitchers earned a hold while Jaden Woods earned his second save of the season, striking out one with a hit, sealing the win for Wright.
MVP
Korey Lee (C): 1-for-4, R, 2 RBI, K, HR
Runners-Up
Ryan Galanie (1B): 2-for-3, R, RBI, BB, 0-for-1 SB
Junior Perez (CF): 1-for-3, R, RBI, K, HR
Garrett Schoenle (LHRP): 1 IP, 0 H, K, Hold
Jaden Woods (LHRP): 1 IP, H, 0 R, K, Save
Cold Cat
Joey Wiemer (LF): 0-for-4, 3 K

#hold #back #korey

The descendant of a once-leading tire and rubber company, Uniroyal Holding Inc., is winding up its operations, and its iconic brand name will soon disappear as a functioning entity.
Uniroyal Holding Inc., which was a subsidiary of the former Uniroyal tire company, filed for Chapter 11 bankruptcy protection to satisfy all personal injury and wrongful death claims related to asbestos in products, settle remaining retirement benefits of former employees, and provide a distribution of ****** ets to creditors.
The Naugatuck, Conn., debtor listed $10 million to $50 million in ****** ets and $50 million to $100 million in liabilities in its petition filed in the U.S. Bankruptcy Court for the District of New Jersey on July 31.
Uniroyal Holdings listed 30 law firms in the petition that had filed the most asbestos litigation cases against the debtor, though all amounts on the unsecured asbestos claims were categorized as undetermined.
Asbestos claims ranged from a high of 22,754 cases from Weitz & Luxenberg to a low of 32 cases from Wallace & Graham P.A.

#asbestos #million #filed #company

Aug. 3—Carroll has dismissed Mike Pomfret as its football head coach effective immediately.
The school district announced the decision in a statement Monday, Aug. 3.
Mitch Weitz has been named the interim football head coach. He is an ****** istant coach for football and the boys bowling head coach at Carroll.
"As a result of an on-field incident at practice, effective immediately, Mike Pomfret is no longer employed at Archbishop Carroll High School as a teacher or coach," said Carroll High School principal Matt Sableski said in a statement.
Pomfret, a 2007 Carroll alum, was entering his second season as the football head coach at Carroll after being hired in January 2025.

#coach #immediately

BALTIMORE (AP) — Colson Montgomery and Junior Perez homered during Chicago's seven-run third inning and the White Sox pounded the Baltimore Orioles 9-3 on Tuesday night.
Erick Fedde (3-6) allowed three runs in five innings for Chicago, which extended its lead atop the AL Central to two games over Cleveland. Tyler Schweitzer worked the final four innings for his first career save.
Orioles starter Trey Gibson (1-3) yielded eight runs, seven hits and six walks in 2 2/3 innings. He struck out five.
Chicago went 13-12 in June, making this the first time the White Sox have managed back-to-back winning months since 2021. They had a winning record in every month that year.
The game was tied at 1 entering the third, and then the first seven Chicago batters came around to score. After a single by Andrew Benintendi, Montgomery connected for this 21st homer of the year, a 440-foot shot to right-center.

Tapestry, Inc. (TPR) is a global luxury lifestyle company headquartered in New York that designs, markets, and sells premium accessories and lifestyle products through its portfolio of iconic brands, including Coach, Kate Spade, and Stuart Weitzman. The company operates across North America, Greater China, Europe, and other international markets, offering products such as handbags, leather goods, footwear, apparel, and accessories. The company has a market cap of $30.1 billion.
Companies worth $10 billion or more are generally described as "large-cap" stocks, and TPR fits right into that category, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the luxury goods industry. Tapestry has positioned itself as a leading player in accessible luxury by leveraging brand strength, digital expansion, and global consumer reach.
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Charlotte Knights 5, Buffalo Bisons 1
The Knights (39-32) recovered from Tuesday’s loss to even up their series in Buffalo against the Bisons (34-37).
After a scoreless first inning, the Knights offense went to work by putting a crooked number on the scoreboard. Nolan Jones drew a leadoff walk, and Ryan Galanie added a single. That set the stage for Dustin Harris, who drove in the first run of the game with a single to right. Dru Baker popped out, but the next batter was Andy Weber, who launched a three-run homer to give the Knights a commanding lead.
In the sixth, with the score still 4-0, Galanie blasted his 10th homer to add an insurance run and extend the lead to five. As it turned out, five was more than enough for the Knights to come away with the victory.
Meanwhile, Tyler Schweitzer was the opener for Charlotte, and he did his part by pitching a scoreless first inning. Duncan Davitt covered the next three innings, and he did not allow any runs, either. The Bisons scored their only run in the sixth, when Sean Keys went deep against Zach Franklin. The bullpen took care of business down the stretch, as Garrett Schoenle and Javy Guerra combined to pitch 3 1/3 scoreless innings to put the game away. Catcher Kyle Teel went 1-for-4 with a single and a strikeout during the victory.
Who was the Knights MVP?

If you think inflation means stores are dropping prices to win consumers back, think again. One of America's historic footwear giant is actually betting on higher-priced products, and closing stores at your local malls.
The way we buy shoes has radically transformed. Stiff dress shoes have been replaced by versatile comfort, according to the US Men's and Women's Footwear Market Report. But keeping up with changing fashion trends is no longer the hardest part of the game.
Today, legacy retailers face intense pressure from tariffs, inflation, and shifting consumer preferences. As McKinsey and Company's The State of Fashion 2026 report notes, new US tariffs have completely "redrawn trade maps," forcing brands to rapidly reconstruct supply chains on the fly.
Americans spent $121 billion on footwear last year, importing six pairs of shoes per person, according to the FDRA. Yet one of the country's biggest shoe retailers, Caleres, the powerhouse behind Famous Footwear, Sam Edelman, and Stuart Weitzman, says its affordable business is slowing while demand for premium brands surges.
Inflation-pressured consumers are dropping mall impulse buys to prioritize personal well-being, health, and longevity, according to McKinsey. This shift is prompting many footwear retailers to rethink both store fleets and product strategies.