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Wally Weitz appeared on the March 24, 2010 episode of CNBC's "Power Lunch." If you would like to watch the interview, please agree to the access terms below by clicking the "I agree" box. Please note that at 2 minutes and 24 seconds into the video, CNBC displays a chart of Partners III Opportunity Fund's net asset value during April and May of 2009. The Fund's current net asset value and performance is available at weitzfunds.com/performance/fundprices.asp.

Weitz Partners III Opportunity Fund's (inception 6/83) average annual total returns (Institutional Class shares) for the one, five and ten-year periods ended December 31, 2011 were 5.6%, 2.6%, and 7.1%, respectively. These performance numbers reflect the deduction of the Fund's annual operating expenses which as stated in the most recent Prospectus or Summary Prospectus are 1.53% (Institutional Class shares) and 1.74% (estimated for Investor Class shares) of the Fund's net assets. The returns set forth above assume redemption at the end of each period and reinvestment of dividends. This information represents past performance and past performance does not guarantee future results. The investment return and the principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance may be higher or lower than the performance data quoted. Performance data current to the most recent month-end may be obtained at weitzfunds.com/performance/monthly.asp.

Performance of the Partners III Opportunity Fund (the "Fund") is measured from June 1, 1983, the inception of Weitz Partners III Limited Partnership (the "Partnership"). As of December 30, 2005, the Fund succeeded to substantially all of the assets of the Partnership. The investment objectives, policies and restrictions of the Fund are materially equivalent to those of the Partnership and the Partnership was managed at all times with full investment authority by Wallace R. Weitz & Company. The performance information includes performance for the period before the Fund became an investment company registered with the Securities and Exchange Commission. During this period, the Partnership was not registered under the Investment Company Act of 1940 and, therefore, was not subject to certain investment restrictions imposed by the 1940 Act. If the Partnership had been registered under the 1940 Act during this period, the Partnership's performance might have been adversely affected.

As of December 31, 2011, Weitz Partners III Opportunity Fund received a 5-Star Overall Morningstar Rating, measuring risk-adjusted returns against 1,580 and 1,376 U.S. domiciled Large Blend funds for the 3- and 5-year periods, respectively. A fund's overall rating is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating™ metrics. Weitz Partners III Opportunity Fund received 5-star ratings for each of the 3- and 5-year periods.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.)

© 2011 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Investors should consider carefully the investment objectives, risks, and charges and expenses of the Fund before investing. The Fund's Prospectus contains this and other information about the Fund and should be read carefully before investing. The Prospectus can be obtained by clicking here. Please read the Prospectus carefully before you invest or send money. Remember that there can be no assurance that an investment objective of any mutual fund will be achieved. Portfolio composition is subject to change at any time and references to specific securities, industries and sectors referenced in this interview are not recommendations to purchase any particular security. Current and future portfolio holdings are subject to risk. A Prospectus and additional information are available from Weitz Funds, 1125 South 103 Street, Suite 200, Omaha, NE 68124-1071, weitzfunds.com, 800-304-9745, 402-391-1980.

Weitz Funds, Wallace R. Weitz & Company and Weitz Securities, Inc. disclaim any liability for information contained in this interview and are not affiliated with CNBC.

Weitz Securities, Inc. is the distributor of the Weitz Funds.