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Weitz Funds was featured in a May 2010 article appearing in the Omaha World-Herald and on Omaha.com titled "Weitz: It's a Good Time to Buy." If you would like to view the article, please agree to the access terms below by clicking the "I agree" box.

The Value Fund's (inception 5/86) average annual total returns for the one, five, and ten-year periods ended December 31, 2011 were 6.1%, -2.9%, and 2.4%, respectively. The Partners Value Fund's (inception 6/83) average annual total returns for the one, five, and ten-year periods ended December 31, 2011 were 2.2%, -0.6%, and 3.3%, respectively. The 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. The Hickory Fund's (inception 4/93) average annual total returns for the one, five, and ten-year periods ended December 31, 2011 were 1.5%, -0.5%, and 4.4%, respectively. These returns assume redemption at the end of each period and reinvestment of dividends. These performance numbers reflect the deduction of the Funds' annual operating expenses. Annual operating expenses for the Value Fund, Partners Value Fund, Partners III Opportunity Fund - Institutional Class, and Hickory Fund, as stated in the most recent Prospectus, are 1.21%, 1.21%, 1.53% and 1.28%, respectively, of each Funds' net assets. This information represents past performance and past performance does not guarantee future results. The investment return and the principal value of an investment 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 www.weitzfunds.com/performance/monthly.asp.

Performance of the Partners Value Fund and Partners III Opportunity Fund (collectively, the "Funds") is measured from June 1, 1983, the inception of Weitz Partners II Limited Partnership ("Partners II") and Weitz Partners III Limited Partnership ("Partners III"), respectively. As of December 31, 1993, the Partners Value Fund succeeded to substantially all of the assets of Partners II and as of December 30, 2005, the Partners III Opportunity Fund succeeded to substantially all of the assets of Partners III (together with Partners II, the "Partnerships"). The investment objectives, policies and restrictions of the Funds are materially equivalent to those of the respective Partnerships and the Partnerships were managed at all times with full investment authority by Wallace R. Weitz & Company. The performance information includes performance for the period before the Funds became investment companies registered with the Securities and Exchange Commission. During these periods, neither Partnership was registered under the Investment Company Act of 1940 and therefore were not subject to certain investment restrictions imposed by the 1940 Act. If either Partnership had been registered under the 1940 Act during these periods, the Partnerships' performance might have been adversely affected.

Investors should consider carefully the investment objectives, risks, and charges and expenses of the Funds before investing. The Funds' Prospectus contains this and other information about the Funds and should be read carefully before you invest or send money. The Prospectus or Summary Prospectus can be obtained by clicking here. 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 article are not recommendations to purchase any particular security. Current and future portfolio holdings are subject to risk. A Prospectus and additional information is 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 on the Omaha.com website and are not affiliated with Omaha.com.

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