Weitz Conservative Allocation-Instl Cl (WBAIX)

The fund invests primarily in a portfolio of equity and debt securities. It normally invests 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. The fund will invest at least 25% of its total assets in investment-grade debt securities. The fund may invest in the equity securities of issuers of all sizes.