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WEITZ SERIES FUND, INC.
GOVERNMENT MONEY MARKET PORTFOLIO
QUARTERLY REPORT
JUNE 30, 1996
ONE PACIFIC PLACE, SUITE 600
1125 SOUTH 103 STREET
OMAHA, NE 68124-6008
402-391-1980
800-232-4161
402-391-2125 FAX
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WEITZ SERIES FUND, INC.
GOVERNMENT MONEY MARKET PORTFOLIO
JUNE 30, 1996 -- QUARTERLY REPORT
July 8, 1996
Dear Shareholder:
Short-term interest rates moved modestly higher in the second quarter as
the bond market continued to be buffeted on news of a potentially stronger U.S.
economy. Amid mixed economic signals, the Federal Reserve left the federal
funds rate (the rate charged for overnight loans between banks) unchanged. Our
7-day and 30-day yields increased slightly to 4.7% and 4.6%, respectively.
Our strategy is to invest in liquid short-term Government securities that
have a weighted average maturity of less than 90 days. Rates on these
instruments will continue to be affected by near-term monetary policy. Thus, we
expect that the fund's yield will closely track Treasury bill rates.
Best Regards,
/s/Wally Weitz /s/Tom Carney
Wallace R. Weitz Thomas Carney
President, Portfolio Manager Portfolio Manager
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Yields quoted are historical and will fluctuate in the future. An investment in
the Government Money Market Portfolio is neither insured, nor guaranteed by the
U.S. Government and there can be no assurance that it will maintain a steady net
asset value of $1.00.
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WEITZ SERIES FUND, INC.
GOVERNMENT MONEY MARKET PORTFOLIO
SCHEDULE OF INVESTMENTS IN SECURITIES
JUNE 30, 1996
(UNAUDITED)
<TABLE>
<CAPTION>
AMORTIZED
COST, WHICH
FACE APPROXIMATES
AMOUNT DESCRIPTION MARKET VALUE
------ ----------- ------------
<S> <C> <C>
U.S. GOVERNMENT AND AGENCY SECURITIES - 99.8%
$ 1,045,000 U.S. Treasury Bill 5.105% 7/05/96** $1,044,424
1,000,000 Federal Home Loan Bank Discount Note 5.352% 7/10/96** 998,696
3,100,000 U.S. Treasury Bill 5.229% 10/03/96** 3,058,974
----------
Total U.S. Government and Agency Securities 5,102,094
----------
SHORT-TERM SECURITIES - 0.5%
24,931 Norwest Treasury Money Market Fund, 4.6% 24,931
----------
Total Investments in Securities 5,127,025*
----------
Other Liabilities in Excess of Other Assets - (0.3%) (16,687)
----------
Total Net Assets - 100.0% $5,110,338
----------
----------
</TABLE>
*Also approximates cost for federal income tax purposes
**Interest rates presented for treasury bills and discount notes are based upon
yield to maturity rate(s) at date(s) of purchase
3
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WEITZ SERIES FUND, INC.
BOARD OF DIRECTORS
Carroll E. Fredrickson
John W. Hancock
Richard D. Holland
Thomas R. Pansing, Jr.
Wallace R. Weitz
OFFICERS
Wallace R. Weitz, President
Mary K. Beerling, Vice-President & Secretary
Linda L. Lawson, Vice-President
Richard F. Lawson, Vice-President
INVESTMENT ADVISER
Wallace R. Weitz & Company
DISTRIBUTOR
Weitz Securities, Inc.
CUSTODIAN
Norwest Bank Nebraska, N.A.
TRANSFER AGENT AND DIVIDEND PAYING AGENT
Wallace R. Weitz & Company
This report has been prepared for the information of shareholders of Weitz
Series Fund, Inc.-Government Money Market Portfolio and is not authorized for
distribution to prospective investors unless preceded or accompanied by a
current prospectus which describes the Fund's objectives, policies, and other
information.
