The returns set forth above assume redemption at the end of each period. These performance numbers reflect the deduction of each Fund's annual operating expenses. The current annual operating expenses for the Value, Partners Value, Hickory, Partners III Opportunity, Balanced, Nebraska Tax-Free Income and Short-Intermediate Income Funds as stated in each Fund's most recent Prospectus are 1.16%, 1.16%, 1.23%, 1.54%, 1.13%, 0.80%, and 0.71%, respectively, of each Fund's 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 in these Funds 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 above. Click here for performance data current to the most recent month-end.

Investors should consider carefully the investment objectives, risks, and charges and expenses of a Fund before investing. The Funds' Prospectus contains this and other information about the Funds.

With respect to the Government Money Market Fund, there can be no assurance that the Fund will be able to maintain a stable net asset value. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. An investment in the Government Money Market Fund is neither insured nor guaranteed by the U.S. Government.

*Performance of the Partners Value Fund is measured from June 1, 1983, the inception of Weitz Partners-II Limited Partnership ("Partners II"). Partners Value Fund succeeded to substantially all of the assets of Partners II as of December 31, 1993. The investment objectives, policies, guidelines and restrictions of the Partners Value Fund are materially equivalent to those of Partners II and Partners II was managed at all times with full investment authority by Wallace R. Weitz & Company ("Weitz").

**Performance of the Partners III Opportunity Fund is measured from June 1, 1983, the inception of Weitz Partners-III Limited Partnership ("Partners III"). Partners III Opportunity Fund succeeded to substantially all of the assets of Partners III as of December 30, 2005. The investment objectives, policies and restrictions of the Partners III Opportunity Fund are materially equivalent to those of Partners III and Partners III was managed at all times with full investment authority by Weitz.

^#Performance of the Nebraska Tax-Free Income Fund is measured from October 1, 1985, the inception of Weitz Income Partners Limited Partnership ("Income Partners"). Nebraska Tax-Free Income Fund succeeded to substantially all of the assets of Income Partners as of December 29, 2006. The investment objectives, policies, guidelines and restrictions of the Nebraska Tax-Free Income Fund are materially equivalent to those of Income Partners and Income Partners was managed at all times with full investment authority by Weitz.

The performance data presented includes performance for the period before the Partners Value Fund, Partners III Opportunity Fund and Nebraska Tax-Free Income Fund each became an investment company registered with the Securities and Exchange Commission. During this time, each Fund 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 each Fund had been registered during this time period, each Fund's performance might have been adversely affected.

^† Fund inception dates: Value - 5/9/1986, Partners Value - 6/1/1983, Hickory - 4/1/1993, Partners III Opportunity - 6/1/1983, Balanced - 10/1/2003, Nebraska Tax-Free Income - 10/1/1985, Short-Intermediate Income - 12/23/1988, Government Money Market - 8/1/1991