Wedgewood Partners Q2 Investor Letter

Wedgewood Partners, an investment firm based in St. Louis, Missouri, recently released its Q2 investor letter – you can download a copy below.

The firm’s composite increased 4.85% (net-of-fees) during the second quarter of 2018. During the same time, the benchmark Russell 1000 Growth Index gained 5.76%, while the S&P 500 Index jumped 3.43%.

Top performance detractors include Fastenal, Berkshire Hathaway, Celgene, Booking Holdings, and Cognizant. Whereas, top second quarter performance contributors include Facebook, Tractor Supply, Apple, Visa, and Core Laboratories.

During the quarter, Wedgewood trimmed its positions in Fastenal, Ross Stores, and Edwards Lifesciences. Meanwhile, the investor added to Charles Schwab.

You can download a copy of Wedgewood’s Q2 investor letter here.