Wedgewood Partners Q4’18 Investor Letter

Wedgewood Partners, a St. Louis, Missouri-based investment firm, has released its Q4 investor letter – you can download a copy below.

The firm’s Composite fell 15.17% (net-of-fees) during the fourth quarter of 2018. During the same period, the benchmark Russell 1000 Growth Index fell 15.89% and the S&P 500 Index fell 13.52%.

Its top fourth quarter performance detractors include Apple, Facebook, Qualcomm, Visa, and Celgene, while performance contributors include Alphabet, PayPal, Core Laboratories, Fastenal, and Ulta Beauty, according to the letter.

During the quarter, Wedgewood sold Core Labs and Schlumberger. Whereas, the firm increased its positions in Fastenal, Bookings Holdings, Facebook, Charles Schwab, and Ulta Beauty.

Meanwhile, during 2018, the firm’s Composite fell 4.01% (net-of-fees). In comparison, the benchmark Russell 1000 Growth Index fell 1.51% and the S&P 500 Index fell 4.38%.

Wedgewood’s top 2018 performance detractors include Celgene, Facebook, Schlumberger, Kraft Heinz and Charles Schwab, while top performance contributors were Edwards Lifesciences, Visa, Tractor Supply, PayPal, and Ross Stores.

You can download a copy of Wedgewood’s Q4 investor letter here.