Wedgewood Partners

Q4 2015 13F · by David Rolfe, CIO

As of: Dec 31, 2015
Filed: Feb 16, 2016
US stock: $5.8B · prev $6.9B
Positions: 24 · prev 24
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves24 since the prior filing

+6.4 pp in · −6.4 pp out

New 0 0.00 pp
Added 3 +6.44 pp
Trimmed 21 −6.45 pp
Exited 0 0.00 pp

The book

Concentrated · behaves like 17 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 23% a year, about 4.4 years per position

Low
Moderate
High

Top 5 positions40% of US stock

BRK.B BERKSHIRE HATHAWAY Class B trimmed+0.65 pp trimmed+0.659.5%
AAPL Apple Inc. trimmed+0.62 pp trimmed+0.628.7%
unresolved Express Scripts Hldg Co trimmed+0.92 pp trimmed+0.927.7%
QCOM Qualcomm Inc trimmed−0.22 pp trimmed−0.227.3%
MTB M&T Bank Corp. trimmed+0.09 pp trimmed+0.096.4%

Positions24 in this filing · 0 exited


BRK.BBERKSHIRE HATHAWAY Class B	9.51%	4,192,862	$554M	trimmed−10%	+0.65 pp	10 q
AAPLApple Inc.	8.74%	4,835,680	$509M	trimmed−4%	+0.62 pp	10 q
unresolvedExpress Scripts Hldg Co	7.69%	5,120,114	$448M	trimmed−11%	+0.92 pp	11 q
QCOMQualcomm Inc	7.25%	8,444,517	$422M	trimmed−12%	−0.22 pp	11 q
MTBM&T Bank Corp.	6.39%	3,071,234	$372M	trimmed−13%	+0.09 pp	10 q
CTSHCognizant Technology Solutions	6.21%	6,024,952	$362M	trimmed−12%	−0.06 pp	11 q
SLBSLB Limited	5.70%	4,757,412	$332M	trimmed−10%	+0.41 pp	11 q
PRGOPerrigo Company PLC	5.25%	2,113,216	$306M	added×2.6	+3.38 pp	9 q
unresolvedPriceline Grp Inc	5.06%	230,990	$295M	trimmed−11%	+0.41 pp	11 q
VRSKVerisk Analytics, Inc.	4.70%	3,562,860	$274M	trimmed−9%	+0.48 pp	11 q
LKQLKQ Corporation	4.56%	8,962,062	$266M	trimmed−5%	+0.68 pp	8 q
SRCLStericycle Inc	4.48%	2,161,249	$261M	added+47%	+1.50 pp	11 q
unresolvedMead Johnson Nut'n Co	4.25%	3,137,622	$248M	trimmed−10%	+0.67 pp	8 q
VVISA Inc.	4.25%	3,193,704	$248M	trimmed−15%	+0.42 pp	11 q
GOOGLAlphabet Inc. Class A	4.15%	310,914	$242M	trimmed−23%	+0.38 pp	2 q
KHCThe Kraft Heinz Company	4.10%	3,280,187	$239M	added+33%	+1.56 pp	2 q
CLBCore Laboratories Inc.	3.61%	1,935,874	$211M	trimmed−11%	+0.45 pp	5 q
PYPLPayPal Holdings, Inc.	2.97%	4,782,121	$173M	trimmed−8%	+0.61 pp	2 q
GOOGAlphabet Inc. Class C	0.89%	68,508	$52M	trimmed−38%	−0.09 pp	8 q
unresolvedCoach Inc	0.06%	115,651	$4M	trimmed−99%	−4.37 pp	11 q
unresolvedE M C Corp Mass	0.06%	128,440	$3M	trimmed−43%	−0.02 pp	11 q
NOVNOV Inc.	0.04%	69,450	$2M	trimmed−99%	−3.84 pp	11 q
VARVarian Medical Systems, Inc.	0.04%	31,700	$3M	trimmed−98%	−2.05 pp	11 q
CMICummins Inc.	0.03%	17,175	$2M	trimmed−99%	−2.59 pp	11 q

Source

Form: 13F-HR
Reading: 0 defects · 5 unresolved
Accession: 0000859804-16-000016
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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