Wedgewood Partners

Q3 2018 13F · by David Rolfe, CIO

As of: Sep 30, 2018
Filed: Nov 14, 2018
US stock: $2.0B · prev $2.0B
Positions: 36 · prev 34
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%

Moves34 since the prior filing

+9.6 pp in · −9.6 pp out

New 3 +9.53 pp
Added 6 +0.02 pp
Trimmed 24 −9.56 pp
Exited 1 −0.01 pp

The book

Concentrated · behaves like 17 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 38% a year, about 2.6 years per position

Low
Moderate
High

Top 5 positions39% of US stock

AAPL Apple Inc. trimmed+0.68 pp trimmed+0.6810.0%
BRK.B BERKSHIRE HATHAWAY Class B trimmed+0.27 pp trimmed+0.278.9%
V VISA Inc. trimmed+0.13 pp trimmed+0.137.4%
EW Edwards Lifesciences Corp trimmed+0.60 pp trimmed+0.607.2%
TSCO Tractor Supply Co trimmed−0.50 pp trimmed−0.505.8%

Positions36 in this filing · 1 exited


AAPLApple Inc.	9.98%	881,751	$199M	trimmed−11%	+0.68 pp	21 q
BRK.BBERKSHIRE HATHAWAY Class B	8.86%	825,531	$177M	trimmed−9%	+0.27 pp	21 q
VVISA Inc.	7.38%	981,440	$147M	trimmed−9%	+0.13 pp	22 q
EWEdwards Lifesciences Corp	7.15%	818,960	$143M	trimmed−8%	+0.60 pp	7 q
TSCOTractor Supply Co	5.82%	1,278,342	$116M	trimmed−22%	−0.50 pp	8 q
METAMeta Platforms, Inc. Class A	5.69%	690,464	$114M	trimmed−6%	−1.51 pp	3 q
QCOMQualcomm Inc	5.55%	1,537,162	$111M	trimmed−13%	+0.53 pp	22 q
BKNGBooking Holdings Inc.	5.42%	54,541	$108M	trimmed−7%	−0.61 pp	3 q
GOOGLAlphabet Inc. Class A	5.19%	85,726	$103M	trimmed−10%	−0.27 pp	13 q
PYPLPayPal Holdings, Inc.	4.15%	942,628	$83M	trimmed−9%	−0.21 pp	13 q
FASTFastenal Co	4.13%	1,421,608	$82M	trimmed−9%	+0.33 pp	8 q
SLBSLB Limited	4.01%	1,314,269	$80M	trimmed−11%	−0.96 pp	22 q
SCHWThe Charles Schwab Corporation	3.75%	1,523,634	$75M	trimmed−6%	−0.42 pp	11 q
ODFLOld Dominion Freight Line	3.70%	457,407	$74M	new	+3.70 pp	new
ROSTRoss Stores Inc	3.66%	736,562	$73M	trimmed−36%	−1.30 pp	10 q
CELGCelgene Corp	3.40%	757,374	$68M	trimmed−12%	−0.07 pp	7 q
CHRWC.H. Robinson Worldwide, Inc.	3.36%	684,020	$67M	new	+3.36 pp	new
CTSHCognizant Technology Solutions	2.96%	766,294	$59M	trimmed−8%	−0.36 pp	22 q
ULTAUlta Beauty, Inc.	2.47%	174,795	$49M	new	+2.47 pp	new
CLBCore Laboratories Inc.	2.47%	426,000	$49M	trimmed−41%	−2.14 pp	16 q
GOOGAlphabet Inc. Class C	0.31%	5,219	$6M	trimmed−4%	0.00 pp	19 q
USBU.S. Bancorp	0.18%	67,638	$4M	held	—	11 q
BXBlackstone Inc.	0.07%	35,075	$1M	trimmed−9%	+0.01 pp	11 q
VZVerizon Communications	0.05%	19,125	$1M	added+4%	0.00 pp	11 q
JNJJohnson & Johnson	0.04%	6,300	$870,000	added+4%	0.00 pp	11 q
KHCThe Kraft Heinz Company	0.04%	14,000	$771,000	trimmed−99%	−3.73 pp	13 q
TAT&T Inc.	0.03%	17,598	$590,000	added+26%	+0.01 pp	11 q
BPBP p.l.c.	0.03%	11,425	$526,000	added+11%	+0.01 pp	5 q
AEEAmeren Corporation	0.02%	7,400	$467,000	trimmed−14%	−0.01 pp	11 q
BABoeing Company	0.02%	1,250	$464,000	held	—	7 q
EDConsolidated Edison, Inc.	0.02%	5,250	$399,000	trimmed−22%	−0.01 pp	11 q
ECLEcolab, Inc.	0.02%	2,500	$391,000	held	—	11 q
PAYXPaychex Inc	0.02%	6,650	$489,000	trimmed−10%	−0.01 pp	11 q
TDToronto Dominion Bank	0.02%	5,700	$346,000	added+5%	0.00 pp	2 q
NLYAnnaly Capital Management. Inc.	0.01%	20,500	$209,000	trimmed−9%	0.00 pp	11 q
MNManning & Napier, Inc.	0.00%	28,000	$82,000	added+2%	0.00 pp	11 q
MINTPIMCO Enhanced Short Maturity Active Exchange-Traded Fund	—	−2,780	—	exited	−0.01 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0000859804-18-000008
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

Search