BMY - Wedgewood Partners Q1 2021 Client Letter

• Wedgewood Partners is a money manager founded in 1988 with the goal of providing investors with a superior approach to managing investment portfolios.
• For the first quarter of 2021, our Composite (net)i gained +4.8%. The S&P 500 Index gained +6.2%. The Russell 1000 Growth Index gained +1%. The Russell 1000 Value Index gained +11.3%.
• Top performance detractors for the first quarter include Copart, Edwards Lifesciences, Apple, Electronic Arts, and Visa. Top first quarter performance contributors include Alphabet, CDW, Tractor Supply, Motorola Solutions, and Facebook.
• During the quarter we trimmed PayPal, Visa, Apple, and Edwards Lifesciences. We increased our weighting in Progressive. We sold Bristol-Myers Squibb. We purchased Booking Holdings and Old Dominion Freight Line.

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