SPGI - Wedgewood Partners Q4 2020 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 calendar 2020, our Composite (net) gained +32.1%. The S&P 500 Index gained +18.4%. The Russell 1000 Growth Index gained +38.5%. The Russell 1000 Value Index gained +2.8%.
• For the fourth quarter of 2020, our Composite (net) gained +12.2%. The S&P 500 Index gained +12.2%. The Russell 1000 Growth Index gained +11.4%. The Russell 1000 Value Index gained +16.3%.
• Top performance detractors for the year include Booking Holdings, Fastenal, Fleetcor, Ross Stores, and Motorola Solutions. Top performance contributors for the year include Apple, PayPal, Tractor Supply, Facebook, and Nvidia.
• Progressive was a new addition to portfolios during the 4th quarter.

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