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Wedgewood Partners

Mar 2025 → Jun 2026 · Publishes quarterly · 2 funds

Our archive holds 6 letters from Wedgewood Partners, behind 9 investment theses and positions in 14 companies. Every quote below is copied verbatim from the letter it came from.

Wedgewood Partners’s own letters page
6
Letters
14
Companies
13
Moves
9
Theses

What they bought and sold · 13 moves

  • AddedChubb
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW. We increased positions in Chubb, Progressive, Meta, Amazon, Microsoft, and Visa. We trimmed United Rentals, Alphabet, and Taiwan Semiconductor Manufacturing.”
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  • AddedProgressive
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW. We increased positions in Chubb, Progressive, Meta, Amazon, Microsoft, and Visa. We trimmed United Rentals, Alphabet, and Taiwan Semiconductor Manufacturing.”
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  • TrimmedAlphabet
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW. We increased positions in Chubb, Progressive, Meta, Amazon, Microsoft, and Visa. We trimmed United Rentals, Alphabet, and Taiwan Semiconductor Manufacturing.”
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  • AddedAmazon
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW. We increased positions in Chubb, Progressive, Meta, Amazon, Microsoft, and Visa. We trimmed United Rentals, Alphabet, and Taiwan Semiconductor Manufacturing.”
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  • AddedMeta Platforms
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW. We increased positions in Chubb, Progressive, Meta, Amazon, Microsoft, and Visa. We trimmed United Rentals, Alphabet, and Taiwan Semiconductor Manufacturing.”
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  • AddedMicrosoft
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW. We increased positions in Chubb, Progressive, Meta, Amazon, Microsoft, and Visa. We trimmed United Rentals, Alphabet, and Taiwan Semiconductor Manufacturing.”
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  • TrimmedTaiwan Semiconductor Manufacturing
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW. We increased positions in Chubb, Progressive, Meta, Amazon, Microsoft, and Visa. We trimmed United Rentals, Alphabet, and Taiwan Semiconductor Manufacturing.”
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  • ExitedCDW
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW.”
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  • ExitedTractor Supply Company
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW.”
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  • AddedVisa
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW. We increased positions in Chubb, Progressive, Meta, Amazon, Microsoft, and Visa. We trimmed United Rentals, Alphabet, and Taiwan Semiconductor Manufacturing.”
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  • TrimmedUnited Rentals
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW. We increased positions in Chubb, Progressive, Meta, Amazon, Microsoft, and Visa. We trimmed United Rentals, Alphabet, and Taiwan Semiconductor Manufacturing.”
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  • ExitedZoetis
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW.”
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  • New positionHermès International
    June 2026
    “We recently initiated positions in Hermès International, one of the world's leading designers, manufacturers, and retailers of ultra-luxury leather goods, apparel, and accessories.”
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Companies held · 14

Every company Wedgewood Partners has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 9

  • Hermès International
    June 2026

    Hermès combines exceptional craftsmanship, iconic brand equity, constrained supply, and premium pricing power that support durable growth and profitability.

    Read the full thesis
  • Amazon
    June 2026

    Amazon is growing revenue and operating income strongly, reinvesting capital rationally at attractive returns, and trades at depressed multiples despite long-term upside.

    Read the full thesis
  • Meta Platforms
    June 2026

    Meta Platforms uses its scale and AMD-related economic hedge to offset DRAM inflation and support future returns.

    Read the full thesis
  • Chubb Limited
    December 2025

    Chubb is a global P&C insurer with specialty lines, best-in-class underwriting, strong claims service, and growing investment income supporting durable double-digit earnings growth.

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  • Old Dominion Freight Line, Inc.
    December 2025

    Old Dominion Freight Line is a best-in-class LTL carrier expected to gain profit share through superior capacity and cost management across cycles.

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  • Taiwan Semiconductor Manufacturing Company
    December 2025

    Taiwan Semiconductor Manufacturing Company is the leading advanced-node foundry with pricing power and HPC-driven growth that supports strong returns on capital.

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  • Amazon.com, Inc.
    December 2025

    Amazon.com combines improving retail productivity and high-margin advertising with AWS leadership and proprietary hardware to drive double-digit growth at depressed valuation multiples.

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  • Zoetis
    June 2025

    Zoetis is well-positioned to benefit from the steady growth of the pet care industry, driven by increasing pet ownership, longer pet lifespans, and enhanced treatment options.

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  • United Rentals
    March 2025

    United Rentals is a leading player in the fragmented industrial rental equipment market, leveraging strategic acquisitions and a vast geographic footprint to dominate with a 15% market share, while benefiting from long-term demand driven by infrastructure needs.

    Read the full thesis

Letter archive · 6

2026

2025

Funds · 2

  • Wedgewood Partners5
  • Wedgewood Partners Large Cap Focused Strategy1

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