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Wedgewood Partners

Mar 2025 → Sep 2026 · Publishes quarterly · 3 funds

Our archive holds 7 letters from Wedgewood Partners, behind 19 investment theses and positions in 18 companies. Every quote below is copied verbatim from the letter it came from.

Writes about

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7
Letters
18
Companies
19
Moves
19
Theses

2 strategies

Wedgewood Partners publishes a letter per strategy. Each one has its own page with what it holds, what it bought and what it wrote.

Returns as reported in each strategy’s latest letter, extracted automatically and not verified by us; one share class, in its own currency. Not investment advice. Past performance does not predict future returns.

Also filed under Wedgewood Partners.

What they bought and sold · 19 moves

  • TrimmedTaiwan Semiconductor Manufacturing
    September 2026
    “We have trimmed Taiwan Semi several times during this multi-year rally, as we limit our positions to 10% of portfolios.”
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  • ExitedCopart
    September 2026
    “We bought TJX Companies and sold Copart.”
    Read the letter
  • AddedHermès
    September 2026
    “We increased our positions in Amazon and Hermès.”
    Read the letter
  • TrimmedMeta Platforms
    September 2026
    “We trimmed our position in Meta Platforms.”
    Read the letter
  • New positionTJX Companies
    September 2026
    “We bought TJX Companies and sold Copart.”
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  • AddedAmazon
    September 2026
    “We increased our positions in Amazon and Hermès.”
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  • 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.”
    Read the letter
  • 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.”
    Read the letter
  • 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.”
    Read the letter
  • 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.”
    Read the letter
  • 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.”
    Read the letter
  • 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.”
    Read the letter
  • ExitedCDW
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW.”
    Read the letter
  • ExitedTractor Supply Company
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW.”
    Read the letter
  • 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.”
    Read the letter
  • 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.”
    Read the letter
  • ExitedZoetis
    June 2026
    “During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW.”
    Read the letter
  • 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 · 18

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

Theses · 19

  • Microsoft
    September 2026

    Microsoft is an excellent business with strong capital allocation, high ROIC, and further upside from AI-related capex returns.

    Read the full thesis
  • Meta Platforms
    September 2026

    Meta Platforms is benefiting from successful AI product launches, massive user adoption, and a track record of generating strong returns on new products.

    Read the full thesis
  • Apple
    September 2026

    Apple is investing heavily in silicon and hardware, and the market underestimates its long-term AI ecosystem differentiation.

    Read the full thesis
  • Motorola Solutions
    September 2026

    Motorola Solutions is a dominant, highly predictable mission-critical communications business with expanding higher-margin software and services.

    Read the full thesis
  • Amazon
    September 2026

    Amazon is compounding capital through AWS, advertising, and retail with accelerating profitability and high returns on capital.

    Read the full thesis
  • Old Dominion Freight Line
    September 2026

    Old Dominion Freight Line is the best operator in LTL, benefiting from capacity rationalization and potential double-digit earnings growth.

    Read the full thesis
  • Toll Brothers
    September 2026

    Toll Brothers has resilient affluent demand, healthy margins, and a land pipeline that can support double-digit growth.

    Read the full thesis
  • Hermès
    September 2026

    Hermès combines durable pricing, limited supply, and a long record of attractive growth at an appealing valuation.

    Read the full thesis
  • Taiwan Semiconductor Manufacturing
    September 2026

    Taiwan Semiconductor Manufacturing is the linchpin of the global AI buildout, with strong revenue growth and flawless execution.

    Read the full thesis
  • Silvus Technologies
    September 2026

    Silvus Technologies is a high-growth secure networking business with military-grade technology, strong demand, and attractive margins.

    Read the full thesis
  • 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

Letter archive · 7

2026

2025

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