13F filing recap · Q2 2014

What did Wedgewood Partners buy in Q2 2014?

Reported stock-position changes between this filing and the previous one. US-listed stocks across every Wedgewood account, including accounts that belong to no fund below.

Stock value

$5.73B

Positions

Estimated turnover

25.2%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

GOOGLAlphabet Inc.$129.07Mreported value+220.8K shares DNOWDnow Inc.$17.34Mreported value+478.9K shares

Increased positions

AAPLApple Inc.$560.06Mreported value+5.07M shares+529.5%QCOMQualcomm Inc/de$387.90Mreported value+220.7K shares+4.7%ESRXExpress Scripts Holding Co$383.16Mreported value+566.8K shares+11.4%EMCEmc Corp$367.86Mreported value+1.09M shares

Reduced positions

BRK.BBerkshire Hathaway Inc$512.34Mreported value-299.7K shares-6.9%CMICummins Inc$185.48Mreported value-575.1K shares-32.4%

Exited positions

GILDGilead Sciences, Inc.$135.15Mprior reported value-1.91M shares-100.0%