13F filing recap · Q1 2016

What did Wedgewood Partners buy in Q1 2016?

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

$5.51B

Positions

Estimated turnover

19.6%

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

SCHWSchwab Charles Corp$161.00Mreported value+5.75M shares USBUS Bancorp$4.62Mreported value+113.8K shares AEEAmeren Corp$1.63Mreported value+32.5K shares BXUSDThe Blackstone Group L.p.$1.12Mreported value+39.9K shares EDConsolidated Edison Inc$1.09Mreported value+14.3K shares VZVerizon Communications Inc$1.04Mreported value+19.2K shares PAYXPaychex, Inc.$980.0Kreported value+18.1K shares NLYAnnaly Capital Management, Inc.$777.0Kreported value+75.8K shares ECLEcolab Inc.$630.0Kreported value+5.7K shares JNJJohnson & Johnson$568.0Kreported value+5.3K shares TAT&T Inc.$447.0Kreported value+11.4K shares PEPPepsico, Inc.$338.0Kreported value+3.3K shares MNUSDManning & Napier, Inc.$272.0Kreported value+33.8K shares JJacobs Solutions Inc.$217.0Kreported value+5.0K shares

Increased positions

AAPLApple Inc.$541.91Mreported value+136.5K shares+2.8%PCLNBooking Holdings Inc$361.66Mreported value+49.6K shares+21.5%SRCLStericycle, Inc.$340.36Mreported value+536.0K shares+24.8%KHCKraft Heinz Co$318.31Mreported value+771.7K shares

Reduced positions

BRK.BBerkshire Hathaway Inc$533.80Mreported value-430.5K shares-10.3%CTSHCognizant Technology Solutions Corporation$377.35Mreported value-6.5K shares-0.1%SLBSlb Limited/nv$322.63Mreported value-382.8K shares-8.0%QCOMQualcomm Inc/de$304.27Mreported value-2.49M shares

Exited positions

CMICummins Inc$1.51Mprior reported value-17.2K shares-100.0%