Wedgewood Partners Q4 Letter: Purchases Of EMC And MTB

Wedgewood Partners Q4 Letter to shareholders

Review and Outlook

Our Composite (net-of-fees) gained approximately +10.9% during the fourth quarter.  This compares relatively favorably to the gains in the Standard & Poor’s 500 Index of +10.5% and +10.4% in the Russell 1000 Growth Index.  For the full year we are quite pleased to report that our Composite (net) gained +30.3%.  However, we are not so pleased to report that our performance for the year trailed the gains in . . .

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