David Rolfe - Wedgewood Partners 13F Activity & Position Changes (Q1 2016)

According to the SEC 13F filed on Aug 14, 2026, the Wedgewood Partners portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2016. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2016, the filing reported:

New Buys - Ameren Corporation, Ecolab Inc., Consolidated Edison, Inc., Johnson & Johnson, M&T Bank Corporation, and 4 more

Increases - Apple Inc., The Kraft Heinz Company, Stericycle, Inc.

Reductions - Berkshire Hathaway Inc. New, Cognizant Technology Solutions , LKQ Corporation, QUALCOMM Incorporated, Schlumberger N.V.

Complete Exits - Cummins Inc.

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2016	AAPL Apple Inc.	Apple Inc.	Buy	+136,456	+2.8%	$541.91K	4,972,136
Q1 2016	AEE Ameren Corporation	Ameren Corporation	Buy - Position Entry	+32,529	-	$1.63K	32,529
Q1 2016	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-430,495	-10.3%	$533.80K	3,762,367
Q1 2016	CMI Cummins Inc.	Cummins Inc.	Sell - Position Exit	-17,175	-100.0%	$0.00	-
Q1 2016	CTSH Cognizant Technology Solutions	Cognizant Technology Solutions	Sell	-6,534	-0.1%	$377.35K	6,018,418
Q1 2016	ECL Ecolab Inc.	Ecolab Inc.	Buy - Position Entry	+5,650	-	$630.00	5,650
Q1 2016	ED Consolidated Edison, Inc.	Consolidated Edison, Inc.	Buy - Position Entry	+14,250	-	$1.09K	14,250
Q1 2016	JNJ Johnson & Johnson	Johnson & Johnson	Buy - Position Entry	+5,250	-	$568.00	5,250
Q1 2016	KHC The Kraft Heinz Company	The Kraft Heinz Company	Buy	+771,693	+23.5%	$318.31K	4,051,880
Q1 2016	LKQ LKQ Corporation	LKQ Corporation	Sell	-348,598	-3.9%	$275.03K	8,613,464
Q1 2016	MTB M&T Bank Corporation	M&T Bank Corporation	Buy - Position Entry	+2,711	-	$301.00	2,711
Q1 2016	PAYX Paychex, Inc.	Paychex, Inc.	Buy - Position Entry	+18,150	-	$980.00	18,150
Q1 2016	PEP Pepsico, Inc.	Pepsico, Inc.	Buy - Position Entry	+3,300	-	$338.00	3,300
Q1 2016	QCOM QUALCOMM Incorporated	QUALCOMM Incorporated	Sell	-2,494,711	-29.5%	$304.27K	5,949,806
Q1 2016	SCHW Charles Schwab Corporation (The	Charles Schwab Corporation (The	Buy - Position Entry	+5,745,873	-	$161.00K	5,745,873
Q1 2016	SLB Schlumberger N.V.	Schlumberger N.V.	Sell	-382,785	-8.0%	$322.63K	4,374,627
Q1 2016	SRCL Stericycle, Inc.	Stericycle, Inc.	Buy	+535,963	+24.8%	$340.36K	2,697,212
Q1 2016	USB U.S. Bancorp	U.S. Bancorp	Buy - Position Entry	+113,760	-	$4.62K	113,760