Wedgewood Partners Reports Q1 2026 Performance, Maintains Conviction in Alphabet

Wedgewood Partners has disclosed its portfolio results for the first quarter of 2026, providing a detailed look at how its composite performance tracked against the broader market. The firm's results reflect the ongoing volatility within growth-oriented equities during the start of the year. According to the investor letter, the Wedgewood Composite recorded a net return of -6.3% for the first quarter. This performance placed the firm behind the S&P 500, which declined by -4.3%, and significantly trailed the Russell 1000 Value Index, which managed a positive return of 2.1%. However, the firm found success relative to growth-specific benchmarks. The Wedgewood Composite outperformed the Russell 1000 Growth Index, which saw a steeper decline of -9.8% over the same period. This suggests that while the firm faced headwinds, its selection process provided a buffer compared to the broader growth sector. A key takeaway from the communication is the firm's continued commitment to Alphabet (GOOG). By identifying the tech giant as a long-term holding, Wedgewood Partners signals confidence in the company's fundamental value and market position despite short-term price fluctuations. For traders, the report underscores a divergence between value and growth indices in early 2026, while highlighting the persistence of institutional interest in dominant large-cap technology platforms.