Wedgewood Partners Q2 2026 Top Performance Contributors

Top performance contributors for the second quarter include Taiwan Semiconductor Manufacturing, Alphabet, United Rentals, Apple, and Visa. Google Search and Cloud continue to accelerate, with Search posting 19% revenue growth and Cloud posting 63% revenue growth, helping drive 30% growth in operating income. Microsoft ended the most recent quarter with average gross assets of more than $585 billion (trailing two years), up 22%, yet generated $170 billion in gross cash flow over the prior four quarters, up 27% from a year ago. During the quarter, Amazon grew revenue by 17% and operating income by 30%. Revenues grew by more than 40% (in USD), on top of 40% growth last year.

The following segment was excerpted from the Wedgewood Partners Q2 2026 Client Letter. Top performance contributors for the second quarter include Taiwan Semiconductor Manufacturing ( TSM ), Alphabet ( GOOGL ), United Rentals ( URI