“Old Dominion (ODFL)’s Business is Booming”

Wedgewood Partners, an investment management firm, published its second quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly portfolio return of 11.8% was recorded by the fund for the first half of 2021, outperforming the S&P 500 that delivered an 8.6% return for the same period, but slightly below the 11.9% gain of Russell 1000 Growth Index. You can view the fund’s top 5 holdings to have an idea about their top bets for 2021.

In the Q2 2021 investor letter of Wedgewood Partners, the fund mentioned Old Dominion Freight Line, Inc. (NASDAQ: ODFL), and discussed its stance on the firm. Old Dominion Freight Line, Inc. is a Thomasville, North Carolina-based transport company, that currently has a $29.4 billion market capitalization. ODFL delivered a 30.11% return since the beginning of the year, extending its 12-month revenues to 36.21%. The stock closed at $253.94 per share on July 16, 2021.

Here is what Wedgewood Partners…

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