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Wedgewood Partners, an investment management company, released its first-quarter 2026 investor letter. A copy of the letter can be downloaded here. The Wedgewood Composite returned -6.3% (net) in the first quarter compared to the S&P 500’s -4.3%, the Russell 1000 Growth Index’s -9.8%, and the Russell 1000 Value Index’s 2.1% returns. The letter mentioned the ongoing war, highlighting the swift response of financial and commodities markets to military strikes and geopolitical commentary. Historically, oil shocks have consistently displayed a significant influence on global financial markets.  In addition, please check the Fund’s top five holdings to know its best picks in 2026.

In its first-quarter 2026 investor letter, Wedgewood Partners highlighted Visa Inc. (NYSE:V). Visa Inc. (NYSE:V) is a multinational financial services company known for its payment technology network that offers credit, debit, and prepaid card products and other services. On April 28, 2026, Visa Inc. (NYSE:V) closed at $309.30 per share. One-month return of Visa Inc. (NYSE:V) was 3.61%, and its shares lost 10.48% over the past 52 weeks. Visa Inc. (NYSE:V) has a market capitalization of $589.53 billion.

Wedgewood Partners stated the following regarding Visa Inc. (NYSE:V) in its Q1 2026 investor letter:

"Visa Inc. (NYSE:V) reported strong revenue and earnings-per-share growth of +15%, driven by solid consumer spending and the continued expansion of "value-added" services. Despite this fundamental strength, the market pressured shares, ostensibly due to potential regulatory and legislative headwinds. The White House recently backed a legislative amendment that could introduce incremental competition into the Mastercard/Visa duopoly in the United States. While a legal framework for competition is undoubtedly an incremental risk, we view the technological and practical execution of actual competition as far less of a threat. Furthermore, attempts to attach the amendment to recent legislation have failed, making it far from certain that this new competitive framework will see the light of day."

Visa Inc. (NYSE:V) ranks 9th on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 184 hedge fund portfolios held Visa Inc. (NYSE:V) at the end of the fourth quarter, up from 179 in the previous quarter. While we acknowledge the potential of Visa Inc. (NYSE:V) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we covered Visa Inc. (NYSE:V) and shared the list of stocks with the biggest share buybacks. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.