Wedgewood Partners, an investment management company, released its "Focused SMID Cap Strategy" second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned -14.1% compared to a return of -17.0% for the Russell 2500 Index. Since inception, the fund returned 10.3% compared to 4.9% for its benchmark index. In addition, please check the fund's top five holdings to know its best picks in 2022. In the second quarter 2022 investor letter, Wedgewood Partners discussed stocks like Steven Madden, Ltd. (NASDAQ: SHOO ). Headquartered in Long Island City, New York, Steven Madden, Ltd. (NASDAQ:SHOO) designs and markets footwear and other fashion accessories. On September 28, 2022, Steven Madden, Ltd. (NASDAQ:SHOO) stock closed at $28.11 per share. One-month return of Steven Madden, Ltd. (NASDAQ:SHOO) was -3.14% and its shares lost 30.00% of their value over the last 52 weeks.