David Rolfe Wedgewood Partners
David Rolfe is the chief investment officer of Wedgewood Partners, known for a concentrated growth portfolio of large-capitalization companies. The firm emphasizes quality franchises, high returns on capital, and limited diversification across only a few dozen names at most. Rolfe’s commentaries are followed by investors who prefer focused growth ownership over broad index replication.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CELG
Celgene Corp
CELG
|
+$74.4M |
| 2 |
Fastenal
FAST
|
+$52.5M |
| 3 |
Tractor Supply
TSCO
|
+$21.2M |
| 4 |
Ross Stores
ROST
|
+$11.5M |
| 5 |
CAFD
8point3 Energy Partners LP
CAFD
|
+$152K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$78.6M |
| 2 |
Apple
AAPL
|
+$73.5M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$72.7M |
| 4 |
PayPal
PYPL
|
+$68.6M |
| 5 |
Kraft Heinz
KHC
|
+$62M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 25.07% |
| 2 | Consumer Discretionary | 17.79% |
| 3 | Technology | 16.59% |
| 4 | Consumer Staples | 9.57% |
| 5 | Energy | 8.83% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Verizon
VZ
$205B
| $951K | 0.03% |
21,300
+1,325
| +7% | +$61.7K |
|
27
Consolidated Edison
ED
$39.3B
| $925K | 0.03% |
11,450
-1,450
| -11% | -$117K |
|
28
Johnson & Johnson
JNJ
$651B
| $760K | 0.02% |
5,750
+500
| +10% | +$63.8K |
|
29
Ecolab
ECL
$78.9B
| $750K | 0.02% |
5,650
-72
| -1% | -$9.3K |
|
30
Paychex
PAYX
$44.3B
| $677K | 0.02% |
11,900
-3,625
| -23% | -$213K |
|
31
AT&T
T
$173B
| $427K | 0.01% |
14,994
+2,317
| +18% | +$68.3K |
|
32
Annaly Capital Management
NLY
$17.5B
| $381K | 0.01% |
7,906
-8,563
| -52% | -$404K |
|
33
NOV
NOV
$7.28B
| $340K | 0.01% |
10,325
-250
| -2% | -$8.63K |
|
34
PepsiCo
PEP
$196B
| $303K | 0.01% |
2,625
-590
| -18% | -$67.7K |
|
35
Boeing
BA
$169B
| $247K | 0.01% |
1,250
| – | – |
|
|
MN
36
DELISTED
MANNING & NAPIER, INC.
MN
| $243K | 0.01% |
56,000
| – | – |
|
|
CAFD
37
DELISTED
8point3 Energy Partners LP
CAFD
| $173K | 0.01% |
+11,500
| New | +$152K |
|
38
Tapestry
TPR
$26B
| – | – |
-12,250
| Closed | -$506K |
|
Similar funds
David Rolfe's Q2 2017 Portfolio in Review
As of Q2 2017, David Rolfe held 38 positions worth $3.27B, down 16% from $3.88B the previous quarter. Its ten largest holdings account for 63% of the portfolio.
David Rolfe withdrew a net $619M in Q2 2017, closing 1 position and reducing 26 holdings. Its most notable exit was Tapestry, an estimated $506K position sold in full.
By sector, the portfolio is most concentrated in Financials at 25% of assets, down from 25% a quarter earlier, followed by Consumer Discretionary and Technology.
Against the trend, David Rolfe opened a new position in 8point3 Energy Partners LP worth $173K.
- David Rolfe's largest Q2 2017 buy was 8point3 Energy Partners LP: 11,500 shares worth $173K.
- David Rolfe added most to Celgene Corp in Q2 2017, an estimated $74.4M increase.
- David Rolfe's biggest Q2 2017 reduction was Alphabet (Google) Class A, cutting an estimated $78.6M.
- David Rolfe fully exited Tapestry in Q2 2017, selling an estimated $506K.
- David Rolfe's ten largest holdings make up 63% of its $3.27B portfolio in Q2 2017.
- David Rolfe opened 1 new position and closed 1 in Q2 2017.
- David Rolfe's portfolio value fell 16% quarter-over-quarter to $3.27B.
Based on Wedgewood Partners's 13F filing for Q2 2017, filed 14 Aug 2017.