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DR

David Rolfe Wedgewood Partners

AUM $484M
1-Year Est. Return 16.04%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+5.1%
1 Year Est. Return
+16.04%
3 Year Est. Return
+78.15%
5 Year Est. Return
+102.72%
10 Year Est. Return
+513.7%
AUM
$7.42B
AUM Growth
+$1.23B
Cap. Flow
+$892M
Cap. Flow %
12.03%
Top 10 Hldgs %
61.54%
Holding
21
New
1
Increased
16
Reduced
4
Closed
–

Top Buys

Rank Stock Value
1
CLB icon
Core Laboratories
CLB
+$292M
2
SLB icon
SLB Ltd
SLB
+$169M
3
NOV icon
NOV
NOV
+$168M
4
QCOM icon
Qualcomm
QCOM
+$118M
5
ESRX
Express Scripts Holding Company
ESRX
+$51.8M

Top Sells

Rank Stock Value
1
EMC
EMC CORPORATION
EMC
+$192M
2
AAPL icon
Apple
AAPL
+$61.4M
3
PRGO icon
Perrigo
PRGO
+$52M
4
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$34.2M

Sector Composition

Rank Sector Weight
1 Technology 24.93%
2 Financials 17.19%
3 Healthcare 14.55%
4 Energy 12.56%
5 Consumer Discretionary 12.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
QCOM icon
1
Qualcomm
QCOM
$169B
$614M 8.27%
8,253,896
+1,616,816
+24% +$118M
BRK.B icon
2
Berkshire Hathaway Class B
BRK.B
$1.06T
$600M 8.09%
3,997,425
-236,844
-6% -$34.2M
ESRX
3
DELISTED
Express Scripts Holding Company
ESRX
$561M 7.56%
6,620,076
+662,707
+11% +$51.8M
CTSH icon
4
Cognizant
CTSH
$27.9B
$521M 7.03%
9,901,736
+957,560
+11% +$47.8M
AAPL icon
5
Apple
AAPL
$4.51T
$476M 6.42%
17,256,248
-2,258,352
-12% -$61.4M
MTB icon
6
M&T Bank
MTB
$34.7B
$382M 5.16%
3,043,781
+392,800
+15% +$48.2M
TPR icon
7
Tapestry
TPR
$26B
$374M 5.04%
9,961,501
+1,427,563
+17% +$50.3M
SRCL
8
DELISTED
Stericycle Inc
SRCL
$372M 5.01%
2,835,367
+306,418
+12% +$38.6M
SLB icon
9
SLB Ltd
SLB
$79.9B
$353M 4.77%
4,138,543
+1,840,183
+80% +$169M
NOV icon
10
NOV
NOV
$7.28B
$311M 4.19%
4,746,336
+2,414,308
+104% +$168M
V icon
11
Visa
V
$693B
$292M 3.94%
4,459,268
+411,536
+10% +$24.8M
VAR
12
DELISTED
Varian Medical Systems, Inc.
VAR
$276M 3.72%
3,633,500
+403,720
+12% +$30M
CLB icon
13
Core Laboratories
CLB
$574M
$267M 3.6%
+2,220,875
New +$292M
GOOG icon
14
Alphabet (Google) Class C
GOOG
$4.18T
$266M 3.59%
10,079,738
+1,387,439
+16% +$37.2M
LKQ icon
15
LKQ Corp
LKQ
$6.52B
$265M 3.57%
9,422,474
+1,043,199
+12% +$29.1M
VRSK icon
16
Verisk Analytics
VRSK
$24.4B
$263M 3.55%
4,107,630
+664,813
+19% +$41.4M
MJN
17
DELISTED
Mead Johnson Nutrition Company
MJN
$263M 3.55%
2,615,792
+221,677
+9% +$22.1M
BKNG icon
18
Booking.com
BKNG
$158B
$254M 3.42%
5,562,025
+756,250
+16% +$34.2M
PRGO icon
19
Perrigo
PRGO
$1.98B
$243M 3.28%
1,455,681
-332,647
-19% -$52M
EMC
20
DELISTED
EMC CORPORATION
EMC
$238M 3.21%
7,995,923
-6,580,489
-45% -$192M
CMI icon
21
Cummins
CMI
$80.9B
$225M 3.04%
1,563,820
+202,080
+15% +$28.6M

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David Rolfe's Q4 2014 Portfolio in Review

As of Q4 2014, David Rolfe held 21 positions worth $7.42B, up 20% from $6.19B the previous quarter. Its ten largest holdings account for 62% of the portfolio.

David Rolfe deployed $892M of net new capital in Q4 2014, opening 1 new position and adding to 16 existing holdings. Its largest new stake was Core Laboratories: 2,220,875 shares worth $267M.

By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 29% a quarter earlier, followed by Financials and Healthcare.

On the sell side, the largest reduction was EMC CORPORATION, an estimated $192M trimmed.

  • David Rolfe's largest Q4 2014 buy was Core Laboratories: 2,220,875 shares worth $267M.
  • David Rolfe added most to SLB Ltd in Q4 2014, an estimated $169M increase.
  • David Rolfe's biggest Q4 2014 reduction was EMC CORPORATION, cutting an estimated $192M.
  • David Rolfe's ten largest holdings make up 62% of its $7.42B portfolio in Q4 2014.
  • David Rolfe opened 1 new position and closed 0 in Q4 2014.
  • David Rolfe's portfolio value rose 20% quarter-over-quarter to $7.42B.

Based on Wedgewood Partners's 13F filing for Q4 2014, filed 17 Feb 2015.