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 |
Alphabet (Google) Class C
GOOG
|
+$45M |
| 2 |
Qualcomm
QCOM
|
+$35.8M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$35.3M |
| 4 |
M&T Bank
MTB
|
+$33M |
| 5 |
NOV
NOV
|
+$22.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Perrigo
PRGO
|
+$113M |
| 2 |
Core Laboratories
CLB
|
+$21.7M |
| 3 |
Visa
V
|
+$8.23M |
| 4 |
ESRX
Express Scripts Holding Company
ESRX
|
+$7.11M |
| 5 |
Cognizant
CTSH
|
+$2.35M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.24% |
| 2 | Financials | 18.07% |
| 3 | Energy | 13.36% |
| 4 | Consumer Discretionary | 13.14% |
| 5 | Healthcare | 12.61% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Qualcomm
QCOM
$169B
| $629M | 8.43% |
10,046,809
+525,267
| +6% | +$35.8M |
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.06T
| $590M | 7.9% |
4,334,428
+247,474
| +6% | +$35.3M |
|
|
ESRX
3
DELISTED
Express Scripts Holding Company
ESRX
| $582M | 7.79% |
6,541,035
-81,407
| -1% | -$7.11M |
|
4
Apple
AAPL
$4.51T
| $548M | 7.33% |
17,466,236
+70,064
| +0.4% | +$2.24M |
|
|
5
M&T Bank
MTB
$34.7B
| $471M | 6.31% |
3,769,209
+267,711
| +8% | +$33M |
|
|
6
Cognizant
CTSH
$27.9B
| $469M | 6.28% |
7,672,080
-37,429
| -0.5% | -$2.35M |
|
7
Tapestry
TPR
$26B
| $379M | 5.07% |
10,941,844
+505,644
| +5% | +$19.3M |
|
8
SLB Ltd
SLB
$79.9B
| $373M | 4.99% |
4,323,129
+60,505
| +1% | +$5.46M |
|
|
9
NOV
NOV
$7.28B
| $357M | 4.79% |
7,401,742
+440,573
| +6% | +$22.6M |
|
|
10
Alphabet (Google) Class C
GOOG
$4.18T
| $325M | 4.36% |
12,179,180
+1,681,397
| +16% | +$45M |
|
11
LKQ Corp
LKQ
$6.52B
| $321M | 4.31% |
10,629,217
+611,962
| +6% | +$17M |
|
12
Verisk Analytics
VRSK
$24.4B
| $304M | 4.07% |
4,179,066
-15,718
| -0.4% | -$1.16M |
|
|
13
Visa
V
$693B
| $288M | 3.86% |
4,295,301
-121,510
| -3% | -$8.23M |
|
14
Booking.com
BKNG
$158B
| $281M | 3.76% |
6,101,125
+297,475
| +5% | +$14.2M |
|
|
15
Core Laboratories
CLB
$574M
| $268M | 3.59% |
2,349,692
-179,127
| -7% | -$21.7M |
|
|
MJN
16
DELISTED
Mead Johnson Nutrition Company
MJN
| $246M | 3.3% |
2,730,152
+135,986
| +5% | +$13.1M |
|
|
EMC
17
DELISTED
EMC CORPORATION
EMC
| $239M | 3.2% |
9,057,717
+823,210
| +10% | +$22M |
|
18
Cummins
CMI
$80.9B
| $228M | 3.05% |
1,735,670
+97,433
| +6% | +$13.4M |
|
|
SRCL
19
DELISTED
Stericycle Inc
SRCL
| $209M | 2.8% |
1,561,450
+69,779
| +5% | +$9.56M |
|
|
VAR
20
DELISTED
Varian Medical Systems, Inc.
VAR
| $195M | 2.61% |
2,631,841
+182,451
| +7% | +$14.3M |
|
|
21
Perrigo
PRGO
$1.98B
| $165M | 2.21% |
892,486
-593,148
| -40% | -$113M |
|
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David Rolfe's Q2 2015 Portfolio in Review
As of Q2 2015, David Rolfe held 21 positions worth $7.47B, up 0.21% from $7.45B the previous quarter. Its ten largest holdings account for 63% of the portfolio.
Trading was light in Q2 2015: portfolio turnover was 0%. David Rolfe opened no new positions and made no exits, leaving the 21-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 25% a quarter earlier, followed by Financials and Energy.
- David Rolfe added most to Alphabet (Google) Class C in Q2 2015, an estimated $45M increase.
- David Rolfe's biggest Q2 2015 reduction was Perrigo, cutting an estimated $113M.
- David Rolfe's ten largest holdings make up 63% of its $7.47B portfolio in Q2 2015.
- David Rolfe opened 0 new positions and closed 0 in Q2 2015.
- David Rolfe's portfolio value rose 0.21% quarter-over-quarter to $7.47B.
Based on Wedgewood Partners's 13F filing for Q2 2015, filed 14 Aug 2015.