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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
+2.54%
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
$4.1B
AUM Growth
-$674M
Cap. Flow
-$758M
Cap. Flow %
-18.51%
Top 10 Hldgs %
65.48%
Holding
37
New
2
Increased
8
Reduced
25
Closed
1

Top Buys

Rank Stock Value
1
TSCO icon
Tractor Supply
TSCO
+$110M
2
FAST icon
Fastenal
FAST
+$109M
3
THS
Treehouse Foods
THS
+$4.64M
4
V icon
Visa
V
+$3.74M
5
BX icon
Blackstone
BX
+$90.2K

Top Sells

Rank Stock Value
1
SRCL
Stericycle Inc
SRCL
+$205M
2
CTSH icon
Cognizant
CTSH
+$152M
3
ESRX
Express Scripts Holding Company
ESRX
+$95.8M
4
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$92.1M
5
AAPL icon
Apple
AAPL
+$68.1M

Sector Composition

Rank Sector Weight
1 Financials 24.11%
2 Technology 18.1%
3 Consumer Discretionary 17.49%
4 Consumer Staples 13.08%
5 Energy 11.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAPL icon
1
Apple
AAPL
$4.51T
$408M 9.97%
14,097,336
-2,400,624
-15% -$68.1M
BRK.B icon
2
Berkshire Hathaway Class B
BRK.B
$1.06T
$406M 9.91%
2,490,758
-598,403
-19% -$92.1M
KHC icon
3
Kraft Heinz
KHC
$30.3B
$303M 7.39%
3,465,043
-126,660
-4% -$10.8M
BKNG icon
4
Booking.com
BKNG
$158B
$271M 6.62%
4,623,150
-863,950
-16% -$51.6M
SLB icon
5
SLB Ltd
SLB
$79.9B
$267M 6.52%
3,181,718
-559,383
-15% -$45.8M
V icon
6
Visa
V
$693B
$254M 6.2%
3,253,380
+46,471
+1% +$3.74M
GOOGL icon
7
Alphabet (Google) Class A
GOOGL
$4.22T
$206M 5.02%
5,192,420
-755,080
-13% -$30.2M
CLB icon
8
Core Laboratories
CLB
$574M
$198M 4.82%
1,646,324
-246,756
-13% -$27.3M
QCOM icon
9
Qualcomm
QCOM
$169B
$190M 4.65%
2,920,979
-540,165
-16% -$36.3M
VRSK icon
10
Verisk Analytics
VRSK
$24.4B
$180M 4.39%
2,213,488
-485,245
-18% -$39.8M
SCHW
11
Charles Schwab
SCHW
$194B
$179M 4.37%
4,534,145
-715,949
-14% -$25.6M
PYPL icon
12
PayPal
PYPL
$52.7B
$143M 3.48%
3,612,377
-540,561
-13% -$21.7M
CTSH icon
13
Cognizant
CTSH
$27.9B
$142M 3.46%
2,526,738
-2,849,402
-53% -$152M
THS
14
DELISTED
Treehouse Foods
THS
$130M 3.17%
1,800,662
+60,766
+3% +$4.64M
ROST icon
15
Ross Stores
ROST
$76.7B
$121M 2.95%
1,840,244
-313,154
-15% -$20.5M
ESRX
16
DELISTED
Express Scripts Holding Company
ESRX
$119M 2.9%
1,729,027
-1,337,363
-44% -$95.8M
TSCO icon
17
Tractor Supply
TSCO
$18.2B
$118M 2.88%
+7,780,870
New +$110M
LKQ icon
18
LKQ Corp
LKQ
$6.52B
$117M 2.87%
3,830,200
-611,451
-14% -$19.9M
FAST icon
19
Fastenal
FAST
$58.8B
$117M 2.86%
+9,974,716
New +$109M
MJN
20
DELISTED
Mead Johnson Nutrition Company
MJN
$103M 2.51%
1,451,913
-262,106
-15% -$19.5M
TJX icon
21
TJX Companies
TJX
$155B
$88.4M 2.16%
2,352,808
-342,694
-13% -$13M
GOOG icon
22
Alphabet (Google) Class C
GOOG
$4.18T
$23M 0.56%
596,760
-229,160
-28% -$8.93M
USB icon
23
US Bancorp
USB
$96.7B
$4.61M 0.11%
89,800
-7,375
-8% -$351K
BX icon
24
Blackstone
BX
$108B
$1.23M 0.03%
45,325
+3,475
+8% +$90.2K
VZ icon
25
Verizon
VZ
$205B
$1.06M 0.03%
19,865
+890
+5% +$44.5K
1
2

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David Rolfe's Q4 2016 Portfolio in Review

As of Q4 2016, David Rolfe held 37 positions worth $4.1B, down 14% from $4.77B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

David Rolfe withdrew a net $758M in Q4 2016, closing 1 position and reducing 25 holdings. Its most notable exit was Stericycle Inc, an estimated $205M position sold in full.

By sector, the portfolio is most concentrated in Financials at 24% of assets, up from 22% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, David Rolfe opened a new position in Tractor Supply worth $118M.

  • David Rolfe's largest Q4 2016 buy was Tractor Supply: 7,780,870 shares worth $118M.
  • David Rolfe added most to Treehouse Foods in Q4 2016, an estimated $4.64M increase.
  • David Rolfe's biggest Q4 2016 reduction was Cognizant, cutting an estimated $152M.
  • David Rolfe fully exited Stericycle Inc in Q4 2016, selling an estimated $205M.
  • David Rolfe's ten largest holdings make up 65% of its $4.1B portfolio in Q4 2016.
  • David Rolfe opened 2 new positions and closed 1 in Q4 2016.
  • David Rolfe's portfolio value fell 14% quarter-over-quarter to $4.1B.

Based on Wedgewood Partners's 13F filing for Q4 2016, filed 14 Feb 2017.