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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
+0.38%
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
$3.27B
AUM Growth
-$617M
Cap. Flow
-$619M
Cap. Flow %
-18.95%
Top 10 Hldgs %
63.18%
Holding
38
New
1
Increased
8
Reduced
26
Closed
1

Top Buys

Rank Stock Value
1
CELG
Celgene Corp
CELG
+$74.4M
2
FAST icon
Fastenal
FAST
+$52.5M
3
TSCO icon
Tractor Supply
TSCO
+$21.2M
4
ROST icon
Ross Stores
ROST
+$11.5M
5
CAFD
8point3 Energy Partners LP
CAFD
+$152K

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$78.6M
2
AAPL icon
Apple
AAPL
+$73.5M
3
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$72.7M
4
PYPL icon
PayPal
PYPL
+$68.6M
5
KHC icon
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
BRK.B icon
1
Berkshire Hathaway Class B
BRK.B
$1.06T
$296M 9.06%
1,747,455
-436,936
-20% -$72.7M
AAPL icon
2
Apple
AAPL
$4.51T
$248M 7.6%
6,890,724
-1,987,696
-22% -$73.5M
BKNG icon
3
Booking.com
BKNG
$158B
$224M 6.86%
2,992,525
-673,175
-18% -$49.4M
V icon
4
Visa
V
$693B
$209M 6.4%
2,227,827
-639,178
-22% -$59.3M
KHC icon
5
Kraft Heinz
KHC
$30.3B
$207M 6.33%
2,412,310
-684,088
-22% -$62M
GOOGL icon
6
Alphabet (Google) Class A
GOOGL
$4.22T
$200M 6.11%
4,293,880
-1,679,400
-28% -$78.6M
PYPL icon
7
PayPal
PYPL
$52.7B
$188M 5.75%
3,500,432
-1,396,029
-29% -$68.6M
QCOM icon
8
Qualcomm
QCOM
$169B
$181M 5.54%
3,273,233
-808,739
-20% -$45.2M
SLB icon
9
SLB Ltd
SLB
$79.9B
$160M 4.91%
2,432,953
-447,050
-16% -$32M
FAST icon
10
Fastenal
FAST
$58.8B
$151M 4.63%
13,895,368
+4,673,396
+51% +$52.5M
TSCO icon
11
Tractor Supply
TSCO
$18.2B
$139M 4.24%
12,783,255
+1,783,165
+16% +$21.2M
VRSK icon
12
Verisk Analytics
VRSK
$24.4B
$136M 4.17%
1,612,518
-442,067
-22% -$35.8M
CLB icon
13
Core Laboratories
CLB
$574M
$128M 3.91%
1,262,264
-313,394
-20% -$33.8M
SCHW
14
Charles Schwab
SCHW
$194B
$120M 3.68%
2,796,859
-841,178
-23% -$33.7M
CTSH icon
15
Cognizant
CTSH
$27.9B
$112M 3.44%
1,689,346
-630,915
-27% -$40.1M
ROST icon
16
Ross Stores
ROST
$76.7B
$110M 3.37%
1,905,965
+183,625
+11% +$11.5M
TJX icon
17
TJX Companies
TJX
$155B
$108M 3.32%
3,003,266
-624,064
-17% -$23.5M
THS
18
DELISTED
Treehouse Foods
THS
$106M 3.24%
1,294,463
-424,558
-25% -$34.7M
CELG
19
DELISTED
Celgene Corp
CELG
$104M 3.18%
799,402
+607,402
+316% +$74.4M
EW icon
20
Edwards Lifesciences
EW
$51.8B
$102M 3.12%
2,584,044
-827,172
-24% -$30.2M
GOOG icon
21
Alphabet (Google) Class C
GOOG
$4.18T
$20.7M 0.63%
455,860
-53,640
-11% -$2.46M
ESRX
22
DELISTED
Express Scripts Holding Company
ESRX
$4.08M 0.12%
63,850
-28,825
-31% -$1.81M
USB icon
23
US Bancorp
USB
$96.7B
$3.99M 0.12%
76,900
-750
-1% -$38.6K
BX icon
24
Blackstone
BX
$108B
$1.54M 0.05%
46,075
+750
+2% +$23.5K
AEE icon
25
Ameren
AEE
$29.4B
$1M 0.03%
18,375
-250
-1% -$13.9K
1
2

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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.