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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
+5.17%
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
$2.93B
AUM Growth
-$333M
Cap. Flow
-$465M
Cap. Flow %
-15.85%
Top 10 Hldgs %
63.65%
Holding
39
New
2
Increased
6
Reduced
26
Closed
1

Top Buys

Rank Stock Value
1
EW icon
Edwards Lifesciences
EW
+$55.1M
2
TSCO icon
Tractor Supply
TSCO
+$12M
3
FAST icon
Fastenal
FAST
+$9.94M
4
ROST icon
Ross Stores
ROST
+$7.16M
5
BP icon
BP
BP
+$385K

Top Sells

Rank Stock Value
1
THS
Treehouse Foods
THS
+$94.6M
2
KHC icon
Kraft Heinz
KHC
+$61M
3
BKNG icon
Booking.com
BKNG
+$52.4M
4
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$50.7M
5
PYPL icon
PayPal
PYPL
+$46.6M

Sector Composition

Rank Sector Weight
1 Financials 25.34%
2 Consumer Discretionary 19.44%
3 Technology 16.38%
4 Industrials 9.74%
5 Energy 8.95%
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
$268M 9.13%
1,460,308
-287,147
-16% -$50.7M
AAPL icon
2
Apple
AAPL
$4.51T
$224M 7.64%
5,812,272
-1,078,452
-16% -$41.8M
V icon
3
Visa
V
$693B
$193M 6.6%
1,838,646
-389,181
-17% -$39.5M
GOOGL icon
4
Alphabet (Google) Class A
GOOGL
$4.22T
$188M 6.41%
3,859,920
-433,960
-10% -$20.6M
TSCO icon
5
Tractor Supply
TSCO
$18.2B
$175M 5.97%
13,837,965
+1,054,710
+8% +$12M
PYPL icon
6
PayPal
PYPL
$52.7B
$174M 5.94%
2,722,126
-778,306
-22% -$46.6M
FAST icon
7
Fastenal
FAST
$58.8B
$169M 5.76%
14,817,580
+922,212
+7% +$9.94M
BKNG icon
8
Booking.com
BKNG
$158B
$169M 5.75%
2,302,400
-690,125
-23% -$52.4M
QCOM icon
9
Qualcomm
QCOM
$169B
$156M 5.32%
3,008,360
-264,873
-8% -$14M
SLB icon
10
SLB Ltd
SLB
$79.9B
$150M 5.13%
2,154,457
-278,496
-11% -$18.4M
EW icon
11
Edwards Lifesciences
EW
$51.8B
$147M 5.01%
4,029,141
+1,445,097
+56% +$55.1M
ROST icon
12
Ross Stores
ROST
$76.7B
$131M 4.47%
2,030,449
+124,484
+7% +$7.16M
KHC icon
13
Kraft Heinz
KHC
$30.3B
$130M 4.45%
1,682,599
-729,711
-30% -$61M
VRSK icon
14
Verisk Analytics
VRSK
$24.4B
$117M 3.98%
1,400,966
-211,552
-13% -$17.5M
CLB icon
15
Core Laboratories
CLB
$574M
$112M 3.8%
1,130,193
-132,071
-10% -$12.8M
SCHW
16
Charles Schwab
SCHW
$194B
$102M 3.47%
2,327,760
-469,099
-17% -$19.5M
CTSH icon
17
Cognizant
CTSH
$27.9B
$99.6M 3.4%
1,373,146
-316,200
-19% -$22.2M
CELG
18
DELISTED
Celgene Corp
CELG
$98.7M 3.37%
676,776
-122,626
-15% -$16.7M
TJX icon
19
TJX Companies
TJX
$155B
$95M 3.24%
2,576,030
-427,236
-14% -$15.2M
GOOG icon
20
Alphabet (Google) Class C
GOOG
$4.18T
$18M 0.61%
375,080
-80,780
-18% -$3.76M
USB icon
21
US Bancorp
USB
$96.7B
$3.93M 0.13%
73,363
-3,537
-5% -$185K
ESRX
22
DELISTED
Express Scripts Holding Company
ESRX
$2.97M 0.1%
46,900
-16,950
-27% -$1.05M
BX icon
23
Blackstone
BX
$108B
$1.52M 0.05%
45,575
-500
-1% -$16.5K
VZ icon
24
Verizon
VZ
$205B
$1.08M 0.04%
21,875
+575
+3% +$27.1K
AEE icon
25
Ameren
AEE
$29.4B
$990K 0.03%
17,125
-1,250
-7% -$72.2K
1
2

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David Rolfe's Q3 2017 Portfolio in Review

As of Q3 2017, David Rolfe held 39 positions worth $2.93B, down 10% from $3.27B the previous quarter. Its ten largest holdings account for 64% of the portfolio.

David Rolfe withdrew a net $465M in Q3 2017, closing 1 position and reducing 26 holdings. Its most notable exit was NOV, an estimated $340K position sold in full.

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

Against the trend, David Rolfe opened a new position in BP worth $419K.

  • David Rolfe's largest Q3 2017 buy was BP: 12,114 shares worth $419K.
  • David Rolfe added most to Edwards Lifesciences in Q3 2017, an estimated $55.1M increase.
  • David Rolfe's biggest Q3 2017 reduction was Treehouse Foods, cutting an estimated $94.6M.
  • David Rolfe fully exited NOV in Q3 2017, selling an estimated $340K.
  • David Rolfe's ten largest holdings make up 64% of its $2.93B portfolio in Q3 2017.
  • David Rolfe opened 2 new positions and closed 1 in Q3 2017.
  • David Rolfe's portfolio value fell 10% quarter-over-quarter to $2.93B.

Based on Wedgewood Partners's 13F filing for Q3 2017, filed 14 Nov 2017.