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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
+13.25%
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
$672M
AUM Growth
+$40M
Cap. Flow
-$36.3M
Cap. Flow %
-5.4%
Top 10 Hldgs %
65.19%
Holding
38
New
3
Increased
1
Reduced
26
Closed
–

Top Buys

Rank Stock Value
1
PGR icon
Progressive
PGR
+$12.7M
2
KHC icon
Kraft Heinz
KHC
+$211K
3
FITB
Fifth Third Bancorp
FITB
+$189K
4
T icon
AT&T
T
+$157K

Top Sells

Rank Stock Value
1
TSCO icon
Tractor Supply
TSCO
+$11.2M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$3.46M
3
META icon
Meta Platforms (Facebook)
META
+$3.41M
4
AAPL icon
Apple
AAPL
+$3.27M
5
EW icon
Edwards Lifesciences
EW
+$3.05M

Sector Composition

Rank Sector Weight
1 Technology 28.21%
2 Financials 22.44%
3 Communication Services 19.75%
4 Healthcare 14.88%
5 Consumer Discretionary 9.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAPL icon
1
Apple
AAPL
$4.51T
$59.4M 8.84%
447,836
-27,197
-6% -$3.27M
EW icon
2
Edwards Lifesciences
EW
$51.8B
$54.3M 8.07%
594,956
-36,762
-6% -$3.05M
PYPL icon
3
PayPal
PYPL
$52.7B
$50.7M 7.53%
216,286
-14,415
-6% -$2.99M
META icon
4
Meta Platforms (Facebook)
META
$1.4T
$46.4M 6.9%
169,700
-12,436
-7% -$3.41M
GOOGL icon
5
Alphabet (Google) Class A
GOOGL
$4.22T
$45.1M 6.71%
514,740
-41,100
-7% -$3.46M
V icon
6
Visa
V
$693B
$43.8M 6.51%
200,214
-11,935
-6% -$2.44M
MSI icon
7
Motorola Solutions
MSI
$79.5B
$37.7M 5.61%
221,659
-15,591
-7% -$2.61M
TSCO icon
8
Tractor Supply
TSCO
$18.2B
$36.2M 5.38%
1,286,655
-399,325
-24% -$11.2M
MSFT icon
9
Microsoft
MSFT
$3.59T
$32.8M 4.88%
147,598
-13,098
-8% -$2.82M
EA
10
DELISTED
Electronic Arts
EA
$32M 4.75%
222,574
-12,883
-5% -$1.66M
KEYS icon
11
Keysight
KEYS
$53.8B
$31.9M 4.74%
241,494
-15,416
-6% -$1.78M
SBUX icon
12
Starbucks
SBUX
$122B
$30.5M 4.54%
285,551
-19,497
-6% -$1.86M
CPRT icon
13
Copart
CPRT
$31.3B
$28.1M 4.18%
882,984
-59,768
-6% -$1.74M
CDW icon
14
CDW
CDW
$17.2B
$27.4M 4.08%
208,064
-15,275
-7% -$2M
BMY icon
15
Bristol-Myers Squibb
BMY
$137B
$25.7M 3.82%
414,057
-25,262
-6% -$1.55M
FRC
16
DELISTED
First Republic Bank
FRC
$19.2M 2.86%
131,008
-8,819
-6% -$1.15M
ALC icon
17
Alcon
ALC
$35.6B
$19.1M 2.84%
289,498
-16,162
-5% -$1.01M
SPGI icon
18
S&P Global
SPGI
$127B
$15.4M 2.29%
46,806
-2,679
-5% -$904K
PGR icon
19
Progressive
PGR
$127B
$13.3M 1.97%
+134,104
New +$12.7M
GOOG icon
20
Alphabet (Google) Class C
GOOG
$4.18T
$7.35M 1.09%
83,920
-160
-0.2% -$13.5K
BRK.B icon
21
Berkshire Hathaway Class B
BRK.B
$1.06T
$4.77M 0.71%
20,579
-821
-4% -$181K
USB icon
22
US Bancorp
USB
$96.7B
$2.44M 0.36%
52,293
-500
-0.9% -$21.2K
BX icon
23
Blackstone
BX
$108B
$1.08M 0.16%
16,750
-1,750
-9% -$102K
T icon
24
AT&T
T
$173B
$1.08M 0.16%
49,650
+7,282
+17% +$157K
JNJ icon
25
Johnson & Johnson
JNJ
$651B
$991K 0.15%
6,300
– –
1
2

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David Rolfe's Q4 2020 Portfolio in Review

As of Q4 2020, David Rolfe held 38 positions worth $672M, up 6.3% from $632M the previous quarter. Its ten largest holdings account for 65% of the portfolio.

David Rolfe withdrew a net $36.3M in Q4 2020, reducing 26 holdings. Its largest reduction was Tractor Supply, cutting an estimated $11.2M.

By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 28% a quarter earlier, followed by Financials and Communication Services.

Against the trend, David Rolfe opened a new position in Progressive worth $13.3M.

  • David Rolfe's largest Q4 2020 buy was Progressive: 134,104 shares worth $13.3M.
  • David Rolfe added most to AT&T in Q4 2020, an estimated $157K increase.
  • David Rolfe's biggest Q4 2020 reduction was Tractor Supply, cutting an estimated $11.2M.
  • David Rolfe's ten largest holdings make up 65% of its $672M portfolio in Q4 2020.
  • David Rolfe opened 3 new positions and closed 0 in Q4 2020.
  • David Rolfe's portfolio value rose 6.3% quarter-over-quarter to $672M.

Based on Wedgewood Partners's 13F filing for Q4 2020, filed 12 Feb 2021.