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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
+6.22%
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
$650M
AUM Growth
-$22.8M
Cap. Flow
-$55M
Cap. Flow %
-8.47%
Top 10 Hldgs %
61.88%
Holding
40
New
2
Increased
1
Reduced
27
Closed
2

Top Buys

Rank Stock Value
1
ODFL icon
Old Dominion Freight Line
ODFL
+$14.2M
2
BKNG icon
Booking.com
BKNG
+$12M
3
PGR icon
Progressive
PGR
+$9.99M

Top Sells

Rank Stock Value
1
BMY icon
Bristol-Myers Squibb
BMY
+$21M
2
PYPL icon
PayPal
PYPL
+$14.2M
3
V icon
Visa
V
+$11.2M
4
EW icon
Edwards Lifesciences
EW
+$6.85M
5
AAPL icon
Apple
AAPL
+$6.69M

Sector Composition

Rank Sector Weight
1 Technology 28.51%
2 Financials 21.29%
3 Communication Services 20.7%
4 Consumer Discretionary 12.56%
5 Healthcare 10.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GOOGL icon
1
Alphabet (Google) Class A
GOOGL
$4.22T
$49M 7.55%
475,380
-39,360
-8% -$3.88M
AAPL icon
2
Apple
AAPL
$4.51T
$48.3M 7.44%
395,692
-52,144
-12% -$6.69M
META icon
3
Meta Platforms (Facebook)
META
$1.4T
$46.6M 7.17%
158,167
-11,533
-7% -$3.11M
EW icon
4
Edwards Lifesciences
EW
$51.8B
$43M 6.62%
513,888
-81,068
-14% -$6.85M
TSCO icon
5
Tractor Supply
TSCO
$18.2B
$39.7M 6.11%
1,121,250
-165,405
-13% -$5.28M
MSI icon
6
Motorola Solutions
MSI
$79.5B
$38.9M 5.99%
206,920
-14,739
-7% -$2.63M
PYPL icon
7
PayPal
PYPL
$52.7B
$38.8M 5.98%
159,909
-56,377
-26% -$14.2M
MSFT icon
8
Microsoft
MSFT
$3.59T
$33.2M 5.11%
140,771
-6,827
-5% -$1.58M
KEYS icon
9
Keysight
KEYS
$53.8B
$32.3M 4.97%
225,108
-16,386
-7% -$2.32M
CDW icon
10
CDW
CDW
$17.2B
$32.1M 4.95%
193,796
-14,268
-7% -$2.13M
V icon
11
Visa
V
$693B
$31.1M 4.79%
146,874
-53,340
-27% -$11.2M
SBUX icon
12
Starbucks
SBUX
$122B
$29.3M 4.51%
268,024
-17,527
-6% -$1.84M
EA
13
DELISTED
Electronic Arts
EA
$28.3M 4.35%
208,857
-13,717
-6% -$1.9M
PGR icon
14
Progressive
PGR
$127B
$23.3M 3.59%
244,067
+109,963
+82% +$9.99M
CPRT icon
15
Copart
CPRT
$31.3B
$22.4M 3.45%
825,364
-57,620
-7% -$1.62M
FRC
16
DELISTED
First Republic Bank
FRC
$20.4M 3.14%
122,472
-8,536
-7% -$1.38M
ALC icon
17
Alcon
ALC
$35.6B
$19.1M 2.94%
272,137
-17,361
-6% -$1.23M
ODFL icon
18
Old Dominion Freight Line
ODFL
$42.8B
$15.9M 2.45%
+132,468
New +$14.2M
SPGI icon
19
S&P Global
SPGI
$127B
$15.5M 2.38%
43,798
-3,008
-6% -$1M
BKNG icon
20
Booking.com
BKNG
$158B
$12.6M 1.94%
+135,025
New +$12M
GOOG icon
21
Alphabet (Google) Class C
GOOG
$4.18T
$8.54M 1.31%
82,540
-1,380
-2% -$137K
BRK.B icon
22
Berkshire Hathaway Class B
BRK.B
$1.06T
$5.17M 0.8%
20,250
-329
-2% -$79.9K
BMY icon
23
Bristol-Myers Squibb
BMY
$137B
$4.79M 0.74%
75,835
-338,222
-82% -$21M
USB icon
24
US Bancorp
USB
$96.7B
$2.79M 0.43%
50,543
-1,750
-3% -$87.4K
T icon
25
AT&T
T
$173B
$1.12M 0.17%
48,988
-662
-1% -$14.6K
1
2

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David Rolfe's Q1 2021 Portfolio in Review

As of Q1 2021, David Rolfe held 40 positions worth $650M, down 3.4% from $672M the previous quarter. Its ten largest holdings account for 62% of the portfolio.

David Rolfe withdrew a net $55M in Q1 2021, closing 2 positions and reducing 27 holdings. Its most notable exit was Tapestry, an estimated $411K position sold in full.

By sector, the portfolio is most concentrated in Technology at 29% of assets, up from 28% a quarter earlier, followed by Financials and Communication Services.

Against the trend, David Rolfe opened a new position in Old Dominion Freight Line worth $15.9M.

  • David Rolfe's largest Q1 2021 buy was Old Dominion Freight Line: 132,468 shares worth $15.9M.
  • David Rolfe added most to Progressive in Q1 2021, an estimated $9.99M increase.
  • David Rolfe's biggest Q1 2021 reduction was Bristol-Myers Squibb, cutting an estimated $21M.
  • David Rolfe fully exited Tapestry in Q1 2021, selling an estimated $411K.
  • David Rolfe's ten largest holdings make up 62% of its $650M portfolio in Q1 2021.
  • David Rolfe opened 2 new positions and closed 2 in Q1 2021.
  • David Rolfe's portfolio value fell 3.4% quarter-over-quarter to $650M.

Based on Wedgewood Partners's 13F filing for Q1 2021, filed 17 May 2021.