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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
+2.67%
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
$709M
AUM Growth
+$19.2M
Cap. Flow
+$1.94M
Cap. Flow %
0.27%
Top 10 Hldgs %
61.58%
Holding
41
New
1
Increased
3
Reduced
25
Closed
1

Top Buys

Rank Stock Value
1
UNH icon
UnitedHealth
UNH
+$21.5M
2
TSM icon
TSMC
TSM
+$10.8M
3
BKNG icon
Booking.com
BKNG
+$251K
4
PGR icon
Progressive
PGR
+$136K

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$6.82M
2
KEYS icon
Keysight
KEYS
+$6.04M
3
SBUX icon
Starbucks
SBUX
+$5.96M
4
ALC icon
Alcon
ALC
+$3.85M
5
EW icon
Edwards Lifesciences
EW
+$1.25M

Sector Composition

Rank Sector Weight
1 Technology 31.17%
2 Communication Services 20.14%
3 Financials 20.05%
4 Consumer Discretionary 11.32%
5 Healthcare 10.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EW icon
1
Edwards Lifesciences
EW
$51.8B
$53.5M 7.55%
472,627
-10,909
-2% -$1.25M
AAPL icon
2
Apple
AAPL
$4.51T
$53.1M 7.49%
375,367
-4,195
-1% -$618K
GOOGL icon
3
Alphabet (Google) Class A
GOOGL
$4.22T
$53M 7.47%
396,220
-50,100
-11% -$6.82M
META icon
4
Meta Platforms (Facebook)
META
$1.4T
$49.9M 7.03%
146,930
-1,834
-1% -$661K
MSI icon
5
Motorola Solutions
MSI
$79.5B
$44.8M 6.31%
192,679
-2,814
-1% -$653K
TSCO icon
6
Tractor Supply
TSCO
$18.2B
$42.6M 6.01%
1,052,470
-11,185
-1% -$434K
PYPL icon
7
PayPal
PYPL
$52.7B
$39M 5.49%
149,746
-2,206
-1% -$626K
MSFT icon
8
Microsoft
MSFT
$3.59T
$37.2M 5.25%
132,048
-1,288
-1% -$375K
CDW icon
9
CDW
CDW
$17.2B
$32.6M 4.6%
179,341
-2,604
-1% -$492K
V icon
10
Visa
V
$693B
$31M 4.37%
139,152
-1,394
-1% -$327K
KEYS icon
11
Keysight
KEYS
$53.8B
$29.3M 4.13%
178,081
-35,989
-17% -$6.04M
EA
12
DELISTED
Electronic Arts
EA
$27.9M 3.94%
196,446
-2,065
-1% -$290K
CPRT icon
13
Copart
CPRT
$31.3B
$26.5M 3.74%
764,672
-11,828
-2% -$423K
TSM icon
14
TSMC
TSM
$2.17T
$23.5M 3.31%
210,107
+91,898
+78% +$10.8M
PGR icon
15
Progressive
PGR
$127B
$23.1M 3.26%
255,997
+1,426
+0.6% +$136K
SBUX icon
16
Starbucks
SBUX
$122B
$22.4M 3.16%
203,420
-50,904
-20% -$5.96M
FRC
17
DELISTED
First Republic Bank
FRC
$22.1M 3.11%
114,362
-1,509
-1% -$297K
UNH icon
18
UnitedHealth
UNH
$350B
$20.3M 2.86%
+51,972
New +$21.5M
ODFL icon
19
Old Dominion Freight Line
ODFL
$42.8B
$17.5M 2.47%
122,326
-1,678
-1% -$233K
SPGI icon
20
S&P Global
SPGI
$127B
$17.5M 2.46%
41,116
-439
-1% -$190K
BKNG icon
21
Booking.com
BKNG
$158B
$15.2M 2.14%
160,100
+2,800
+2% +$251K
GOOG icon
22
Alphabet (Google) Class C
GOOG
$4.18T
$10.2M 1.44%
76,360
-5,480
-7% -$756K
BRK.B icon
23
Berkshire Hathaway Class B
BRK.B
$1.06T
$5.53M 0.78%
20,250
– –
USB icon
24
US Bancorp
USB
$96.7B
$2.41M 0.34%
40,513
-5,530
-12% -$315K
BX icon
25
Blackstone
BX
$108B
$1.4M 0.2%
12,000
-500
-4% -$58K
1
2

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David Rolfe's Q3 2021 Portfolio in Review

As of Q3 2021, David Rolfe held 41 positions worth $709M, up 2.8% from $690M the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Trading was light in Q3 2021: portfolio turnover was 4.9%. David Rolfe opened 1 new position and exited 1, leaving the 41-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 30% a quarter earlier, followed by Communication Services and Financials.

  • David Rolfe's largest Q3 2021 buy was UnitedHealth: 51,972 shares worth $20.3M.
  • David Rolfe added most to TSMC in Q3 2021, an estimated $10.8M increase.
  • David Rolfe's biggest Q3 2021 reduction was Alphabet (Google) Class A, cutting an estimated $6.82M.
  • David Rolfe fully exited Alcon in Q3 2021, selling an estimated $3.85M.
  • David Rolfe's ten largest holdings make up 62% of its $709M portfolio in Q3 2021.
  • David Rolfe opened 1 new position and closed 1 in Q3 2021.
  • David Rolfe's portfolio value rose 2.8% quarter-over-quarter to $709M.

Based on Wedgewood Partners's 13F filing for Q3 2021, filed 12 Nov 2021.