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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
-9.24%
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
-$44.2M
Cap. Flow
+$36.6M
Cap. Flow %
5.16%
Top 10 Hldgs %
63.92%
Holding
45
New
6
Increased
26
Reduced
7
Closed
3

Top Buys

Rank Stock Value
1
PYPL icon
PayPal
PYPL
+$15.9M
2
META icon
Meta Platforms (Facebook)
META
+$12.2M
3
TSM icon
TSMC
TSM
+$11.9M
4
UNH icon
UnitedHealth
UNH
+$5.18M
5
MSFT icon
Microsoft
MSFT
+$3.63M

Top Sells

Rank Stock Value
1
KEYS icon
Keysight
KEYS
+$21M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$8.2M
3
PGR icon
Progressive
PGR
+$1.86M
4
ECL icon
Ecolab
ECL
+$586K
5
SLB icon
SLB Ltd
SLB
+$516K

Sector Composition

Rank Sector Weight
1 Technology 31.38%
2 Financials 21.72%
3 Communication Services 15.31%
4 Consumer Discretionary 12.85%
5 Healthcare 10.73%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAPL icon
1
Apple
AAPL
$4.51T
$64.7M 9.13%
370,691
+3,425
+0.9% +$576K
META icon
2
Meta Platforms (Facebook)
META
$1.4T
$48.7M 6.87%
219,070
+48,869
+29% +$12.2M
V icon
3
Visa
V
$693B
$48.5M 6.83%
218,479
+11,012
+5% +$2.38M
TSCO icon
4
Tractor Supply
TSCO
$18.2B
$48.4M 6.83%
1,037,945
+4,445
+0.4% +$197K
GOOGL icon
5
Alphabet (Google) Class A
GOOGL
$4.22T
$46.2M 6.52%
332,240
-60,360
-15% -$8.2M
MSFT icon
6
Microsoft
MSFT
$3.59T
$43.8M 6.18%
142,079
+12,050
+9% +$3.63M
EW icon
7
Edwards Lifesciences
EW
$51.8B
$42.2M 5.95%
358,220
+5,071
+1% +$569K
MSI icon
8
Motorola Solutions
MSI
$79.5B
$40.7M 5.74%
168,072
+12,090
+8% +$2.81M
TSM icon
9
TSMC
TSM
$2.17T
$36.2M 5.11%
347,234
+101,453
+41% +$11.9M
CDW icon
10
CDW
CDW
$17.2B
$33.8M 4.77%
188,969
+10,696
+6% +$1.96M
UNH icon
11
UnitedHealth
UNH
$350B
$32.2M 4.55%
63,216
+10,750
+20% +$5.18M
PYPL icon
12
PayPal
PYPL
$52.7B
$31.3M 4.42%
270,946
+119,820
+79% +$15.9M
PGR icon
13
Progressive
PGR
$127B
$26.9M 3.79%
235,565
-17,229
-7% -$1.86M
CPRT icon
14
Copart
CPRT
$31.3B
$25.1M 3.55%
801,472
+42,872
+6% +$1.36M
BKNG icon
15
Booking.com
BKNG
$158B
$22.9M 3.23%
243,575
+22,350
+10% +$2.09M
FRC
16
DELISTED
First Republic Bank
FRC
$20.3M 2.87%
125,443
+12,658
+11% +$2.21M
SBUX icon
17
Starbucks
SBUX
$122B
$19.6M 2.76%
215,487
+19,198
+10% +$1.81M
SPGI icon
18
S&P Global
SPGI
$127B
$16.7M 2.36%
40,791
+10
+0% +$4.07K
TPL icon
19
Texas Pacific Land
TPL
$26.5B
$15.1M 2.13%
100,665
+12,186
+14% +$1.61M
ODFL icon
20
Old Dominion Freight Line
ODFL
$42.8B
$12.6M 1.78%
84,590
+566
+0.7% +$88.1K
GOOG icon
21
Alphabet (Google) Class C
GOOG
$4.18T
$11.1M 1.57%
79,800
+4,640
+6% +$631K
BRK.B icon
22
Berkshire Hathaway Class B
BRK.B
$1.06T
$6.84M 0.96%
19,375
-125
-0.6% -$40.4K
KEYS icon
23
Keysight
KEYS
$53.8B
$2.98M 0.42%
18,900
-126,372
-87% -$21M
USB icon
24
US Bancorp
USB
$96.7B
$1.8M 0.25%
33,805
-6,408
-16% -$368K
BX icon
25
Blackstone
BX
$108B
$1.46M 0.21%
11,500
+750
+7% +$91.5K
1
2

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David Rolfe's Q1 2022 Portfolio in Review

As of Q1 2022, David Rolfe held 45 positions worth $709M, down 5.9% from $753M the previous quarter. Its ten largest holdings account for 64% of the portfolio.

David Rolfe deployed $36.6M of net new capital in Q1 2022, opening 6 new positions and adding to 26 existing holdings. Its largest new stake was Vanguard Morningstar Growth ETF: 11,760 shares worth $563K.

By sector, the portfolio is most concentrated in Technology at 31% of assets, down from 33% a quarter earlier, followed by Financials and Communication Services.

On the sell side, the largest reduction was Keysight, an estimated $21M trimmed.

  • David Rolfe's largest Q1 2022 buy was Vanguard Morningstar Growth ETF: 11,760 shares worth $563K.
  • David Rolfe added most to PayPal in Q1 2022, an estimated $15.9M increase.
  • David Rolfe's biggest Q1 2022 reduction was Keysight, cutting an estimated $21M.
  • David Rolfe fully exited Ecolab in Q1 2022, selling an estimated $586K.
  • David Rolfe's ten largest holdings make up 64% of its $709M portfolio in Q1 2022.
  • David Rolfe opened 6 new positions and closed 3 in Q1 2022.
  • David Rolfe's portfolio value fell 5.9% quarter-over-quarter to $709M.

Based on Wedgewood Partners's 13F filing for Q1 2022, filed 16 May 2022.