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David Rolfe Wedgewood Partners
AUM
$484M
Turnover
18.18%
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
-16.05%
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
$579M
AUM Growth
-$130M
(-18%)
Cap. Flow
-$9.5M
Cap. Flow % of AUM
Cap. Flow %
-1.64%
Top 10 Holdings %
Top 10 Hldgs %
62.15%
Holding
44
New
2
Increased
10
Reduced
20
Closed
4
Avg Time Held
3.8
years
Top 10 Avg Time Held
3.1
years
Top 20 Avg Time Held
3.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pool Corp
POOL
|
+$12.2M |
| 2 |
PayPal
PYPL
|
+$5.3M |
| 3 |
FRC
First Republic Bank
FRC
|
+$4.17M |
| 4 |
Old Dominion Freight Line
ODFL
|
+$4.12M |
| 5 |
Warner Bros
WBD
|
+$306K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Starbucks
SBUX
|
+$12.9M |
| 2 |
Progressive
PGR
|
+$5.86M |
| 3 |
Tractor Supply
TSCO
|
+$5.62M |
| 4 |
Visa
V
|
+$4.53M |
| 5 |
Edwards Lifesciences
EW
|
+$1.81M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 31.38% |
| 2 | Financials | 21.93% |
| 3 | Communication Services | 14.22% |
| 4 | Healthcare | 11.42% |
| 5 | Consumer Discretionary | 9.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Apple
AAPL
$5.07T
| $50.2M | 8.67% |
367,275
-3,416
| -0.9% | -$517K |
2013 Q2
36 quarters
|
|
|
2
Visa
V
$766B
| $38.7M | 6.68% |
196,545
-21,934
| -10% | -$4.53M |
2013 Q2
36 quarters
|
|
3
Microsoft
MSFT
$3.89T
| $36.3M | 6.27% |
141,226
-853
| -0.6% | -$232K |
2020 Q1
9 quarters
|
|
4
Alphabet (Google) Class A
GOOGL
$3.92T
| $35.9M | 6.2% |
329,240
-3,000
| -0.9% | -$353K |
2015 Q3
27 quarters
|
|
5
Meta Platforms (Facebook)
META
$1.64T
| $35.1M | 6.07% |
217,756
-1,314
| -0.6% | -$253K |
2018 Q1
17 quarters
|
|
6
Motorola Solutions
MSI
$79.7B
| $35.1M | 6.06% |
167,263
-809
| -0.5% | -$176K |
2019 Q2
12 quarters
|
|
|
7
Tractor Supply
TSCO
$17.4B
| $34.9M | 6.02% |
899,600
-138,345
| -13% | -$5.62M |
2016 Q4
22 quarters
|
|
|
8
Edwards Lifesciences
EW
$51.3B
| $32.4M | 5.6% |
340,689
-17,531
| -5% | -$1.81M |
2017 Q1
21 quarters
|
|
9
UnitedHealth
UNH
$375B
| $32.1M | 5.54% |
62,486
-730
| -1% | -$367K |
2021 Q3
3 quarters
|
|
10
CDW
CDW
$20.6B
| $29.2M | 5.05% |
185,496
-3,473
| -2% | -$584K |
2019 Q3
11 quarters
|
|
11
TSMC
TSM
$2.17T
| $28.6M | 4.94% |
349,542
+2,308
| +0.7% | +$213K |
2021 Q2
4 quarters
|
|
|
12
PayPal
PYPL
$48.8B
| $23.2M | 4% |
331,987
+61,041
| +23% | +$5.3M |
2015 Q3
27 quarters
|
|
|
FRC
13
DELISTED
First Republic Bank
FRC
| $22.1M | 3.82% |
153,243
+27,800
| +22% | +$4.17M |
2020 Q3
7 quarters
|
|
14
Copart
CPRT
$26.9B
| $21.5M | 3.71% |
790,184
-11,288
| -1% | -$321K |
2019 Q4
10 quarters
|
|
|
15
Progressive
PGR
$132B
| $21.4M | 3.69% |
183,841
-51,724
| -22% | -$5.86M |
2020 Q4
6 quarters
|
|
16
Booking.com
BKNG
$117B
| $17.2M | 2.96% |
245,200
+1,625
| +0.7% | +$139K |
2021 Q1
5 quarters
|
|
17
Texas Pacific Land
TPL
$23.3B
| $16.1M | 2.79% |
97,569
-3,096
| -3% | -$506K |
2021 Q4
2 quarters
|
|
|
18
Old Dominion Freight Line
ODFL
$37.9B
| $14.9M | 2.57% |
116,036
+31,446
| +37% | +$4.12M |
2021 Q1
5 quarters
|
|
19
S&P Global
SPGI
$133B
| $13.6M | 2.35% |
40,339
-452
| -1% | -$161K |
2019 Q4
10 quarters
|
|
|
20
Pool Corp
POOL
$7.23B
| $10.8M | 1.86% |
+30,718
| New | +$12.2M |
2022 Q2
0 quarters
|
|
21
Alphabet (Google) Class C
GOOG
$3.88T
| $8.85M | 1.53% |
80,900
+1,100
| +1% | +$130K |
2013 Q2
36 quarters
|
|
22
Berkshire Hathaway Class B
BRK.B
$1.16T
| $5.29M | 0.91% |
19,375
| – | – |
2013 Q2
36 quarters
|
|
|
23
Starbucks
SBUX
$115B
| $3.64M | 0.63% |
47,612
-167,875
| -78% | -$12.9M |
2019 Q1
13 quarters
|
|
24
Keysight
KEYS
$53.6B
| $2.12M | 0.37% |
15,375
-3,525
| -19% | -$501K |
2020 Q1
9 quarters
|
|
25
US Bancorp
USB
$92.8B
| $1.58M | 0.27% |
34,305
+500
| +1% | +$25K |
2016 Q1
25 quarters
|
|
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David Rolfe's Q2 2022 Portfolio in Review
As of Q2 2022, David Rolfe held 44 positions worth $579M, down 18% from $709M the previous quarter. Its ten largest holdings account for 62% of the portfolio.
David Rolfe's Q2 2022 filing shows 2 new, 10 increased, 20 reduced and 4 closed positions. Its largest new stake was Pool Corp: 30,718 shares worth $10.8M. The largest sale was Starbucks, an estimated $12.9M.
By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 31% a quarter earlier, followed by Financials and Communication Services.
- David Rolfe's largest Q2 2022 buy was Pool Corp: 30,718 shares worth $10.8M.
- David Rolfe added most to PayPal in Q2 2022, an estimated $5.3M increase.
- David Rolfe's biggest Q2 2022 reduction was Starbucks, cutting an estimated $12.9M.
- David Rolfe fully exited Vanguard Morningstar Growth ETF in Q2 2022, selling an estimated $563K.
- David Rolfe's ten largest holdings make up 62% of its $579M portfolio in Q2 2022.
- David Rolfe opened 2 new positions and closed 4 in Q2 2022.
- David Rolfe's portfolio value fell 18% quarter-over-quarter to $579M.
Based on Wedgewood Partners's 13F filing for Q2 2022, filed 15 Aug 2022.