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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
+16.55%
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
$590M
AUM Growth
+$45.3M
Cap. Flow
-$4.21M
Cap. Flow %
-0.71%
Top 10 Hldgs %
67.48%
Holding
42
New
1
Increased
13
Reduced
20
Closed
4

Top Buys

Rank Stock Value
1
UNH icon
UnitedHealth
UNH
+$7.05M
2
POOL icon
Pool Corp
POOL
+$5.25M
3
META icon
Meta Platforms (Facebook)
META
+$4.45M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$3.62M
5
TSM icon
TSMC
TSM
+$3.4M

Top Sells

Rank Stock Value
1
PGR icon
Progressive
PGR
+$19M
2
MSFT icon
Microsoft
MSFT
+$3.82M
3
TPL icon
Texas Pacific Land
TPL
+$2.56M
4
TSCO icon
Tractor Supply
TSCO
+$1.24M
5
QQQ icon
Invesco QQQ Trust
QQQ
+$752K

Sector Composition

Rank Sector Weight
1 Technology 34.62%
2 Financials 15.83%
3 Communication Services 14.87%
4 Consumer Discretionary 10.81%
5 Healthcare 10.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAPL icon
1
Apple
AAPL
$4.51T
$58.9M 9.98%
356,885
-4,817
-1% -$711K
MSI icon
2
Motorola Solutions
MSI
$79.5B
$45.1M 7.65%
157,713
-2,500
-2% -$660K
V icon
3
Visa
V
$693B
$42.2M 7.15%
187,058
-3,018
-2% -$672K
TSCO icon
4
Tractor Supply
TSCO
$18.2B
$40M 6.78%
849,995
-27,330
-3% -$1.24M
META icon
5
Meta Platforms (Facebook)
META
$1.4T
$39.5M 6.69%
186,239
+26,148
+16% +$4.45M
GOOGL icon
6
Alphabet (Google) Class A
GOOGL
$4.22T
$36.8M 6.25%
355,124
+37,745
+12% +$3.62M
UNH icon
7
UnitedHealth
UNH
$350B
$35.6M 6.03%
75,228
+14,606
+24% +$7.05M
CDW icon
8
CDW
CDW
$17.2B
$34.3M 5.81%
175,926
-2,998
-2% -$589K
MSFT icon
9
Microsoft
MSFT
$3.59T
$34.2M 5.8%
118,615
-14,969
-11% -$3.82M
TSM icon
10
TSMC
TSM
$2.17T
$31.4M 5.33%
338,110
+37,827
+13% +$3.4M
CPRT icon
11
Copart
CPRT
$31.3B
$28.4M 4.81%
754,404
-12,228
-2% -$416K
EW icon
12
Edwards Lifesciences
EW
$51.8B
$27.3M 4.63%
330,070
-3,690
-1% -$290K
PYPL icon
13
PayPal
PYPL
$52.7B
$25.1M 4.26%
330,436
+20,187
+7% +$1.55M
BKNG icon
14
Booking.com
BKNG
$158B
$23.6M 4.01%
222,600
+4,025
+2% +$392K
ODFL icon
15
Old Dominion Freight Line
ODFL
$42.8B
$18.9M 3.2%
110,808
-1,690
-2% -$283K
POOL icon
16
Pool Corp
POOL
$6.83B
$15.3M 2.59%
44,631
+14,783
+50% +$5.25M
SPGI icon
17
S&P Global
SPGI
$127B
$13.3M 2.26%
38,714
-320
-0.8% -$113K
TPL icon
18
Texas Pacific Land
TPL
$26.5B
$12.1M 2.05%
63,981
-12,276
-16% -$2.56M
GOOG icon
19
Alphabet (Google) Class C
GOOG
$4.18T
$8.55M 1.45%
82,177
+1,647
+2% +$159K
BRK.B icon
20
Berkshire Hathaway Class B
BRK.B
$1.06T
$6.17M 1.05%
19,975
– –
FRC
21
DELISTED
First Republic Bank
FRC
$2.82M 0.48%
201,834
+17,738
+10% +$1.82M
USB icon
22
US Bancorp
USB
$96.7B
$1.82M 0.31%
50,450
+14,895
+42% +$663K
T icon
23
AT&T
T
$173B
$1.48M 0.25%
76,875
-200
-0.3% -$3.82K
BX icon
24
Blackstone
BX
$108B
$1.41M 0.24%
16,000
+750
+5% +$66.2K
VZ icon
25
Verizon
VZ
$205B
$823K 0.14%
21,175
+425
+2% +$16.8K
1
2

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David Rolfe's Q1 2023 Portfolio in Review

As of Q1 2023, David Rolfe held 42 positions worth $590M, up 8.3% from $544M the previous quarter. Its ten largest holdings account for 67% of the portfolio.

David Rolfe's Q1 2023 filing shows 1 new, 13 increased, 20 reduced and 4 closed positions. The largest sale was Progressive, an estimated $19M.

By sector, the portfolio is most concentrated in Technology at 35% of assets, up from 32% a quarter earlier, followed by Financials and Communication Services.

  • David Rolfe added most to UnitedHealth in Q1 2023, an estimated $7.05M increase.
  • David Rolfe's biggest Q1 2023 reduction was Progressive, cutting an estimated $19M.
  • David Rolfe fully exited Invesco QQQ Trust in Q1 2023, selling an estimated $752K.
  • David Rolfe's ten largest holdings make up 67% of its $590M portfolio in Q1 2023.
  • David Rolfe opened 1 new position and closed 4 in Q1 2023.
  • David Rolfe's portfolio value rose 8.3% quarter-over-quarter to $590M.

Based on Wedgewood Partners's 13F filing for Q1 2023, filed 15 May 2023.