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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
+9.29%
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
$620M
AUM Growth
+$30.6M
Cap. Flow
-$17.1M
Cap. Flow %
-2.76%
Top 10 Hldgs %
67.03%
Holding
41
New
3
Increased
10
Reduced
19
Closed
5

Top Buys

Rank Stock Value
1
PYPL icon
PayPal
PYPL
+$10.4M
2
BKNG icon
Booking.com
BKNG
+$605K
3
USB icon
US Bancorp
USB
+$366K
4
PEP icon
PepsiCo
PEP
+$327K
5
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$299K

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$4.69M
2
META icon
Meta Platforms (Facebook)
META
+$4.68M
3
FRC
First Republic Bank
FRC
+$2.82M
4
V icon
Visa
V
+$2.38M
5
TSCO icon
Tractor Supply
TSCO
+$1.96M

Sector Composition

Rank Sector Weight
1 Technology 34.31%
2 Communication Services 16.11%
3 Financials 15.99%
4 Industrials 11.41%
5 Healthcare 10.61%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAPL icon
1
Apple
AAPL
$4.51T
$64M 10.32%
329,962
-26,923
-8% -$4.69M
META icon
2
Meta Platforms (Facebook)
META
$1.4T
$48M 7.74%
167,265
-18,974
-10% -$4.68M
MSI icon
3
Motorola Solutions
MSI
$79.5B
$44.3M 7.14%
151,095
-6,618
-4% -$1.9M
V icon
4
Visa
V
$693B
$42M 6.76%
176,665
-10,393
-6% -$2.38M
GOOGL icon
5
Alphabet (Google) Class A
GOOGL
$4.22T
$41M 6.61%
342,458
-12,666
-4% -$1.46M
MSFT icon
6
Microsoft
MSFT
$3.59T
$38.7M 6.24%
113,575
-5,040
-4% -$1.58M
TSCO icon
7
Tractor Supply
TSCO
$18.2B
$35.7M 5.75%
807,275
-42,720
-5% -$1.96M
UNH icon
8
UnitedHealth
UNH
$350B
$35.3M 5.69%
73,417
-1,811
-2% -$886K
TSM icon
9
TSMC
TSM
$2.17T
$34.1M 5.5%
338,042
-68
-0% -$6.33K
CPRT icon
10
Copart
CPRT
$31.3B
$32.7M 5.28%
718,012
-36,392
-5% -$1.51M
PYPL icon
11
PayPal
PYPL
$52.7B
$32.2M 5.19%
482,868
+152,432
+46% +$10.4M
CDW icon
12
CDW
CDW
$17.2B
$31.7M 5.12%
172,984
-2,942
-2% -$514K
EW icon
13
Edwards Lifesciences
EW
$51.8B
$29.7M 4.79%
315,173
-14,897
-5% -$1.29M
BKNG icon
14
Booking.com
BKNG
$158B
$24.7M 3.98%
228,325
+5,725
+3% +$605K
ODFL icon
15
Old Dominion Freight Line
ODFL
$42.8B
$20.7M 3.34%
112,024
+1,216
+1% +$197K
POOL icon
16
Pool Corp
POOL
$6.83B
$16.8M 2.7%
44,738
+107
+0.2% +$36.6K
SPGI icon
17
S&P Global
SPGI
$127B
$14.8M 2.39%
36,980
-1,734
-4% -$634K
TPL icon
18
Texas Pacific Land
TPL
$26.5B
$8.97M 1.45%
61,317
-2,664
-4% -$427K
GOOG icon
19
Alphabet (Google) Class C
GOOG
$4.18T
$8.42M 1.36%
69,627
-12,550
-15% -$1.45M
BRK.B icon
20
Berkshire Hathaway Class B
BRK.B
$1.06T
$6.58M 1.06%
19,300
-675
-3% -$220K
USB icon
21
US Bancorp
USB
$96.7B
$2.04M 0.33%
61,775
+11,325
+22% +$366K
BX icon
22
Blackstone
BX
$108B
$1.56M 0.25%
16,750
+750
+5% +$64.8K
T icon
23
AT&T
T
$173B
$1.21M 0.19%
75,625
-1,250
-2% -$21.3K
JNJ icon
24
Johnson & Johnson
JNJ
$651B
$811K 0.13%
4,905
+30
+0.6% +$4.84K
VZ icon
25
Verizon
VZ
$205B
$791K 0.13%
21,290
+115
+0.5% +$4.26K
1
2

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David Rolfe's Q2 2023 Portfolio in Review

As of Q2 2023, David Rolfe held 41 positions worth $620M, up 5.2% from $590M the previous quarter. Its ten largest holdings account for 67% of the portfolio.

David Rolfe's Q2 2023 filing shows 3 new, 10 increased, 19 reduced and 5 closed positions. Its largest new stake was PepsiCo: 1,750 shares worth $324K. The largest sale was Apple, an estimated $4.69M.

By sector, the portfolio is most concentrated in Technology at 34% of assets, down from 35% a quarter earlier, followed by Communication Services and Financials.

  • David Rolfe's largest Q2 2023 buy was PepsiCo: 1,750 shares worth $324K.
  • David Rolfe added most to PayPal in Q2 2023, an estimated $10.4M increase.
  • David Rolfe's biggest Q2 2023 reduction was Apple, cutting an estimated $4.69M.
  • David Rolfe fully exited First Republic Bank in Q2 2023, selling an estimated $2.82M.
  • David Rolfe's ten largest holdings make up 67% of its $620M portfolio in Q2 2023.
  • David Rolfe opened 3 new positions and closed 5 in Q2 2023.
  • David Rolfe's portfolio value rose 5.2% quarter-over-quarter to $620M.

Based on Wedgewood Partners's 13F filing for Q2 2023, filed 14 Aug 2023.