David Rolfe Wedgewood Partners
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Russell 1000 Growth ETF
IWF
|
+$1.52M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Texas Pacific Land
TPL
|
+$18M |
| 2 |
PayPal
PYPL
|
+$2.15M |
| 3 |
Meta Platforms (Facebook)
META
|
+$1.93M |
| 4 |
Apple
AAPL
|
+$1.87M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$1.84M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.94% |
| 2 | Communication Services | 18.38% |
| 3 | Financials | 17.73% |
| 4 | Consumer Discretionary | 12.68% |
| 5 | Healthcare | 10.46% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
TSMC
TSM
$2.17T
| $46.8M | 9.21% |
236,828
-9,304
| -4% | -$1.8M |
|
|
2
Alphabet (Google) Class A
GOOGL
$4.22T
| $46.8M | 9.21% |
247,035
-10,488
| -4% | -$1.84M |
|
|
3
Meta Platforms (Facebook)
META
$1.4T
| $46.6M | 9.17% |
79,557
-3,291
| -4% | -$1.93M |
|
|
4
Apple
AAPL
$4.51T
| $41M | 8.08% |
163,857
-7,925
| -5% | -$1.87M |
|
|
5
PayPal
PYPL
$52.7B
| $40.1M | 7.89% |
469,829
-25,555
| -5% | -$2.15M |
|
6
Visa
V
$693B
| $38.3M | 7.54% |
121,199
-5,439
| -4% | -$1.64M |
|
7
Booking.com
BKNG
$158B
| $28.9M | 5.69% |
145,400
-6,775
| -4% | -$1.3M |
|
8
Copart
CPRT
$31.3B
| $28M | 5.52% |
488,433
-21,506
| -4% | -$1.22M |
|
9
UnitedHealth
UNH
$350B
| $28M | 5.52% |
55,384
-2,651
| -5% | -$1.51M |
|
10
Microsoft
MSFT
$3.59T
| $27.5M | 5.41% |
65,219
-2,665
| -4% | -$1.14M |
|
11
Motorola Solutions
MSI
$79.5B
| $26.1M | 5.14% |
56,490
-2,619
| -4% | -$1.24M |
|
12
Tractor Supply
TSCO
$18.2B
| $25.4M | 5.01% |
479,596
-20,189
| -4% | -$1.14M |
|
13
Edwards Lifesciences
EW
$51.8B
| $25.1M | 4.95% |
339,436
-19,821
| -6% | -$1.39M |
|
14
CDW
CDW
$17.2B
| $15.7M | 3.1% |
90,447
-5,404
| -6% | -$1.05M |
|
15
S&P Global
SPGI
$127B
| $11.6M | 2.29% |
23,360
-1,022
| -4% | -$519K |
|
16
Pool Corp
POOL
$6.83B
| $10.2M | 2% |
29,810
-3,722
| -11% | -$1.36M |
|
17
Old Dominion Freight Line
ODFL
$42.8B
| $10.1M | 1.99% |
57,406
-2,922
| -5% | -$595K |
|
18
O'Reilly Automotive
ORLY
$72.1B
| $10M | 1.98% |
126,960
-5,370
| -4% | -$433K |
|
|
19
iShares Russell 1000 Growth ETF
IWF
$125B
| $1.56M | 0.31% |
+15,496
| New | +$1.52M |
|
|
20
Texas Pacific Land
TPL
$26.5B
| – | – |
-39,573
| Closed | -$18M |
|
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David Rolfe's Q4 2024 Portfolio in Review
As of Q4 2024, David Rolfe held 20 positions worth $508M, down 7.8% from $551M the previous quarter. Its ten largest holdings account for 73% of the portfolio.
David Rolfe withdrew a net $40.6M in Q4 2024, closing 1 position and reducing 18 holdings. Its most notable exit was Texas Pacific Land, an estimated $18M position sold in full.
By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 29% a quarter earlier, followed by Communication Services and Financials.
Against the trend, David Rolfe opened a new position in iShares Russell 1000 Growth ETF worth $1.56M.
- David Rolfe's largest Q4 2024 buy was iShares Russell 1000 Growth ETF: 15,496 shares worth $1.56M.
- David Rolfe's biggest Q4 2024 reduction was PayPal, cutting an estimated $2.15M.
- David Rolfe fully exited Texas Pacific Land in Q4 2024, selling an estimated $18M.
- David Rolfe's ten largest holdings make up 73% of its $508M portfolio in Q4 2024.
- David Rolfe opened 1 new position and closed 1 in Q4 2024.
- David Rolfe's portfolio value fell 7.8% quarter-over-quarter to $508M.
Based on Wedgewood Partners's 13F filing for Q4 2024, filed 14 Feb 2025.