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 |
Zoetis
ZTS
|
+$19.6M |
| 2 |
United Rentals
URI
|
+$825K |
| 3 |
Old Dominion Freight Line
ODFL
|
+$471K |
| 4 |
Pool Corp
POOL
|
+$293K |
| 5 |
CDW
CDW
|
+$146K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$7.63M |
| 2 |
TSMC
TSM
|
+$7.28M |
| 3 |
UnitedHealth
UNH
|
+$3.17M |
| 4 |
iShares Russell 1000 Growth ETF
IWF
|
+$3.03M |
| 5 |
Visa
V
|
+$1.42M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 32.14% |
| 2 | Communication Services | 17.92% |
| 3 | Financials | 15.49% |
| 4 | Consumer Discretionary | 15.12% |
| 5 | Industrials | 12.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Meta Platforms (Facebook)
META
$1.6T
| $53M | 10.3% |
68,330
-1,223
| -2% | -$756K |
2018 Q1
29 quarters
|
|
|
2
TSMC
TSM
$2.27T
| $47.2M | 9.16% |
197,500
-39,313
| -17% | -$7.28M |
2021 Q2
16 quarters
|
|
3
Microsoft
MSFT
$3.92T
| $41M | 7.96% |
76,605
-556
| -0.7% | -$241K |
2020 Q1
21 quarters
|
|
|
4
Alphabet (Google) Class A
GOOGL
$3.96T
| $39.3M | 7.62% |
201,303
-46,625
| -19% | -$7.63M |
2015 Q3
39 quarters
|
|
5
Apple
AAPL
$5.04T
| $32.9M | 6.39% |
161,857
-3,236
| -2% | -$654K |
2013 Q2
48 quarters
|
|
6
PayPal
PYPL
$46.8B
| $31.7M | 6.15% |
465,841
-7,934
| -2% | -$543K |
2015 Q3
39 quarters
|
|
7
Booking.com
BKNG
$111B
| $31M | 6.01% |
141,375
-3,900
| -3% | -$799K |
2021 Q1
17 quarters
|
|
|
8
Visa
V
$756B
| $29.3M | 5.69% |
85,603
-4,085
| -5% | -$1.42M |
2013 Q2
48 quarters
|
|
9
Tractor Supply
TSCO
$16.7B
| $28.1M | 5.46% |
472,766
-7,299
| -2% | -$373K |
2016 Q4
34 quarters
|
|
10
Motorola Solutions
MSI
$79.5B
| $24.5M | 4.75% |
55,591
-998
| -2% | -$417K |
2019 Q2
24 quarters
|
|
|
11
United Rentals
URI
$73.2B
| $22.6M | 4.39% |
26,063
+1,234
| +5% | +$825K |
2025 Q1
1 quarter
|
|
12
Copart
CPRT
$26.6B
| $22M | 4.26% |
480,291
-8,116
| -2% | -$454K |
2019 Q4
22 quarters
|
|
|
13
CDW
CDW
$20.3B
| $20M | 3.88% |
116,123
+859
| +0.7% | +$146K |
2019 Q3
23 quarters
|
|
14
S&P Global
SPGI
$130B
| $18.9M | 3.66% |
33,482
-609
| -2% | -$304K |
2019 Q4
22 quarters
|
|
15
O'Reilly Automotive
ORLY
$72B
| $18.8M | 3.64% |
185,210
-3,685
| -2% | -$336K |
2023 Q3
7 quarters
|
|
|
16
Zoetis
ZTS
$32.1B
| $18.7M | 3.63% |
+123,343
| New | +$19.6M |
2025 Q2
0 quarters
|
|
17
Edwards Lifesciences
EW
$52.8B
| $14.3M | 2.77% |
178,034
-13,784
| -7% | -$1.03M |
2017 Q1
33 quarters
|
|
|
18
Old Dominion Freight Line
ODFL
$36.7B
| $12.3M | 2.39% |
85,320
+2,949
| +4% | +$471K |
2021 Q1
17 quarters
|
|
|
19
Pool Corp
POOL
$6.93B
| $9.7M | 1.88% |
31,244
+968
| +3% | +$293K |
2022 Q2
12 quarters
|
|
|
20
iShares Russell 1000 Growth ETF
IWF
$125B
| – | – |
-30,352
| Closed | -$3.03M | – |
|
|
21
UnitedHealth
UNH
$372B
| – | – |
-10,302
| Closed | -$3.17M | – |
|
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David Rolfe's Q2 2025 Portfolio in Review
As of Q2 2025, David Rolfe held 21 positions worth $515M, up 3.8% from $496M the previous quarter. Its ten largest holdings account for 69% of the portfolio.
David Rolfe's Q2 2025 filing shows 1 new, 4 increased, 14 reduced and 2 closed positions. Its largest new stake was Zoetis: 123,343 shares worth $18.7M. The largest sale was Alphabet (Google) Class A, an estimated $7.63M.
By sector, the portfolio is most concentrated in Technology at 32% of assets, down from 33% a quarter earlier, followed by Communication Services and Financials.
- David Rolfe's largest Q2 2025 buy was Zoetis: 123,343 shares worth $18.7M.
- David Rolfe added most to United Rentals in Q2 2025, an estimated $825K increase.
- David Rolfe's biggest Q2 2025 reduction was Alphabet (Google) Class A, cutting an estimated $7.63M.
- David Rolfe fully exited UnitedHealth in Q2 2025, selling an estimated $3.17M.
- David Rolfe's ten largest holdings make up 69% of its $515M portfolio in Q2 2025.
- David Rolfe opened 1 new position and closed 2 in Q2 2025.
- David Rolfe's portfolio value rose 3.8% quarter-over-quarter to $515M.
Based on Wedgewood Partners's 13F filing for Q2 2025, filed 14 Aug 2025.