Wedgewood Partners Portfolio Update: David Rolfe's Strategic Shifts in Q2 26

Wedgewood Partners reported a total portfolio value of $484,433,173 as of June 30, 2026. The investment strategy appears to have involved both strategic additions and reductions across various sectors. Overall sector allocations show Technology at 30.73%, Financial Services at 18.53%, Communication Services at 18.28%, Consumer Cyclical at 17.93%, Industrials at 11.45%, and Healthcare at 3.08% of the total portfolio.

Within Technology, significant adjustments occurred with holdings in TSM, META, and AAPL. David Rolfe's portfolio saw a reduction in TSM shares, with a decrease of 18.44% or approximately -23,854 shares during the period. Similarly, Microsoft (MSFT) experienced an increase in share count by about 21.1%, adding roughly 15,600 shares to his position.

Financial Services holdings also saw notable changes, particularly with Visa (V). Rolfe added more shares of Visa during the quarter. The total value invested in Financial Services remains substantial at $89.7 million.

Consumer Cyclical stocks were active, especially with Booking Holdings (BKNG). Rolfe significantly increased his stake in Booking Holdings by adding approximately 127,834 shares. This was the most substantial purchase during this period.

Additionally, there were notable changes in other sectors like Industrials and Consumer Cyclical. ORLY saw a decrease of 32.5% or -5,752 shares, while Coprart (CPRT) experienced a slight reduction.

The portfolio's top holdings by value include significant stakes in Technology and Financial Services companies. The largest position is still held by TSM with $50.4 million, followed closely by Alphabet (GOOGL) at $45.5 million.

Key Changes:

• Purchased a significant number of shares in Booking Holdings, increasing the stake substantially
• Sold some holdings in TSM and Alphabet (GOOGL)
• Increased investment in Visa by over 26%
• Made adjustments to other positions like ORLY and Copart with notable decreases