David Rolfe Increases Booking Holdings Position by 2317% Amid Q2 Portfolio Shifts
Wedgewood Partners' David Rolfe significantly boosted his stake in Booking Holdings while trimming holdings in Taiwan Semiconductor and Alphabet Inc. during the second quarter of 2026.
As of June 30, 2026, Wedgewood Partners' portfolio manager David Rolfe has shown notable shifts in his investment strategy this quarter.
The investor's total portfolio value stands at $484.4 million as of the reporting date. His focus appears to be on specific sectors and individual stocks that align with his current outlook, evident from the changes observed across his holdings.
Significant Purchase: Booking Holdings
The most striking change in David Rolfe's portfolio this quarter is a massive increase in his stake in Booking Holdings Inc. (BKNG). According to the filing, he added 127,834 shares during Q2, representing an unprecedented 2317% jump in his position relative to the previous quarter.
This substantial acquisition suggests a strong conviction in BKNG's growth potential or a strategic move within Rolfe's portfolio. The stock now accounts for approximately 4.91% of his total holdings, making it one of the more significant positions in this quarter's snapshot.
Other Notable Buys and Portfolio Dynamics
Besides BKNG, Rolfe also increased his position in Amazon (AMZN), adding 35,533 shares which pushed the allocation up by about 35.57%.
He maintained a strong interest in Alphabet Inc. (GOOGL) despite reducing the share count slightly (-18,280 shares or -18.28%), and similarly adjusted his position in Microsoft Corp. (MSFT), adding 15,599 shares (+21.1%) but keeping the overall allocation steady at 6.89%.
Additionally, he purchased shares of Chubb Limited (CB) and United Rentals Inc. (URI), contributing to his holdings in Financial Services and Industrials sectors respectively.
Major Sales: Reducing Exposure in Certain Tech Stocks
The quarter also saw significant reductions from Rolfe's portfolio. He sold a substantial number of shares in Taiwan Semiconductor Manufacturing Co. (TSM) (TSM), reducing his stake by 18,854 shares (-18.44%).
Furthermore, he decreased his position in Alphabet Inc. (GOOGL) and trimmed holdings in Apple Inc. (AAPL) (AAPL), although the latter's allocation remained relatively stable at 7.81%.
The reduction in TSM shares is particularly noteworthy, as it now represents only 0.4% of the portfolio (allocation dropped to 10.4%). Similarly, his stake in GOOGL decreased from a higher percentage.
Portfolio Allocation and Overall Changes
The portfolio's overall allocation shows David Rolfe heavily concentrated in Technology (30.73% of total value), Financial Services (18.53%), Communication Services (18.28%), Consumer Cyclical (17.93%), Industrials (11.45%) and Healthcare stocks.
His portfolio now includes 18 holdings, with the top five positions accounting for roughly 43.38% of his total assets. This indicates a preference for core large-cap stocks but also highlights diversification into cyclical sectors like Consumer Cyclical and Industrials.
The changes observed suggest an active management style, with David Rolfe clearly prioritizing certain growth areas while reducing exposure in others during this specific quarter.