David Rolfe's Portfolio: Tech & Comm Focus, Significant AMZN Increase
Wedgewood Partners' David Rolfe portfolio, as of March 31, 2026, heavily favors Technology and Communication Services, with Booking Holdings and Amazon showing substantial share increases.
Portfolio Overview
The portfolio managed by David Rolfe at Wedgewood Partners, valued at $484 million as of March 31, 2026, demonstrates a clear tilt towards large-cap technology and communication services stocks. The top ten holdings represent a significant portion of the total value, with no other stocks listed outside this group.
Top Holdings Analysis
The portfolio's largest individual positions are dominated by Technology and Communication Services stocks. Alphabet Inc. (GOOGL) holds a $44.8 million position, representing 9.25% of the portfolio. Taiwan Semiconductor Manufacturing (TSM) follows with $43.7 million (9.03%), Motorola Solutions (MSI) with $29.5 million (6.09%), and Microsoft (MSFT) with $27.4 million (5.65%).
- Booking Holdings (BKNG): A Communication Services stock valued at $23.2 million (4.80%), shows a significant increase with a 5.16% share rise.
- VISA (V): A Financial Services holding worth $25.1 million (5.18%) saw a modest 4.75% share increase.
- Old Dominion Freight Line (ODFL): An Industrials stock valued at $22.3 million (4.60%) experienced a slight decrease of 5.09% in shares.
- Amazon (AMZN): A Consumer Cyclical stock valued at $20.8 million (4.30%) shows the most dramatic change, with a 71.47% increase in shares and a corresponding decrease in shares for other positions.
Strategic Focus and Sector Allocation
The portfolio's holdings reveal a strategic focus on large, established technology companies and communication platforms. Alphabet (GOOGL), Microsoft (MSFT), and Taiwan Semiconductor (TSM) are key Technology holdings, while Alphabet (GOOGL), Meta Platforms (META), and Booking Holdings (BKNG) form the core of the Communication Services allocation. This indicates a preference for companies with strong market positions and exposure to digital transformation trends.
While Technology and Communication Services are the dominant sectors, the portfolio also includes exposure to Financial Services (VISA) and Industrials (Old Dominion Freight Line). The significant allocation to these sectors, combined with the large-cap focus, suggests a strategy favoring stability and growth potential from established corporate entities rather than small-cap value or cyclical high-growth sectors.
Recent Changes and Position Adjustments
The portfolio manager has made notable adjustments to the holdings in the recent period. Booking Holdings (BKNG) saw a modest increase in its position, while several large holdings experienced slight decreases: Alphabet (GOOGL) -5.01%, Taiwan Semiconductor (TSM) -29.95%, Meta Platforms (META) -4.82%, Apple (AAPL) -5.45%, Motorola Solutions (MSI) -5.27%, Microsoft (MSFT) -4.62%, and VISA (V) -4.75%. The most striking change is the substantial increase in Amazon (AMZN) shares, which grew by 71.47%. This significant addition or retention of Amazon stock likely played a major role in the portfolio's performance during this period.
Conclusion
David Rolfe's portfolio at Wedgewood Partners exhibits a concentrated strategy centered on large-cap Technology and Communication Services stocks. The holdings reflect confidence in major tech players and digital platforms. Recent activity highlights a significant boost from Amazon, while other large positions saw minor reductions. The overall profile suggests a preference for established leadership and exposure to digital growth themes within the large-cap segment of the market.