Tech Giants Dominate David Rolfe's Portfolio
Wedgewood Partners' portfolio, as of March 31, 2026, is heavily concentrated in leading tech and communication stocks.
Portfolio Overview
The portfolio managed by David Rolfe at Wedgewood Partners, as of March 31, 2026, demonstrates a clear preference for large-cap technology and communication services stocks. The holdings are dominated by major tech players and companies in the travel and logistics sectors.
Top Holdings Analysis
The largest position by total value is Alphabet Inc. (GOOGL), representing approximately $44.8 million or 9.25% of the portfolio. This is followed by Taiwan Semiconductor Manufacturing (TSM), valued at $43.7 million (9.03%), and Meta Platforms (META) with $37.6 million (7.77%).
- GOOGL: Holds 155,701 shares, experienced a slight decrease in shares (-5.01%) from the previous period.
- TSM: Holds 129,353 shares, saw a significant reduction in shares (-29.95%) over the period.
- META: Holds 65,805 shares, experienced a moderate decrease in shares (-4.82%) from the previous period.
- AAPL: Holds 135,128 shares, experienced a moderate decrease in shares (-5.45%) from the previous period.
- MSFT: Holds 73,919 shares, experienced a moderate decrease in shares (-4.62%) from the previous period.
Strategic Focus and Sector Allocation
The portfolio exhibits a strong concentration in the Technology sector, with Alphabet (GOOGL), Taiwan Semiconductor (TSM), Meta (META), and Microsoft (MSFT) collectively accounting for a substantial portion of the holdings. This indicates a strategic tilt towards the technology industry, particularly favoring established large-cap names.
Complementing the tech focus, the portfolio includes significant exposure to Communication Services (Alphabet, Meta) and Financial Services (Visa). Notably, the portfolio includes Booking Holdings (BKNG) from the Consumer Cyclical sector and Old Dominion Freight Line (ODFL) from the Industrials sector, diversifying slightly beyond pure technology.
Recent Changes and Notable Activity
The portfolio has seen some noteworthy changes in its holdings during the most recent reporting period. Motorola Solutions (MSI) saw a moderate decrease in its share count (-5.27%).
Conversely, the portfolio experienced a significant increase in its position in Amazon.com (AMZN), which added 41,641 shares, resulting in a 71.47% increase in its share count. This substantial increase in Amazon's allocation is a key point to monitor.
Conclusion
David Rolfe's portfolio at Wedgewood Partners appears to be strategically concentrated in high-quality large-cap technology stocks, supplemented by positions in communication services, financials, consumer cyclical, and industrials. The significant increase in the position of Amazon.com suggests a continued confidence in the e-commerce giant, while the reductions in other large tech holdings like TSM and MSI warrant further attention to understand the underlying reasons.