As the CFA and CIO of Wedgewood Partners Inc., Guru David Rolfe has been managing Wedgewood's portfolio for over 18 years. Rolfe recently increased his position with 18 companies in the first quarter of 2013, but he didn’t buy any new stocks and traded very little otherwise. He did reduce his position with two high-gainers, Gilead Sciences Inc. (NASDAQ:GILD), up 126% over the last 12 months and Charles Schwab Corp. (NYSE:SCHW), up 67% over 12 months. Rolfe’s recently updated portfolio lists 22 stocks, with a total value of $2.98 billion and a quarter-over-quarter turnover of 22%. According to GuruFocus research, Guru David Rolfe made the following trades in the first quarter of 2013.
Here are the details of his reductions, as of March 31, 2013.
Reduced: Charles Schwab Corp. (NYSE:SCHW) – Capital Markets
As of March 31, 2013, David Rolfe reduced his position with SCHW by 9%, selling 619,616 shares at an average price of $16.58 for a gain of 22.6%. Rolfe had gains in all five quarters of holding SCHW, with four quarters of gains at 51.9% or higher. This trade impacts his portfolio by -0.41%. Rolfe holds 6,267,418 shares after the trade.
The current share price is $20.16, with a change from average up 22%.
Up 34% year to date, Charles Schwab Corp. (NYSE:SCHW) has a market cap of $25.69 billion. It trades with a P/E of 29.50 and a P/S of 5.20.
Through its subsidiaries, Charles Schwab Corp. is engaged in securities brokerage, banking and related financial services. The company provides financial services to individuals and institutional clients through two segments, Investor Services and Institutional Services.
Reduced: Gilead Sciences Inc. (NASDAQ:GILD) – Biotechnology
As of March 31, 2013, David Rolfe also reduced his position with GILD by 3.03%, selling 70,285 shares at an average price of $41.83 for a gain of 32.3%. Rolfe had gains in all 18 quarters of holding, with 15 quarters of gains at 121.9% or higher. This trade impacts his portfolio by -0.12%. He holds 2,251,933 shares after the trade.
The current share price is $55.80, with a change from average up 34%.
Up 47% year to date, Gilead Sciences Inc. (NASDAQ:GILD) has a market cap of $84.16 billion. It trades with a P/E of 31.20 and a P/S of 9.03.
With operations in North America, Europe and Australia, Gilead Sciences Inc. (NASDAQ:GILD) is a research-based biopharmaceutical company that develops medicines for HIV/AIDS, liver diseases and serious cardiovascular, metabolic and respiratory conditions.
Study the rest of David Rolfe’s trades.
Wedgewood Partners uses a large-cap growth strategy combined with an “invest as business owners” process. The company has outperformed both the S&P 500 and Russell 1000 indexes for 15 years, with Wedgewood at 10.01, Russell 1000 Growth at 3.59 and S&P 500 at 4.47.
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