David Rolfe

David Rolfe

Last Update: 05-15-2015

Number of Stocks: 22
Number of New Stocks: 0

Total Value: $7,452 Mil
Q/Q Turnover: 5%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

David Rolfe' s Profile & Performance

Profile

David Rolfe has been managing Wedgewood's portfolio for 18 years. He studied at University of Missouri and received a degree of B.S.B.A. in Finance/Economics in 1984.

Web Page:http://wedgewoodpartners.com/

Investing Philosophy

Wedgewood's underlying equity investment philosophy is predicated on a strong belief that significant long-term wealth will be created by investing as "owners" in companies. In our "Invest as Business Owners" approach, we seek companies that the following characteristics:

1. A dominant product or service that is practically irreplaceable or lacks substitutes.
2. A sustainable and consistent level of growing revenues, earnings and dividends.
3. A high level of profitability, measured by return on equity without the use of excessive debt.
4. A strong management team that is shareholder oriented.

This is the flow chart of their process:

Total Holding History

Performance of Wedgewood Partners

YearReturn (%)S&P500 (%)Excess Gain (%)
201329.8632.39-2.5
201221.75165.8
20115.612.113.5
3-Year Cumulative67 (18.6%/year)56.8 (16.2%/year)10.2 (2.4%/year)
201014.515.06-0.6
200960.8326.4634.4
5-Year Cumulative207.5 (25.2%/year)128.2 (17.9%/year)79.3 (7.3%/year)
2008-38.12-37-1.1
200715.045.499.6
2006-2.7715.79-18.6
20055.844.910.9
20049.6110.88-1.3
10-Year Cumulative146.9 (9.5%/year)104.2 (7.4%/year)42.7 (2.1%/year)
200342.2528.6813.6
2002-20.42-22.11.7
2001-7.72-11.894.2
2000-10.31-9.1-1.2
199956.9921.0436.0
15-Year Cumulative263.2 (9%/year)98.5 (4.7%/year)164.7 (4.3%/year)
199849.628.5821.0
199721.133.36-12.3
199623.5722.960.6
199542.5937.585.0
19943.781.322.5
20-Year Cumulative1103.1 (13.2%/year)483.4 (9.2%/year)619.7 (4%/year)
1993-6.2110.08-16.3

Top Ranked Articles

GEICO - The “Growth Company” That Made the “Value Investing” Careers of Both Benjamin Graham and Warren Buffett (Wedgewood VIC Presentation)
"In 1948, we made our GEICO investment and from then on, we seemed to be very brilliant people." Read more...
GuruFocus Interview with Wedgewood's David Rolfe at the Omaha Value Investing Conference
GuruFocus interviewed Guru and Wedgewood Partners' Chief Investor Officer David Rolfe at the 10th Annual Value Investor Conference in Omaha. Over the last 20 years, Rolfe has achieved a 774.5% cumulative return, versus 388.1% for the S&P 500, while consistently beating the index. Currently, Wedgewood manages about $3 billion in a single strategy. Read more...
Ask Wedgewood Partners' David Rolfe Your Investing Question for GuruFocus Reader Q&A
David Rolfe, chief investment officer of the $1.3 billion investment management firm Wedgewood Partners Inc., is joining GuruFocus for a reader Q&A. Rolfe has also been a Premium Member of GuruFocus since 2007. Readers are welcome to submit their questions – regarding Wedgewood’s process, their personal investing or the economy at large – by entering them in the comments box below. Read more...
20 Questions With David Rolfe - Part II
Read Part I of GuruFocus' interview with David Rolfe here. Read more...
20 Questions With David Rolfe Part I
Founder and CEO of GuruFocus, Charlie Tian, had the pleasure of interviewing David Rolfe (Trades, Portfolio) at this year’s Berkshire Hathaway (BRK.A)(NYSE:BRK.B) shareholder meeting at Omaha. Rolfe discussed his current holdings, his most heavily weighted positions and even gave advice to young investors or those who are thinking about becoming investors but have not yet taken the leap. Read more...
» More David Rolfe Articles

Commentaries and Stories

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Coach: Don’t Beat A Dead Horse
If you bought Coach (NYSE:COH) stock July 25, 2005, you paid $36 at the open and $34.94 at the close. Today, the stock sits under $31 and while they have paid out $4.71 in dividends, after taxes, you are flat and your money is kicking you for it. More...

LUXURY RETAIL GOODS, LOUIS VUITTON, GUCCI, HERMES, CHANEL, PRADA, BURBERRY, KORS, COACH


  • Currently 4.25/5

Rating: 4.3/5 (4 votes)

Qualcomm: A David Rolfe Bargain Stock  David Rolfe - Qualcomm: A David Rolfe Bargain Stock 
David Rolfe (Trades, Portfolio) is the CIO of Wedgewood Parnters, a St. Louis based mutual fund management firm founded in 1988. The great thing about Rolfe is that he limits the holdings to about 20 investments, which is abnormal for a mutual fund. And, given that his fund has outpaced the S&P over the last 3, 5, 10, 15, and 20 year periods, this approach has withstood the test of time. Too bad more mutual funds don’t follow this approach. More...

TECHNOLOGY, COMMUNICATION, QUALCOMM, David Rolfe


  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Wedgewood Partners 2nd Quarter 2015 Client Letter - Wedgewood On Sale
Wedgewood Partners 2nd Quarter 2015 Client Letter More...

David Rolfe, Wedgewood Partners


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What It Means To Be A Focused Value Investor - David Rolfe Of Wedgewood Partners David Rolfe - What It Means To Be A Focused Value Investor - David Rolfe Of Wedgewood Partners
You don't need to have a high IQ in order to be a successful value investor. More...

David Rolfe, Video


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Rating: 1.0/5 (1 vote)

David Rolfe Adds to Most Valuable Stakes in His Portfolio David Rolfe - David Rolfe Adds To Most Valuable Stakes In His Portfolio
In his role as manager of Wedgewood Partners’ portfolio, David Rolfe (Trades, Portfolio)’s investment philosophy has been centered around the belief that significant wealth can be created by investing as “owners” of companies. More...

STOCKS, HIGH VALUED


  • Currently 5.00/5

Rating: 5.0/5 (5 votes)

20 Questions With David Rolfe - Part II David Rolfe - 20 Questions With David Rolfe - Part II
Read Part I of GuruFocus' interview with David Rolfe here. More...

INTERVIEW, WEDGEWOOD, STOCKS, INVESTMENT 20 QUESTIONS, David Rolfe


  • Currently 5.00/5

Rating: 5.0/5 (5 votes)

20 Questions With David Rolfe Part I David Rolfe - 20 Questions With David Rolfe Part I
Founder and CEO of GuruFocus, Charlie Tian, had the pleasure of interviewing David Rolfe (Trades, Portfolio) at this year’s Berkshire Hathaway (BRK.A)(NYSE:BRK.B) shareholder meeting at Omaha. Rolfe discussed his current holdings, his most heavily weighted positions and even gave advice to young investors or those who are thinking about becoming investors but have not yet taken the leap. More...

WEDGEWOOD, 20 QUESTIONS, INTERVIEW, Q&A, David Rolfe


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Rating: 0.0/5 (0 votes)

David Rolfe Comments on Core Laboratories NV
Core Laboratories (CLB) has carved out a dominant and exceptionally profitable niche in the oil service industry. The Company has a singular focus on obtaining, analyzing and rendering proprietary datasets related to the quality, efficiency and efficacy of a client’s oilfield production and development activities. In addition, the Company utilizes these data sets (and experience) to develop highly differentiated tools and equipment that are particularly useful during the development and production stages of an oilfield. More...

  • Currently 1.00/5

Rating: 1.0/5 (1 vote)

First Eagle is Long in National Oilwell
In this article, let's take a look at National Oilwell Varco, Inc. (NYSE:NOV), a $20.36 billion market cap company, which is a company that designs and manufactures drill rig equipment, provides down hole tools and services, and also provides supply chain integration services to the upstream oil and gas industry. More...

First Eagle, National Oilwell Varco


  • Currently 4.00/5

Rating: 4.0/5 (4 votes)

David Rolfe On When to Trim Berkshire Hathaway Position David Rolfe - David Rolfe On When To Trim Berkshire Hathaway Position
Why would you trim your stake in Berkshire Hathaway (NYSE:BRK.A) (BRK.B)? More...

David Rolfe, Warren Buffett, Berkshire Hathaway, Video


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Rolfe Adds One Company to Portfolio in Fourth Quarter David Rolfe - Rolfe Adds One Company To Portfolio In Fourth Quarter
Guru David Rolfe (Trades, Portfolio), CFA and chief investment officer of Wedgewood Partners, has a small portfolio compared to many gurus, but he adheres to Westwood’s investment philosophy – significant long-term wealth can be created by investing as "owners" in companies. More...

David Rolfe


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Wedgewood Partners Q4 2014 Client Letter - '2015 - Groundhog Day or Wizard of Oz?'
Review and Outlook More...

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Rating: 5.0/5 (2 votes)

Another Guru Goes for Oil - David Rolfe Buys Core Labs David Rolfe - Another Guru Goes For Oil - David Rolfe Buys Core Labs
David Rolfe (Trades, Portfolio) is the latest guru to dip his toe in oil as more value-conscious investors eye the commodity’s 45% price slump from June peaks. Rolfe picked up shares of Core Laboratories NV (NYSE:CLB), a global reservoir optimization technology company that enables its clients to extract more oil and gas from wells. More...

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David Rolfe's Wedgewood Partners Q3 2014 Portfolio Commentary
Review and Outlook Our Composite (net-­of-­fees) was basically flat (+0.30%) during the third quarter of 2014. This rounding-­error gain is below both the gain in the Standard & Poor’s 500 Index of +1.13% and the gain of +1.49% in the Russell 1000 Growth Index. More...

David Rolfe, Wedgewood Partners, Commentary


  • Currently 3.67/5

Rating: 3.7/5 (3 votes)

Stericycle: A Triple Screener Hit David Rolfe,Jim Simons,Meridian Funds,Warren Buffe - Stericycle: A Triple Screener Hit
Just a generation ago, our collective attitude to hazardous waste might have been described as lackadaisical, at best. Syringes, bio-wastes and other waste products from the health care system often went into regular waste streams with little concern. More...

WASTE MANAGEMENT, UNDERVALUED PREDICTABLE, BUFFETT MUNGER, LOW P/S


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Quickly Gain A Wealth Of Information From The GuruFocus Summary Page (Using Apple As An Example) David Rolfe,Meridian Funds,Diamond Hill Capital,Ro - Quickly Gain A Wealth Of Information From The GuruFocus Summary Page (Using Apple As An Example)
When investing in a company, it is not only necessary to know about the company itself, but also how the stock is valued. Viewing a company through its summary page at GuruFocus provides a wealth of information to help understand its financial strength, profitability, growth and valuation, and see how the gurus and insiders are trading the stock. The features of the summary page can help you decide in minutes if not seconds whether or not to further investigate the stock for an investment opportunity. The summary page at GuruFocus should be your first destination when researching a particular stock. More...

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Schlumberger is the Largest Oil-Service Company in the World and Fits Any Portfolio David Rolfe,Ken Fisher - Schlumberger Is The Largest Oil-Service Company In The World And Fits Any Portfolio
In this article, let's take a look at Schlumberger Limited (NYSE:SLB), a $141.86 billion market cap company, which is a leading oilfield services company providing equipment and technology to the oil and gas industry worldwide. More...

  • Currently 3.25/5

Rating: 3.3/5 (4 votes)

Widely Held Guru Stocks Near Historical Low P/B Ratios David Rolfe,John Rogers - Widely Held Guru Stocks Near Historical Low P/B Ratios
Buying stocks at historically low price-to-book (P/B) ratios has been an effective strategy. The model portfolio, “Top 25 Historical Low P/B Ratio Companies”, has outperformed the S&P 500 by 29.51 percent since its inception in 2010. The following stocks are widely held by the investing gurus we follow and are trading near their historical low P/B ratios: More...

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David Rolfe Comments on Apple
Apple (AAPL), circa 2012-2014, is Exhibit A on how investing with the conviction of a successful business owner is a prerequisite for repeatable investment success. Before we explain, we would like to offer up pop quiz. Quick, off the top of your head, what is the 1-year, 2-year and 3-year return (roughly) of Apple stock (and the S&P 500 too) as of the end of the second quarter? Here is a graphic hint: More...

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Rating: 0.0/5 (0 votes)

David Rolfe Comments on Coach
Coach (COH) shares significantly declined during the quarter and have been a relative detractor since we first began purchasing shares in July 2012. With clearer hindsight, where did we go wrong on our initial timing? Our view then was that the Company's lackluster North American sales slump was largely due to a pause in creative new product. Thus, our initial investment in these shares came far too early in the Company's efforts to reinvigorate their iconic brand. More...

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