Insight into Wedgewood's Latest Investment Decisions and Portfolio Changes
David Rolfe (Trades, Portfolio), the seasoned portfolio manager at Wedgewood Partners, has made notable changes to his investment portfolio in the fourth quarter of 2023. With 18 years of experience and a finance/economics background from the University of Missouri, Rolfe's investment strategy is deeply rooted in the philosophy of investing as "owners" in dominant, profitable companies with strong management teams. His latest 13F filing reveals strategic adjustments, reflecting his commitment to this long-term wealth creation approach.
Key Position Increases
David Rolfe (Trades, Portfolio) has bolstered his stakes in three stocks during the last quarter. Noteworthy increases include:
- PayPal Holdings Inc (PYPL, Financial) saw an addition of 171,607 shares, bringing the total to 521,119 shares. This 49.1% increase in share count had a 2.1% impact on the portfolio, with a total value of $30,360,390.
- Edwards Lifesciences Corp (EW, Financial) experienced an increase of 56,855 shares, resulting in a total of 250,652 shares. This 29.34% increase in share count corresponds to a total value of $21,621,200.
Summary of Sold Out Positions
In a decisive move, David Rolfe (Trades, Portfolio) liquidated his position in one holding:
- The complete sale of iShares Russell 1000 Growth ETF (IWF, Financial) involved 1,339 shares, impacting the portfolio by -0.09%.
Key Position Reductions
David Rolfe (Trades, Portfolio) also trimmed positions in 16 stocks, with significant reductions in:
- Meta Platforms Inc (META, Financial) by 36,390 shares, a -26.27% decrease in shares, resulting in a -2.61% portfolio impact. The stock's average trading price was $325.65 during the quarter, with a 40.71% return over the past three months and a 33.70% year-to-date return.
- Motorola Solutions Inc (MSI, Financial) by 24,950 shares, marking a -23.27% reduction in shares and a -1.62% impact on the portfolio. The stock traded at an average price of $302.67 during the quarter, with a 2.59% return over the past three months and a 2.01% year-to-date return.
Portfolio Overview
As of the fourth quarter of 2023, David Rolfe (Trades, Portfolio)'s portfolio comprised 20 stocks. The top holdings included 9.89% in Meta Platforms Inc (META), 8.29% in Alphabet Inc (GOOGL, Financial), 7.73% in Visa Inc (V, Financial), 7.03% in Apple Inc (AAPL, Financial), and 6.94% in Taiwan Semiconductor Manufacturing Co Ltd (TSM, Financial). The investments are primarily concentrated across seven industries: Technology, Communication Services, Financial Services, Consumer Cyclical, Industrials, Healthcare, and Energy, showcasing Rolfe's strategic diversification.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
