Insight into Wedgewood's Latest Portfolio Adjustments and Key Stock Movements
David Rolfe (Trades, Portfolio), a seasoned portfolio manager with 18 years at the helm of Wedgewood's investment strategy, has made notable changes in the third quarter of 2023. A University of Missouri alumnus with a B.S.B.A. in Finance/Economics, Rolfe's investment philosophy centers on owning companies with irreplaceable products or services, consistent growth, high profitability, and shareholder-oriented management. This approach has guided his recent investment decisions, as reflected in the latest 13F report.
New Additions to the Portfolio
David Rolfe (Trades, Portfolio)'s recent acquisitions include two new stocks:
- O'Reilly Automotive Inc (ORLY, Financial), with 9,452 shares, now comprises 2.06% of the portfolio, valued at $8.59 million.
- iShares Russell 1000 Growth ETF (IWF, Financial), with 1,339 shares, making up approximately 0.09% of the portfolio, valued at $356,160.
Complete Exits from Holdings
The third quarter also saw Rolfe exit several positions entirely:
- Berkshire Hathaway Inc (BRK.B, Financial): All 19,300 shares were sold, impacting the portfolio by -1.06%.
- U.S. Bancorp (USB, Financial): The liquidation of 61,775 shares resulted in a -0.33% portfolio impact.
Significant Reductions in Key Positions
Noteworthy reductions were made in 19 stocks, with the most impactful being:
- Apple Inc (AAPL, Financial) saw a reduction of 144,673 shares, a -43.85% decrease, affecting the portfolio by -4.52%. The stock's average trading price was $183.38 during the quarter, with a 4.58% return over the past three months and a 45.07% year-to-date gain.
- Visa Inc (V, Financial) was reduced by 57,824 shares, a -32.73% decrease, with a -2.21% impact on the portfolio. The stock traded at an average price of $240.37 and returned 1.88% over the past three months and 19.80% year-to-date.
Portfolio Overview and Sector Allocation
As of the third quarter of 2023, David Rolfe (Trades, Portfolio)'s portfolio is composed of 21 stocks. The top holdings include 9.95% in Meta Platforms Inc (META, Financial), 8.74% in Alphabet Inc (GOOGL, Financial), 7.59% in Apple Inc (AAPL), 6.98% in Motorola Solutions Inc (MSI, Financial), and 6.54% in Visa Inc (V). The investments are predominantly concentrated in seven industries: Technology, Communication Services, Financial Services, Consumer Cyclical, Industrials, Healthcare, and Energy.
David Rolfe (Trades, Portfolio)'s strategic moves, particularly the significant reduction in Apple Inc, reflect his commitment to a disciplined investment philosophy. As market dynamics evolve, Rolfe's adjustments offer valuable insights to value investors seeking to understand the rationale behind portfolio rebalancing and the pursuit of long-term wealth creation.
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.
