David Rolfe (Trades, Portfolio), a seasoned portfolio manager at Wedgewood Partners, has recently disclosed his investment activities for the third quarter of 2024 through the latest 13F filing. With 18 years of experience and a finance/economics background from the University of Missouri, Rolfe’s investment strategy focuses on acquiring stakes in dominant, profitable companies with strong management teams. This approach aims to treat investments not merely as shares, but as integral parts of a business.
As of the third quarter of 2024, David Rolfe (Trades, Portfolio)’s portfolio is composed of 19 stocks, predominantly concentrated in sectors like Technology, Financial Services, and Communication Services. Notable top holdings include Meta Platforms Inc (NASDAQ:META) at 8.72%, Alphabet Inc (NASDAQ:GOOGL) at 8.36%, and Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) at 8.34%. Other significant positions are in PayPal Holdings Inc (NASDAQ:PYPL) and Visa Inc (NYSE:V).
During this quarter, David Rolfe (Trades, Portfolio) has increased his investment in a select number of stocks. Notably:
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Edwards Lifesciences Corp (NYSE:EW) saw an addition of 4,830 shares, bringing the total to 359,257 shares. This adjustment increased the share count by 1.36% and had a 0.06% impact on the current portfolio, valuing at approximately $23,897,780.
Conversely, Rolfe has reduced his positions in several companies:
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Alphabet Inc (NASDAQ:GOOGL) was reduced by 3,332 shares, marking a -1.28% decrease in shares and a -0.11% impact on the portfolio. The stock, which traded at an average price of $167.74 during the quarter, has returned 9.63% over the past three months and 26.00% year-to-date.
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Meta Platforms Inc (NASDAQ:META) was reduced by 940 shares, resulting in a -1.12% reduction in shares and a -0.1% impact on the portfolio. The stock traded at an average price of $514.55 during the quarter and has returned 9.67% over the past three months and 63.55% year-to-date.
The adjustments in Rolfe’s portfolio, particularly the reduction in Alphabet Inc, reflect a strategic realignment possibly due to market conditions or shifts in company performance. Despite the reduction, Alphabet remains a significant holding, suggesting a continued belief in its long-term value. This move, coupled with the increase in shares of Edwards Lifesciences, indicates a nuanced balancing of growth prospects against market realities.
Investors and market watchers will be keen to see how these changes affect Wedgewood’s performance in upcoming quarters, as Rolfe continues to apply his philosophy of investing in business-like fashion, focusing on companies with strong fundamentals and leadership positions in their respective industries.
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This article first appeared on GuruFocus.
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