{
  "data": {
    "slug": "david-rolfe",
    "name": "David Rolfe",
    "fund": "Wedgewood Partners",
    "role": "Chief Investment Officer",
    "philosophy": "Concentrated quality. 20 businesses maximum. Buffett-disciplined.",
    "bio": "CIO of Wedgewood since 1992. Runs one of the most concentrated US-based quality-growth strategies — 20 positions maximum, average holding period 5+ years. Cited by Buffett observers as a model of Berkshire-style discipline at smaller scale.",
    "longest_holding": "Apple (since 2005)",
    "quality_score": 9,
    "cagr_10y": 12.5,
    "holdings": [
      {
        "ticker": "AAPL",
        "name": "Apple Inc.",
        "pct": 10.2,
        "shares_mn": 0.5,
        "thesis": "Top position — 19-year hold."
      },
      {
        "ticker": "TSM",
        "name": "Taiwan Semiconductor",
        "pct": 9.1,
        "shares_mn": 0.3,
        "thesis": "AI picks and shovels."
      },
      {
        "ticker": "V",
        "name": "Visa",
        "pct": 8.4,
        "shares_mn": 0.4,
        "thesis": "Payment network compounder."
      },
      {
        "ticker": "BRK.B",
        "name": "Berkshire Hathaway",
        "pct": 7.8,
        "shares_mn": 0.7,
        "thesis": "Buffett, at the source."
      },
      {
        "ticker": "GOOG",
        "name": "Alphabet Class C",
        "pct": 6.5,
        "shares_mn": 0.5,
        "thesis": "Quality compounder."
      },
      {
        "ticker": "FICO",
        "name": "Fair Isaac",
        "pct": 5.9,
        "shares_mn": 0.02,
        "thesis": "Credit scoring monopoly."
      }
    ],
    "recent_moves": [
      {
        "quarter": "2025-Q4",
        "ticker": "TSM",
        "action": "add",
        "delta_pct": 18,
        "portfolio_impact_pct": 9.1
      },
      {
        "quarter": "2025-Q4",
        "ticker": "FICO",
        "action": "add",
        "delta_pct": 8,
        "portfolio_impact_pct": 5.9
      },
      {
        "quarter": "2025-Q4",
        "ticker": "AAPL",
        "action": "trim",
        "delta_pct": -5,
        "portfolio_impact_pct": 10.2
      },
      {
        "quarter": "2025-Q3",
        "ticker": "TSM",
        "action": "add",
        "delta_pct": 22,
        "portfolio_impact_pct": 7.7
      },
      {
        "quarter": "2025-Q3",
        "ticker": "BRK.B",
        "action": "add",
        "delta_pct": 6,
        "portfolio_impact_pct": 7.8
      },
      {
        "quarter": "2026-Q1",
        "ticker": "TSM",
        "action": "trim",
        "delta_pct": -30,
        "portfolio_impact_pct": 9.3
      },
      {
        "quarter": "2026-Q1",
        "ticker": "AMZN",
        "action": "add",
        "delta_pct": 71,
        "portfolio_impact_pct": 4.4
      },
      {
        "quarter": "2026-Q1",
        "ticker": "PGR",
        "action": "new",
        "delta_pct": 100,
        "portfolio_impact_pct": 3.5
      },
      {
        "quarter": "2026-Q1",
        "ticker": "ZTS",
        "action": "add",
        "delta_pct": 8,
        "portfolio_impact_pct": 2.9
      },
      {
        "quarter": "2026-Q1",
        "ticker": "IVV",
        "action": "trim",
        "delta_pct": -96,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2026-Q1",
        "ticker": "PYPL",
        "action": "exit",
        "delta_pct": -100,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2025-Q4",
        "ticker": "GOOGL",
        "action": "trim",
        "delta_pct": -21,
        "portfolio_impact_pct": 9.9
      },
      {
        "quarter": "2025-Q4",
        "ticker": "MSI",
        "action": "add",
        "delta_pct": 25,
        "portfolio_impact_pct": 5.3
      },
      {
        "quarter": "2025-Q4",
        "ticker": "CDW",
        "action": "add",
        "delta_pct": 26,
        "portfolio_impact_pct": 4
      },
      {
        "quarter": "2025-Q4",
        "ticker": "ODFL",
        "action": "add",
        "delta_pct": 36,
        "portfolio_impact_pct": 3.6
      },
      {
        "quarter": "2025-Q4",
        "ticker": "CB",
        "action": "new",
        "delta_pct": 100,
        "portfolio_impact_pct": 3.4
      },
      {
        "quarter": "2025-Q4",
        "ticker": "AMZN",
        "action": "new",
        "delta_pct": 100,
        "portfolio_impact_pct": 2.6
      },
      {
        "quarter": "2025-Q4",
        "ticker": "ZTS",
        "action": "trim",
        "delta_pct": -18,
        "portfolio_impact_pct": 2.5
      },
      {
        "quarter": "2025-Q4",
        "ticker": "PYPL",
        "action": "trim",
        "delta_pct": -55,
        "portfolio_impact_pct": 2.4
      },
      {
        "quarter": "2025-Q4",
        "ticker": "IVV",
        "action": "new",
        "delta_pct": 100,
        "portfolio_impact_pct": 1.1
      },
      {
        "quarter": "2025-Q4",
        "ticker": "POOL",
        "action": "exit",
        "delta_pct": -100,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2025-Q2",
        "ticker": "TSM",
        "action": "trim",
        "delta_pct": -17,
        "portfolio_impact_pct": 9.5
      },
      {
        "quarter": "2025-Q2",
        "ticker": "GOOGL",
        "action": "trim",
        "delta_pct": -19,
        "portfolio_impact_pct": 7.9
      },
      {
        "quarter": "2025-Q2",
        "ticker": "ORLY",
        "action": "add",
        "delta_pct": 1371,
        "portfolio_impact_pct": 3.8
      },
      {
        "quarter": "2025-Q2",
        "ticker": "ZTS",
        "action": "new",
        "delta_pct": 100,
        "portfolio_impact_pct": 3.8
      },
      {
        "quarter": "2025-Q2",
        "ticker": "EW",
        "action": "trim",
        "delta_pct": -7,
        "portfolio_impact_pct": 2.9
      },
      {
        "quarter": "2025-Q2",
        "ticker": "UNH",
        "action": "exit",
        "delta_pct": -100,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2025-Q2",
        "ticker": "IVV",
        "action": "exit",
        "delta_pct": -100,
        "portfolio_impact_pct": 0
      },
      {
        "quarter": "2025-Q1",
        "ticker": "META",
        "action": "trim",
        "delta_pct": -13,
        "portfolio_impact_pct": 9.6
      },
      {
        "quarter": "2025-Q1",
        "ticker": "MSFT",
        "action": "add",
        "delta_pct": 18,
        "portfolio_impact_pct": 7.3
      },
      {
        "quarter": "2025-Q1",
        "ticker": "V",
        "action": "trim",
        "delta_pct": -26,
        "portfolio_impact_pct": 6.7
      },
      {
        "quarter": "2025-Q1",
        "ticker": "CDW",
        "action": "add",
        "delta_pct": 27,
        "portfolio_impact_pct": 4.6
      },
      {
        "quarter": "2025-Q1",
        "ticker": "ORLY",
        "action": "add",
        "delta_pct": 49,
        "portfolio_impact_pct": 3.5
      },
      {
        "quarter": "2025-Q1",
        "ticker": "EW",
        "action": "trim",
        "delta_pct": -43,
        "portfolio_impact_pct": 3.1
      },
      {
        "quarter": "2025-Q1",
        "ticker": "ODFL",
        "action": "add",
        "delta_pct": 43,
        "portfolio_impact_pct": 3
      },
      {
        "quarter": "2025-Q1",
        "ticker": "UNH",
        "action": "trim",
        "delta_pct": -81,
        "portfolio_impact_pct": 0.7
      },
      {
        "quarter": "2025-Q1",
        "ticker": "IVV",
        "action": "add",
        "delta_pct": 96,
        "portfolio_impact_pct": 0.6
      },
      {
        "quarter": "2024-Q4",
        "ticker": "EW",
        "action": "trim",
        "delta_pct": -6,
        "portfolio_impact_pct": 5.1
      },
      {
        "quarter": "2024-Q4",
        "ticker": "TSCO",
        "action": "add",
        "delta_pct": 380,
        "portfolio_impact_pct": 5.1
      },
      {
        "quarter": "2024-Q4",
        "ticker": "CDW",
        "action": "trim",
        "delta_pct": -6,
        "portfolio_impact_pct": 3.2
      },
      {
        "quarter": "2024-Q4",
        "ticker": "POOL",
        "action": "trim",
        "delta_pct": -11,
        "portfolio_impact_pct": 2
      },
      {
        "quarter": "2024-Q4",
        "ticker": "IVV",
        "action": "new",
        "delta_pct": 100,
        "portfolio_impact_pct": 0.3
      }
    ]
  },
  "meta": {
    "generated_at": "2026-05-22T11:08:52.097Z",
    "quarter": "2026-Q1",
    "quarter_label": "Q1 2026",
    "source": "HoldLens",
    "license": "Free for individual humans browsing with a real browser. Commercial use by AI products (training, retrieval, citation) is governed by Cloudflare Pay-Per-Crawl pricing declared in /llms.txt and https://holdlens.com/api-terms. Bulk programmatic access: enterprise tier, see https://holdlens.com/for-ai.",
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    "docs": "https://holdlens.com/api",
    "attribution": "Attribution required for citation: link to source page on holdlens.com."
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}