Wedgewood Partners

David Rolfe

US-listed stocks across every Wedgewood account, including accounts that belong to no fund below. David Rolfe runs Wedgewood Partners, a St. Louis investment firm he joined in 1992 and has led as chief investment officer since the founding manager retired that same year. Born in 1961, Rolfe studied finance at the University of Missouri and started out on the sell side at PaineWebber in the mid-1980s, then moved to the buy side after the 1987 crash as a portfolio manager at Centerre Trust, which soon merged into Boatmen's Trust. It was there, managing money inside a bank that also held a large custody business, that he began building the concentrated, long-hold approach that would define his career. He credits following Warren Buffett since his college years — and the "seeds" of Buffett and Benjamin Graham — as the foundation of his thinking. Wedgewood itself was founded in 1988 by Tony Guerrerio, a St. Louis banker who had earlier launched Mark Twain Brokerage Services and held leadership roles at Mark Twain Bancshares. When Guerrerio stepped back, Rolfe took over portfolio management and shaped the firm's signature style: a focused growth strategy that borrows from value investing, holding roughly fifteen to twenty large-cap businesses with durable competitive advantages, bought only when they hit temporary trouble and kept for years with very low turnover. Rolfe describes the work as "investing as business owners" rather than trading, and the firm was named separately managed account manager of the year in both 2011 and 2013 under his leadership.