In a notable move, David Rolfe's firm, Wedgewood Partners, increased its stake in Microsoft by over 21%, according to its latest 13F filing. The firm added approximately 15,600 shares, bringing its total position to 89,520 shares. This transaction boosted the value of its Microsoft holding to roughly $33.4 million and increased its portfolio allocation to the software giant to 6.89%.
This disclosure, which reflects trades made during the second quarter ending June 30, 2026, revealed the firm was "unusually busy." In its quarterly letter, Wedgewood stated it increased its positions in several "hyperscalers," including Microsoft, arguing that their massive spending on AI capital expenditures is a rational strategy given their high returns on capital. The move was part of a broader capital rotation within the fund's concentrated portfolio.