We report the synthesis and characterization of axial nanorod heterostructures composed of cadmium selenide (CdSe) and cadmium sulfide (CdS). The synthesis employs a solution-liquid-solid (SLS) mechanism with the assistance of bismuth nanocrystals adhered to a substrate (silicon or a III-V semiconductor). Transmission electron microscopy (TEM) and diffraction studies show that CdSe and CdS segments exhibit the wurtzite (hexagonal) crystal structure with < 5% stacking faults. Both of these segments grow along the [002] direction with an epitaxial interface between them. Energy-dispersive X-ray (EDX) spectrometry using a high-resolution TEM operating in scanning mode confirms the alloy-free composition modulation in the nanorod heterostructures, showing that Se and S are localized in the CdSe and CdS portions of the nanorod heterostructures, respectively. This study demonstrates that SLS synthesis provides an alternate route to prepare axial nanorod heterostructures that have been difficult to generate using either vapor-liquid-solid growth or catalyst-free solution-phase synthesis.