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Pat Dorsey

Dorsey Asset Management · 13 closed periods in the current 3-year detail window (latest closed period: Q4 2025 → next disclosure, 10 priced positions, -0.54% return). Every disclosed long-equity position appears in the table for its period; the Valid column shows 1 (counted in the math) or 0 (excluded — hover the row for the reason). See the methodology for the exact math.

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2026-02-172026-05-15

10 of 10 priced100.00% coverage
-0.54%
Holdings from Q4 2025 disclosure · accession 0001398344-26-003214 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
ASML192,343$1419.78$1501.81$273.08M$288.86M+5.78%17.89%+1.0 bps1
DHR827,520$206.36$161.91$170.77M$133.98M-21.54%16.47%-3.5 bps1
AER1,215,059$152.56$139.77$185.37M$169.83M-8.38%15.18%-1.3 bps1
META160,450$639.29$614.23$102.57M$98.55M-3.92%9.21%-0.4 bps1
BKNG16,317$4140.15×25$154.13$67.55M$62.87M-6.93%7.60%-0.5 bps1
RPRX2,259,469$45.41$52.85$102.6M$119.41M+16.38%7.59%+1.2 bps1
LYV602,973$157.53$168.87$94.99M$101.82M+7.20%7.47%+0.5 bps1
AZO25,121$3742.00$3321.15$94M$83.43M-11.25%7.41%-0.8 bps1
GOOG216,906$302.82$393.32$65.68M$85.31M+29.89%5.92%+1.8 bps1
ENOV2,279,200$21.63$24.29$49.3M$55.36M+12.30%5.28%+0.6 bps1
Top 5 (by entry value)(5)$834.4M$810.64M-2.85%
Total(10)$1.21B$1.2B-0.54%

2025-11-142026-02-17

9 of 9 priced100.00% coverage
+6.25%
Holdings from Q3 2025 disclosure · accession 0001398344-25-020887 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
DHR860,850$221.21$206.36$190.43M$177.65M-6.71%15.34%-1.0 bps1
ASML173,226$1006.98$1419.78$174.44M$245.94M+40.99%15.07%+6.2 bps1
AER1,263,998$136.86$152.56$172.99M$192.84M+11.47%13.75%+1.6 bps1
META192,224$609.46$639.29$117.15M$122.89M+4.89%12.69%+0.6 bps1
AZO29,878$3856.87$3742.00$115.24M$111.8M-2.98%11.52%-0.3 bps1
GOOG429,318$276.98$302.82$118.91M$130.01M+9.33%9.40%+0.9 bps1
BKNG16,975$5048.01$4140.15$85.69M$70.28M-17.98%8.24%-1.5 bps1
RPRX2,350,449$39.16$45.41$92.04M$106.73M+15.96%7.45%+1.2 bps1
ENOV2,399,322$29.99$21.63$71.96M$51.9M-27.88%6.54%-1.8 bps1
Top 5 (by entry value)(5)$773.92M$869.32M+12.33%
Total(9)$1.14B$1.21B+6.25%

2025-08-142025-11-14

10 of 10 priced100.00% coverage
+6.58%
Holdings from Q2 2025 disclosure · accession 0001398344-25-015394 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
DHR926,992$210.22$221.21$194.87M$205.06M+5.23%16.42%+0.9 bps1
META245,108$782.13$609.46$191.71M$149.38M-22.08%16.22%-3.6 bps1
AER1,361,118$112.74$136.86$153.45M$186.28M+21.39%14.28%+3.1 bps1
AZO35,667$3992.48$3856.87$142.4M$137.56M-3.40%11.87%-0.4 bps1
GOOG661,990$203.82$276.98$134.93M$183.36M+35.89%10.53%+3.8 bps1
ASML139,989$755.21$1006.98$105.72M$140.97M+33.34%10.06%+3.4 bps1
BKNG18,290$5484.77$5048.01$100.32M$92.33M-7.96%9.49%-0.8 bps1
ENOV2,553,180$28.82$29.99$73.58M$76.57M+4.06%7.18%+0.3 bps1
WIX146,777$120.39$125.29$17.67M$18.39M+4.07%2.09%+0.1 bps1
SEMR2,284,578$7.42$7.06$16.95M$16.13M-4.85%1.85%-0.1 bps1
Top 5 (by entry value)(5)$817.36M$861.65M+5.42%
Total(10)$1.13B$1.21B+6.58%

2025-05-152025-08-14

11 of 11 priced100.00% coverage
+3.13%
Holdings from Q1 2025 disclosure · accession 0001398344-25-009457 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
AZO37,543$3758.37$3992.48$141.1M$149.89M+6.23%15.17%+0.9 bps1
META247,057$643.88$782.13$159.08M$193.23M+21.47%15.09%+3.2 bps1
DHR691,304$190.95$210.22$132M$145.33M+10.09%15.02%+1.5 bps1
AER1,138,542$113.59$112.74$129.33M$128.36M-0.75%12.33%-0.1 bps1
GOOG638,751$165.40$203.82$105.65M$130.19M+23.23%10.58%+2.5 bps1
BKNG15,969$5237.74$5484.77$83.64M$87.59M+4.72%7.80%+0.4 bps1
PYPL858,231$71.57$69.38$61.42M$59.54M-3.06%5.93%-0.2 bps1
WIX319,382$182.91$120.39$58.42M$38.45M-34.18%5.53%-1.9 bps1
SPT2,304,414$23.75$13.95$54.73M$32.15M-41.26%5.37%-2.2 bps1
ASML70,571$758.36$755.21$53.52M$53.3M-0.42%4.96%-0.0 bps1
SEMR2,256,733$10.85$7.42$24.49M$16.74M-31.61%2.23%-0.7 bps1
Top 5 (by entry value)(5)$667.16M$747M+11.97%
Total(11)$1B$1.03B+3.13%

2025-02-142025-05-15

11 of 11 priced100.00% coverage
-10.60%
Holdings from Q4 2024 disclosure · accession 0001398344-25-002824 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
WIX578,741$223.70$182.91$129.46M$105.86M-18.23%12.80%-2.3 bps1
META208,247$736.67$643.88$153.41M$134.09M-12.60%12.57%-1.6 bps1
GOOG639,218$186.87$165.40$119.45M$105.73M-11.49%12.55%-1.4 bps1
AZO37,570$3458.55$3758.37$129.94M$141.2M+8.67%12.40%+1.1 bps1
PYPL1,301,183$77.97$71.57$101.45M$93.13M-8.21%11.45%-0.9 bps1
DHR394,791$206.30$190.95$81.45M$75.39M-7.44%9.34%-0.7 bps1
SMAR1,447,727$56.50$56.50$81.8M$81.8M+0.00%8.36%+0.0 bps1
SPT2,306,149$30.97$23.75$71.42M$54.77M-23.31%7.30%-1.7 bps1
HRI272,903$200.74$134.55$54.78M$36.72M-32.97%5.33%-1.8 bps1
UPWK3,045,142$16.14$17.09$49.15M$52.04M+5.89%5.13%+0.3 bps1
SEMR2,258,481$17.82$10.85$40.25M$24.5M-39.11%2.77%-1.1 bps1
Top 5 (by entry value)(5)$633.72M$580M-8.48%
Total(11)$1.01B$905.22M-10.60%

2024-11-142025-02-14

11 of 12 priced91.09% coverage
+22.21%
Holdings from Q3 2024 disclosure · accession 0001398344-24-020708 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
META232,669$577.16$736.67$134.29M$171.4M+27.64%14.36%+4.0 bps1
AZO29,458$3136.06$3458.55$92.38M$101.88M+10.28%10.00%+1.0 bps1
WIX553,894$184.01$223.70$101.92M$123.91M+21.57%9.98%+2.2 bps1
APP698,796$284.49$510.13$198.8M$356.48M+79.31%9.83%+7.8 bps1
PYPL1,162,523$85.79$77.97$99.73M$90.64M-9.12%9.78%-0.9 bps1
DHR297,492$239.38$206.30$71.21M$61.37M-13.82%8.92%-1.2 bps1
GOOG451,618$177.35$186.87$80.09M$84.39M+5.37%8.14%+0.4 bps1
HRI426,060$217.54$200.74$92.69M$85.53M-7.72%7.32%-0.6 bps1
SPT1,975,994$28.76$30.97$56.83M$61.2M+7.68%6.19%+0.5 bps1
SEMR2,113,947$13.27$17.82$28.05M$37.67M+34.29%3.58%+1.2 bps1
UPWK2,647,145$15.10$16.14$39.97M$42.72M+6.89%2.98%+0.2 bps1
SMAR8.91%0
Top 5 (by entry value)(5)$627.43M$827.95M+31.96%
Total(11)$995.97M$1.22B+22.21%

2024-08-142024-11-14

10 of 11 priced86.97% coverage
+12.51%
Holdings from Q2 2024 disclosure · accession 0001398344-24-014603 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
META239,724$526.76$577.16$126.28M$138.36M+9.57%14.40%+1.4 bps1
WIX570,859$159.05$184.01$90.8M$105.04M+15.69%10.82%+1.7 bps1
AZO30,351$3196.42$3136.06$97.01M$95.18M-1.89%10.72%-0.2 bps1
GOOG465,268$162.03$177.35$75.39M$82.52M+9.46%10.17%+1.0 bps1
DHR306,420$268.08$239.38$82.15M$73.35M-10.71%9.12%-1.0 bps1
PYPL1,197,048$66.14$85.79$79.17M$102.69M+29.71%8.28%+2.5 bps1
SPT1,725,977$31.33$28.76$54.07M$49.64M-8.20%7.34%-0.6 bps1
HRI439,118$132.48$217.54$58.17M$95.53M+64.21%6.97%+4.5 bps1
SEMR3,558,820$13.92$13.27$49.54M$47.23M-4.67%5.68%-0.3 bps1
UPWK2,725,293$9.45$15.10$25.75M$41.15M+59.79%3.49%+2.1 bps1
SMAR13.03%0
Top 5 (by entry value)(5)$475.4M$514.63M+8.25%
Total(10)$738.33M$830.69M+12.51%

2024-05-152024-08-14

9 of 10 priced88.76% coverage
+0.42%
Holdings from Q1 2024 disclosure · accession 0001398344-24-009633 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
META287,226$481.54$526.76$138.31M$151.3M+9.39%16.21%+1.5 bps1
GOOG846,297$173.88$162.03$147.15M$137.13M-6.82%14.98%-1.0 bps1
WIX755,440$137.36$159.05$103.77M$120.15M+15.79%12.07%+1.9 bps1
PYPL1,212,462$63.90$66.14$77.48M$80.19M+3.51%9.44%+0.3 bps1
DHR310,364$263.46$268.08$81.77M$83.2M+1.75%9.01%+0.2 bps1
HRI444,769$159.25$132.48$70.83M$58.92M-16.81%8.70%-1.5 bps1
AZO23,282$2930.17$3196.42$68.22M$74.42M+9.09%8.53%+0.8 bps1
SEMR3,805,121$15.69$13.92$59.7M$52.97M-11.28%5.87%-0.7 bps1
UPWK2,760,387$12.27$9.45$33.87M$26.09M-22.98%3.93%-0.9 bps1
SMAR11.24%0
Top 5 (by entry value)(5)$548.48M$571.97M+4.28%
Total(9)$781.1M$784.37M+0.42%

2024-02-142024-05-15

8 of 9 priced84.35% coverage
+7.46%
Holdings from Q4 2023 disclosure · accession 0001398344-24-002904 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
META386,133$473.28$481.54$182.75M$185.94M+1.75%17.57%+0.3 bps1
GOOG857,647$147.14$173.88$126.19M$149.13M+18.17%15.54%+2.8 bps1
WIX765,585$129.60$137.36$99.22M$105.16M+5.99%12.11%+0.7 bps1
HRI516,894$143.52$159.25$74.18M$82.32M+10.96%9.89%+1.1 bps1
PYPL1,228,720$58.87$63.90$72.33M$78.52M+8.54%9.70%+0.8 bps1
DHR314,516$247.99$263.46$78M$82.86M+6.24%9.35%+0.6 bps1
UPWK2,797,446$15.24$12.27$42.63M$34.32M-19.49%5.35%-1.0 bps1
SEMR2,760,039$12.10$15.69$33.4M$43.31M+29.67%4.85%+1.4 bps1
SMAR15.65%0
Top 5 (by entry value)(5)$560.34M$605.4M+8.04%
Total(8)$708.71M$761.55M+7.46%

2023-11-142024-02-14

9 of 10 priced85.77% coverage
+22.34%
Holdings from Q3 2023 disclosure · accession 0001398344-23-020605 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
META469,184$336.31$473.28$157.79M$222.06M+40.73%18.39%+7.5 bps1
GOOG907,610$135.43$147.14$122.92M$133.55M+8.65%15.63%+1.4 bps1
WIX1,229,627$92.56$129.60$113.81M$159.36M+40.02%14.74%+5.9 bps1
PYPL1,300,303$56.68$58.87$73.7M$76.55M+3.86%9.93%+0.4 bps1
HRI433,139$126.45$143.52$54.77M$62.16M+13.50%6.73%+0.9 bps1
DIS627,314$91.07$111.56$57.13M$69.98M+22.50%6.64%+1.5 bps1
UPWK4,474,286$14.42$15.24$64.52M$68.19M+5.69%6.64%+0.4 bps1
DG272,822$121.33$132.00$33.1M$36.01M+8.79%3.77%+0.3 bps1
SEMR2,986,788$9.54$12.10$28.49M$36.14M+26.83%3.31%+0.9 bps1
SMAR14.23%0
Top 5 (by entry value)(5)$532.74M$659.7M+23.83%
Total(9)$706.24M$864M+22.34%

2023-08-142023-11-14

9 of 10 priced83.38% coverage
+4.23%
Holdings from Q2 2023 disclosure · accession 0001398344-23-014736 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
META626,299$306.19$336.31$191.77M$210.63M+9.84%23.80%+2.3 bps1
WIX1,393,679$89.28$92.56$124.43M$129M+3.67%14.44%+0.5 bps1
GOOG738,119$131.83$135.43$97.31M$99.96M+2.73%11.82%+0.3 bps1
DIS648,816$88.81$91.07$57.62M$59.09M+2.54%7.67%+0.2 bps1
ROKU781,185$82.26$88.10$64.26M$68.82M+7.10%6.62%+0.5 bps1
UPWK4,691,358$13.85$14.42$64.98M$67.65M+4.12%5.80%+0.2 bps1
PYPL648,363$63.27$56.68$41.02M$36.75M-10.42%5.73%-0.6 bps1
SEMR3,021,897$9.34$9.54$28.22M$28.83M+2.14%3.83%+0.1 bps1
HRI202,804$134.63$126.45$27.3M$25.64M-6.08%3.67%-0.2 bps1
SMAR16.62%0
Top 5 (by entry value)(5)$542.74M$576.06M+6.14%
Total(9)$696.91M$726.38M+4.23%

2023-07-202023-08-14

8 of 9 priced80.29% coverage
+4.29%
Holdings from Q1 2023 disclosure · accession 0001398344-23-013281 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
META956,098$302.52$306.19$289.24M$292.75M+1.21%22.98%+0.3 bps1
WIX1,545,370$84.52$89.28$130.61M$137.97M+5.63%17.49%+1.0 bps1
GOOG818,148$119.53$131.83$97.79M$107.86M+10.29%9.65%+1.0 bps1
ROKU1,162,463$73.59$82.26$85.55M$95.62M+11.78%8.68%+1.0 bps1
DIS719,424$86.21$88.81$62.02M$63.89M+3.02%8.17%+0.2 bps1
PYPL718,922$73.02$63.27$52.5M$45.49M-13.35%6.19%-0.8 bps1
SEMR3,350,938$9.88$9.34$33.11M$31.3M-5.47%3.82%-0.2 bps1
UPWK2,591,208$10.27$13.85$26.61M$35.89M+34.86%3.33%+1.2 bps1
SMAR19.71%0
Top 5 (by entry value)(5)$665.21M$698.09M+4.94%
Total(8)$777.43M$810.76M+4.29%

2023-02-142023-07-20

8 of 9 priced77.99% coverage
+20.30%
Holdings from Q4 2022 disclosure · accession 0001398344-23-003149 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
WIX1,603,578$86.93$84.52$139.4M$135.53M-2.77%17.91%-0.5 bps1
META992,042$179.48$302.52$178.05M$300.11M+68.55%17.36%+11.9 bps1
ROKU1,677,711$56.64$73.59$95.03M$123.46M+29.93%9.93%+3.0 bps1
DIS746,469$107.66$86.21$80.36M$64.35M-19.92%9.43%-1.9 bps1
PYPL745,950$77.26$73.02$57.63M$54.47M-5.49%7.72%-0.4 bps1
GOOG570,922$94.95$119.53$54.21M$68.24M+25.89%7.36%+1.9 bps1
SEMR3,548,943$9.09$9.88$32.26M$35.06M+8.69%4.20%+0.4 bps1
UPWK2,688,611$13.17$10.27$35.41M$27.61M-22.02%4.08%-0.9 bps1
SMAR22.01%0
Top 5 (by entry value)(5)$550.47M$677.93M+23.15%
Total(8)$672.35M$808.85M+20.30%