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DCM
Dorsal Capital Management Portfolio holdings
AUM
$2.57B
1-Year Est. Return
3.13%
This Fund
S&P 500
This Quarter
Est. Return
+19.63%
1 Year Est. Return
+3.13%
3 Year Est. Return
+78.29%
5 Year Est. Return
+64.48%
10 Year Est. Return
+752.88%
AUM
$1.3B
AUM Growth
-$322M
(-20%)
Cap. Flow
-$535M
Cap. Flow
% of AUM
-41.25%
Top 10 Holdings %
Top 10 Hldgs %
78.57%
Holding
26
New
3
Increased
5
Reduced
10
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
eHealth
EHTH
|
+$40.5M |
| 2 |
Darden Restaurants
DRI
|
+$37.4M |
| 3 |
HealthEquity
HQY
|
+$24.7M |
| 4 |
Pegasystems
PEGA
|
+$23M |
| 5 |
Euronet Worldwide
EEFT
|
+$15M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Russell 2000 ETF
IWM
|
+$107M |
| 2 |
Dollar Tree
DLTR
|
+$69.5M |
| 3 |
ATVI
Activision Blizzard
ATVI
|
+$68.3M |
| 4 |
Snap
SNAP
|
+$62.2M |
| 5 |
Zillow
Z
|
+$52.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 47.34% |
| 2 | Consumer Discretionary | 27.35% |
| 3 | Communication Services | 18.43% |
| 4 | Healthcare | 3.83% |
| 5 | Financials | 3.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Zillow
Z
$7.32B
| $138M | 10.62% |
1,355,000
-675,000
| -33% | -$52.7M |
|
2
Microsoft
MSFT
$2.89T
| $127M | 9.82% |
605,000
-179,000
| -23% | -$37.6M |
|
|
3
Pegasystems
PEGA
$4.7B
| $121M | 9.34% |
2,000,000
+400,000
| +25% | +$23M |
|
4
Salesforce
CRM
$142B
| $118M | 9.11% |
470,000
-216,000
| -31% | -$47.3M |
|
|
5
Snap
SNAP
$7.6B
| $101M | 7.81% |
3,875,000
-2,675,000
| -41% | -$62.2M |
|
6
Burlington
BURL
$22.5B
| $95.8M | 7.39% |
465,000
-50,000
| -10% | -$9.74M |
|
|
7
Darden Restaurants
DRI
$23.4B
| $95.7M | 7.38% |
950,000
+450,000
| +90% | +$37.4M |
|
8
Amazon
AMZN
$2.49T
| $80.3M | 6.2% |
510,000
-226,000
| -31% | -$35.6M |
|
|
9
Euronet Worldwide
EEFT
$3.01B
| $73.2M | 5.65% |
803,491
+153,491
| +24% | +$15M |
|
10
Twilio
TWLO
$29.5B
| $68M | 5.24% |
275,000
-125,000
| -31% | -$30.8M |
|
11
Lowe's Companies
LOW
$119B
| $49.8M | 3.84% |
300,000
-75,000
| -20% | -$11.5M |
|
|
12
HealthEquity
HQY
$8.28B
| $48.8M | 3.77% |
950,000
+450,000
| +90% | +$24.7M |
|
13
CrowdStrike
CRWD
$183B
| $48.1M | 3.71% |
1,400,000
-1,200,000
| -46% | -$35M |
|
|
14
eHealth
EHTH
$43.2M
| $39.5M | 3.05% |
+500,000
| New | +$40.5M |
|
15
Papa John's
PZZA
$997M
| $32.9M | 2.54% |
400,000
-100,000
| -20% | -$9.18M |
|
|
TLND
16
DELISTED
Talend S.A. American Depositary Shares
TLND
| $28.1M | 2.17% |
720,000
+70,000
| +11% | +$2.71M |
|
|
PRSP
17
DELISTED
Perspecta Inc. Common Stock
PRSP
| $17.5M | 1.35% |
900,000
| – | – |
|
18
Dynatrace
DT
$12.7B
| $12.3M | 0.95% |
+300,000
| New | +$12.3M |
|
19
GoodRx Holdings
GDRX
$1.03B
| $834K | 0.06% |
+15,000
| New | +$794K |
|
|
20
Dollar Tree
DLTR
$24.1B
| – | – |
-750,000
| Closed | -$69.5M |
|
|
21
iShares Russell 2000 ETF
IWM
$80.3B
| – | – |
-750,000
| Closed | -$107M |
|
22
CarMax
KMX
$8.29B
| – | – |
-300,000
| Closed | -$26.9M |
|
23
Urban Outfitters
URBN
$6.22B
| – | – |
-500,000
| Closed | -$7.61M |
|
24
PUT
Zoom
ZM
$26.7B
| – | – |
-150,000
| Closed | -$38M |
|
|
COUP
25
PUT
DELISTED
Coupa Software Incorporated
COUP
| – | – |
-150,000
| Closed | -$41.6M |
|
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Dorsal Capital Management's Q3 2020 Portfolio in Review
As of Q3 2020, Dorsal Capital Management held 26 positions worth $1.3B, down 20% from $1.62B the previous quarter. Its ten largest holdings account for 79% of the portfolio.
Dorsal Capital Management withdrew a net $535M in Q3 2020, closing 7 positions and reducing 10 holdings. Its most notable exit was iShares Russell 2000 ETF, an estimated $107M position sold in full.
By sector, the portfolio is most concentrated in Technology at 47% of assets, up from 43% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Dorsal Capital Management opened a new position in eHealth worth $39.5M.
- Dorsal Capital Management's largest Q3 2020 buy was eHealth: 500,000 shares worth $39.5M.
- Dorsal Capital Management added most to Darden Restaurants in Q3 2020, an estimated $37.4M increase.
- Dorsal Capital Management's biggest Q3 2020 reduction was Snap, cutting an estimated $62.2M.
- Dorsal Capital Management fully exited iShares Russell 2000 ETF in Q3 2020, selling an estimated $107M.
- Dorsal Capital Management's ten largest holdings make up 79% of its $1.3B portfolio in Q3 2020.
- Dorsal Capital Management opened 3 new positions and closed 7 in Q3 2020.
- Dorsal Capital Management's portfolio value fell 20% quarter-over-quarter to $1.3B.
Based on Dorsal Capital Management's 13F filing for Q3 2020, filed 16 Nov 2020.