Pat Dorsey Dorsey Asset Management
Pat Dorsey is the founder of Dorsey Asset Management and formerly director of equity research at Morningstar, where he helped popularize moat-based analysis. His firm invests in businesses with durable competitive advantages and clear reinvestment opportunities. Dorsey’s frameworks for economic moats and capital allocation are widely used by individual and professional investors.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
eBay
EBAY
|
+$37.5M |
| 2 |
SiteOne Landscape Supply
SITE
|
+$19.2M |
| 3 |
Meta Platforms (Facebook)
META
|
+$13M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$5.92M |
| 5 |
Dollar General
DG
|
+$1.97M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Chegg
CHGG
|
+$29.4M |
| 2 |
Yelp
YELP
|
+$18.3M |
| 3 |
Cimpress
CMPR
|
+$12.6M |
| 4 |
Workiva
WK
|
+$4.36M |
| 5 |
Roper Technologies
ROP
|
+$2.16M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 34.21% |
| 2 | Technology | 23.08% |
| 3 | Industrials | 20.5% |
| 4 | Consumer Discretionary | 12.33% |
| 5 | Consumer Staples | 9.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Meta Platforms (Facebook)
META
$1.4T
| $70.7M | 23.9% |
442,182
+72,165
| +20% | +$13M |
|
|
2
eBay
EBAY
$46.3B
| $36.4M | 12.33% |
+905,600
| New | +$37.5M |
|
|
3
SiteOne Landscape Supply
SITE
$4.19B
| $32M | 10.82% |
415,269
+260,236
| +168% | +$19.2M |
|
|
4
Alphabet (Google) Class C
GOOG
$4.18T
| $30.5M | 10.31% |
590,620
+107,320
| +22% | +$5.92M |
|
|
5
Dollar General
DG
$27.2B
| $29.2M | 9.88% |
312,275
+20,550
| +7% | +$1.97M |
|
|
6
Cimpress
CMPR
$2.13B
| $28.6M | 9.68% |
184,938
-84,707
| -31% | -$12.6M |
|
|
7
Workiva
WK
$4.07B
| $23.8M | 8.05% |
1,003,789
-189,750
| -16% | -$4.36M |
|
|
ANSS
8
DELISTED
Ansys
ANSS
| $23.6M | 7.99% |
150,672
+9,816
| +7% | +$1.57M |
|
|
9
Roper Technologies
ROP
$40.7B
| $20.8M | 7.05% |
74,214
-7,833
| -10% | -$2.16M |
|
|
10
Chegg
CHGG
$90.8M
| – | – |
-1,800,400
| Closed | -$29.4M |
|
|
11
Yelp
YELP
$1.27B
| – | – |
-436,934
| Closed | -$18.3M |
|
Similar funds
Pat Dorsey's Q1 2018 Portfolio in Review
As of Q1 2018, Pat Dorsey held 11 positions worth $296M, up 6.6% from $277M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pat Dorsey deployed $12.2M of net new capital in Q1 2018, opening 1 new position and adding to 5 existing holdings. Its largest new stake was eBay: 905,600 shares worth $36.4M.
By sector, the portfolio is most concentrated in Communication Services at 34% of assets, down from 39% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was Cimpress, an estimated $12.6M trimmed.
- Pat Dorsey's largest Q1 2018 buy was eBay: 905,600 shares worth $36.4M.
- Pat Dorsey added most to SiteOne Landscape Supply in Q1 2018, an estimated $19.2M increase.
- Pat Dorsey's biggest Q1 2018 reduction was Cimpress, cutting an estimated $12.6M.
- Pat Dorsey fully exited Chegg in Q1 2018, selling an estimated $29.4M.
- Pat Dorsey's ten largest holdings make up 100% of its $296M portfolio in Q1 2018.
- Pat Dorsey opened 1 new position and closed 2 in Q1 2018.
- Pat Dorsey's portfolio value rose 6.6% quarter-over-quarter to $296M.
Based on Dorsey Asset Management's 13F filing for Q1 2018, filed 15 May 2018.