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 |
DESP
Despegar.com
DESP
|
+$36.8M |
| 2 |
Cimpress
CMPR
|
+$17.1M |
| 3 |
eBay
EBAY
|
+$15.3M |
| 4 |
WIX.com
WIX
|
+$3.39M |
| 5 |
PayPal
PYPL
|
+$2.42M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Trade Desk
TTD
|
+$29.8M |
| 2 |
Dollar General
DG
|
+$26.2M |
| 3 |
Meta Platforms (Facebook)
META
|
+$24.4M |
| 4 |
Roper Technologies
ROP
|
+$15.8M |
| 5 |
ANSS
Ansys
ANSS
|
+$11M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 38.83% |
| 2 | Technology | 23.21% |
| 3 | Consumer Discretionary | 16.69% |
| 4 | Financials | 13.14% |
| 5 | Industrials | 8.13% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Meta Platforms (Facebook)
META
$1.4T
| $81.3M | 20.43% |
487,971
-153,703
| -24% | -$24.4M |
|
|
2
WIX.com
WIX
$3.43B
| $76M | 19.09% |
628,814
+31,219
| +5% | +$3.39M |
|
|
3
PayPal
PYPL
$52.7B
| $52.3M | 13.14% |
503,552
+25,608
| +5% | +$2.42M |
|
4
Alphabet (Google) Class C
GOOG
$4.18T
| $42.5M | 10.67% |
723,880
+36,920
| +5% | +$2.07M |
|
|
DESP
5
DELISTED
Despegar.com
DESP
| $34.6M | 8.7% |
+2,323,766
| New | +$36.8M |
|
|
6
Cimpress
CMPR
$2.13B
| $32.4M | 8.13% |
404,051
+186,678
| +86% | +$17.1M |
|
|
7
eBay
EBAY
$46.3B
| $31.8M | 7.99% |
856,313
+442,342
| +107% | +$15.3M |
|
|
8
Trade Desk
TTD
$6.19B
| $30.8M | 7.73% |
1,554,650
-1,821,810
| -54% | -$29.8M |
|
|
ANSS
9
DELISTED
Ansys
ANSS
| $16.4M | 4.13% |
89,927
-65,079
| -42% | -$11M |
|
|
10
Dollar General
DG
$27.2B
| – | – |
-242,459
| Closed | -$26.2M |
|
|
11
Roper Technologies
ROP
$40.7B
| – | – |
-59,212
| Closed | -$15.8M |
|
12
Workiva
WK
$4.07B
| – | – |
-237,389
| Closed | -$8.52M |
|
Similar funds
Pat Dorsey's Q1 2019 Portfolio in Review
As of Q1 2019, Pat Dorsey held 12 positions worth $398M, up 11% from $360M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pat Dorsey withdrew a net $38.8M in Q1 2019, closing 3 positions and reducing 3 holdings. Its most notable exit was Dollar General, an estimated $26.2M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 39% of assets, down from 44% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Pat Dorsey opened a new position in Despegar.com worth $34.6M.
- Pat Dorsey's largest Q1 2019 buy was Despegar.com: 2,323,766 shares worth $34.6M.
- Pat Dorsey added most to Cimpress in Q1 2019, an estimated $17.1M increase.
- Pat Dorsey's biggest Q1 2019 reduction was Trade Desk, cutting an estimated $29.8M.
- Pat Dorsey fully exited Dollar General in Q1 2019, selling an estimated $26.2M.
- Pat Dorsey's ten largest holdings make up 100% of its $398M portfolio in Q1 2019.
- Pat Dorsey opened 1 new position and closed 3 in Q1 2019.
- Pat Dorsey's portfolio value rose 11% quarter-over-quarter to $398M.
Based on Dorsey Asset Management's 13F filing for Q1 2019, filed 15 May 2019.