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Pat Dorsey Dorsey Asset Management

AUM $1.56B
1-Year Est. Return 25.77%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+9.22%
1 Year Est. Return
+25.77%
3 Year Est. Return
+121.55%
5 Year Est. Return
+26.99%
10 Year Est. Return
–
AUM
$956M
AUM Growth
+$192M
Cap. Flow
+$120M
Cap. Flow %
12.59%
Top 10 Hldgs %
100%
Holding
9
New
–
Increased
5
Reduced
3
Closed
1

Top Buys

Rank Stock Value
1
SMAR
Smartsheet Inc.
SMAR
+$100M
2
PYPL icon
PayPal
PYPL
+$52.8M
3
META icon
Meta Platforms (Facebook)
META
+$36.4M
4
EBAY icon
eBay
EBAY
+$22.3M
5
DESP
Despegar.com
DESP
+$4.92M

Top Sells

Rank Stock Value
1
ROKU icon
Roku
ROKU
+$42.7M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$29.8M
3
WIX icon
WIX.com
WIX
+$21.3M
4
UPWK icon
Upwork
UPWK
+$2.62M

Sector Composition

Rank Sector Weight
1 Communication Services 38.54%
2 Technology 30.63%
3 Consumer Discretionary 19.01%
4 Financials 11.82%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
META icon
1
Meta Platforms (Facebook)
META
$1.4T
$220M 22.99%
746,378
+135,248
+22% +$36.4M
SMAR
2
DELISTED
Smartsheet Inc.
SMAR
$174M 18.19%
2,720,798
+1,433,608
+111% +$100M
WIX icon
3
WIX.com
WIX
$3.43B
$119M 12.44%
426,002
-74,444
-15% -$21.3M
EBAY icon
4
eBay
EBAY
$46.3B
$119M 12.4%
1,935,576
+384,269
+25% +$22.3M
PYPL icon
5
PayPal
PYPL
$52.7B
$113M 11.82%
465,266
+209,025
+82% +$52.8M
UPWK icon
6
Upwork
UPWK
$1.08B
$81.9M 8.57%
1,829,472
-56,674
-3% -$2.62M
GOOG icon
7
Alphabet (Google) Class C
GOOG
$4.18T
$66.8M 6.98%
645,420
-300,440
-32% -$29.8M
DESP
8
DELISTED
Despegar.com
DESP
$63.2M 6.61%
4,639,434
+384,221
+9% +$4.92M
ROKU icon
9
Roku
ROKU
$23.4B
– –
-128,601
Closed -$42.7M

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Pat Dorsey's Q1 2021 Portfolio in Review

As of Q1 2021, Pat Dorsey held 9 positions worth $956M, up 25% from $764M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Pat Dorsey deployed $120M of net new capital in Q1 2021, adding to 5 existing holdings.

By sector, the portfolio is most concentrated in Communication Services at 39% of assets, down from 47% a quarter earlier, followed by Technology and Consumer Discretionary.

On the sell side, the largest reduction was Alphabet (Google) Class C, an estimated $29.8M trimmed.

  • Pat Dorsey added most to Smartsheet Inc. in Q1 2021, an estimated $100M increase.
  • Pat Dorsey's biggest Q1 2021 reduction was Alphabet (Google) Class C, cutting an estimated $29.8M.
  • Pat Dorsey fully exited Roku in Q1 2021, selling an estimated $42.7M.
  • Pat Dorsey's ten largest holdings make up 100% of its $956M portfolio in Q1 2021.
  • Pat Dorsey opened 0 new positions and closed 1 in Q1 2021.
  • Pat Dorsey's portfolio value rose 25% quarter-over-quarter to $956M.

Based on Dorsey Asset Management's 13F filing for Q1 2021, filed 14 May 2021.