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 |
WIX.com
WIX
|
+$111M |
| 2 |
POSH
Poshmark, Inc. Class A Common Stock
POSH
|
+$69.9M |
| 3 |
SMAR
Smartsheet Inc.
SMAR
|
+$2.2M |
| 4 |
SEMR
Semrush
SEMR
|
+$1.47M |
| 5 |
Meta Platforms (Facebook)
META
|
+$828K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
eBay
EBAY
|
+$32.9M |
| 2 |
Walt Disney
DIS
|
+$14.9M |
| 3 |
Upwork
UPWK
|
+$7.79M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 43.19% |
| 2 | Communication Services | 36.03% |
| 3 | Consumer Discretionary | 11.6% |
| 4 | Financials | 9.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
WIX.com
WIX
$3.43B
| $234M | 19.99% |
1,485,198
+637,351
| +75% | +$111M |
|
|
SMAR
2
DELISTED
Smartsheet Inc.
SMAR
| $217M | 18.54% |
2,805,457
+31,563
| +1% | +$2.2M |
|
|
3
Meta Platforms (Facebook)
META
$1.4T
| $194M | 16.59% |
577,985
+2,494
| +0.4% | +$828K |
|
4
PayPal
PYPL
$52.7B
| $108M | 9.19% |
571,209
+2,464
| +0.4% | +$533K |
|
|
5
Walt Disney
DIS
$186B
| $106M | 9.06% |
685,261
-92,492
| -12% | -$14.9M |
|
|
6
eBay
EBAY
$46.3B
| $79.6M | 6.79% |
1,197,424
-461,008
| -28% | -$32.9M |
|
7
Alphabet (Google) Class C
GOOG
$4.18T
| $72.4M | 6.18% |
500,360
+2,180
| +0.4% | +$315K |
|
|
POSH
8
DELISTED
Poshmark, Inc. Class A Common Stock
POSH
| $56.3M | 4.8% |
+3,306,561
| New | +$69.9M |
|
|
SEMR
9
DELISTED
Semrush
SEMR
| $54.6M | 4.66% |
2,616,838
+66,113
| +3% | +$1.47M |
|
|
10
Upwork
UPWK
$1.08B
| $49.3M | 4.21% |
1,443,618
-176,348
| -11% | -$7.79M |
|
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Pat Dorsey's Q4 2021 Portfolio in Review
As of Q4 2021, Pat Dorsey held 10 positions worth $1.17B, up 2.3% from $1.15B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pat Dorsey deployed $130M of net new capital in Q4 2021, opening 1 new position and adding to 6 existing holdings. Its largest new stake was Poshmark, Inc. Class A Common Stock: 3,306,561 shares worth $56.3M.
By sector, the portfolio is most concentrated in Technology at 43% of assets, up from 36% a quarter earlier, followed by Communication Services and Consumer Discretionary.
On the sell side, the largest reduction was eBay, an estimated $32.9M trimmed.
- Pat Dorsey's largest Q4 2021 buy was Poshmark, Inc. Class A Common Stock: 3,306,561 shares worth $56.3M.
- Pat Dorsey added most to WIX.com in Q4 2021, an estimated $111M increase.
- Pat Dorsey's biggest Q4 2021 reduction was eBay, cutting an estimated $32.9M.
- Pat Dorsey's ten largest holdings make up 100% of its $1.17B portfolio in Q4 2021.
- Pat Dorsey opened 1 new position and closed 0 in Q4 2021.
- Pat Dorsey's portfolio value rose 2.3% quarter-over-quarter to $1.17B.
Based on Dorsey Asset Management's 13F filing for Q4 2021, filed 14 Feb 2022.