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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
+1.75%
1 Year Est. Return
+25.77%
3 Year Est. Return
+121.55%
5 Year Est. Return
+26.99%
10 Year Est. Return
–
AUM
$755M
AUM Growth
-$127M
Cap. Flow
-$115M
Cap. Flow %
-15.18%
Top 10 Hldgs %
100%
Holding
10
New
1
Increased
1
Reduced
8
Closed
–

Top Buys

Rank Stock Value
1
HRI icon
Herc Holdings
HRI
+$22.5M
2
UPWK icon
Upwork
UPWK
+$19M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$81.4M
2
ROKU icon
Roku
ROKU
+$23.2M
3
SMAR
Smartsheet Inc.
SMAR
+$15.4M
4
WIX icon
WIX.com
WIX
+$12.5M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$9.26M

Sector Composition

Rank Sector Weight
1 Communication Services 55.71%
2 Technology 34.89%
3 Financials 5.73%
4 Industrials 3.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
META icon
1
Meta Platforms (Facebook)
META
$1.4T
$180M 23.8%
626,299
-329,799
-34% -$81.4M
SMAR
2
DELISTED
Smartsheet Inc.
SMAR
$126M 16.62%
3,280,603
-356,995
-10% -$15.4M
WIX icon
3
WIX.com
WIX
$3.43B
$109M 14.44%
1,393,679
-151,691
-10% -$12.5M
GOOG icon
4
Alphabet (Google) Class C
GOOG
$4.18T
$89.3M 11.82%
738,119
-80,029
-10% -$9.26M
DIS icon
5
Walt Disney
DIS
$186B
$57.9M 7.67%
648,816
-70,608
-10% -$6.69M
ROKU icon
6
Roku
ROKU
$23.4B
$50M 6.62%
781,185
-381,278
-33% -$23.2M
UPWK icon
7
Upwork
UPWK
$1.08B
$43.8M 5.8%
4,691,358
+2,100,150
+81% +$19M
PYPL icon
8
PayPal
PYPL
$52.7B
$43.3M 5.73%
648,363
-70,559
-10% -$4.81M
SEMR
9
DELISTED
Semrush
SEMR
$28.9M 3.83%
3,021,897
-329,041
-10% -$2.91M
HRI icon
10
Herc Holdings
HRI
$5.41B
$27.8M 3.67%
+202,804
New +$22.5M

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Pat Dorsey's Q2 2023 Portfolio in Review

As of Q2 2023, Pat Dorsey held 10 positions worth $755M, down 14% from $882M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Pat Dorsey withdrew a net $115M in Q2 2023, reducing 8 holdings. Its largest reduction was Meta Platforms (Facebook), cutting an estimated $81.4M.

By sector, the portfolio is most concentrated in Communication Services at 56% of assets, up from 53% a quarter earlier, followed by Technology and Financials.

Against the trend, Pat Dorsey opened a new position in Herc Holdings worth $27.8M.

  • Pat Dorsey's largest Q2 2023 buy was Herc Holdings: 202,804 shares worth $27.8M.
  • Pat Dorsey added most to Upwork in Q2 2023, an estimated $19M increase.
  • Pat Dorsey's biggest Q2 2023 reduction was Meta Platforms (Facebook), cutting an estimated $81.4M.
  • Pat Dorsey's ten largest holdings make up 100% of its $755M portfolio in Q2 2023.
  • Pat Dorsey opened 1 new position and closed 0 in Q2 2023.
  • Pat Dorsey's portfolio value fell 14% quarter-over-quarter to $755M.

Based on Dorsey Asset Management's 13F filing for Q2 2023, filed 14 Aug 2023.