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 |
Alphabet (Google) Class C
GOOG
|
+$33.1M |
| 2 |
AutoZone
AZO
|
+$25.7M |
| 3 |
Danaher
DHR
|
+$23.9M |
| 4 |
PayPal
PYPL
|
+$11.7M |
| 5 |
Sprout Social
SPT
|
+$9.92M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Applovin
APP
|
+$91.2M |
| 2 |
Herc Holdings
HRI
|
+$30.9M |
| 3 |
Meta Platforms (Facebook)
META
|
+$14.3M |
| 4 |
SMAR
Smartsheet Inc.
SMAR
|
+$2.55M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 31.23% |
| 2 | Communication Services | 30.25% |
| 3 | Consumer Discretionary | 12.4% |
| 4 | Financials | 11.45% |
| 5 | Healthcare | 9.34% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
WIX.com
WIX
$3.43B
| $124M | 12.8% |
578,741
+24,847
| +4% | +$4.75M |
|
|
2
Meta Platforms (Facebook)
META
$1.4T
| $122M | 12.57% |
208,247
-24,422
| -10% | -$14.3M |
|
|
3
Alphabet (Google) Class C
GOOG
$4.18T
| $122M | 12.55% |
639,218
+187,600
| +42% | +$33.1M |
|
|
4
AutoZone
AZO
$48.3B
| $120M | 12.4% |
37,570
+8,112
| +28% | +$25.7M |
|
|
5
PayPal
PYPL
$52.7B
| $111M | 11.45% |
1,301,183
+138,660
| +12% | +$11.7M |
|
|
6
Danaher
DHR
$154B
| $90.6M | 9.34% |
394,791
+97,299
| +33% | +$23.9M |
|
|
SMAR
7
DELISTED
Smartsheet Inc.
SMAR
| $81.1M | 8.36% |
1,447,727
-45,559
| -3% | -$2.55M |
|
|
8
Sprout Social
SPT
$607M
| $70.8M | 7.3% |
2,306,149
+330,155
| +17% | +$9.92M |
|
|
9
Herc Holdings
HRI
$5.41B
| $51.7M | 5.33% |
272,903
-153,157
| -36% | -$30.9M |
|
10
Upwork
UPWK
$1.08B
| $49.8M | 5.13% |
3,045,142
+397,997
| +15% | +$5.73M |
|
|
SEMR
11
DELISTED
Semrush
SEMR
| $26.8M | 2.77% |
2,258,481
+144,534
| +7% | +$1.94M |
|
|
12
Applovin
APP
$102B
| – | – |
-698,796
| Closed | -$91.2M |
|
Similar funds
Pat Dorsey's Q4 2024 Portfolio in Review
As of Q4 2024, Pat Dorsey held 12 positions worth $970M, up 4.6% from $928M the previous quarter. Its ten largest holdings account for 97% of the portfolio.
Pat Dorsey's Q4 2024 filing shows 8 increased, 3 reduced and 1 closed positions. The largest sale was Applovin, an estimated $91.2M.
By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 29% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Pat Dorsey added most to Alphabet (Google) Class C in Q4 2024, an estimated $33.1M increase.
- Pat Dorsey's biggest Q4 2024 reduction was Herc Holdings, cutting an estimated $30.9M.
- Pat Dorsey fully exited Applovin in Q4 2024, selling an estimated $91.2M.
- Pat Dorsey's ten largest holdings make up 97% of its $970M portfolio in Q4 2024.
- Pat Dorsey opened 0 new positions and closed 1 in Q4 2024.
- Pat Dorsey's portfolio value rose 4.6% quarter-over-quarter to $970M.
Based on Dorsey Asset Management's 13F filing for Q4 2024, filed 14 Feb 2025.