We are live on ! Find out more
PD

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
+5.57%
1 Year Est. Return
+25.77%
3 Year Est. Return
+121.55%
5 Year Est. Return
+26.99%
10 Year Est. Return
–
AUM
$1.15B
AUM Growth
+$37.8M
Cap. Flow
-$17.7M
Cap. Flow %
-1.53%
Top 10 Hldgs %
100%
Holding
10
New
1
Increased
1
Reduced
8
Closed
–

Top Buys

Rank Stock Value
1
LYV icon
Live Nation Entertainment
LYV
+$86.7M
2
ASML icon
ASML
ASML
+$19.9M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$60.8M
2
META icon
Meta Platforms (Facebook)
META
+$21.2M
3
AZO icon
AutoZone
AZO
+$18M
4
DHR icon
Danaher
DHR
+$7.33M
5
AER icon
AerCap
AER
+$6.48M

Sector Composition

Rank Sector Weight
1 Healthcare 29.33%
2 Communication Services 22.59%
3 Technology 17.89%
4 Industrials 15.18%
5 Consumer Discretionary 15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ASML icon
1
ASML
ASML
$677B
$206M 17.89%
192,343
+19,117
+11% +$19.9M
DHR icon
2
Danaher
DHR
$154B
$189M 16.47%
827,520
-33,330
-4% -$7.33M
AER icon
3
AerCap
AER
$23B
$175M 15.18%
1,215,059
-48,939
-4% -$6.48M
META icon
4
Meta Platforms (Facebook)
META
$1.4T
$106M 9.21%
160,450
-31,774
-17% -$21.2M
BKNG icon
5
Booking.com
BKNG
$158B
$87.4M 7.6%
407,925
-16,450
-4% -$3.39M
RPRX icon
6
Royalty Pharma
RPRX
$27.3B
$87.3M 7.59%
2,259,469
-90,980
-4% -$3.47M
LYV icon
7
Live Nation Entertainment
LYV
$42.4B
$85.9M 7.47%
+602,973
New +$86.7M
AZO icon
8
AutoZone
AZO
$48.3B
$85.2M 7.41%
25,121
-4,757
-16% -$18M
GOOG icon
9
Alphabet (Google) Class C
GOOG
$4.18T
$68.1M 5.92%
216,906
-212,412
-49% -$60.8M
ENOV icon
10
Enovis
ENOV
$1.5B
$60.7M 5.28%
2,279,200
-120,122
-5% -$3.55M

Similar funds

YIA
YHB Investment Advisors West Hartford, Connecticut $1.56B AUM 27.39% 1-Year Est. Return
EFG
Everhart Financial Group Dublin, Ohio $1.56B AUM 34.29% 1-Year Est. Return
MSFS
Main Street Financial Solutions Newtown, Pennsylvania $1.56B AUM 24.84% 1-Year Est. Return
SCA
Stonebridge Capital Advisors St Paul, Minnesota $1.56B AUM 29.32% 1-Year Est. Return
PEGL
P/E Global LLC Boston, Massachusetts $1.56B AUM 17.86% 1-Year Est. Return
HRES
Heitman Real Estate Securities Chicago, Illinois $1.56B AUM 21.81% 1-Year Est. Return
HAM
HoldCo Asset Management Fort Lauderdale, Florida $1.56B AUM 45.42% 1-Year Est. Return
PTC
Philadelphia Trust Company Philadelphia, Pennsylvania $1.56B AUM 44.46% 1-Year Est. Return

Pat Dorsey's Q4 2025 Portfolio in Review

As of Q4 2025, Pat Dorsey held 10 positions worth $1.15B, up 3.4% from $1.11B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Pat Dorsey's Q4 2025 filing shows 1 new, 1 increased and 8 reduced positions. Its largest new stake was Live Nation Entertainment: 602,973 shares worth $85.9M. The largest sale was Alphabet (Google) Class C, an estimated $60.8M.

By sector, the portfolio is most concentrated in Healthcare at 29% of assets, down from 29% a quarter earlier, followed by Communication Services and Technology.

  • Pat Dorsey's largest Q4 2025 buy was Live Nation Entertainment: 602,973 shares worth $85.9M.
  • Pat Dorsey added most to ASML in Q4 2025, an estimated $19.9M increase.
  • Pat Dorsey's biggest Q4 2025 reduction was Alphabet (Google) Class C, cutting an estimated $60.8M.
  • Pat Dorsey's ten largest holdings make up 100% of its $1.15B portfolio in Q4 2025.
  • Pat Dorsey opened 1 new position and closed 0 in Q4 2025.
  • Pat Dorsey's portfolio value rose 3.4% quarter-over-quarter to $1.15B.

Based on Dorsey Asset Management's 13F filing for Q4 2025, filed 17 Feb 2026.