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 |
SUNB
Sunbelt Rentals Holdings
SUNB
|
+$155M |
| 2 |
Applovin
APP
|
+$153M |
| 3 |
S&P Global
SPGI
|
+$103M |
| 4 |
Uber
UBER
|
+$83.9M |
| 5 |
Meta Platforms (Facebook)
META
|
+$790K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AutoZone
AZO
|
+$85.2M |
| 2 |
ASML
ASML
|
+$71.3M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$68.1M |
| 4 |
Enovis
ENOV
|
+$60.7M |
| 5 |
Danaher
DHR
|
+$52.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 24.79% |
| 2 | Industrials | 23.7% |
| 3 | Technology | 21% |
| 4 | Healthcare | 17.46% |
| 5 | Financials | 7.54% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
ASML
ASML
$677B
| $185M | 14.76% |
140,295
-52,048
| -27% | -$71.3M |
|
2
AerCap
AER
$23B
| $154M | 12.27% |
1,123,489
-91,570
| -8% | -$13.1M |
|
|
SUNB
3
Sunbelt Rentals Holdings
SUNB
$31.5B
| $144M | 11.43% |
+2,204,996
| New | +$155M |
|
|
4
Applovin
APP
$102B
| $126M | 10.04% |
+316,952
| New | +$153M |
|
|
5
Danaher
DHR
$154B
| $110M | 8.76% |
580,240
-247,280
| -30% | -$52.7M |
|
6
Royalty Pharma
RPRX
$27.3B
| $109M | 8.7% |
2,276,570
+17,101
| +0.8% | +$749K |
|
|
7
S&P Global
SPGI
$127B
| $94.7M | 7.54% |
+222,683
| New | +$103M |
|
8
Live Nation Entertainment
LYV
$42.4B
| $92.7M | 7.38% |
607,609
+4,636
| +0.8% | +$702K |
|
|
9
Meta Platforms (Facebook)
META
$1.4T
| $92.5M | 7.37% |
161,683
+1,233
| +0.8% | +$790K |
|
|
10
Uber
UBER
$161B
| $78.4M | 6.24% |
+1,090,281
| New | +$83.9M |
|
11
Booking.com
BKNG
$158B
| $69.2M | 5.51% |
411,100
+3,175
| +0.8% | +$584K |
|
|
12
AutoZone
AZO
$48.3B
| – | – |
-25,121
| Closed | -$85.2M |
|
|
13
Enovis
ENOV
$1.5B
| – | – |
-2,279,200
| Closed | -$60.7M |
|
|
14
Alphabet (Google) Class C
GOOG
$4.18T
| – | – |
-216,906
| Closed | -$68.1M |
|
Similar funds
Pat Dorsey's Q1 2026 Portfolio in Review
As of Q1 2026, Pat Dorsey held 14 positions worth $1.26B, up 9.2% from $1.15B the previous quarter. Its ten largest holdings account for 94% of the portfolio.
Pat Dorsey deployed $147M of net new capital in Q1 2026, opening 4 new positions and adding to 4 existing holdings. Its largest new stake was Sunbelt Rentals Holdings: 2,204,996 shares worth $144M.
By sector, the portfolio is most concentrated in Communication Services at 25% of assets, up from 23% a quarter earlier, followed by Industrials and Technology.
On the sell side, the largest reduction was ASML, an estimated $71.3M trimmed.
- Pat Dorsey's largest Q1 2026 buy was Sunbelt Rentals Holdings: 2,204,996 shares worth $144M.
- Pat Dorsey added most to Meta Platforms (Facebook) in Q1 2026, an estimated $790K increase.
- Pat Dorsey's biggest Q1 2026 reduction was ASML, cutting an estimated $71.3M.
- Pat Dorsey fully exited AutoZone in Q1 2026, selling an estimated $85.2M.
- Pat Dorsey's ten largest holdings make up 94% of its $1.26B portfolio in Q1 2026.
- Pat Dorsey opened 4 new positions and closed 3 in Q1 2026.
- Pat Dorsey's portfolio value rose 9.2% quarter-over-quarter to $1.26B.
Based on Dorsey Asset Management's 13F filing for Q1 2026, filed 15 May 2026.