Dorsal Capital Management, LP In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Dorsal Capital Management, LP reported 23 stock positions worth $3.5 billion . Its top holding was Sea Ltd.-ADR (SE) at 8.4% of the portfolio, followed by Planet Fitness Class A (PLNT, 7.7% ) and Amazon.com (AMZN, 7.3% ). Compared with Q1 2025, it opened 2 new positions, sold out of 2, added to 9 and reduced 6. The biggest buy was Sea Ltd.-ADR (SE, shares +23% ) and the biggest sale Wix.com (WIX, shares −28% ).
Location Redwood City, CA
CIK 0001547007
Portfolio Value $3.5B (Q2 2025) Holdings 23 stocks · $3.5B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2025 SE Sea Ltd.-ADR 1,850,000 $295.9M Add +23.3% PLNT Planet Fitness Inc. Class A 2,475,000 $269.9M Add +7.6% AMZN Amazon.com Inc. 1,175,000 $257.8M Reduce -26.6% MSFT Microsoft Corp. 500,000 $248.7M Add +14.9% TSM Taiwan Semiconductor-SP ADR 1,075,000 $243.5M Add +7.5% CPNG Coupang Inc. 7,300,000 $218.7M Add +4.3% USFD US Foods Holding Corp. 2,750,000 $211.8M Reduce -4.3% HD Home Depot Inc. 525,000 $192.5M Add +31.3% BURL Burlington Stores Inc. 750,000 $174.5M Add +7.1% Z Zillow Group Inc. Class C 2,450,000 $171.6M Reduce -19.7% META Meta Platforms Inc. Class A 230,000 $169.8M Reduce -16.4% WIX Wix.com Ltd. 1,050,000 $166.4M Reduce -27.6% FLUT Flutter Entertainment PLC-Di 525,000 $150.0M Add +16.7% ADSK Autodesk Inc. 425,000 $131.6M No change DT Dynatrace Inc. 2,150,000 $118.7M No change MNDY Monday.com Ltd. 375,000 $117.9M No change FWONK Liberty Media Corp. Class C 1,100,000 $115.0M No change SN Sharkninja Inc. 850,000 $84.1M No change NTNX Nutanix Inc. Class A 900,000 $68.8M No change APP AppLovin Corp. Class A 100,000 $35.0M Reduce -44.4% QRVO Qorvo Inc. 405,000 $34.4M New AAP Advance Auto Parts Inc. 700,000 $32.5M Add +16.7% HNGE Hinge Health Inc. Class A 70,000 $3.6M New
Options reported separately and not counted above: SE calls ($159.9M), PLTR puts ($54.5M), UBER puts ($23.3M).
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ WIX Wix.com Ltd. Reduce -27.6% 4.74% −2.91 AMZN Amazon.com Inc. Reduce -26.6% 7.34% −2.49 AVGO Broadcom Inc. Sold out 0.00% −2.46 Z Zillow Group Inc. Class C Reduce -19.7% 4.89% −1.86 APP AppLovin Corp. Class A Reduce -44.4% 1.00% −0.54 META Meta Platforms Inc. Class A Reduce -16.4% 4.83% −0.28 AUR Aurora Innovation Inc. Sold out 0.00% −0.11 USFD US Foods Holding Corp. Reduce -4.3% 6.03% −0.05
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ SE Sea Ltd.-ADR Add +23.3% 8.42% +2.11 MSFT Microsoft Corp. Add +14.9% 7.08% +1.81 TSM Taiwan Semiconductor-SP ADR Add +7.5% 6.93% +1.57 CPNG Coupang Inc. Add +4.3% 6.23% +1.27 FLUT Flutter Entertainment PLC-Di Add +16.7% 4.27% +1.05 QRVO Qorvo Inc. New 0.98% +0.98 HD Home Depot Inc. Add +31.3% 5.48% +0.75 PLNT Planet Fitness Inc. Class A Add +7.6% 7.68% +0.51 AAP Advance Auto Parts Inc. Add +16.7% 0.93% +0.17 HNGE Hinge Health Inc. Class A New 0.10% +0.10 BURL Burlington Stores Inc. Add +7.1% 4.97% −0.42
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ PLTR Palantir Technologies Inc. Class A put Reduce -20.0% 400,000 $54.5M UBER Uber Technologies Inc. put New 250,000 $23.3M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 22 $2.8B AMZN, TSM, FWONK, HD, LRCX Q1 2026 25 $2.5B TSM, AMZN, PLNT, FWONK, HD Q4 2025 20 $2.8B PLNT, TSM, MSFT, Z, HD Q3 2025 23 $3.7B SE, WIX, TSM, PLNT, MSFT Q2 2025 23 $3.5B SE, PLNT, AMZN, MSFT, TSM Q1 2025 23 $3.1B AMZN, WIX, PLNT, Z, SE Q4 2024 22 $3.3B AMZN, WIX, Z, USFD, MSFT Q3 2024 19 $3.1B AMZN, USFD, PLNT, WIX, META Q2 2024 21 $2.9B AMZN, USFD, MSFT, PLNT, WIX Q1 2024 24 $3.0B AMZN, MSFT, META, USFD, CRM