Dorsey Asset Management
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Pat Dorsey's Dorsey Asset Management reported 11 stock positions worth $943.6 million. Its top holding was AutoZone (AZO) at 15.2% of the portfolio, followed by Meta Platforms Class A (META, 15.1%) and Danaher (DHR, 15.0%). Compared with Q4 2024, it opened 3 new positions, sold out of 3, added to 2 and reduced 6. The biggest buy was a new position in Aercap (AER) and the biggest sale an exit from Smartsheet Class A (SMAR).
- Most Recent 13F
- Q2 2026
- Notable People
- Pat Dorsey
- Location
- CHICAGO, IL
- CIK
- 0001671657
- Portfolio Value
- $943.6M (Q1 2025)
- SEC Filing
- 0001398344-25-009457 ↗ filed May 15, 2025
Holdings Value
Holdings 11 stocks · $943.6M
| AZO AutoZone Inc. | 15.17% | 37,543 | $143.1M | Reduce -0.1% |
| META Meta Platforms Inc. Class A | 15.09% | 247,057 | $142.4M | Add +18.6% |
| DHR Danaher Corp. | 15.02% | 691,304 | $141.7M | Add +75.1% |
| AER Aercap Holdings NV | 12.33% | 1,138,542 | $116.3M | New |
| GOOG Alphabet Inc. Class C | 10.58% | 638,751 | $99.8M | Reduce -0.1% |
| BKNG Booking Holdings Inc. | 7.80% | 15,969 | $73.6M | New |
| PYPL PayPal Holdings Inc. | 5.93% | 858,231 | $56.0M | Reduce -34.0% |
| WIX Wix.com Ltd. | 5.53% | 319,382 | $52.2M | Reduce -44.8% |
| SPT Sprout Social Inc. Class A | 5.37% | 2,304,414 | $50.7M | Reduce -0.1% |
| ASML ASML Holding NV-NY Reg SHS | 4.96% | 70,571 | $46.8M | New |
| SEMR Semrush Holdings Inc. Class A | 2.23% | 2,256,733 | $21.1M | Reduce -0.1% |
Portfolio Sells Q4 2024 → Q1 2025
| SMAR Smartsheet Inc. Class A | Sold out | 0.00% | −8.36 |
| WIX Wix.com Ltd. | Reduce -44.8% | 5.53% | −7.27 |
| PYPL PayPal Holdings Inc. | Reduce -34.0% | 5.93% | −5.51 |
| HRI Herc Holdings Inc. | Sold out | 0.00% | −5.33 |
| UPWK Upwork Inc. | Sold out | 0.00% | −5.13 |
| GOOG Alphabet Inc. Class C | Reduce -0.1% | 10.58% | −1.97 |
| SPT Sprout Social Inc. Class A | Reduce -0.1% | 5.37% | −1.93 |
| SEMR Semrush Holdings Inc. Class A | Reduce -0.1% | 2.23% | −0.53 |
| AZO AutoZone Inc. | Reduce -0.1% | 15.17% | +2.77 |
Portfolio Buys Q4 2024 → Q1 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 11 | $1.6B | ASML, APP, RPRX, BKNG, SPGI |
| Q1 2026 | 11 | $1.3B | ASML, AER, SUNB, APP, DHR |
| Q4 2025 | 10 | $1.2B | ASML, DHR, AER, META, BKNG |
| Q3 2025 | 9 | $1.1B | DHR, ASML, AER, META, AZO |
| Q2 2025 | 10 | $1.1B | DHR, META, AER, AZO, GOOG |
| Q1 2025 | 11 | $943.6M | AZO, META, DHR, AER, GOOG |
| Q4 2024 | 11 | $970.0M | WIX, META, GOOG, AZO, PYPL |
| Q3 2024 | 12 | $927.6M | META, AZO, WIX, APP, PYPL |
| Q2 2024 | 11 | $839.4M | META, SMAR, WIX, AZO, GOOG |
| Q1 2024 | 10 | $860.2M | META, GOOG, WIX, SMAR, PYPL |