Dorsey Asset Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Pat Dorsey's Dorsey Asset Management reported 10 stock positions worth $1.2 billion. Its top holding was ASML Holding NV-NY Reg SHS (ASML) at 17.9% of the portfolio, followed by Danaher (DHR, 16.5%) and Aercap (AER, 15.2%). Compared with Q3 2025, it opened 1 new position, added to 1 and reduced 8. The biggest buy was a new position in Live Nation Entertainment (LYV) and the biggest sale AutoZone (AZO, shares −16%).
- Most Recent 13F
- Q2 2026
- Notable People
- Pat Dorsey
- Location
- CHICAGO, IL
- CIK
- 0001671657
- Portfolio Value
- $1.2B (Q4 2025)
- SEC Filing
- 0001398344-26-003214 ↗ filed Feb 17, 2026
Holdings Value
Holdings 10 stocks · $1.2B
| ASML ASML Holding NV-NY Reg SHS | 17.89% | 192,343 | $205.8M | Add +11.0% |
| DHR Danaher Corp. | 16.47% | 827,520 | $189.4M | Reduce -3.9% |
| AER Aercap Holdings NV | 15.18% | 1,215,059 | $174.7M | Reduce -3.9% |
| META Meta Platforms Inc. Class A | 9.21% | 160,450 | $105.9M | Reduce -16.5% |
| BKNG Booking Holdings Inc. | 7.60% | 16,317 | $87.4M | Reduce -3.9% |
| RPRX Royalty Pharma PLC Class A | 7.59% | 2,259,469 | $87.3M | Reduce -3.9% |
| LYV Live Nation Entertainment Inc. | 7.47% | 602,973 | $85.9M | New |
| AZO AutoZone Inc. | 7.41% | 25,121 | $85.2M | Reduce -15.9% |
| GOOG Alphabet Inc. Class C | 5.92% | 216,906 | $68.1M | Reduce -49.5% |
| ENOV Enovis Corp. | 5.28% | 2,279,200 | $60.7M | Reduce -5.0% |
Portfolio Sells Q3 2025 → Q4 2025
| AZO AutoZone Inc. | Reduce -15.9% | 7.41% | −4.12 |
| META Meta Platforms Inc. Class A | Reduce -16.5% | 9.21% | −3.48 |
| GOOG Alphabet Inc. Class C | Reduce -49.5% | 5.92% | −3.48 |
| ENOV Enovis Corp. | Reduce -5.0% | 5.28% | −1.26 |
| BKNG Booking Holdings Inc. | Reduce -3.9% | 7.60% | −0.64 |
| RPRX Royalty Pharma PLC Class A | Reduce -3.9% | 7.59% | +0.14 |
| DHR Danaher Corp. | Reduce -3.9% | 16.47% | +1.13 |
| AER Aercap Holdings NV | Reduce -3.9% | 15.18% | +1.44 |
Portfolio Buys Q3 2025 → Q4 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 |