Pat Dorsey – Dorsey Asset Management Portfolio Activity & Recent Trades (Sep 30, 2025)
As of Sep 30, 2025, the Dorsey Asset Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 14, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.
During Q3 2025, the filing reported:
New Buys – Royalty Pharma
Increases – ASML
Reductions – AerCap, AutoZone, Inc., Booking Holdings Inc. Common St, Danaher Corporation, Enovis Corporation, and 2 more
Complete Exits – SEMrush Holdings, Inc., Wix
These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.
| Date | Symbol | Name | Type | Change Qty | % Change | Value | Remaining |
|---|---|---|---|---|---|---|---|
Q3 2025 | AER AerCap | AerCap | Sell | -97,120 | -7.1% | $152.94M | 1,263,998 |
Q3 2025 | ASML ASML | ASML | Buy | +33,237 | +23.7% | $167.70M | 173,226 |
Q3 2025 | AZO AutoZone, Inc. | AutoZone, Inc. | Sell | -5,789 | -16.2% | $128.18M | 29,878 |
Q3 2025 | BKNG Booking Holdings Inc. Common St | Booking Holdings Inc. Common St | Sell | -1,315 | -7.2% | $91.65M | 16,975 |
Q3 2025 | DHR Danaher Corporation | Danaher Corporation | Sell | -66,142 | -7.1% | $170.67M | 860,850 |
Q3 2025 | ENOV Enovis Corporation | Enovis Corporation | Sell | -153,858 | -6.0% | $72.80M | 2,399,322 |
Q3 2025 | GOOG Alphabet Inc. | Alphabet Inc. | Sell | -232,672 | -35.1% | $104.56M | 429,318 |
Q3 2025 | META Meta Platforms, Inc. | Meta Platforms, Inc. | Sell | -52,884 | -21.6% | $141.17M | 192,224 |
Q3 2025 | RPRX Royalty Pharma | Royalty Pharma | Buy - Position Entry | +2,350,449 | - | $82.92M | 2,350,449 |
Q3 2025 | SEMR SEMrush Holdings, Inc. | SEMrush Holdings, Inc. | Sell - Position Exit | -2,284,578 | -100.0% | $0.00 | - |
Q3 2025 | WIX Wix | Wix | Sell - Position Exit | -146,777 | -100.0% | $0.00 | - |
Q2 2025 | AER AerCap | AerCap | Buy | +222,576 | +19.5% | $159.25M | 1,361,118 |
Q2 2025 | ASML ASML | ASML | Buy | +69,418 | +98.4% | $112.19M | 139,989 |
Q2 2025 | AZO AutoZone, Inc. | AutoZone, Inc. | Sell | -1,876 | -5.0% | $132.40M | 35,667 |
Q2 2025 | BKNG Booking Holdings Inc. Common St | Booking Holdings Inc. Common St | Buy | +2,321 | +14.5% | $105.89M | 18,290 |
Q2 2025 | DHR Danaher Corporation | Danaher Corporation | Buy | +235,688 | +34.1% | $183.12M | 926,992 |
Q2 2025 | ENOV Enovis Corporation | Enovis Corporation | Buy - Position Entry | +2,553,180 | - | $80.07M | 2,553,180 |
Q2 2025 | GOOG Alphabet Inc. | Alphabet Inc. | Buy | +23,239 | +3.6% | $117.43M | 661,990 |
Q2 2025 | META Meta Platforms, Inc. | Meta Platforms, Inc. | Sell | -1,949 | -0.8% | $180.91M | 245,108 |
Q2 2025 | PYPL PayPal Holdings, Inc. | PayPal Holdings, Inc. | Sell - Position Exit | -858,231 | -100.0% | $0.00 | - |
Q2 2025 | SEMR SEMrush Holdings, Inc. | SEMrush Holdings, Inc. | Buy | +27,845 | +1.2% | $20.68M | 2,284,578 |
Q2 2025 | SPT Sprout Social, Inc | Sprout Social, Inc | Sell - Position Exit | -2,304,414 | -100.0% | $0.00 | - |
Q2 2025 | WIX Wix | Wix | Sell | -172,605 | -54.0% | $23.26M | 146,777 |
Q1 2025 | AER AerCap | AerCap | Buy - Position Entry | +1,138,542 | - | $116.32M | 1,138,542 |
Q1 2025 | ASML ASML | ASML | Buy - Position Entry | +70,571 | - | $46.76M | 70,571 |
Q1 2025 | AZO AutoZone, Inc. | AutoZone, Inc. | Sell | -27 | -0.1% | $143.14M | 37,543 |
Q1 2025 | BKNG Booking Holdings Inc. Common St | Booking Holdings Inc. Common St | Buy - Position Entry | +15,969 | - | $73.57M | 15,969 |
Q1 2025 | DHR Danaher Corporation | Danaher Corporation | Buy | +296,513 | +75.1% | $141.72M | 691,304 |
Q1 2025 | GOOG Alphabet Inc. | Alphabet Inc. | Sell | -467 | -0.1% | $99.79M | 638,751 |
Q1 2025 | HRI Herc Holdings Inc. | Herc Holdings Inc. | Sell - Position Exit | -272,903 | -100.0% | $0.00 | - |