Dorsey Asset Management

Q2 2021 13F · by Pat Dorsey, portfolio manager

As of: Jun 30, 2021
Filed: Jul 30, 2021
US stock: $1.3B · prev $956M
Positions: 9 · prev 8
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves9 since the prior filing

+10.9 pp in · −10.9 pp out

New 1 +9.40 pp
Added 5 +1.46 pp
Trimmed 3 −10.86 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 8 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 18% a year, about 5.5 years per position

Low
Moderate
High

Top 5 positions73% of US stock

META Meta Platforms, Inc. Class A trimmed−5.25 pp trimmed−5.2517.7%
SMAR Smartsheet Inc. added−0.73 pp added−0.7317.5%
WIX WIX.com Ltd. added+1.37 pp added+1.3713.8%
EBAY eBay Inc added−0.31 pp added−0.3112.1%
PYPL PayPal Holdings, Inc. added+0.24 pp added+0.2412.1%

Positions9 in this filing · 0 exited


METAMeta Platforms, Inc. Class A	17.74%	676,536	$235M	trimmed−9%	−5.25 pp	19 q
SMARSmartsheet Inc.	17.46%	3,202,198	$232M	added+18%	−0.73 pp	5 q
WIXWIX.com Ltd.	13.81%	630,815	$183M	added+48%	+1.37 pp	12 q
EBAYeBay Inc	12.09%	2,283,476	$160M	added+18%	−0.31 pp	4 q
PYPLPayPal Holdings, Inc.	12.06%	548,880	$160M	added+18%	+0.24 pp	13 q
UPWKUpwork Inc.	9.46%	2,151,378	$125M	added+18%	+0.89 pp	5 q
DISThe Walt Disney Company	9.40%	709,571	$125M	new	+9.40 pp	new
GOOGAlphabet Inc. Class C	4.67%	24,717	$62M	trimmed−23%	−2.31 pp	18 q
DESPDespegar.com Corp	3.31%	3,320,397	$44M	trimmed−28%	−3.30 pp	10 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001398344-21-016218
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet