Pat Dorsey – Dorsey Asset Management Portfolio Activity & Recent Trades (Jun 30, 2025)

As of Jun 30, 2025, the Dorsey Asset Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 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 Q2 2025, the filing reported:

New Buys – Enovis Corporation (ENOV)

Increases – Danaher Corporation (DHR), AerCap (AER), ASML (ASML), SEMrush Holdings, Inc. (SEMR), Alphabet Inc. (GOOG), and 1 more

Reductions – AutoZone, Inc. (AZO), Meta Platforms, Inc. (META), Wix (WIX)

Complete Exits – PayPal Holdings, Inc. (PYPL), Sprout Social, Inc (SPT)

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Dorsey Asset Management Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q4 2022Dec 31, 2022	WIX Wix	Wix	Sell	-276,529-14.7%	$123.20M	1,603,578
Q3 2022Sep 30, 2022	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+538,602+1902.0%	$54.51K	566,919
Q3 2022Sep 30, 2022	SEMR SEMrush Holdings, Inc.	SEMrush Holdings, Inc.	Buy	+4,384+0.1%	$38.70K	3,452,605
Q3 2022Sep 30, 2022	SMAR Smartsheet Inc.	Smartsheet Inc.	Buy	+3,434+0.1%	$118.25K	3,441,486
Q3 2022Sep 30, 2022	UPWK Upwork Inc.	Upwork Inc.	Buy	+2,664+0.1%	$36.36K	2,669,800
Q3 2022Sep 30, 2022	WIX Wix	Wix	Buy	+1,926+0.1%	$147.08K	1,880,107
Q3 2022Sep 30, 2022	ROKU Roku, Inc.	Roku, Inc.	Buy	+1,449+0.1%	$80.26K	1,423,046
Q3 2022Sep 30, 2022	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+962+0.1%	$102.78K	757,556
Q3 2022Sep 30, 2022	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+941+0.1%	$69.91K	741,105
Q3 2022Sep 30, 2022	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy	+940+0.1%	$63.74K	740,556
Q2 2022Jun 30, 2022	UPWK Upwork Inc.	Upwork Inc.	Buy	+1,109,027+71.2%	$55.16K	2,667,136
Q2 2022Jun 30, 2022	ROKU Roku, Inc.	Roku, Inc.	Buy	+744,382+109.9%	$116.77K	1,421,597
Q2 2022Jun 30, 2022	SMAR Smartsheet Inc.	Smartsheet Inc.	Buy	+428,899+14.3%	$108.06K	3,438,052
Q2 2022Jun 30, 2022	WIX Wix	Wix	Buy	+312,134+19.9%	$123.11K	1,878,181
Q2 2022Jun 30, 2022	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+4,735+20.1%	$61.94K	28,317
Q2 2022Jun 30, 2022	SEMR SEMrush Holdings, Inc.	SEMrush Holdings, Inc.	Buy	+2,860+0.1%	$44.59K	3,448,221
Q2 2022Jun 30, 2022	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+637+0.1%	$122.00K	756,594
Q2 2022Jun 30, 2022	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy	+620+0.1%	$51.66K	739,616
Q2 2022Jun 30, 2022	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+554+0.1%	$69.87K	740,164
Q2 2022Jun 30, 2022	EBAY eBay Inc.	eBay Inc.	Sell - Position Exit	-1,292,392-100.0%	$0.00	-
Q1 2022Mar 31, 2022	SEMR SEMrush Holdings, Inc.	SEMrush Holdings, Inc.	Buy	+828,523+31.7%	$41.14K	3,445,361
Q1 2022Mar 31, 2022	ROKU Roku, Inc.	Roku, Inc.	Buy - Position Entry	+677,215	$84.83K	677,215
Q1 2022Mar 31, 2022	SMAR Smartsheet Inc.	Smartsheet Inc.	Buy	+203,696+7.3%	$164.84K	3,009,153
Q1 2022Mar 31, 2022	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+177,972+30.8%	$168.09K	755,957
Q1 2022Mar 31, 2022	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy	+167,787+29.4%	$85.47K	738,996
Q1 2022Mar 31, 2022	UPWK Upwork Inc.	Upwork Inc.	Buy	+114,491+7.9%	$36.21K	1,558,109
Q1 2022Mar 31, 2022	EBAY eBay Inc.	eBay Inc.	Buy	+94,968+7.9%	$74.00K	1,292,392
Q1 2022Mar 31, 2022	WIX Wix	Wix	Buy	+80,849+5.4%	$163.59K	1,566,047
Q1 2022Mar 31, 2022	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+54,349+7.9%	$101.44K	739,610
Q1 2022Mar 31, 2022	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-1,436-5.7%	$65.86K	23,582

Page 5 of 11 • 322 total trades

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