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 2021Dec 31, 2021	WIX Wix	Wix	Buy	+637,351+75.2%	$234.35K	1,485,198
Q4 2021Dec 31, 2021	SEMR SEMrush Holdings, Inc.	SEMrush Holdings, Inc.	Buy	+66,113+2.6%	$54.56K	2,616,838
Q4 2021Dec 31, 2021	SMAR Smartsheet Inc.	Smartsheet Inc.	Buy	+31,563+1.1%	$217.28K	2,805,457
Q4 2021Dec 31, 2021	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+2,494+0.4%	$194.41K	577,985
Q4 2021Dec 31, 2021	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy	+2,464+0.4%	$107.72K	571,209
Q4 2021Dec 31, 2021	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+109+0.4%	$72.39K	25,018
Q4 2021Dec 31, 2021	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-92,492-11.9%	$106.14K	685,261
Q4 2021Dec 31, 2021	UPWK Upwork Inc.	Upwork Inc.	Sell	-176,348-10.9%	$49.31K	1,443,618
Q4 2021Dec 31, 2021	EBAY eBay Inc.	eBay Inc.	Sell	-461,008-27.8%	$79.63K	1,197,424
Q3 2021Sep 30, 2021	SEMR SEMrush Holdings, Inc.	SEMrush Holdings, Inc.	Buy - Position Entry	+2,550,725	$58.82K	2,550,725
Q3 2021Sep 30, 2021	WIX Wix	Wix	Buy	+217,032+34.4%	$166.15K	847,847
Q3 2021Sep 30, 2021	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+68,182+9.6%	$131.57K	777,753
Q3 2021Sep 30, 2021	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy	+19,865+3.6%	$147.99K	568,745
Q3 2021Sep 30, 2021	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+192+0.8%	$66.39K	24,909
Q3 2021Sep 30, 2021	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-101,045-14.9%	$195.32K	575,491
Q3 2021Sep 30, 2021	SMAR Smartsheet Inc.	Smartsheet Inc.	Sell	-428,304-13.4%	$190.90K	2,773,894
Q3 2021Sep 30, 2021	UPWK Upwork Inc.	Upwork Inc.	Sell	-531,412-24.7%	$72.95K	1,619,966
Q3 2021Sep 30, 2021	EBAY eBay Inc.	eBay Inc.	Sell	-625,044-27.4%	$115.54K	1,658,432
Q2 2021Jun 30, 2021	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy - Position Entry	+709,571	$124.72K	709,571
Q2 2021Jun 30, 2021	SMAR Smartsheet Inc.	Smartsheet Inc.	Buy	+481,400+17.7%	$231.58K	3,202,198
Q2 2021Jun 30, 2021	EBAY eBay Inc.	eBay Inc.	Buy	+347,900+18.0%	$160.32K	2,283,476
Q2 2021Jun 30, 2021	UPWK Upwork Inc.	Upwork Inc.	Buy	+321,906+17.6%	$125.40K	2,151,378
Q2 2021Jun 30, 2021	WIX Wix	Wix	Buy	+204,813+48.1%	$183.11K	630,815
Q2 2021Jun 30, 2021	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy	+83,614+18.0%	$159.99K	548,880
Q2 2021Jun 30, 2021	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-7,554-23.4%	$61.95K	24,717
Q2 2021Jun 30, 2021	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-69,842-9.4%	$235.24K	676,536
Q1 2021Mar 31, 2021	SMAR Smartsheet Inc.	Smartsheet Inc.	Buy	+1,433,608+111.4%	$173.91K	2,720,798
Q1 2021Mar 31, 2021	EBAY eBay Inc.	eBay Inc.	Buy	+384,269+24.8%	$118.53K	1,935,576
Q1 2021Mar 31, 2021	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy	+209,025+81.6%	$112.98K	465,266
Q1 2021Mar 31, 2021	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+135,248+22.1%	$219.83K	746,378

Page 6 of 11 • 322 total trades

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