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
Q1 2021Mar 31, 2021	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-15,022-31.8%	$66.76K	32,271
Q1 2021Mar 31, 2021	UPWK Upwork Inc.	Upwork Inc.	Sell	-56,674-3.0%	$81.91K	1,829,472
Q1 2021Mar 31, 2021	WIX Wix	Wix	Sell	-74,444-14.9%	$118.95K	426,002
Q1 2021Mar 31, 2021	ROKU Roku, Inc.	Roku, Inc.	Sell - Position Exit	-128,601-100.0%	$0.00	-
Q4 2020Dec 31, 2020	EBAY eBay Inc.	eBay Inc.	Buy	+680,231+78.1%	$77.95K	1,551,307
Q4 2020Dec 31, 2020	SMAR Smartsheet Inc.	Smartsheet Inc.	Buy	+397,203+44.6%	$89.19K	1,287,190
Q4 2020Dec 31, 2020	WIX Wix	Wix	Buy	+90,031+21.9%	$125.09K	500,446
Q4 2020Dec 31, 2020	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+4,518+0.7%	$166.94K	611,130
Q4 2020Dec 31, 2020	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy	+1,900+0.7%	$60.01K	256,241
Q4 2020Dec 31, 2020	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+346+0.7%	$82.85K	47,293
Q4 2020Dec 31, 2020	ROKU Roku, Inc.	Roku, Inc.	Sell	-174,772-57.6%	$42.70K	128,601
Q4 2020Dec 31, 2020	UPWK Upwork Inc.	Upwork Inc.	Sell	-2,064,205-52.3%	$65.11K	1,886,146
Q3 2020Sep 30, 2020	EBAY eBay Inc.	eBay Inc.	Buy - Position Entry	+871,076	$45.38K	871,076
Q3 2020Sep 30, 2020	UPWK Upwork Inc.	Upwork Inc.	Buy	+163,862+4.3%	$68.89K	3,950,351
Q3 2020Sep 30, 2020	WIX Wix	Wix	Buy	+94,067+29.7%	$104.59K	410,415
Q3 2020Sep 30, 2020	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy	+5,414+2.2%	$50.11K	254,341
Q3 2020Sep 30, 2020	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+999+2.2%	$68.99K	46,947
Q3 2020Sep 30, 2020	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-34,159-5.3%	$158.87K	606,612
Q3 2020Sep 30, 2020	ROKU Roku, Inc.	Roku, Inc.	Sell	-39,028-11.4%	$57.28K	303,373
Q3 2020Sep 30, 2020	SMAR Smartsheet Inc.	Smartsheet Inc.	Sell	-745,050-45.6%	$43.98K	889,987
Q2 2020Jun 30, 2020	UPWK Upwork Inc.	Upwork Inc.	Buy - Position Entry	+3,786,489	$54.68K	3,786,489
Q2 2020Jun 30, 2020	SMAR Smartsheet Inc.	Smartsheet Inc.	Buy - Position Entry	+1,635,037	$83.26K	1,635,037
Q2 2020Jun 30, 2020	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+35,394+5.8%	$145.50K	640,771
Q2 2020Jun 30, 2020	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-855-1.8%	$64.95K	45,948
Q2 2020Jun 30, 2020	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Sell	-4,630-1.8%	$43.37K	248,927
Q2 2020Jun 30, 2020	ROKU Roku, Inc.	Roku, Inc.	Sell	-150,473-30.5%	$39.90K	342,401
Q2 2020Jun 30, 2020	WIX Wix	Wix	Sell	-238,943-43.0%	$81.06K	316,348
Q1 2020Mar 31, 2020	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+157,340+35.1%	$100.98K	605,377
Q1 2020Mar 31, 2020	ROKU Roku, Inc.	Roku, Inc.	Buy	+129,386+35.6%	$43.12K	492,874
Q1 2020Mar 31, 2020	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+36,460+352.5%	$54.42K	46,803

Page 7 of 11 • 322 total trades

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