13F filing recap · Q3 2025

What did Dorsey Asset Management buy in Q3 2025?

Reported stock-position changes between this filing and the previous one.

Stock value

$1.11B

Positions

Estimated turnover

28.4%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Quarter in review

Dorsey Asset Management opened a new position in Royalty Pharma and exited Semrush Holdings and Wix.com entirely. The firm also substantially trimmed Alphabet, while moderately reducing Meta Platforms, Autozone, and Asml Holding. Slight decreases were made to Danaher, Aercap Holdings, Booking Holdings, and Enovis.

New positions

RPRXRoyalty Pharma Plc$82.92Mreported value+2.35M shares

Increased positions

ASMLAsml Holding N.v.$167.70Mreported value+33.2K shares+23.7%

Reduced positions

DHRDanaher Corporation$170.67Mreported value-66.1K shares-7.1%AERAercap Holdings N.v.$152.94Mreported value-97.1K shares-7.1%METAMeta Platforms, Inc.$141.17Mreported value-52.9K shares-21.6%AZOAutozone Inc$128.18Mreported value-5.8K shares

Exited positions

WIXWix.com Ltd.$23.26Mprior reported value-146.8K shares-100.0%SEMRSemrush Holdings, Inc.$20.68Mprior reported value-2.28M shares-100.0%