Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供背景参考 · 非买入清单
Dorsey Asset Management
superinvestor_value
D
leaderboard rank榜单排名 #40
Book持仓规模
$1.3B
long US listed only仅美股多头
Positions持仓数
11
73% resolved已解析
Top-10 concentration前十集中度
94%
% of book占组合%
Turnover换手
LOW
17.5% per quarter每季
Median excess中位超额
-25%
buys vs SPY, since filing买入相对SPY，自申报起 · n 23
Hit rate胜率
26%
share of buys beating SPY跑赢SPY的买入占比
Core lean — the 10-second read核心倾向 — 10秒速读
Core lean: AI Software & Platforms — added APP (+10.0pp of book this quarter)核心倾向：AI 软件与平台 — 本季度加仓 APP（占组合 +10.0pp）
AI Software & PlatformsAI 软件与平台
+10.0pp
17.4% of book held占组合持有
· 2 names标的
· AI & Technology
APP
AI Agents & ApplicationsAI 智能体与应用
+10.0pp
10.0% of book held占组合持有
· 1 names标的
· Artificial Intelligence
APP
Technology (Equal-Weight)信息技术（等权）
+10.0pp
10.0% of book held占组合持有
· 1 names标的
· US Sectors (EW)
APP
Financials (Equal-Weight)金融（等权）
+7.5pp
7.5% of book held占组合持有
· 1 names标的
· US Sectors (EW)
SPGI
Industrials (Equal-Weight)工业（等权）
+6.2pp
6.2% of book held占组合持有
· 1 names标的
· US Sectors (EW)
UBER
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新申报的描述性解读——主题按精选篮子聚类（Finviz 兜底），added-pp = 本季度买入占组合百分比之和。非预测。
Grade & excess history评级与超额历史
per-quarter buy cohorts, scored on public filing dates vs SPY — descriptive ranks in a curated survivor cohort按季度买入队列，以公开申报日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: · 5 scored quarters已评分季度 · 20% positive为正 · recent-4 median近4季中位 -27% vs all-time对全期 -25%
Median excess by quarter各季度中位超额: █▁▂▁▅ (oldest → newest, shifted by the series minimum so negatives render由旧到新，按序列最小值平移以呈现负值)
| Quarter季度 | Buys买入数 | Median excess中位超额 | Hit胜率 | Median fwd 63d中位前瞻63日 |
|---|---|---|---|---|
| 2023-09-30 | 3 | +16% | 67% | -7% |
| 2024-12-31 | 5 | -36% | 20% | -3% |
| 2025-03-31 | 3 | -25% | 0% | +1% |
| 2025-06-30 | 3 | -29% | 0% | -2% |
| 2026-03-31 | 3 | -3% | 33% | — |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新申报；季度环比变化对上季Current weights当前权重 · 2026-03-31
Unclassified
47.1%
▲ +6.5pp
Technology
16.3%
▲ +16.3pp
Communication Services
14.7%
▼ -7.8pp
Healthcare
8.8%
▼ -7.7pp
Financial
7.5%
▲ +7.5pp
Consumer Cyclical
5.5%
▼ -9.5pp
Theme categories主题类别
US Sectors (EW) 22.6%
AI & Technology 17.4%
Consumer Cyclical 12.9%
Rotating into (QoQ)轮入（环比）
Technology +16.3pp
Financial +7.5pp
Rotating out of (QoQ)轮出（环比）
Consumer Cyclical -9.5pp
Communication Services -7.8pp
Healthcare -7.7pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-03-31 | Unclassified 47% · Technology 16% · Communication Services 15% |
| 2025-12-31 | Unclassified 41% · Communication Services 23% · Healthcare 16% |
| 2025-09-30 | Unclassified 36% · Communication Services 22% · Consumer Cyclical 20% |
| 2025-06-30 | Unclassified 28% · Communication Services 27% · Consumer Cyclical 21% |
| 2025-03-31 | Unclassified 30% · Communication Services 26% · Consumer Cyclical 23% |
| 2024-12-31 | Unclassified 37% · Communication Services 25% · Consumer Cyclical 12% |
| 2024-09-30 | Unclassified 36% · Communication Services 22% · Consumer Cyclical 10% |
| 2024-06-30 | Unclassified 44% · Communication Services 25% · Consumer Cyclical 11% |
| 2024-03-31 | Unclassified 38% · Communication Services 31% · Financial 9% |
| 2023-12-31 | Unclassified 42% · Communication Services 33% · Financial 10% |
| 2023-09-30 | Communication Services 41% · Unclassified 39% · Financial 10% |
| 2023-06-30 | Communication Services 50% · Unclassified 39% · Industrials 6% |
Full book完整持仓
every resolved position as filed — click a column header to sort. Conviction is a descriptive composite, not a forecast.截至申报日的全部已解析持仓——点击列头排序。信念分为描述性综合指标，非预测。8 positions shown项持仓 · resolved已解析 8/11 (73%) · unresolved CUSIPs are excluded from this table but counted in book totals未解析CUSIP不列入本表，但计入组合总额
| #↕ | Ticker标的 ↕ | Company公司 ↕ | % book仓位% ↕ | Value金额 ↕ | Action动作 ↕ | Δ sharesΔ股数 ↕ | Add streak连加季数 ↕ | Conviction信念分 ↕ | Sector行业 ↕ | Themes主题 | Since filing自申报 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  SUNB |
Sunbelt Rentals Holdings Inc | 11.4% | $144M | new | — | 1q | 75 · HIGH | — | — | — |
| 2 | APP |
Applovin Corp | 10.0% | $126M | new | — | 1q | 81 · HIGH | Technology | AI Software & Platforms, AI Agents & Applications, Technology (Equal-Weight) | -15% |
| 3 |  DHR |
Danaher Corp Del | 8.8% | $110M | trim | -30% | — | 61 · MODERATE | Healthcare | Health Care (Equal-Weight) | +25% |
| 4 | SPGI |
S&p Global Inc | 7.5% | $95M | new | — | 1q | 52 · MODERATE | Financial | Financials (Equal-Weight) | +19% |
| 5 |  LYV |
Live Nation Entertainment In | 7.4% | $93M | hold | +1% | — | 42 · LOW | Communication Services | Travel & Experiences, Communication Services (Equal-Weight) | +4% |
| 6 |  META |
Meta Platforms Inc | 7.4% | $93M | hold | +1% | — | 38 · LOW | Communication Services | Magnificent Seven, AI Software & Platforms, Communication Services (Equal-Weight) | +7% |
| 7 | UBER |
Uber Technologies Inc | 6.2% | $78M | new | — | 1q | 39 · LOW | Technology | Industrials (Equal-Weight) | -3% |
| 8 |  BKNG |
Booking Holdings Inc | 5.5% | $69M | hold | +1% | — | 29 · LOW | Consumer Cyclical | Travel & Experiences, Consumer Discretionary (Equal-Weight) | +19% |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本申报周期，不设上限——新建/加仓与减持取自已解析持仓，清仓取自轮动数据Rotated into轮入 (4)
| SUNB new |
11.4% | — |
| APP new |
10.0% | -15% |
| SPGI new |
7.5% | +19% |
| UBER new |
6.2% | -3% |
Rotated out of轮出 (4)
| DHR trim |
-30% | +25% |
 AZO exit |
-100% | -9% |
 ENOV exit |
-100% | +3% |
 GOOG exit |
-100% | -12% |
Trade log交易记录
last 40 graded trades, filing-date anchored, newest first — variable hold vs SPY最近40笔已评分交易，以申报日为锚，最新在前——持有期不定，相对SPYNo graded trades available for this fund.该基金暂无已评分交易。
Caveats注意事项 —
13F = quarterly, ~45-day lag, long-only US listed ≥$100M. No shorts, no cash, no non-US positions. This desk is context — ownership is never a directional signal here.13F = 季度披露，约45天滞后，仅含美股多头且持仓≥1亿美元。不含空头、现金或非美股仓位。本台仅为背景参考——持仓数据在此永远不是方向性信号。
Grades and reliability are descriptive ranks within a curated survivor cohort — they measure what filings did after their filing dates, not a manager-selection edge. Conviction and core-lean reads are descriptive composites earning a forward record via the pre-registered ledger (L5); sector/theme classification applies the current map to history.评级与可靠性为精选幸存者队列中的描述性排名——衡量申报日之后持仓的表现，而非经理选择能力。信念分与核心倾向为描述性综合指标，通过预注册账本（L5）积累前瞻记录；行业/主题分类将当前映射应用于历史。