Investors / stance tracking
What Pat Dorsey is saying
Founder & Portfolio Manager, Dorsey Asset Management
13 dated public stances tracked since 2015-01-16, most recently 2026-07-06. Each line carries the date and the venue it came from; quotation marks mean verbatim. Methodology.
The stances below are c8alpha's editorial distillation of Pat Dorsey's public commentary — television, podcasts, and interviews — compiled by automated transcript analysis and dated to the episode they came from. They may lag the speaker's current view and may contain extraction errors. Text in quotation marks is verbatim from the episode; everything else is our paraphrase. Pat Dorsey is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.
Think we got something wrong? Report a misattribution — we correct it or take it down.
13
tracked stances
12
themes
0
side flips
2026-07-06
last heard
Returns 90d -10.3% (n=5)
Raw direction-aware returns on public statements — long calls credited when the price rose, shorts when it fell, shorts capped at −100% — in a rising market this mostly measures who was long, not who has skill. Returns run from the stance date; calls are rarely closed publicly, so fixed 90-day / 180-day / 1-year horizons are used. A horizon shows only once it has fully matured, and only at 5+ scored stances.
Most-argued themes
| Theme | Stances | Lean | Mix | Last |
|---|---|---|---|---|
| ROP | 2 | 2 bullish | 2015-04-07 | |
| ASML | 1 | 1 bullish | 2026-07-06 | |
| CSE | 1 | 1 bullish | 2015-01-16 | |
| DIS | 1 | 1 bullish | 2022-04-09 | |
| HWDN | 1 | 1 bullish | 2017-06-19 | |
| JSE | 1 | 1 bullish | 2015-01-16 |
Tracked stances
bullish / bearish is a view they argued; owns / short is a position they said they hold.
2026-07-06
SAFRAN
bullish
Capital Allocators · video
Safran owns one-half of the CFM56 aircraft engine franchise installed on a large portion of the 737 fleet, creating a durable aerospace moat that is unlikely to erode regardless of disclosure shortcomings.
“they've got one half of the CFM56 franchise… on a lot of 737s, and it ain't going away”
Pat Dorsey: The Nuances of Investing in Moats (Capital Allocators, EP.509)
2026-07-06
ASML
owns
Capital Allocators · video
ASML holds a monopoly on a critical node in the semiconductor equipment value chain and has demonstrated disciplined capital allocation over time, making it too compelling to overlook despite being non-US listed.
“our largest position right now is ASML… a monopoly on a key part of the semiconductor value chain”
Pat Dorsey: The Nuances of Investing in Moats (Capital Allocators, EP.509)
2026-07-06
META
owns
Capital Allocators · video
Meta has maintained a durable social media moat across platform shifts while never reaching extreme overvaluation, making it a long-term compounder worth continued ownership since the 2015 initial buy.
“the longest-standing position in our portfolio is Meta, which we first bought in 15”
Pat Dorsey: The Nuances of Investing in Moats (Capital Allocators, EP.509)
2022-04-09
DIS
bullish
Pat Dorsey · video
Disney's streaming pivot to DTC (Disney+/Hulu) creates monopoly-like pricing power via Marvel/Star Wars exclusivity while incremental subscriber economics improve dramatically at scale, and the market underprices eventual DTC margins because no comparable…
“if disney plus is the only place you can watch marvel or star wars — that sounds like a monopoly”
90d -26.6% · 180d -23.4% · 1y -22.8%
Pat Dorsey on his investment in Walt Disney (DIS)
2022-03-13
WK
bullish
Pat Dorsey · video
Workiva's real-time collaborative SEC filing platform created extreme customer lock-in—users said they would refuse to work for firms not using it—and expanded into adjacent compliance markets further than expected, making the early sale a mistake
“i would not work for a company that did not use this software”
90d -33.4% · 180d -23.2% · 1y -8.0%
Pat Dorsey | Moats 2.0 - Looking Forward, Not Backward | #VIP 2021
2017-06-19
HWDN
owns
Pat Dorsey · video
Howden Joinery owns a durable moat by deeply solving builder logistics problems, and management strategy is explicitly centered on widening that competitive advantage rather than chasing unrelated growth
“Howen joinery a small company in the UK that we own solve the Builder problems”
Pat Dorsey presents at the 14th Annual Value Investor Conference in Omaha, NE.
2017-06-19
PG
bearish
Pat Dorsey · video
P&G's low-search-cost brands like Tide rest on marketing spend rather than social consensus, making them structurally vulnerable to challenger brands (Dollar Shave, Chobani) that can now reach mass audiences via YouTube and Facebook at a fraction of legacy…
“their next 10 years are going to be tough for them”
Pat Dorsey presents at the 14th Annual Value Investor Conference in Omaha, NE.
2015-04-07
SGX
bullish
Pat Dorsey · video
Silverlake Axis provides core banking software with extremely high switching costs in Southeast Asia, where roughly half the region's banks have not yet converted from legacy systems, giving a 2-3x larger addressable market than originally modeled
“half the banks in Southeast Asia haven't converted from legacy systems to new modern systems — it's there for the taking”
Pat Dorsey - Investment Strategies
2015-04-07
ROP
bullish
Pat Dorsey · video
Roper Technologies runs a serial-acquirer model with only 40 headquarters employees on a $14B market cap, has publicly guided to deploying $1-2B in acquisitions over the next two years, yet not one sell-side model bakes in those acquisitions despite a 15-year…
“I have seen not one sell-side report that bakes that into the valuation, even though the company is telling you they're going to do them”
Pat Dorsey - Investment Strategies
2015-01-16
CSE
bullish
Pat Dorsey · video
SimCorp's enterprise back-office software for large asset managers has extreme operating leverage — incremental growth above 5-6% drops through at 80-90% margin — and underperformance in the US market may be fixable, offering a path to significant margin…
“going from 5% to 10% you get a 80 to 90% drop through”
The Little Book that Builds Wealth | Pat Dorsey | Talks at Google
2015-01-16
ROP
owns
Pat Dorsey · video
Roper follows a capital allocator model — acquiring high-quality businesses and improving them via superior capital allocation — creating compounding intrinsic value over time, and is a current holding at Dorsey Asset Management
“like a Roper or PSG both businesses we do own which tend to own great businesses that they want to make even better”
The Little Book that Builds Wealth | Pat Dorsey | Talks at Google
2015-01-16
PSG
owns
Pat Dorsey · video
PSG is a South African capital allocator with exceptional management operating in a market where minimum efficient scale advantages limit competition, combining a favorable local market structure with compounding capital allocation
“Capital allocator business models uh like Brookfield asset management or onx in Toronto or rer or PSG in South Africa which we own”
The Little Book that Builds Wealth | Pat Dorsey | Talks at Google
2015-01-16
JSE
bullish
Pat Dorsey · video
Curro is a South African for-profit secondary education operator with a large school network, high profitability, and a long reinvestment runway as the SA education market grows, justifying a premium multiple
“has a huge dir of schools insanely profitable there you'd pay a lot because there's this massive Runway ahead of it”
The Little Book that Builds Wealth | Pat Dorsey | Talks at Google
Idea Scout Weekly
Every Sunday: who said what across the tape we track — 845 voices, 2,419 episodes and articles — with side-flips and points of disagreement called out. Free. How we track it.
Free · double opt-in · unsubscribe in one click