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Dorsal Capital Management, LP

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13F filer, CIK 1547007, Redwood City, CA

Dorsal Capital Management, LP reported $3,746,173,113 across 24 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 62.76% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-004849

Period
2025-09-30
Reported value
$3.75B
Holdings
24
Top 10 weight
62.76%
New
2
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
WIXadded+525,000$93.3M
NXSTnew+375,000$74.2M
QRVOadded+595,000$54.2M
NTNXadded+450,000$33.5M
Zadded+231,250$17.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
AMZNreduced-325,000-$71.4M
TSMreduced-150,000-$41.9M
SEreduced-225,000-$40.2M
FLUTreduced-125,000-$31.8M
MSFTreduced-55,000-$28.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001172661-25-004849, largest first. % of portfolio is the value over $3,699,931,113, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SESEA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,000,000 shares; 2024Q4: 1,425,000 shares; 2025Q1: 1,500,000 shares; 2025Q2: 1,850,000 shares; 2025Q3: 1,625,000 shares 1,625,000$290M7.85%-225,000Timeline
WIXWIX COM LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,400,000 shares; 2024Q4: 1,425,000 shares; 2025Q1: 1,450,000 shares; 2025Q2: 1,050,000 shares; 2025Q3: 1,575,000 shares 1,575,000$280M7.56%+525,000Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 450,000 shares; 2025Q1: 1,000,000 shares; 2025Q2: 1,075,000 shares; 2025Q3: 925,000 shares 925,000$258M6.98%-150,000Timeline
PLNTPLANET FITNESS MASTER ISSUERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,950,000 shares; 2024Q4: 2,000,000 shares; 2025Q1: 2,300,000 shares; 2025Q2: 2,475,000 shares; 2025Q3: 2,325,000 shares 2,325,000$241M6.52%-150,000Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 425,000 shares; 2024Q4: 495,000 shares; 2025Q1: 435,000 shares; 2025Q2: 500,000 shares; 2025Q3: 445,000 shares 445,000$230M6.23%-55,000Timeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,200,000 shares; 2024Q4: 7,250,000 shares; 2025Q1: 7,000,000 shares; 2025Q2: 7,300,000 shares; 2025Q3: 7,000,000 shares 7,000,000$225M6.09%-300,000Timeline
ZZILLOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,200,000 shares; 2024Q4: 3,350,000 shares; 2025Q1: 3,050,000 shares; 2025Q2: 2,450,000 shares; 2025Q3: 2,681,250 shares 2,681,250$207M5.58%+231,250Timeline
BURLBURLINGTON STORES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 515,000 shares; 2025Q1: 700,000 shares; 2025Q2: 750,000 shares; 2025Q3: 800,000 shares 800,000$204M5.5%+50,000Timeline
USFDUS FOODS HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,500,000 shares; 2024Q4: 3,500,000 shares; 2025Q1: 2,875,000 shares; 2025Q2: 2,750,000 shares; 2025Q3: 2,525,000 shares 2,525,000$193M5.23%-225,000Timeline
HDHOME DEPOT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 350,000 shares; 2024Q4: 325,000 shares; 2025Q1: 400,000 shares; 2025Q2: 525,000 shares; 2025Q3: 475,000 shares 475,000$192M5.2%-50,000Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,975,000 shares; 2024Q4: 1,775,000 shares; 2025Q1: 1,600,000 shares; 2025Q2: 1,175,000 shares; 2025Q3: 850,000 shares 850,000$187M5.04%-325,000Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 285,000 shares; 2025Q1: 275,000 shares; 2025Q2: 230,000 shares; 2025Q3: 240,000 shares 240,000$176M4.76%+10,000Timeline
ADSKAUTODESK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 300,000 shares; 2025Q1: 425,000 shares; 2025Q2: 425,000 shares; 2025Q3: 450,000 shares 450,000$143M3.86%+25,000Timeline
FWONKLIBERTY MEDIA CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 900,000 shares; 2024Q4: 1,100,000 shares; 2025Q1: 1,100,000 shares; 2025Q2: 1,100,000 shares; 2025Q3: 1,125,000 shares 1,125,000$118M3.18%+25,000Timeline
FLUTFLUTTER ENTMT PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 725,000 shares; 2024Q4: 525,000 shares; 2025Q1: 450,000 shares; 2025Q2: 525,000 shares; 2025Q3: 400,000 shares 400,000$102M2.75%-125,000Timeline
SNSHARKNINJA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 164,494 shares; 2025Q1: 850,000 shares; 2025Q2: 850,000 shares; 2025Q3: 975,000 shares 975,000$101M2.72%+125,000Timeline
NTNXNUTANIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 900,000 shares; 2025Q2: 900,000 shares; 2025Q3: 1,350,000 shares 1,350,000$100M2.71%+450,000Timeline
DTDYNATRACE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,200,000 shares; 2024Q4: 2,250,000 shares; 2025Q1: 2,150,000 shares; 2025Q2: 2,150,000 shares; 2025Q3: 2,000,000 shares 2,000,000$96.9M2.62%-150,000Timeline
QRVOQORVO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 405,000 shares; 2025Q3: 1,000,000 shares 1,000,000$91.1M2.46%+595,000Timeline
MNDYMONDAY COM LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 375,000 shares; 2025Q2: 375,000 shares; 2025Q3: 425,000 shares 425,000$82.3M2.22%+50,000Timeline
NXSTNEXSTAR MEDIA GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 375,000 shares 375,000$74.2M2%newTimeline
APPAPPLOVIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 180,000 shares; 2025Q2: 100,000 shares; 2025Q3: 90,000 shares 90,000$64.7M1.75%-10,000Timeline
AAPADVANCE AUTO PARTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 750,000 shares; 2024Q4: 585,000 shares; 2025Q1: 600,000 shares; 2025Q2: 700,000 shares; 2025Q3: 700,000 shares 700,000$43M1.16%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
INODINNODATA INC COM NEWput600,000$46.2Mnew

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
SESEA LTD1,000,000$160Mcall
PLTRPALANTIR TECHNOLOGIES INC400,000$54.5Mput
UBERUBER TECHNOLOGIES INC250,000$23.3Mput
HNGEHINGE HEALTH INC70,000$3.62Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-25-004849 base2025-11-14acceptance time not in the bulk data set