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Dorsal Capital Management, LP

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13F filer, CIK 1547007, Redwood City, CA

Dorsal Capital Management, LP reported $2,877,149,350 across 22 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 69.68% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-26-000862

Period
2025-12-31
Reported value
$2.88B
Holdings
22
Top 10 weight
69.68%
New
3
Sold out
5

Largest buys vs the previous quarter

SecurityShares changeApprox. value
TWLOnew+550,000$78.2M
FLUTadded+325,000$69.9M
PLNTadded+425,000$46.1M
MSFTadded+95,000$45.9M
Zadded+243,750$16.6M

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
USFDexited-2,525,000-$193M
AMZNexited-850,000-$187M
DTexited-2,000,000-$96.9M
BURLreduced-325,000-$93.9M
QRVOexited-1,000,000-$91.1M

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, Q4 2025

Share positions as resolved from 13F-HR 0001172661-26-000862, largest first. % of portfolio is the value over $2,845,321,350, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
PLNTPLANET FITNESS MASTER ISSUERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,750,000 shares 2,750,000$298M10.48%+425,000Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 925,000 shares 925,000$281M9.88%0Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 425,000 shares; 2024Q4: 495,000 shares; 2025Q1: 435,000 shares; 2025Q2: 500,000 shares; 2025Q3: 445,000 shares; 2025Q4: 540,000 shares 540,000$261M9.18%+95,000Timeline
ZZILLOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,925,000 shares 2,925,000$200M7.01%+243,750Timeline
HDHOME DEPOT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 350,000 shares; 2024Q4: 325,000 shares; 2025Q1: 400,000 shares; 2025Q2: 525,000 shares; 2025Q3: 475,000 shares; 2025Q4: 500,000 shares 500,000$172M6.05%+25,000Timeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 7,250,000 shares 7,250,000$171M6.01%+250,000Timeline
WIXWIX COM LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,550,000 shares 1,550,000$161M5.66%-25,000Timeline
FLUTFLUTTER ENTMT PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 725,000 shares; 2024Q4: 525,000 shares; 2025Q1: 450,000 shares; 2025Q2: 525,000 shares; 2025Q3: 400,000 shares; 2025Q4: 725,000 shares 725,000$156M5.48%+325,000Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 285,000 shares; 2025Q1: 275,000 shares; 2025Q2: 230,000 shares; 2025Q3: 240,000 shares; 2025Q4: 220,000 shares 220,000$145M5.1%-20,000Timeline
BURLBURLINGTON STORES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 515,000 shares; 2025Q1: 700,000 shares; 2025Q2: 750,000 shares; 2025Q3: 800,000 shares; 2025Q4: 475,000 shares 475,000$137M4.82%-325,000Timeline
SESEA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,075,000 shares 1,075,000$137M4.82%-550,000Timeline
ADSKAUTODESK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 300,000 shares; 2025Q1: 425,000 shares; 2025Q2: 425,000 shares; 2025Q3: 450,000 shares; 2025Q4: 400,000 shares 400,000$118M4.16%-50,000Timeline
SNSHARKNINJA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 164,494 shares; 2025Q1: 850,000 shares; 2025Q2: 850,000 shares; 2025Q3: 975,000 shares; 2025Q4: 1,000,000 shares 1,000,000$112M3.93%+25,000Timeline
FWONKLIBERTY MEDIA CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,125,000 shares 1,125,000$111M3.89%0Timeline
NTNXNUTANIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 900,000 shares; 2025Q2: 900,000 shares; 2025Q3: 1,350,000 shares; 2025Q4: 1,600,000 shares 1,600,000$82.7M2.91%+250,000Timeline
TWLOTWILIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 550,000 shares 550,000$78.2M2.75%newTimeline
APPAPPLOVIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 180,000 shares; 2025Q2: 100,000 shares; 2025Q3: 90,000 shares; 2025Q4: 100,000 shares 100,000$67.4M2.37%+10,000Timeline
NXSTNEXSTAR MEDIA GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 375,000 shares; 2025Q4: 325,000 shares 325,000$66M2.32%-50,000Timeline
MNDYMONDAY COM LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 375,000 shares; 2025Q2: 375,000 shares; 2025Q3: 425,000 shares; 2025Q4: 425,000 shares 425,000$62.7M2.2%0Timeline
AAPADVANCE AUTO PARTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 750,000 shares; 2024Q4: 585,000 shares; 2025Q1: 600,000 shares; 2025Q2: 700,000 shares; 2025Q3: 700,000 shares; 2025Q4: 700,000 shares 700,000$27.5M0.97%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
CALMCAL MAINE FOODS INC Stockcall300,000$23.9Mnew
CALMCAL MAINE FOODS INC Stockput100,000$7.96Mnew

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
USFDUS FOODS HLDG CORP2,525,000$193Mshares
AMZNAMAZON COM INC850,000$187Mshares
DTDYNATRACE INC2,000,000$96.9Mshares
QRVOQORVO INC1,000,000$91.1Mshares
INODINNODATA INC600,000$46.2Mput

How Q4 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 0001172661-26-000862 base2026-02-17acceptance time not in the bulk data set