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Dorsey Asset Management LLC
Patrick W. Dorsey · Investment Advisor · Value
Dorsey Asset Management LLC is a Chicago-based investment firm founded in 2013 by Patrick Dorsey, the former Director of Equity Research at Morningstar. The firm manages a concentrated global equity strategy focused on high-quality companies with sustainable competitive advantages, often referred to as "economic moats." Dorsey emphasizes fundamental research to identify businesses that can reinvest capital at high incremental rates of return, maintaining a portfolio typically comprising 10 to 15 holdings. The institution serves a range of clients including private funds and separately managed accounts, applying a long-term investment horizon that seeks to compound capital at above-average rates while minimizing the risk of permanent capital loss.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +12.3% |
| YTD return | +6.2% |
| Sharpe ratio | 3.01 |
| Win rate | 36% |
| AUM | $1.5B |
| Inception | Oct 1, 2025 |
| Updated | Sep 21, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $1.5B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.dorseyasset.com |
Current Holdings
Updated on Sep 21, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| ASML | ASML Holding NV ADR | 14.7% | +66.6% |
| BKNG | Booking Holdings Inc | 10.2% | -18.1% |
| RPRX | Royalty Pharma Plc | 9.9% | +61.7% |
| APP | Applovin Corp | 9.4% | -30.6% |
| SPGI | S&P Global Inc | 9.3% | -4.1% |
| UBER | Uber Technologies Inc | 9.2% | -4.0% |
| DHR | Danaher Corporation | 8.9% | -0.4% |
| LYV | Live Nation Entertainment Inc | 7.8% | +1.2% |
| META | Meta Platforms Inc. | 7.6% | -4.5% |
| AER | AerCap Holdings NV | 7.4% | +15.6% |
| SUNB | Sunbelt Rentals Holdings, Inc. | 5.5% | -5.2% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 31, 2026 | SELL | LYV | 7.3% → 7.8% |
| Aug 31, 2026 | BUY | DHR | 7.3% → 8.9% |
| Aug 31, 2026 | SELL | AER | 11.4% → 7.4% |
| Aug 31, 2026 | SELL | SUNB | 12.5% → 5.5% |
| Aug 31, 2026 | BUY | APP | 11.3% → 9.4% |
Investment Style Analysis
Dorsey Asset Management LLC is widely recognized for employing a Value strategy. As of Sep 21, 2026, the firm oversees approximately $1.5B in assets under management (AUM). The portfolio demonstrates a clear preference for the Semiconductor Equipment & Materials and Rental & Leasing Services sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 31, Dorsey Asset Management LLC made a significant move by reducing the position in LYV. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
The firm's investment philosophy is centered on the concept of "economic moats"—durable competitive advantages such as high switching costs, network effects, or scale advantages that protect a company's profitability. Dorsey Asset Management seeks to invest in businesses that not only possess these moats but also have significant opportunities to reinvest capital at high incremental rates of return for extended periods. The strategy is characterized by high concentration, typically holding only 10 to 15 securities, and a global scope. The investment process is qualitative and research-intensive, focusing on capital allocation, business quality, and intrinsic value, while remaining geographically agnostic to find the best opportunities for long-term compounding.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Dorsey Asset Management LLC.
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Frequently asked questions
How is the simulated portfolio for Dorsey Asset Management LLC constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Dorsey Asset Management LLC's largest holding?
As of the latest filing, Dorsey Asset Management LLC's top position is ASML Holding NV ADR (ASML), representing 14.7% of the portfolio. This reflects a high-conviction bet by the institution.
What is Dorsey Asset Management LLC's historical performance and risk profile?
Our simulation indicates a total return of +12.3% with a win rate of 36%. Notably, the portfolio maintains a Sharpe Ratio of 3.01, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Dorsey Asset Management LLC primarily invest in?
Dorsey Asset Management LLC has a strong preference for the Semiconductor Equipment & Materials sector, which makes up 14.7% of their disclosed assets. The portfolio also has exposure to Rental & Leasing Services, indicating a specific thematic focus.
Is Dorsey Asset Management LLC's portfolio concentrated or diversified?
Dorsey Asset Management LLC runs a highly concentrated portfolio with 11 disclosed positions. The top 3 holdings alone account for 34.8% of the total portfolio weight, suggesting a strategy that favors deep research into a few key names.
How has Dorsey Asset Management LLC performed in 2026?
Our AI-simulated model portfolio for Dorsey Asset Management LLC tracks a Year-to-Date (YTD) return of +6.2%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Patrick W. Dorsey manage Dorsey Asset Management LLC directly?
Yes, Patrick W. Dorsey serves as the key portfolio manager for Dorsey Asset Management LLC, overseeing the investment strategy and final capital allocation decisions.