Pat Dorsey - Dorsey Asset Management Investment Strategy & Portfolio Analysis

According to the SEC 13F filed on Aug 14, 2026, Pat Dorsey's Dorsey Asset Management portfolio reflects a concentrated approach across 10 reported 13F positions as of quarter-end Jun 30, 2026. Portfolio returns are primarily driven by a small set of high-conviction positions such as ASML, Applovin, and Royalty Pharma, with the top five holdings accounting for approximately 60% of total exposure and ASML alone contributing ~18%. While the portfolio includes 10 positions, economic outcomes are highly concentrated in a narrow set of large-cap technology and growth-oriented names. Exposure to high-growth and technology-oriented segments is elevated relative to peers, with performance anchored in growth-oriented names across unknown, technology, and communication services. The portfolio exhibits extremely low turnover, reinforcing a patient, conviction-led investment approach. Distinctive traits include Long-Term Holder, Moderately Concentrated, Economically Concentrated.