Pat Dorsey runs Dorsey Asset Management, LLC. Moat-focused, concentrated (~10 stocks), long-term. Every position is a deep conviction on durable competitive advantage. As of the Q2 2026 13F filing, the disclosed long-equity portfolio is valued at $1.6B across 11 positions. The largest holdings are ASML HLDG NV, APPLOVIN CORP, and ROYALTY PHARMA PLC (ASML HLDG NV alone is 16.6% of the book).

Pat Dorsey runs Dorsey Asset Management, LLC. Moat-focused, concentrated (~10 stocks), long-term. Every position is a deep conviction on durable competitive advantage. As of the Q2 2026 13F filing, the disclosed long-equity portfolio is valued at $1.6B across 11 positions. The largest holdings are ASML HLDG NV, APPLOVIN CORP, and ROYALTY PHARMA PLC (ASML HLDG NV alone is 16.6% of the book).