# Dorsey Asset Management

> Dorsey Asset Management is an SEC-registered investment advisory firm in Chicago, IL, registered since 2015, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 24, 2026.

- CRD: 169056
- Filed as: DORSEY ASSET MANAGEMENT
- Legal name: Dorsey Asset Management LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: March 24, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/169056
- AdvisorCensus page: https://advisorcensus.com/firm/dorsey-asset-management-chicago-il-169056

## Quick answers

**How is Dorsey Asset Management compensated?**
On its Form ADV (Item 5.E, October 2026), Dorsey Asset Management reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Dorsey Asset Management located?**
Dorsey Asset Management's principal office is in Chicago, IL, according to its Form ADV.

**Is Dorsey Asset Management registered with the SEC or a state?**
Dorsey Asset Management is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 169056.

**How much does Dorsey Asset Management manage?**
Dorsey Asset Management reports $1,445,270,658 in regulatory assets under management in its Form ADV filing dated March 24, 2026 (100% discretionary).

**How have Dorsey Asset Management's assets and staff changed since 2021?**
In the Form ADV data for Dorsey Asset Management: Regulatory assets under management: $1,324,758,362 in the October 2021 data and $1,445,270,658 in the October 2026 data, up 9%. Total employees: 6 in October 2021 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Dorsey Asset Management serve?**
By number of clients on Form ADV Item 5.D: charitable organizations (5); pooled investment vehicles (other than investment companies and business development companies) (3); high net worth individuals (1).

**Which custodians does Dorsey Asset Management use?**
Dorsey Asset Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNY Mellon Capital Markets, LLC and Northern Trust Securities, Inc. as custodians holding 10% or more of its separately managed account assets.

**Does Dorsey Asset Management report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/169056

**What changed in Dorsey Asset Management's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 6 to 8. Regulatory assets under management went from $1,290,328,450 to $1,445,270,658 (+12%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Custodians (Schedule D, Section 5.K(3))
- BNY Mellon Capital Markets, LLC
- Northern Trust Securities, Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $1,445,270,658
- Discretionary: $1,445,270,658
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 1 | $15,134,530 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 3 | $860,894,458 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 5 | $569,241,670 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2015 (11 years)
- Employees: 10 total, 8 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: IL
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- dorseyasset.com
- LinkedIn @dorsey-asset-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,324,758,362 | 6 | March 24, 2021 |
| October 2022 | $1,296,956,538 | 5 | March 23, 2022 |
| October 2023 | $1,002,526,945 | 7 | March 29, 2023 |
| October 2024 | $1,113,609,480 | 7 | March 22, 2024 |
| October 2025 | $1,290,328,450 | 8 | March 28, 2025 |
| October 2026 | $1,445,270,658 | 10 | March 24, 2026 |

Regulatory assets under management: $1,324,758,362 in the October 2021 data and $1,445,270,658 in the October 2026 data, up 9%.
Total employees: 6 in October 2021 and 10 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 6 to 8.
- Regulatory assets under management went from $1,290,328,450 to $1,445,270,658 (+12%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Dorsey Asset Management (CRD 169056): Form ADV filing data as of October 2026.