Dominion Portfolio Management

Michael L. Lasser serves as Chief Investment Officer and has been the sole architect of the firm's concentrated value strategy since founding in 1991. All portfolio decisions — position sizing, entry, exit — trace to his discretion. There is no investment committee structure evident in public filings.

No. The firm invests exclusively in publicly traded common stocks, per its 13F filings. It does not participate in private equity, venture capital, or direct lending. Its stated approach, however, applies private-equity-style analysis to public businesses — valuing them as whole enterprises and holding through multi-year periods.

Long-duration holdings concentrate in financial services (Bank of America, Berkshire Hathaway), real estate and land (Texas Pacific Land Corporation), and transportation infrastructure (Union Pacific). More recently, the portfolio has added select energy-transition names, though the core sector exposures remain unchanged.

Quarterly 13F disclosures typically show 10 to 20 individual equity positions, making it a meaningfully concentrated strategy. Top five holdings often represent more than 60% of the disclosed public equity portfolio, a posture that has been consistent across multiple decades.

Dominion is structured as a registered investment adviser (RIA) and manages outside client capital. However, its indefinite holding periods, zero-leverage balance sheet discipline, and founder-led decision-making make it operationally resemble a permanent-capital family office more than a traditional asset manager.