Nasdaq Dorsey Wright

The firm was co-founded by Thomas J. Dorsey and M. Scott Wright, who continue to lead the development of its research methodology. Day-to-day operations are managed by a small team of quantitative analysts based in Richmond. The firm does not have a traditional CIO or portfolio manager because it does not manage discretionary capital.

Nasdaq Dorsey Wright does not engage in proprietary deal flow or direct investing. Its business is the creation and licensing of quantitative research and indexes. The firm's relative-strength models analyze publicly traded securities globally, generating rankings that advisors and institutions use for their own portfolio decisions.

The firm does not participate in fund commitments or direct deals. Its revenue comes from subscription fees for its research platform and licensing fees for its indexes. This passive, subscription-based model allows it to remain neutral in the asset management landscape.

The firm's methodology is agnostic to stage — it ranks securities based on trailing relative-strength metrics, which can be applied to any liquid asset class. Its indexes have historically focused on US large-cap equities, but the platform covers international equities and ETFs. The focus is on momentum factors, not stage or lifecycle.

Nasdaq acquired Dorsey Wright & Associates in 2016 for an undisclosed sum, rebranding it as Nasdaq Dorsey Wright. Since then, the firm has been integrated into Nasdaq's index division. The Richmond office operates semi-autonomously, maintaining the Dorsey Wright brand and methodology.