Patient Capital Management, LLC
Long book
$2.68B
Q1 2026
Positions
38
Top-10 weight
50%
concentration
Last quarter
+16.0%
SPY +14.8%
Turnover
14%
of book per quarter
Strategy in plain words
auto-generated from filingsPatient Capital Management, LLC is a diversified fundamental manager, running a $2.68B US long book across 38 positions.
The portfolio is moderately concentrated (top 10 ≈ 50% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: ROYALTY PHARMA PLC- CL A, CITIGROUP INC, ALPHABET INC-CL A, AMAZON.COM INC, QXO INC.
Over the last 9 quarters its long book ran on average 0.5pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-1.3%
Q2 2024
+3.5%
Q3 2024
+9.2%
Q4 2024
-9.0%
Q1 2025
+15.5%
Q2 2025
+10.5%
Q3 2025
+5.8%
Q4 2025
-5.3%
Q1 2026
+16.0%
Sector allocation
Technology 22%
Financials 20%
Healthcare 19%
Industrials 12%
Consumer discretionary 11%
Energy 6%
Utilities 5%
Other 3%
Long book by quarter
What does Patient Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| RPRX ROYALTY PHARMA PLC- CL A | Healthcare | 3.6M | $174.8M | 6.5% | +9.3% |
| C CITIGROUP INC | Financials | 1.4M | $160.3M | 6.0% | +9.5% |
| GOOGL ALPHABET INC-CL A | Technology | 534.0K | $153.6M | 5.7% | -8.2% |
| AMZN AMAZON.COM INC | Consumer discretionary | 654.4K | $136.3M | 5.1% | +16.3% |
| QXO QXO INC | Consumer discretionary | 6.8M | $131.6M | 4.9% | +4.8% |
| NVDA NVIDIA CORP | Technology | 711.1K | $124.0M | 4.6% | +11.3% |
| UNH UNITEDHEALTH GROUP INC | Financials | 437.1K | $118.3M | 4.4% | +18.7% |
| ET ENERGY TRANSFER LP | Utilities | 6.1M | $117.5M | 4.4% | +15.5% |
| PPLI PEOPLE INC | Technology | 2.7M | $108.1M | 4.0% | +13.7% |
| NCLH NORWEGIAN CRUISE LINE HOLDIN | Industrials | 5.7M | $107.5M | 4.0% | +8.3% |
| SDRL SEADRILL LIMITED | Energy | 2.2M | $97.9M | 3.7% | +4.8% |
| META META PLATFORMS INC-CLASS A | Technology | 171.1K | $97.9M | 3.6% | +19.6% |
| CVS CVS HEALTH CORP | Healthcare | 1.4M | $97.5M | 3.6% | +10.2% |
| COIN COINBASE GLOBAL INC -CLASS A | Financials | 430.4K | $75.2M | 2.8% | +140.6% |
| ADBE ADOBE INC | Technology | 297.3K | $72.3M | 2.7% | New |
| CROX CROCS INC | Other | 842.8K | $70.0M | 2.6% | +11.1% |
| BIIB BIOGEN INC | Healthcare | 379.7K | $69.6M | 2.6% | -34.1% |
| PGEN PRECIGEN INC | Healthcare | 17.8M | $69.0M | 2.6% | -4.6% |
| UAL UNITED AIRLINES HOLDINGS INC | Industrials | 732.0K | $67.4M | 2.5% | +11.9% |
| ILMN ILLUMINA INC | Healthcare | 544.8K | $67.1M | 2.5% | -5.4% |
| NE NOBLE CORP PLC | Energy | 1.3M | $66.1M | 2.5% | +5.2% |
| GM GENERAL MOTORS CO | Industrials | 744.6K | $55.5M | 2.1% | -3.5% |
| FISV FISERV INC | Services media | 968.2K | $54.0M | 2.0% | +273.6% |
| CHYM CHIME FINANCIAL INC-CL A | Financials | 2.9M | $54.0M | 2.0% | +41.6% |
| UBS UBS GROUP AG-REG | Financials | 1.2M | $48.5M | 1.8% | +4.6% |
| OMF ONEMAIN HOLDINGS INC | Financials | 781.4K | $41.8M | 1.6% | -5.3% |
| EXPE EXPEDIA GROUP INC | Industrials | 167.8K | $38.7M | 1.4% | -4.8% |
| DAL DELTA AIR LINES INC | Industrials | 552.5K | $36.7M | 1.4% | -18.8% |
| SOFI SOFI TECHNOLOGIES INC | Financials | 1.3M | $21.1M | 0.8% | +10.7% |
| TEM TEMPUS AI INC-CL A | Technology | 442.2K | $20.0M | 0.7% | +15.7% |
| PLAY DAVE & BUSTER'S ENTERTAINMEN | Consumer discretionary | 1.2M | $12.5M | 0.5% | -30.8% |
| JPM JPMORGAN CHASE & CO | Financials | 29.4K | $8.6M | 0.3% | -0.1% |
| APA APA CORP | Energy | 50.0K | $2.1M | 0.1% | Held |
| LEN/B LENNAR CORP - B SHS | Industrials | 12.5K | $1.1M | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 40 | $2.74B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 40 | $2.59B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 30, 2025 | 41 | $2.50B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 40 | $2.22B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 39 | $1.94B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 43 | $2.17B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 41 | $2.04B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 40 | $1.88B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 42 | $2.05B | canonical | SEC ↗ |
Similar funds
DIAMANT ASSET MANAGEMENT, INC. LILLY ENDOWMENT INCBROOKFIELD Corp /ON/GQG Partners LLCMITSUBISHI UFJ FINANCIAL GROUP INCNewport Trust Company, LLCVIKING GLOBAL INVESTORS LPPARNASSUS INVESTMENTS, LLC MASTERCARD FOUNDATION ASSET MANAGEMENT CORPPZENA INVESTMENT MANAGEMENT LLCCOATUE MANAGEMENT LLCWinslow Capital Management, LLC