Patient Capital Management Portfolio holdings
Patient Capital Management is an independent asset management firm that carries on the value approach of Bill Miller, a former Legg Mason fund manager. Samantha McLemore, its chief investment officer, founded it in 2020 after 20 years working with him. The firm picks securities it believes trade below their intrinsic value and builds concentrated portfolios, with freedom to invest across styles, security types, industries and sectors. It manages a mutual fund, institutional accounts and money for high net worth individuals, along with private funds for sophisticated investors.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Global Payments
GPN
|
+$64.9M |
| 2 |
Fidelity Wise Origin Bitcoin Fund
FBTC
|
+$54M |
| 3 |
Chime Financial
CHYM
|
+$23.3M |
| 4 |
Adobe
ADBE
|
+$15.1M |
| 5 |
Amazon
AMZN
|
+$6.68M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Noble Corp
NE
|
+$59.7M |
| 2 |
iShares Bitcoin Trust
IBIT
|
+$42.3M |
| 3 |
Illumina
ILMN
|
+$29.2M |
| 4 |
Biogen
BIIB
|
+$18.4M |
| 5 |
UBS Group
UBS
|
+$13.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 25.09% |
| 2 | Consumer Discretionary | 16.85% |
| 3 | Communication Services | 13.22% |
| 4 | Financials | 12.81% |
| 5 | Technology | 11.36% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Royalty Pharma
RPRX
$30.6B
| $202M | 6.61% |
3,598,808
-44,908
| -1% | -$2.34M |
2023 Q4
10 quarters
|
|
2
Citigroup
C
$202B
| $196M | 6.44% |
1,403,477
-10,393
| -0.7% | -$1.35M |
2022 Q1
17 quarters
|
|
3
Alphabet (Google) Class A
GOOGL
$3.54T
| $188M | 6.16% |
525,750
-8,243
| -2% | -$2.97M |
2021 Q4
18 quarters
|
|
4
UnitedHealth
UNH
$356B
| $182M | 5.96% |
437,773
+632
| +0.1% | +$234K |
2025 Q2
4 quarters
|
|
|
5
Amazon
AMZN
$2.89T
| $162M | 5.32% |
681,047
+26,628
| +4% | +$6.68M |
2021 Q4
18 quarters
|
|
6
NVIDIA
NVDA
$4.31T
| $142M | 4.65% |
709,587
-1,528
| -0.2% | -$314K |
2024 Q1
9 quarters
|
|
7
CVS Health
CVS
$109B
| $128M | 4.19% |
1,235,505
-121,654
| -9% | -$10.9M |
2023 Q3
11 quarters
|
|
8
Norwegian Cruise Line
NCLH
$8.46B
| $127M | 4.17% |
6,029,642
+280,002
| +5% | +$5.22M |
2021 Q4
18 quarters
|
|
9
QXO Inc
QXO
$14.3B
| $123M | 4.04% |
7,136,669
+358,280
| +5% | +$6.67M |
2024 Q3
7 quarters
|
|
10
Energy Transfer Partners
ET
$65.7B
| $116M | 3.81% |
6,080,678
-7,525
| -0.1% | -$146K |
2021 Q4
18 quarters
|
|
11
People Inc
PPLI
$3.26B
| $112M | 3.67% |
2,425,558
-274,006
| -10% | -$11.7M |
2023 Q2
12 quarters
|
|
12
Precigen
PGEN
$1.7B
| $109M | 3.56% |
19,036,976
+1,219,589
| +7% | +$5.27M |
2021 Q4
18 quarters
|
|
13
United Airlines
UAL
$39.1B
| $99.5M | 3.26% |
731,523
-497
| -0.1% | -$51.5K |
2022 Q2
16 quarters
|
|
14
Crocs
CROX
$7.33B
| $96.4M | 3.16% |
799,426
-43,416
| -5% | -$4.74M |
2023 Q4
10 quarters
|
|
15
Meta Platforms (Facebook)
META
$1.64T
| $96.2M | 3.15% |
170,790
-296
| -0.2% | -$181K |
2021 Q4
18 quarters
|
|
|
16
Chime Financial
CHYM
$12.5B
| $83.6M | 2.74% |
4,082,489
+1,200,473
| +42% | +$23.3M |
2025 Q4
2 quarters
|
|
|
17
Adobe
ADBE
$92.4B
| $74M | 2.43% |
361,126
+63,847
| +21% | +$15.1M |
2026 Q1
1 quarter
|
|
18
Seadrill
SDRL
$2.62B
| $73.9M | 2.42% |
1,953,355
-199,330
| -9% | -$9.28M |
2023 Q4
10 quarters
|
|
|
19
Global Payments
GPN
$25.9B
| $68.4M | 2.24% |
+942,310
| New | +$64.9M |
2026 Q2
0 quarters
|
|
20
Coinbase
COIN
$36B
| $67.5M | 2.21% |
462,016
+31,611
| +7% | +$5.71M |
2022 Q1
17 quarters
|
|
|
21
Fidelity Wise Origin Bitcoin Fund
FBTC
$13.9B
| $62.2M | 2.04% |
1,217,595
+863,764
| +244% | +$54M |
2024 Q1
9 quarters
|
|
|
22
Biogen
BIIB
$37.7B
| $61.3M | 2.01% |
283,697
-96,044
| -25% | -$18.4M |
2024 Q1
9 quarters
|
|
|
23
Illumina
ILMN
$33.4B
| $60.7M | 1.99% |
345,314
-199,466
| -37% | -$29.2M |
2023 Q4
10 quarters
|
|
24
General Motors
GM
$76.1B
| $48.7M | 1.6% |
631,558
-113,072
| -15% | -$8.88M |
2021 Q4
18 quarters
|
|
|
25
UBS Group
UBS
$148B
| $47.3M | 1.55% |
953,734
-288,221
| -23% | -$13.1M |
2023 Q1
13 quarters
|
|
Similar funds
Patient Capital Management's Q2 2026 Portfolio in Review
As of Q2 2026, Patient Capital Management held 42 positions worth $3.05B, up 12% from $2.74B the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Patient Capital Management's Q2 2026 filing shows 2 new, 12 increased, 24 reduced and 2 closed positions. Its largest new stake was Global Payments: 942,310 shares worth $68.4M. The largest sale was Noble Corp, an estimated $59.7M.
By sector, the portfolio is most concentrated in Healthcare at 25% of assets, up from 23% a quarter earlier, followed by Consumer Discretionary and Communication Services.
- Patient Capital Management's largest Q2 2026 buy was Global Payments: 942,310 shares worth $68.4M.
- Patient Capital Management added most to Fidelity Wise Origin Bitcoin Fund in Q2 2026, an estimated $54M increase.
- Patient Capital Management's biggest Q2 2026 reduction was Noble Corp, cutting an estimated $59.7M.
- Patient Capital Management fully exited iShares Bitcoin Trust in Q2 2026, selling an estimated $42.3M.
- Patient Capital Management's ten largest holdings make up 51% of its $3.05B portfolio in Q2 2026.
- Patient Capital Management opened 2 new positions and closed 2 in Q2 2026.
- Patient Capital Management's portfolio value rose 12% quarter-over-quarter to $3.05B.
Based on Patient Capital Management's 13F filing for Q2 2026, filed 13 Aug 2026.