Patient Capital Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Patient Capital Management, LLC reported 39 stock positions worth $1.9 billion. Its top holding was Amazon.com (AMZN) at 5.6% of the portfolio, followed by Citigroup (C, 5.1%) and Qxo (QXO, 5.1%). Compared with Q4 2024, it opened 3 new positions, sold out of 7, added to 16 and reduced 17. The biggest buy was CVS Health (CVS, shares +2%) and the biggest sale Expedia (EXPE, shares −37%).
- Most Recent 13F
- Q2 2026
- Location
- BALTIMORE, MD
- CIK
- 0001854794
- Portfolio Value
- $1.9B (Q1 2025)
- SEC Filing
- 0001085146-25-003124 ↗ filed May 14, 2025
Holdings Value
Holdings 39 stocks · $1.9B
| AMZN Amazon.com Inc. | 5.62% | 574,016 | $109.2M | Reduce -5.9% |
| C Citigroup Inc. | 5.13% | 1,405,065 | $99.7M | Reduce -8.8% |
| QXO Qxo Inc. | 5.07% | 7,284,827 | $98.6M | Reduce -5.8% |
| GOOGL Alphabet Inc. Class A | 4.82% | 605,692 | $93.7M | Add +1.7% |
| RPRX Royalty Pharma PLC Class A | 4.76% | 2,972,646 | $92.5M | Add +3.4% |
| ET Energy Transfer LP | 4.67% | 4,883,763 | $90.8M | Reduce -4.1% |
| CVS CVS Health Corp. | 4.62% | 1,325,638 | $89.8M | Add +2.1% |
| META Meta Platforms Inc. Class A | 4.32% | 145,666 | $84.0M | Reduce -1.3% |
| PPLI People Inc. filed as IAC INC | 3.98% | 1,684,663 | $77.4M | Add +1.0% |
| GM General Motors Co. | 3.69% | 1,526,763 | $71.8M | Reduce -0.3% |
| BABA Alibaba Group Holding-SP ADR | 3.63% | 534,089 | $70.6M | Reduce -22.6% |
| NCLH Norwegian Cruise Line Holdin | 3.50% | 3,590,093 | $68.1M | Add +44.5% |
| NVDA Nvidia Corp. | 3.49% | 626,952 | $67.9M | Add +3.0% |
| UBS UBS Group AG-Reg | 3.22% | 2,043,053 | $62.6M | Add +0.0% |
| BIIB Biogen Inc. | 3.21% | 455,605 | $62.3M | Add +10.1% |
| CROX Crocs Inc. | 2.79% | 511,399 | $54.3M | Add +14.9% |
| OMF Onemain Holdings Inc. | 2.70% | 1,072,493 | $52.4M | Reduce -15.1% |
| SDRL Seadrill Limited | 2.54% | 1,972,713 | $49.3M | Add +17.6% |
| EXPE Expedia Group Inc. | 2.41% | 278,797 | $46.9M | Reduce -37.0% |
| UAL United Airlines Holdings Inc. | 2.38% | 670,624 | $46.3M | Reduce -7.5% |
| MAT Mattel Inc. | 2.31% | 2,311,654 | $44.9M | Reduce -8.7% |
| FBTC Fidelity Wise Origin Bitcoin | 2.30% | 620,226 | $44.6M | Add +103.0% |
| SOFI Sofi Technologies Inc. | 2.11% | 3,534,865 | $41.1M | Reduce -16.9% |
| KOS Kosmos Energy Ltd. | 2.11% | 18,004,787 | $41.1M | Add +5.0% |
| PLAY Dave & Buster's Entertainmen | 1.99% | 2,201,507 | $38.7M | Add +23.9% |
| ILMN Illumina Inc. | 1.87% | 458,669 | $36.4M | Add +11.9% |
| COIN Coinbase Global Inc. Class A | 1.80% | 203,672 | $35.1M | Add +0.1% |
| DAL Delta Air Lines Inc. | 1.72% | 768,268 | $33.5M | Reduce -18.9% |
| JD Jd.com Inc.-ADR | 1.66% | 785,920 | $32.3M | Add +685.9% |
| PGEN Precigen Inc. | 1.33% | 17,372,301 | $25.9M | Reduce -2.9% |
| GOOS Canada Goose Holdings Inc. | 1.11% | 2,705,025 | $21.5M | Reduce -29.8% |
| NFE New Fortress Energy Inc. | 1.06% | 2,482,800 | $20.6M | New |
| PTON Peloton Interactive Inc. Class A | 0.91% | 2,788,044 | $17.6M | Reduce -27.0% |
| CVNA Carvana Co. | 0.51% | 47,322 | $9.9M | New |
| JPM JPMorgan Chase & Co. | 0.37% | 29,383 | $7.2M | Reduce -0.0% |
| YOU Clear Secure Inc. Class A | 0.17% | 125,000 | $3.2M | New |
| LEN.B Lennar Corp. Class B | 0.07% | 12,500 | $1.4M | No change |
| APA Apa Corp. | 0.05% | 50,000 | $1.1M | No change |
| BRLT Brilliant Earth Group Inc. Class A | 0.01% | 100,000 | $158K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| EXPE Expedia Group Inc. | Reduce -37.0% | 2.41% | −1.39 |
| EXE Expand Energy Corp. | Sold out | 0.00% | −1.09 |
| DAL Delta Air Lines Inc. | Reduce -18.9% | 1.72% | −0.92 |
| SOFI Sofi Technologies Inc. | Reduce -16.9% | 2.11% | −0.91 |
| UAL United Airlines Holdings Inc. | Reduce -7.5% | 2.38% | −0.87 |
| GOOS Canada Goose Holdings Inc. | Reduce -29.8% | 1.11% | −0.68 |
| PTON Peloton Interactive Inc. Class A | Reduce -27.0% | 0.91% | −0.63 |
| QXO Qxo Inc. | Reduce -5.8% | 5.07% | −0.60 |
| AMZN Amazon.com Inc. | Reduce -5.9% | 5.62% | −0.56 |
| OMF Onemain Holdings Inc. | Reduce -15.1% | 2.70% | −0.34 |
| TNL Travel + Leisure Co. | Sold out | 0.00% | −0.27 |
| EVRI Everi Holdings Inc. | Sold out | 0.00% | −0.19 |
| WAL Western Alliance Bancorp | Sold out | 0.00% | −0.11 |
| TEVA Teva Pharmaceutical-SP ADR | Sold out | 0.00% | −0.10 |
| FISV Fiserv Inc. | Sold out | 0.00% | −0.10 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −0.09 |
| GM General Motors Co. | Reduce -0.3% | 3.69% | −0.07 |
| JPM JPMorgan Chase & Co. | Reduce -0.0% | 0.37% | +0.05 |
| ET Energy Transfer LP | Reduce -4.1% | 4.67% | +0.07 |
| C Citigroup Inc. | Reduce -8.8% | 5.13% | +0.12 |
| MAT Mattel Inc. | Reduce -8.7% | 2.31% | +0.24 |
| META Meta Platforms Inc. Class A | Reduce -1.3% | 4.32% | +0.33 |
| PGEN Precigen Inc. | Reduce -2.9% | 1.33% | +0.41 |
| BABA Alibaba Group Holding-SP ADR | Reduce -22.6% | 3.63% | +0.93 |
Portfolio Buys Q4 2024 → Q1 2025
| CVS CVS Health Corp. | Add +2.1% | 4.62% | +1.93 |
| JD Jd.com Inc.-ADR | Add +685.9% | 1.66% | +1.50 |
| RPRX Royalty Pharma PLC Class A | Add +3.4% | 4.76% | +1.37 |
| FBTC Fidelity Wise Origin Bitcoin | Add +103.0% | 2.30% | +1.15 |
| NFE New Fortress Energy Inc. | New | 1.06% | +1.06 |
| PPLI People Inc. | Add +1.0% | 3.98% | +0.66 |
| NCLH Norwegian Cruise Line Holdin | Add +44.5% | 3.50% | +0.55 |
| CROX Crocs Inc. | Add +14.9% | 2.79% | +0.54 |
| CVNA Carvana Co. | New | 0.51% | +0.51 |
| UBS UBS Group AG-Reg | Add +0.0% | 3.22% | +0.36 |
| BIIB Biogen Inc. | Add +10.1% | 3.21% | +0.29 |
| YOU Clear Secure Inc. Class A | New | 0.17% | +0.17 |
| NVDA Nvidia Corp. | Add +3.0% | 3.49% | −0.28 |
| GOOGL Alphabet Inc. Class A | Add +1.7% | 4.82% | −0.38 |
| PLAY Dave & Buster's Entertainmen | Add +23.9% | 1.99% | −0.40 |
| SDRL Seadrill Limited | Add +17.6% | 2.54% | −0.48 |
| COIN Coinbase Global Inc. Class A | Add +0.1% | 1.80% | −0.53 |
| KOS Kosmos Energy Ltd. | Add +5.0% | 2.11% | −0.59 |
| ILMN Illumina Inc. | Add +11.9% | 1.87% | −0.66 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 39 | $3.0B | RPRX, C, GOOGL, UNH, AMZN |
| Q1 2026 | 38 | $2.7B | RPRX, C, GOOGL, AMZN, QXO |
| Q4 2025 | 40 | $2.6B | GOOGL, C, AMZN, RPRX, QXO |
| Q3 2025 | 41 | $2.5B | GOOGL, C, UNH, QXO, AMZN |
| Q2 2025 | 40 | $2.2B | QXO, AMZN, C, GOOGL, RPRX |
| Q1 2025 | 39 | $1.9B | AMZN, C, QXO, GOOGL, RPRX |
| Q4 2024 | 43 | $2.2B | AMZN, QXO, GOOGL, C, ET |
| Q3 2024 | 41 | $2.0B | QXO, AMZN, GOOGL, C, EXPE |
| Q2 2024 | 40 | $1.9B | AMZN, GOOGL, C, EXPE, ET |
| Q1 2024 | 42 | $2.1B | AMZN, C, EXPE, OMF, DAL |