Patient Capital Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 30, 2025), Patient Capital Management, LLC reported 41 stock positions worth $2.5 billion. Its top holding was Alphabet Class A (GOOGL) at 6.0% of the portfolio, followed by Citigroup (C, 5.3%) and Unitedhealth (UNH, 5.1%). Compared with Q2 2025, it opened 2 new positions, sold out of 1, added to 13 and reduced 24. The biggest buy was Precigen (PGEN, shares +63%) and the biggest sale Qxo (QXO, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- BALTIMORE, MD
- CIK
- 0001854794
- Portfolio Value
- $2.5B (Q3 2025)
- SEC Filing
- 0001854794-25-000004 ↗ filed Oct 30, 2025
Holdings Value
Holdings 41 stocks · $2.5B
| GOOGL Alphabet Inc. Class A | 5.97% | 613,333 | $149.1M | Add +0.1% |
| C Citigroup Inc. | 5.32% | 1,310,407 | $133.0M | Reduce -2.6% |
| UNH Unitedhealth Group Inc. | 5.13% | 371,363 | $128.2M | Add +93.5% |
| QXO Qxo Inc. | 4.99% | 6,537,027 | $124.6M | Reduce -0.1% |
| AMZN Amazon.com Inc. | 4.94% | 561,976 | $123.4M | Reduce -0.3% |
| NVDA Nvidia Corp. | 4.73% | 632,684 | $118.0M | Reduce -0.2% |
| NCLH Norwegian Cruise Line Holdin | 4.50% | 4,564,871 | $112.4M | Reduce -3.0% |
| RPRX Royalty Pharma PLC Class A | 4.40% | 3,117,850 | $110.0M | Add +4.3% |
| META Meta Platforms Inc. Class A | 4.23% | 144,000 | $105.8M | Reduce -0.2% |
| CVS CVS Health Corp. | 3.74% | 1,239,894 | $93.5M | Reduce -0.2% |
| BABA Alibaba Group Holding-SP ADR | 3.50% | 489,677 | $87.5M | Reduce -1.9% |
| PGEN Precigen Inc. | 3.48% | 26,460,848 | $87.1M | Add +62.6% |
| ET Energy Transfer LP | 3.36% | 4,888,138 | $83.9M | Add +19.9% |
| PPLI People Inc. filed as IAC INC | 2.88% | 2,108,245 | $71.8M | Add +21.2% |
| SDRL Seadrill Limited | 2.70% | 2,229,936 | $67.4M | Add +0.0% |
| UAL United Airlines Holdings Inc. | 2.57% | 666,515 | $64.3M | Reduce -0.3% |
| FBTC Fidelity Wise Origin Bitcoin | 2.48% | 619,752 | $61.9M | Reduce -0.1% |
| UBS UBS Group AG-Reg | 2.46% | 1,500,849 | $61.5M | Reduce -22.5% |
| SOFI Sofi Technologies Inc. | 2.38% | 2,254,066 | $59.6M | Reduce -28.6% |
| COIN Coinbase Global Inc. Class A | 2.32% | 171,736 | $58.0M | Reduce -15.6% |
| GM General Motors Co. | 2.30% | 940,597 | $57.3M | Reduce -0.4% |
| BIIB Biogen Inc. | 2.22% | 396,649 | $55.6M | Add +23.8% |
| ILMN Illumina Inc. | 2.21% | 581,359 | $55.2M | Reduce -0.1% |
| EXPE Expedia Group Inc. | 2.17% | 253,477 | $54.2M | Reduce -3.2% |
| OMF Onemain Holdings Inc. | 2.12% | 936,913 | $52.9M | Reduce -9.3% |
| CROX Crocs Inc. | 1.97% | 588,794 | $49.2M | Add +17.0% |
| DAL Delta Air Lines Inc. | 1.96% | 861,298 | $48.9M | Reduce -4.3% |
| PLAY Dave & Buster's Entertainmen | 1.55% | 2,137,257 | $38.8M | Add +0.2% |
| MAT Mattel Inc. | 1.41% | 2,099,262 | $35.3M | Add +43.4% |
| TEM Tempus AI Inc. Class A | 1.25% | 387,870 | $31.3M | Reduce -0.2% |
| NE Noble Corp. PLC | 1.22% | 1,081,074 | $30.6M | Add +50.5% |
| JD Jd.com Inc.-ADR | 1.18% | 842,937 | $29.5M | Add +6.8% |
| PTON Peloton Interactive Inc. Class A | 0.91% | 2,533,688 | $22.8M | Reduce -5.8% |
| ANGI Angi Inc. | 0.52% | 799,342 | $13.0M | Reduce -1.1% |
| JPM JPMorgan Chase & Co. | 0.37% | 29,379 | $9.3M | Reduce -0.0% |
| KOS Kosmos Energy Ltd. | 0.22% | 3,314,653 | $5.5M | Reduce -82.9% |
| YOU Clear Secure Inc. Class A | 0.17% | 125,000 | $4.2M | Reduce -10.5% |
| LEN.B Lennar Corp. Class B | 0.06% | 12,500 | $1.5M | No change |
| APA Apa Corp. | 0.05% | 50,000 | $1.2M | No change |
| MSTR Strategy Inc. | 0.03% | 2,092 | $674K | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.01% | 421 | $281K | New |
Portfolio Sells Q2 2025 → Q3 2025
| QXO Qxo Inc. | Reduce -0.1% | 4.99% | −1.37 |
| KOS Kosmos Energy Ltd. | Reduce -82.9% | 0.22% | −1.28 |
| COIN Coinbase Global Inc. Class A | Reduce -15.6% | 2.32% | −0.90 |
| AMZN Amazon.com Inc. | Reduce -0.3% | 4.94% | −0.64 |
| META Meta Platforms Inc. Class A | Reduce -0.2% | 4.23% | −0.57 |
| OMF Onemain Holdings Inc. | Reduce -9.3% | 2.12% | −0.54 |
| UBS UBS Group AG-Reg | Reduce -22.5% | 2.46% | −0.49 |
| GOOS Canada Goose Holdings Inc. | Sold out | 0.00% | −0.37 |
| ILMN Illumina Inc. | Reduce -0.1% | 2.21% | −0.30 |
| SOFI Sofi Technologies Inc. | Reduce -28.6% | 2.38% | −0.21 |
| FBTC Fidelity Wise Origin Bitcoin | Reduce -0.1% | 2.48% | −0.15 |
| CVS CVS Health Corp. | Reduce -0.2% | 3.74% | −0.12 |
| DAL Delta Air Lines Inc. | Reduce -4.3% | 1.96% | −0.04 |
| ANGI Angi Inc. | Reduce -1.1% | 0.52% | −0.04 |
| JPM JPMorgan Chase & Co. | Reduce -0.0% | 0.37% | −0.01 |
| YOU Clear Secure Inc. Class A | Reduce -10.5% | 0.17% | −0.01 |
| PTON Peloton Interactive Inc. Class A | Reduce -5.8% | 0.91% | +0.07 |
| TEM Tempus AI Inc. Class A | Reduce -0.2% | 1.25% | +0.14 |
| C Citigroup Inc. | Reduce -2.6% | 5.32% | +0.15 |
| UAL United Airlines Holdings Inc. | Reduce -0.3% | 2.57% | +0.17 |
| EXPE Expedia Group Inc. | Reduce -3.2% | 2.17% | +0.18 |
| NCLH Norwegian Cruise Line Holdin | Reduce -3.0% | 4.50% | +0.19 |
| GM General Motors Co. | Reduce -0.4% | 2.30% | +0.20 |
| NVDA Nvidia Corp. | Reduce -0.2% | 4.73% | +0.20 |
| BABA Alibaba Group Holding-SP ADR | Reduce -1.9% | 3.50% | +0.95 |
Portfolio Buys Q2 2025 → Q3 2025
| PGEN Precigen Inc. | Add +62.6% | 3.48% | +2.44 |
| UNH Unitedhealth Group Inc. | Add +93.5% | 5.13% | +2.43 |
| GOOGL Alphabet Inc. Class A | Add +0.1% | 5.97% | +1.09 |
| BIIB Biogen Inc. | Add +23.8% | 2.22% | +0.41 |
| NE Noble Corp. PLC | Add +50.5% | 1.22% | +0.36 |
| MAT Mattel Inc. | Add +43.4% | 1.41% | +0.11 |
| SDRL Seadrill Limited | Add +0.0% | 2.70% | +0.06 |
| MSTR Strategy Inc. | New | 0.03% | +0.03 |
| ET Energy Transfer LP | Add +19.9% | 3.36% | +0.02 |
| JD Jd.com Inc.-ADR | Add +6.8% | 1.18% | +0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.01% | +0.01 |
| PPLI People Inc. | Add +21.2% | 2.88% | −0.06 |
| CROX Crocs Inc. | Add +17.0% | 1.97% | −0.33 |
| RPRX Royalty Pharma PLC Class A | Add +4.3% | 4.40% | −0.46 |
| PLAY Dave & Buster's Entertainmen | Add +0.2% | 1.55% | −1.34 |
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 |