Patient Capital Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Patient Capital Management, LLC reported 40 stock positions worth $2.6 billion. Its top holding was Alphabet Class A (GOOGL) at 7.0% of the portfolio, followed by Citigroup (C, 5.8%) and Amazon.com (AMZN, 5.0%). Compared with Q3 2025, it opened 2 new positions, sold out of 3, added to 13 and reduced 21. The biggest buy was a new position in Chime Financial Class A (CHYM) and the biggest sale Alibaba Group Holding-SP ADR (BABA, shares −80%).
- Most Recent 13F
- Q2 2026
- Location
- BALTIMORE, MD
- CIK
- 0001854794
- Portfolio Value
- $2.6B (Q4 2025)
- SEC Filing
- 0001854794-26-000003 ↗ filed Feb 13, 2026
Holdings Value
Holdings 40 stocks · $2.6B
| GOOGL Alphabet Inc. Class A | 7.03% | 581,637 | $182.1M | Reduce -5.2% |
| C Citigroup Inc. | 5.82% | 1,291,794 | $150.7M | Reduce -1.4% |
| AMZN Amazon.com Inc. | 5.01% | 562,559 | $129.8M | Add +0.1% |
| RPRX Royalty Pharma PLC Class A | 4.97% | 3,333,675 | $128.8M | Add +6.9% |
| QXO Qxo Inc. | 4.82% | 6,468,854 | $124.8M | Reduce -1.0% |
| UNH Unitedhealth Group Inc. | 4.69% | 368,293 | $121.6M | Reduce -0.8% |
| NVDA Nvidia Corp. | 4.60% | 638,814 | $119.1M | Add +1.0% |
| NCLH Norwegian Cruise Line Holdin | 4.57% | 5,308,128 | $118.5M | Add +16.3% |
| BIIB Biogen Inc. | 3.92% | 576,352 | $101.4M | Add +45.3% |
| CVS CVS Health Corp. | 3.77% | 1,231,416 | $97.7M | Reduce -0.7% |
| META Meta Platforms Inc. Class A | 3.65% | 143,094 | $94.5M | Reduce -0.6% |
| PPLI People Inc. filed as IAC INC | 3.58% | 2,374,050 | $92.8M | Add +12.6% |
| ET Energy Transfer LP | 3.36% | 5,272,875 | $86.9M | Add +7.9% |
| PGEN Precigen Inc. | 3.01% | 18,673,466 | $78.1M | Reduce -29.4% |
| ILMN Illumina Inc. | 2.91% | 575,768 | $75.5M | Reduce -1.0% |
| UAL United Airlines Holdings Inc. | 2.82% | 654,121 | $73.1M | Reduce -1.9% |
| SDRL Seadrill Limited | 2.74% | 2,053,797 | $71.1M | Reduce -7.9% |
| CROX Crocs Inc. | 2.50% | 758,797 | $64.9M | Add +28.9% |
| GM General Motors Co. | 2.42% | 771,647 | $62.8M | Reduce -18.0% |
| FBTC Fidelity Wise Origin Bitcoin | 2.30% | 781,695 | $59.6M | Add +26.1% |
| OMF Onemain Holdings Inc. | 2.15% | 824,942 | $55.7M | Reduce -11.9% |
| MAT Mattel Inc. | 2.14% | 2,794,343 | $55.4M | Add +33.1% |
| UBS UBS Group AG-Reg | 2.12% | 1,187,326 | $55.0M | Reduce -20.9% |
| CHYM Chime Financial Inc. Class A | 1.98% | 2,035,112 | $51.2M | New |
| EXPE Expedia Group Inc. | 1.93% | 176,282 | $49.9M | Reduce -30.4% |
| DAL Delta Air Lines Inc. | 1.82% | 680,405 | $47.2M | Reduce -21.0% |
| COIN Coinbase Global Inc. Class A | 1.56% | 178,923 | $40.5M | Add +4.2% |
| NE Noble Corp. PLC | 1.40% | 1,281,155 | $36.2M | Add +18.5% |
| SOFI Sofi Technologies Inc. | 1.21% | 1,198,484 | $31.4M | Reduce -46.8% |
| PLAY Dave & Buster's Entertainmen | 1.04% | 1,663,341 | $27.0M | Reduce -22.2% |
| JD Jd.com Inc.-ADR | 0.93% | 840,985 | $24.1M | Reduce -0.2% |
| TEM Tempus AI Inc. Class A | 0.87% | 382,128 | $22.6M | Reduce -1.5% |
| FISV Fiserv Inc. | 0.67% | 259,161 | $17.4M | New |
| BABA Alibaba Group Holding-SP ADR | 0.57% | 100,114 | $14.7M | Reduce -79.6% |
| PTON Peloton Interactive Inc. Class A | 0.45% | 1,880,356 | $11.6M | Reduce -25.8% |
| JPM JPMorgan Chase & Co. | 0.37% | 29,379 | $9.5M | No change |
| YOU Clear Secure Inc. Class A | 0.17% | 125,000 | $4.4M | No change |
| APA Apa Corp. | 0.05% | 50,000 | $1.2M | No change |
| LEN.B Lennar Corp. Class B | 0.05% | 12,500 | $1.2M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.03% | 1,075 | $733K | Add +155.3% |
Portfolio Sells Q3 2025 → Q4 2025
| BABA Alibaba Group Holding-SP ADR | Reduce -79.6% | 0.57% | −2.94 |
| SOFI Sofi Technologies Inc. | Reduce -46.8% | 1.21% | −1.17 |
| META Meta Platforms Inc. Class A | Reduce -0.6% | 3.65% | −0.59 |
| ANGI Angi Inc. | Sold out | 0.00% | −0.52 |
| PLAY Dave & Buster's Entertainmen | Reduce -22.2% | 1.04% | −0.51 |
| PGEN Precigen Inc. | Reduce -29.4% | 3.01% | −0.47 |
| PTON Peloton Interactive Inc. Class A | Reduce -25.8% | 0.45% | −0.47 |
| UNH Unitedhealth Group Inc. | Reduce -0.8% | 4.69% | −0.44 |
| TEM Tempus AI Inc. Class A | Reduce -1.5% | 0.87% | −0.38 |
| UBS UBS Group AG-Reg | Reduce -20.9% | 2.12% | −0.34 |
| JD Jd.com Inc.-ADR | Reduce -0.2% | 0.93% | −0.25 |
| EXPE Expedia Group Inc. | Reduce -30.4% | 1.93% | −0.24 |
| KOS Kosmos Energy Ltd. | Sold out | 0.00% | −0.22 |
| QXO Qxo Inc. | Reduce -1.0% | 4.82% | −0.17 |
| DAL Delta Air Lines Inc. | Reduce -21.0% | 1.82% | −0.13 |
| MSTR Strategy Inc. | Sold out | 0.00% | −0.03 |
| CVS CVS Health Corp. | Reduce -0.7% | 3.77% | +0.03 |
| OMF Onemain Holdings Inc. | Reduce -11.9% | 2.15% | +0.03 |
| SDRL Seadrill Limited | Reduce -7.9% | 2.74% | +0.05 |
| GM General Motors Co. | Reduce -18.0% | 2.42% | +0.13 |
| UAL United Airlines Holdings Inc. | Reduce -1.9% | 2.82% | +0.25 |
| C Citigroup Inc. | Reduce -1.4% | 5.82% | +0.49 |
| ILMN Illumina Inc. | Reduce -1.0% | 2.91% | +0.70 |
| GOOGL Alphabet Inc. Class A | Reduce -5.2% | 7.03% | +1.06 |
Portfolio Buys Q3 2025 → Q4 2025
| CHYM Chime Financial Inc. Class A | New | 1.98% | +1.98 |
| BIIB Biogen Inc. | Add +45.3% | 3.92% | +1.69 |
| MAT Mattel Inc. | Add +33.1% | 2.14% | +0.73 |
| PPLI People Inc. | Add +12.6% | 3.58% | +0.71 |
| FISV Fiserv Inc. | New | 0.67% | +0.67 |
| RPRX Royalty Pharma PLC Class A | Add +6.9% | 4.97% | +0.57 |
| CROX Crocs Inc. | Add +28.9% | 2.50% | +0.54 |
| NE Noble Corp. PLC | Add +18.5% | 1.40% | +0.17 |
| AMZN Amazon.com Inc. | Add +0.1% | 5.01% | +0.07 |
| NCLH Norwegian Cruise Line Holdin | Add +16.3% | 4.57% | +0.07 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +155.3% | 0.03% | +0.02 |
| ET Energy Transfer LP | Add +7.9% | 3.36% | −0.00 |
| NVDA Nvidia Corp. | Add +1.0% | 4.60% | −0.13 |
| FBTC Fidelity Wise Origin Bitcoin | Add +26.1% | 2.30% | −0.18 |
| COIN Coinbase Global Inc. Class A | Add +4.2% | 1.56% | −0.76 |
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 |