Patient Capital Management, LLC Long-Term Concentrated

Location: BALTIMORE, MD

CIK: 0001854794 · Show all filings

Period: Q1 2026 (← Previous)

Filing Date: May 14, 2026

Total Value ($000): $2,735,138 (100.0% shares, 0.0% debt)

Holdings (40)

New Positions (4)

ADBE ADOBE INC 2.6%

Value ($000) $72,263 Shares 297,279 Est. Cost $289.87 Unrealized 0.0%

IBIT ISHARES BITCOIN TRUST ETF 1.5%

Value ($000) $42,262 Shares 1,100,000 Est. Cost $38.42 Unrealized —

— BIOGEN INC 1.3%

Value ($000) $34,723 Shares 1,894 Est. Cost — Unrealized —

— TESLA INC 0.7%

Value ($000) $18,588 Shares 500 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ADBE	ADOBE INC	297,279	$72,263	2.6%	$289.87	0.0%	COM	00724F101
IBIT	ISHARES BITCOIN TRUST ETF	1,100,000	$42,262	1.5%	$38.42	—	SHS BEN INT	46438F101
—	BIOGEN INC	1,894	$34,723	1.3%	—	—	CALL	09062X903
—	TESLA INC	500	$18,588	0.7%	—	—	PUT	88160R951

Increased Positions (23)

RPRX ROYALTY PHARMA PLC 6.4%

Value ($000) $174,789 (+35.7%) Shares 3,643,716 (+9.3%) Est. Cost $29.70 Unrealized +42.4%

FISV FISERV INC 2.0%

Value ($000) $54,025 (+210.3%) Shares 968,194 (+273.6%) Est. Cost $69.28 Unrealized -7.7%

COIN COINBASE GLOBAL INC 2.7%

Value ($000) $75,153 (+85.7%) Shares 430,405 (+140.6%) Est. Cost $157.44 Unrealized +27.4%

ET ENERGY TRANSFER L P 4.3%

Value ($000) $117,502 (+35.1%) Shares 6,088,203 (+15.5%) Est. Cost $14.08 Unrealized —

NE NOBLE CORP PLC 2.4%

Value ($000) $66,139 (+82.8%) Shares 1,347,854 (+5.2%) Est. Cost $25.82 Unrealized +44.0%

SDRL SEADRILL LTD 3.6%

Value ($000) $97,947 (+37.8%) Shares 2,152,685 (+4.8%) Est. Cost $38.21 Unrealized +2.0%

JD JD.COM INC 1.5%

Value ($000) $41,382 (+71.5%) Shares 1,399,468 (+66.4%) Est. Cost $35.81 Unrealized —

IAC IAC INC 4.0%

Value ($000) $108,064 (+16.4%) Shares 2,699,564 (+13.7%) Est. Cost $42.26 Unrealized -10.8%

NCLH NORWEGIAN CRUISE LINE HLDGS 3.9%

Value ($000) $107,518 (-9.2%) Shares 5,749,640 (+8.3%) Est. Cost $19.34 Unrealized +18.2%

SOFI SOFI TECHNOLOGIES INC 0.8%

Value ($000) $21,061 (-32.9%) Shares 1,326,246 (+10.7%) Est. Cost $8.59 Unrealized +171.0%

C CITIGROUP INC 5.9%

Value ($000) $160,347 (+6.4%) Shares 1,413,870 (+9.5%) Est. Cost $49.23 Unrealized +136.0%

QXO QXO INC 4.8%

Value ($000) $131,636 (+5.5%) Shares 6,778,389 (+4.8%) Est. Cost $28.94 Unrealized -16.6%

UBS UBS GROUP AG 1.8%

Value ($000) $48,523 (-11.8%) Shares 1,241,955 (+4.6%) Est. Cost $21.40 Unrealized +112.9%

AMZN AMAZON COM INC 5.0%

Value ($000) $136,296 (+5.0%) Shares 654,419 (+16.3%) Est. Cost $131.07 Unrealized +73.1%

UAL UNITED AIRLS HLDGS INC 2.5%

Value ($000) $67,397 (-7.9%) Shares 732,020 (+11.9%) Est. Cost $53.01 Unrealized +110.7%

CROX CROCS INC 2.6%

Value ($000) $69,973 (+7.8%) Shares 842,842 (+11.1%) Est. Cost $92.73 Unrealized -4.9%

NVDA NVIDIA CORPORATION 4.5%

Value ($000) $124,019 (+4.1%) Shares 711,115 (+11.3%) Est. Cost $108.21 Unrealized +72.5%

META META PLATFORMS INC 3.6%

Value ($000) $97,884 (+3.6%) Shares 171,086 (+19.6%) Est. Cost $316.33 Unrealized +107.2%

UNH UNITEDHEALTH GROUP INC 4.3%

Value ($000) $118,286 (-2.7%) Shares 437,141 (+18.7%) Est. Cost $333.57 Unrealized -7.5%

CHYM CHIME FINL INC 2.0%

Value ($000) $53,980 (+5.4%) Shares 2,882,016 (+41.6%) Est. Cost $22.06 Unrealized +8.8%

TEM TEMPUS AI INC 0.7%

Value ($000) $19,996 (-11.4%) Shares 442,199 (+15.7%) Est. Cost $57.87 Unrealized +5.8%

CVS CVS HEALTH CORP 3.6%

Value ($000) $97,471 (-0.3%) Shares 1,357,159 (+10.2%) Est. Cost $60.85 Unrealized +28.1%

SPY STATE STR SPDR S&P 500 ETF T 0.0%

Value ($000) $726 (-1.0%) Shares 1,115 (+3.7%) Est. Cost $674.96 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RPRX	ROYALTY PHARMA PLC	3,643,716 (+9.3%)	$174,789 (+35.7%)	6.4%	$29.70	+42.4%	SHS CLASS A	G7709Q104
FISV	FISERV INC	968,194 (+273.6%)	$54,025 (+210.3%)	2.0%	$69.28	-7.7%	COM	337738108
COIN	COINBASE GLOBAL INC	430,405 (+140.6%)	$75,153 (+85.7%)	2.7%	$157.44	+27.4%	COM CL A	19260Q107
ET	ENERGY TRANSFER L P	6,088,203 (+15.5%)	$117,502 (+35.1%)	4.3%	$14.08	—	COM UT LTD PTN	29273V100
NE	NOBLE CORP PLC	1,347,854 (+5.2%)	$66,139 (+82.8%)	2.4%	$25.82	+44.0%	ORD SHS A	G65431127
SDRL	SEADRILL LTD	2,152,685 (+4.8%)	$97,947 (+37.8%)	3.6%	$38.21	+2.0%	COM	G7997W102
JD	JD.COM INC	1,399,468 (+66.4%)	$41,382 (+71.5%)	1.5%	$35.81	—	SPON ADS CL A	47215P106
IAC	IAC INC	2,699,564 (+13.7%)	$108,064 (+16.4%)	4.0%	$42.26	-10.8%	COM NEW	44891N208
NCLH	NORWEGIAN CRUISE LINE HLDGS	5,749,640 (+8.3%)	$107,518 (-9.2%)	3.9%	$19.34	+18.2%	SHS	G66721104
SOFI	SOFI TECHNOLOGIES INC	1,326,246 (+10.7%)	$21,061 (-32.9%)	0.8%	$8.59	+171.0%	COM	83406F102
C	CITIGROUP INC	1,413,870 (+9.5%)	$160,347 (+6.4%)	5.9%	$49.23	+136.0%	COM NEW	172967424
QXO	QXO INC	6,778,389 (+4.8%)	$131,636 (+5.5%)	4.8%	$28.94	-16.6%	COM NEW	82846H405
UBS	UBS GROUP AG	1,241,955 (+4.6%)	$48,523 (-11.8%)	1.8%	$21.40	+112.9%	SHS	H42097107
AMZN	AMAZON COM INC	654,419 (+16.3%)	$136,296 (+5.0%)	5.0%	$131.07	+73.1%	COM	023135106
UAL	UNITED AIRLS HLDGS INC	732,020 (+11.9%)	$67,397 (-7.9%)	2.5%	$53.01	+110.7%	COM	910047109
CROX	CROCS INC	842,842 (+11.1%)	$69,973 (+7.8%)	2.6%	$92.73	-4.9%	COM	227046109
NVDA	NVIDIA CORPORATION	711,115 (+11.3%)	$124,019 (+4.1%)	4.5%	$108.21	+72.5%	COM	67066G104
META	META PLATFORMS INC	171,086 (+19.6%)	$97,884 (+3.6%)	3.6%	$316.33	+107.2%	CL A	30303M102
UNH	UNITEDHEALTH GROUP INC	437,141 (+18.7%)	$118,286 (-2.7%)	4.3%	$333.57	-7.5%	COM	91324P102
CHYM	CHIME FINL INC	2,882,016 (+41.6%)	$53,980 (+5.4%)	2.0%	$22.06	+8.8%	COM SHS CL A	16935C109
TEM	TEMPUS AI INC	442,199 (+15.7%)	$19,996 (-11.4%)	0.7%	$57.87	+5.8%	CL A	88023B103
CVS	CVS HEALTH CORP	1,357,159 (+10.2%)	$97,471 (-0.3%)	3.6%	$60.85	+28.1%	COM	126650100
SPY	STATE STR SPDR S&P 500 ETF T	1,115 (+3.7%)	$726 (-1.0%)	0.0%	$674.96	—	TR UNIT	78462F103

Exited Positions (4)

MAT MATTEL INC 2.0%

Value ($000) $55,440 Shares 2,794,343 Est. Cost $18.61 Unrealized +6.8%

BABA ALIBABA GROUP HLDG LTD 0.5%

Value ($000) $14,675 Shares 100,114 Est. Cost $84.40 Unrealized —

PTON PELOTON INTERACTIVE INC 0.4%

Value ($000) $11,583 Shares 1,880,356 Est. Cost $7.47 Unrealized -27.2%

YOU CLEAR SECURE INC 0.2%

Value ($000) $4,385 Shares 125,000 Est. Cost $24.40 Unrealized +41.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MAT	MATTEL INC	2,794,343	$55,440	2.0%	$18.61	+6.8%	—	577081102
BABA	ALIBABA GROUP HLDG LTD	100,114	$14,675	0.5%	$84.40	—	—	01609W102
PTON	PELOTON INTERACTIVE INC	1,880,356	$11,583	0.4%	$7.47	-27.2%	—	70614W100
YOU	CLEAR SECURE INC	125,000	$4,385	0.2%	$24.40	+41.9%	—	18467V109

Decreased Positions (10)

FBTC FIDELITY WISE ORIGIN BITCOIN 0.8%

Value ($000) $20,887 (-64.9%) Shares 353,831 (-54.7%) Est. Cost $74.19 Unrealized —

BIIB BIOGEN INC 2.5%

Value ($000) $69,618 (-31.4%) Shares 379,741 (-34.1%) Est. Cost $180.95 Unrealized +1.3%

GOOGL ALPHABET INC 5.6%

Value ($000) $153,555 (-15.7%) Shares 533,993 (-8.2%) Est. Cost $115.84 Unrealized +179.1%

PLAY DAVE & BUSTERS ENTMT INC 0.5%

Value ($000) $12,472 (-53.7%) Shares 1,151,658 (-30.8%) Est. Cost $32.24 Unrealized -44.7%

OMF ONEMAIN HLDGS INC 1.5%

Value ($000) $41,796 (-25.0%) Shares 781,371 (-5.3%) Est. Cost $40.03 Unrealized +58.0%

EXPE EXPEDIA GROUP INC 1.4%

Value ($000) $38,740 (-22.4%) Shares 167,784 (-4.8%) Est. Cost $102.21 Unrealized +148.0%

DAL DELTA AIR LINES INC 1.3%

Value ($000) $36,731 (-22.2%) Shares 552,514 (-18.8%) Est. Cost $37.54 Unrealized +86.1%

PGEN PRECIGEN INC 2.5%

Value ($000) $68,953 (-11.7%) Shares 17,817,387 (-4.6%) Est. Cost $1.90 Unrealized +136.9%

ILMN ILLUMINA INC 2.5%

Value ($000) $67,150 (-11.1%) Shares 544,780 (-5.4%) Est. Cost $106.74 Unrealized +26.9%

GM GENERAL MTRS CO 2.0%

Value ($000) $55,475 (-11.6%) Shares 744,630 (-3.5%) Est. Cost $35.04 Unrealized +134.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FBTC	FIDELITY WISE ORIGIN BITCOIN	353,831 (-54.7%)	$20,887 (-64.9%)	0.8%	$74.19	—	SHS	315948109
BIIB	BIOGEN INC	379,741 (-34.1%)	$69,618 (-31.4%)	2.5%	$180.95	+1.3%	COM	09062X103
GOOGL	ALPHABET INC	533,993 (-8.2%)	$153,555 (-15.7%)	5.6%	$115.84	+179.1%	CAP STK CL A	02079K305
PLAY	DAVE & BUSTERS ENTMT INC	1,151,658 (-30.8%)	$12,472 (-53.7%)	0.5%	$32.24	-44.7%	COM	238337109
OMF	ONEMAIN HLDGS INC	781,371 (-5.3%)	$41,796 (-25.0%)	1.5%	$40.03	+58.0%	COM	68268W103
EXPE	EXPEDIA GROUP INC	167,784 (-4.8%)	$38,740 (-22.4%)	1.4%	$102.21	+148.0%	COM NEW	30212P303
DAL	DELTA AIR LINES INC	552,514 (-18.8%)	$36,731 (-22.2%)	1.3%	$37.54	+86.1%	COM NEW	247361702
PGEN	PRECIGEN INC	17,817,387 (-4.6%)	$68,953 (-11.7%)	2.5%	$1.90	+136.9%	COM	74017N105
ILMN	ILLUMINA INC	544,780 (-5.4%)	$67,150 (-11.1%)	2.5%	$106.74	+26.9%	COM	452327109
GM	GENERAL MTRS CO	744,630 (-3.5%)	$55,475 (-11.6%)	2.0%	$35.04	+134.7%	COM	37045V100

Unchanged Positions (3)

APA APA CORPORATION 0.1%

Value ($000) $2,122 Shares 50,000 Est. Cost $22.14 Unrealized +19.4%

JPM JPMORGAN CHASE & CO 0.3%

Value ($000) $8,637 Shares 29,362 Est. Cost $131.03 Unrealized +137.7%

LEN/B LENNAR CORP 0.0%

Value ($000) $1,052 Shares 12,500 Est. Cost $56.95 Unrealized +86.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
APA	APA CORPORATION	50,000	$2,122	0.1%	$22.14	+19.4%	COM	03743Q108
JPM	JPMORGAN CHASE & CO	29,362	$8,637	0.3%	$131.03	+137.7%	COM	46625H100
LEN/B	LENNAR CORP	12,500	$1,052	0.0%	$56.95	+86.0%	CL B	526057302