Patient Capital Management LLC's Q1 2025 13F: 3 new positions, 7 exits
Form 13F-HR for the quarter ended Mar 31, 2025 · filed May 14, 2025 · 39 reported positions · accession 0001085146-25-003124
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | JD.COM INC (JD) | 0.2% | 1.7% | +1.5 pts | +686K sh | +686% |
| Reduced | EXPEDIA GROUP INC (EXPE) | 3.8% | 2.4% | −1.4 pts | −164K sh | −37% |
| Increased | FIDELITY WISE ORIGIN BITCOIN (FBTC) | 1.2% | 2.3% | +1.1 pts | +315K sh | +103% |
| Exited | EXPAND ENERGY CORPORATION (EXE) | 1.1% | — | −1.1 pts | −237K sh | −100% |
| Increased | NORWEGIAN CRUISE LINE HLDG L (NCLH) | 2.9% | 3.5% | +0.6 pts | +1.11M sh | +45% |
| New | NEW FORTRESS ENERGY INC (NFE) | — | 1.1% | +1.1 pts | +2.48M sh | new |
| Reduced | ALIBABA GROUP HLDG LTD (BABA) | 2.7% | 3.6% | +0.9 pts | −156K sh | −23% |
| New | CARVANA CO (CVNA) | — | 0.5% | +0.5 pts | +47,322 sh | new |
| Reduced | CITIGROUP INC (C) | 5.0% | 5.1% | +0.1 pts | −136K sh | −9% |
| Reduced | ONEMAIN HLDGS INC (OMF) | 3.0% | 2.7% | −0.3 pts | −191K sh | −15% |
| Reduced | CANADA GOOSE HLDGS INC (GOOS) | 1.8% | 1.1% | −0.7 pts | −1.15M sh | −30% |
| Reduced | SOFI TECHNOLOGIES INC (SOFI) | 3.0% | 2.1% | −0.9 pts | −717K sh | −17% |
| Reduced | DELTA AIR LINES INC DEL (DAL) | 2.6% | 1.7% | −0.9 pts | −179K sh | −19% |
| Increased | DAVE & BUSTERS ENTMT INC (PLAY) | 2.4% | 2.0% | −0.4 pts | +424K sh | +24% |
| Increased | SEADRILL LTD (SDRL) | 3.0% | 2.5% | −0.5 pts | +296K sh | +18% |
| Increased | CROCS INC (CROX) | 2.2% | 2.8% | +0.5 pts | +66,172 sh | +15% |
| Reduced | AMAZON COM INC (AMZN) | 6.2% | 5.6% | −0.6 pts | −35,880 sh | −6% |
| Reduced | PELOTON INTERACTIVE INC (PTON) | 1.5% | 0.9% | −0.6 pts | −1.03M sh | −27% |
| Reduced | QXO INC (QXO) | 5.7% | 5.1% | −0.6 pts | −448K sh | −6% |
| Increased | BIOGEN INC (BIIB) | 2.9% | 3.2% | +0.3 pts | +41,645 sh | +10% |
| Exited | TRAVEL PLUS LEISURE CO (TNL) | 0.3% | — | −0.3 pts | −117K sh | −100% |
| Reduced | MATTEL INC (MAT) | 2.1% | 2.3% | +0.2 pts | −221K sh | −9% |
| Reduced | ENERGY TRANSFER L P (ET) | 4.6% | 4.7% | +0.1 pts | −208K sh | −4% |
| Increased | ILLUMINA INC (ILMN) | 2.5% | 1.9% | −0.7 pts | +48,714 sh | +12% |
| Reduced | UNITED AIRLS HLDGS INC (UAL) | 3.2% | 2.4% | −0.9 pts | −54,620 sh | −8% |
| Exited | EVERI HLDGS INC (EVRI) | 0.2% | — | −0.2 pts | −300K sh | −100% |
| New | CLEAR SECURE INC (YOU) | — | 0.2% | +0.2 pts | +125K sh | new |
| Increased | ROYALTY PHARMA PLC (RPRX) | 3.4% | 4.8% | +1.4 pts | +97,557 sh | +3% |
| Exited | WESTERN ALLIANCE BANCORP (WAL) | 0.1% | — | −0.1 pts | −28,282 sh | −100% |
| Increased | NVIDIA CORPORATION (NVDA) | 3.8% | 3.5% | −0.3 pts | +18,389 sh | +3% |
| Exited | TEVA PHARMACEUTICAL INDS LTD (TEVA) | 0.1% | — | −0.1 pts | −100K sh | −100% |
| Increased | KOSMOS ENERGY LTD (KOS) | 2.7% | 2.1% | −0.6 pts | +857K sh | +5% |
| Exited | FISERV INC (FISV) | 0.1% | — | −0.1 pts | −10,042 sh | −100% |
| Increased | CVS HEALTH CORP (CVS) | 2.7% | 4.6% | +1.9 pts | +27,209 sh | +2% |
| Exited | SPDR S&P 500 ETF TR (SPY) | 0.1% | — | −0.1 pts | −3,463 sh | −100% |
| Increased | ALPHABET INC (GOOGL) | 5.2% | 4.8% | −0.4 pts | +10,202 sh | +2% |
| Reduced | META PLATFORMS INC (META) | 4.0% | 4.3% | +0.3 pts | −1,962 sh | −1% |
| Increased | IAC INC (IAC) | 3.3% | 4.0% | +0.7 pts | +17,402 sh | +1% |
| Reduced | PRECIGEN INC (PGEN) | 0.9% | 1.3% | +0.4 pts | −509K sh | −3% |
| Reduced | GENERAL MTRS CO (GM) | 3.8% | 3.7% | −0.1 pts | −4,381 sh | 0% |
| Increased | COINBASE GLOBAL INC (COIN) | 2.3% | 1.8% | −0.5 pts | +271 sh | 0% |
| Increased | UBS GROUP AG (UBS) | 2.9% | 3.2% | +0.4 pts | +633 sh | 0% |
| Reduced | JPMORGAN CHASE & CO. (JPM) | 0.3% | 0.4% | 0.0 pts | −3 sh | 0% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 46.7% of the equity book
Changes in the top 10 this quarter: CVS entered · IAC entered · EXPE left · NVDA left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | AMAZON COM INC (AMZN) | 6.2% | 5.6% | |
| 2 | CITIGROUP INC (C) | 5.0% | 5.1% | |
| 3 | QXO INC (QXO) | 5.7% | 5.1% | |
| 4 | ALPHABET INC (GOOGL) | 5.2% | 4.8% | |
| 5 | ROYALTY PHARMA PLC (RPRX) | 3.4% | 4.8% | |
| 6 | ENERGY TRANSFER L P (ET) | 4.6% | 4.7% | |
| 7 | CVS HEALTH CORP (CVS) | 2.7% | 4.6% | Entered the top 10 |
| 8 | META PLATFORMS INC (META) | 4.0% | 4.3% | |
| 9 | IAC INC (IAC) | 3.3% | 4.0% | Entered the top 10 |
| 10 | GENERAL MTRS CO (GM) | 3.8% | 3.7% | |
| — | EXPEDIA GROUP INC (EXPE) | 3.8% | 2.4% | Left the top 10 |
| — | NVIDIA CORPORATION (NVDA) | 3.8% | 3.5% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).