Patient Capital Management LLC's Q4 2025 13F: 2 new positions, 3 exits
Form 13F-HR for the quarter ended Dec 31, 2025 · filed Feb 13, 2026 · 40 reported positions · accession 0001854794-26-000003
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | ALIBABA GROUP HLDG LTD (BABA) | 3.5% | 0.6% | −2.9 pts | −390K sh | −80% |
| New | CHIME FINL INC (CHYM) | — | 2.0% | +2.0 pts | +2.04M sh | new |
| Reduced | PRECIGEN INC (PGEN) | 3.5% | 3.0% | −0.5 pts | −7.79M sh | −29% |
| Increased | BIOGEN INC (BIIB) | 2.2% | 3.9% | +1.7 pts | +180K sh | +45% |
| Reduced | SOFI TECHNOLOGIES INC (SOFI) | 2.4% | 1.2% | −1.2 pts | −1.06M sh | −47% |
| Reduced | EXPEDIA GROUP INC (EXPE) | 2.2% | 1.9% | −0.2 pts | −77,195 sh | −30% |
| New | FISERV INC (FISV) | — | 0.7% | +0.7 pts | +259K sh | new |
| Increased | NORWEGIAN CRUISE LINE HLDG L (NCLH) | 4.5% | 4.6% | +0.1 pts | +743K sh | +16% |
| Increased | CROCS INC (CROX) | 2.0% | 2.5% | +0.5 pts | +170K sh | +29% |
| Reduced | UBS GROUP AG (UBS) | 2.5% | 2.1% | −0.3 pts | −314K sh | −21% |
| Increased | MATTEL INC (MAT) | 1.4% | 2.1% | +0.7 pts | +695K sh | +33% |
| Reduced | GENERAL MTRS CO (GM) | 2.3% | 2.4% | +0.1 pts | −169K sh | −18% |
| Exited | ANGI INC (ANGI) | 0.5% | — | −0.5 pts | −799K sh | −100% |
| Reduced | DELTA AIR LINES INC DEL (DAL) | 2.0% | 1.8% | −0.1 pts | −181K sh | −21% |
| Increased | FIDELITY WISE ORIGIN BITCOIN (FBTC) | 2.5% | 2.3% | −0.2 pts | +162K sh | +26% |
| Increased | IAC INC (IAC) | 2.9% | 3.6% | +0.7 pts | +266K sh | +13% |
| Reduced | ALPHABET INC (GOOGL) | 6.0% | 7.0% | +1.1 pts | −31,696 sh | −5% |
| Increased | ROYALTY PHARMA PLC (RPRX) | 4.4% | 5.0% | +0.6 pts | +216K sh | +7% |
| Reduced | DAVE & BUSTERS ENTMT INC (PLAY) | 1.6% | 1.0% | −0.5 pts | −474K sh | −22% |
| Reduced | ONEMAIN HLDGS INC (OMF) | 2.1% | 2.2% | 0.0 pts | −112K sh | −12% |
| Increased | ENERGY TRANSFER L P (ET) | 3.4% | 3.4% | 0.0 pts | +385K sh | +8% |
| Reduced | SEADRILL LTD (SDRL) | 2.7% | 2.7% | 0.0 pts | −176K sh | −8% |
| Exited | KOSMOS ENERGY LTD (KOS) | 0.2% | — | −0.2 pts | −3.31M sh | −100% |
| Increased | NOBLE CORP PLC (NE) | 1.2% | 1.4% | +0.2 pts | +200K sh | +19% |
| Reduced | PELOTON INTERACTIVE INC (PTON) | 0.9% | 0.4% | −0.5 pts | −653K sh | −26% |
| Reduced | CITIGROUP INC (C) | 5.3% | 5.8% | +0.5 pts | −18,613 sh | −1% |
| Increased | COINBASE GLOBAL INC (COIN) | 2.3% | 1.6% | −0.8 pts | +7,187 sh | +4% |
| Reduced | UNITED AIRLS HLDGS INC (UAL) | 2.6% | 2.8% | +0.2 pts | −12,394 sh | −2% |
| Reduced | QXO INC (QXO) | 5.0% | 4.8% | −0.2 pts | −68,173 sh | −1% |
| Increased | NVIDIA CORPORATION (NVDA) | 4.7% | 4.6% | −0.1 pts | +6,130 sh | +1% |
| Reduced | UNITEDHEALTH GROUP INC (UNH) | 5.1% | 4.7% | −0.4 pts | −3,070 sh | −1% |
| Reduced | ILLUMINA INC (ILMN) | 2.2% | 2.9% | +0.7 pts | −5,591 sh | −1% |
| Exited | STRATEGY INC (MSTR) | 0.0% | — | 0.0 pts | −2,092 sh | −100% |
| Reduced | CVS HEALTH CORP (CVS) | 3.7% | 3.8% | 0.0 pts | −8,478 sh | −1% |
| Reduced | META PLATFORMS INC (META) | 4.2% | 3.6% | −0.6 pts | −906 sh | −1% |
| Increased | SPDR S&P 500 ETF TR (SPY) | 0.0% | 0.0% | 0.0 pts | +654 sh | +155% |
| Reduced | TEMPUS AI INC (TEM) | 1.3% | 0.9% | −0.4 pts | −5,742 sh | −1% |
| Increased | AMAZON COM INC (AMZN) | 4.9% | 5.0% | +0.1 pts | +583 sh | 0% |
| Reduced | JD.COM INC (JD) | 1.2% | 0.9% | −0.2 pts | −1,952 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 — 49.2% of the equity book
Changes in the top 10 this quarter: BIIB entered · META left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | ALPHABET INC (GOOGL) | 6.0% | 7.0% | |
| 2 | CITIGROUP INC (C) | 5.3% | 5.8% | |
| 3 | AMAZON COM INC (AMZN) | 4.9% | 5.0% | |
| 4 | ROYALTY PHARMA PLC (RPRX) | 4.4% | 5.0% | |
| 5 | QXO INC (QXO) | 5.0% | 4.8% | |
| 6 | UNITEDHEALTH GROUP INC (UNH) | 5.1% | 4.7% | |
| 7 | NVIDIA CORPORATION (NVDA) | 4.7% | 4.6% | |
| 8 | NORWEGIAN CRUISE LINE HLDG L (NCLH) | 4.5% | 4.6% | |
| 9 | BIOGEN INC (BIIB) | 2.2% | 3.9% | Entered the top 10 |
| 10 | CVS HEALTH CORP (CVS) | 3.7% | 3.8% | |
| — | META PLATFORMS INC (META) | 4.2% | 3.6% | 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).