13F filing recap · Q1 2026

What did Patient Capital Management buy in Q1 2026?

Reported stock-position changes between this filing and the previous one.

Stock value

$2.68B

Positions

Estimated turnover

22.6%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Quarter in review

Patient Capital Management opened new positions in Adobe and the iShares Bitcoin Trust ETF, while exiting Alibaba, Clear Secure, Mattel, and Peloton. The firm added to Coinbase and Fiserv sharply, and substantially increased Chime Financial and JD.com. It trimmed Biogen, Delta Air Lines, and Dave & Buster’s, and reduced its Fidelity Wise Origin Bitcoin Fund stake substantially.

New positions

ADBEAdobe Inc.$72.26Mreported value+297.3K shares IBITiShares Bitcoin Trust ETF$42.26Mreported value+1.10M shares

Increased positions

RPRXRoyalty Pharma Plc$174.79Mreported value+310.0K shares+9.3%CCitigroup Inc$160.35Mreported value+122.1K shares+9.5%AMZNAmazon.com Inc$136.30Mreported value+91.9K shares+16.3%QXOQxo, Inc.$131.64Mreported value+309.5K shares

Reduced positions

GOOGLAlphabet Inc.$153.56Mreported value-47.6K shares-8.2%BIIBBiogen Inc.$69.62Mreported value-196.6K shares-34.1%PGENPrecigen, Inc.$68.95Mreported value-856.1K shares-4.6%ILMNIllumina, Inc.$67.15Mreported value-31.0K shares

Exited positions

MATMattel Inc /de/$55.44Mprior reported value-2.79M shares-100.0%BABAAlibaba Group Holding Limited$14.67Mprior reported value-100.1K shares-100.0%PTONPeloton Interactive, Inc.$11.58Mprior reported value-1.88M shares-100.0%YOUClear Secure, Inc.$4.38Mprior reported value-125.0K shares