Patient Capital Management

Samantha McLemore

Samantha McLemore is the founder and chief investment officer of Patient Capital Management, an independent investment firm she launched in Baltimore in 2020. She graduated magna cum laude from Washington and Lee University, earned her CFA charter in 2005, and began as an analyst at Legg Mason Capital Management in 2002. There she worked alongside value investor Bill Miller for more than two decades, rising to co-manage the Miller Opportunity Trust before the two moved together to Miller Value Partners. Patient Capital was built around the contrarian, unconstrained strategy McLemore had developed under Miller since 2014. In May 2023 the firm took over the Opportunity Equity strategy from Miller Value Partners, and with Miller stepping away she assumed sole management. The firm looks for high-quality businesses whose stock prices have swung well below their fundamental value, often after a sharp downturn, and holds them patiently for years — McLemore has described volatility not as risk but as the price you pay for returns. Her work has earned Sauren Gold medals in 2019, 2020, and 2021 and a place on Baltimore's 40 Under 40 list in 2017.

based on 11 of 24 closed positions