# Patient Capital Management portfolio: Q2 2026 13F holdings

Patient Capital Management: $3.1bn in 39 US holdings at Q2 2026, with buys and sells.

In Q2 2026, Patient Capital Management held 39 US-listed stocks worth $3.1bn. Its biggest move was cutting Noble (93% fewer shares, now 0.1%), followed by buying Global Payments (now 2.2% of the portfolio). It started 2 new positions and sold out of 1. Its largest holding is Royalty Pharma at 6.6%.

13F for the quarter ending 2026-06-30, filed 2026-08-13 ([filing](https://www.sec.gov/Archives/edgar/data/1854794/000185479426000005/0001854794-26-000005-index.htm)). $3.1bn in US-listed holdings.

## 13F holdings

| Company | Value | Portfolio | Change | Q1 2026 |
| --- | --- | --- | --- | --- |
| Royalty Pharma (RPRX) | $202m | 6.6% | Trimmed -1.2% | 6.4% |
| Citigroup (C) | $196m | 6.4% | Trimmed -0.7% | 5.9% |
| Alphabet (GOOG) | $188m | 6.2% | Trimmed -1.5% | 5.6% |
| UnitedHealth Group (UNH) | $182m | 6.0% | Added +0.1% | 4.3% |
| Amazon.com (AMZN) | $162m | 5.3% | Added +4.1% | 5.0% |
| NVIDIA (NVDA) | $142m | 4.7% | Trimmed -0.2% | 4.5% |
| CVS Health (CVS) | $128m | 4.2% | Trimmed -9.0% | 3.6% |
| Norwegian Cruise Line Holdings (NCLH) | $127m | 4.2% | Added +4.9% | 3.9% |
| QXO (QXO) | $123m | 4.0% | Added +5.3% | 4.8% |
| Energy Transfer LP (ET) | $116m | 3.8% | Trimmed -0.1% | 4.3% |
| IAC (PPLI) | $112m | 3.7% | Trimmed -10% | 4.0% |
| Precigen (PGEN) | $109m | 3.6% | Added +6.8% | 2.5% |
| United Airlines Holdings (UAL) | $99.5m | 3.3% | Trimmed -0.1% | 2.5% |
| Crocs (CROX) | $96.4m | 3.2% | Trimmed -5.2% | 2.6% |
| Meta Platforms (META) | $96.2m | 3.1% | Trimmed -0.2% | 3.6% |
| Chime Financial (CHYM) | $83.6m | 2.7% | Added +42% | 2.0% |
| Adobe (ADBE) | $74.0m | 2.4% | Added +22% | 2.6% |
| Seadrill (SDRL) | $73.9m | 2.4% | Trimmed -9.3% | 3.6% |
| Global Payments (GPN) | $68.4m | 2.2% | New | – |
| Coinbase Global (COIN) | $67.5m | 2.2% | Added +7.3% | 2.8% |
| Fidelity Wise Origin Bitcoin (FBTC) | $62.2m | 2.0% | Added +244% | 0.8% |
| Biogen (BIIB) | $61.3m | 2.0% | Trimmed -25% | 2.5% |
| Illumina (ILMN) | $60.7m | 2.0% | Trimmed -37% | 2.5% |
| General Motors (GM) | $48.7m | 1.6% | Trimmed -15% | 2.0% |
| UBS Group (UBS) | $47.3m | 1.6% | Trimmed -23% | 1.8% |
| Fiserv (FISV) | $46.8m | 1.5% | Trimmed -1.5% | 2.0% |
| Expedia Group (EXPE) | $42.9m | 1.4% | Added 0.0% | 1.4% |
| Onemain Holdings (OMF) | $42.8m | 1.4% | Trimmed -10% | 1.5% |
| Delta Air Lines (DAL) | $40.4m | 1.3% | Trimmed -22% | 1.3% |
| JD.com (JD) | $35.1m | 1.1% | Trimmed -1.6% | 1.5% |
| Sofi Technologies (SOFI) | $27.0m | 0.9% | Added +14% | 0.8% |
| Tempus Ai (TEM) | $23.2m | 0.8% | Trimmed -9.4% | 0.7% |
| JPMorgan Chase (JPM) | $9.6m | 0.3% | Trimmed 0.0% | 0.3% |
| Genius Sports (GENI) | $4.9m | 0.2% | New | – |
| Noble (NE) | $3.7m | 0.1% | Trimmed -93% | 2.4% |
| Dave & Buster's Entertainment (PLAY) | $2.3m | 0.1% | Trimmed -82% | 0.5% |
| APA (APA) | $1.6m | 0.1% | Unchanged | 0.1% |
| Lennar Corporation - B SHS (LEN/B) (LEN) | $1.1m | 0.0% | Unchanged | 0.0% |
| Spdr S&P 500 Etf Trust (SPY) | $792k | 0.0% | Trimmed -4.9% | 0.0% |
| Ishares Bitcoin Trust Etf (IBIT) | – | – | Sold out | 1.6% |

Source: SEC filings, via moatshark (https://www.moatshark.com/m/patient-capital-management). Values traded and returns are estimates. Not investment advice. Built 2026-10-23.