Patient Capital

Q2 2023 13F · by Samantha McLemore, CIO

As of: Jun 30, 2023
Filed: Aug 14, 2023
US stock: $1.8B · prev $223M
Positions: 44 · prev 41
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves41 since the prior filing

+8.0 pp in · −6.4 pp out

New 4 +3.39 pp
Added 33 +4.64 pp
Trimmed 3 −5.19 pp
Exited 1 −1.21 pp

The book

Focused · behaves like 29 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 1.5% a year, more than 30 years per position

Low
Moderate
High

Top 5 positions26% of US stock

Positions44 in this filing · 1 exited


AMZNAmazon.Com Inc	5.67%	782,191	$102M	added×9.6	+1.88 pp	7 q
EXPEExpedia Group, Inc.	5.52%	906,991	$99M	added×6.9	−0.17 pp	5 q
OMFOneMain Holdings, Inc.	5.28%	2,170,073	$95M	added×7.3	+0.35 pp	7 q
DALDelta Air Lines, Inc.	4.94%	1,866,885	$89M	added×8.9	+1.65 pp	7 q
GOOGLAlphabet Inc. Class A	4.15%	623,103	$75M	added×8.8	+0.84 pp	7 q
ETEnergy Transfer LP	3.99%	5,644,499	$72M	added×7.6	−0.15 pp	7 q
MATMattel, Inc.	3.97%	3,649,188	$71M	added×8.2	+0.31 pp	7 q
CCitigroup Inc.	3.86%	1,506,016	$69M	added×10.1	+0.74 pp	6 q
NCLHNorwegian Cruise Line Holdings Ltd.	3.75%	3,098,594	$67M	added×6.3	+0.77 pp	7 q
METAMeta Platforms, Inc. Class A	3.73%	233,550	$67M	added×5.5	−0.29 pp	7 q
GMGeneral Motors Company	3.50%	1,632,082	$63M	added×9.1	+0.55 pp	7 q
UALUnited Airlines Holdings, Inc.	3.39%	1,111,880	$61M	added×8.3	+0.72 pp	5 q
UBERUber Technologies, Inc.	3.34%	1,392,405	$60M	added×7.2	+0.60 pp	7 q
BABAAlibaba Group Holding Limited	3.11%	670,410	$56M	added×7.7	−0.89 pp	7 q
TNLTravel + Leisure Co.	2.83%	1,259,407	$51M	added×9.9	+0.59 pp	7 q
UBSUBS Group AG	2.81%	2,488,265	$50M	added×11.2	+0.68 pp	2 q
GOOSCanada Goose Holdings Inc.	2.80%	2,823,002	$50M	added×7.2	−0.58 pp	4 q
OVVOvintiv Inc.	2.75%	1,297,094	$49M	added×5.7	−0.95 pp	7 q
SPLKSplunk Inc	2.57%	434,606	$46M	added×8.2	+0.29 pp	7 q
COFCapital One Financial	2.55%	419,175	$46M	added×10.3	+0.79 pp	7 q
JPMJPMorgan Chase & Co.	2.49%	307,170	$45M	added×7.6	+0.12 pp	7 q
PPLIPeople Incorporated	2.39%	684,672	$43M	new	+2.39 pp	new
COINCoinbase Global, Inc. Class A	2.34%	587,359	$42M	added×8.1	+0.15 pp	6 q
EXEExpand Energy Corporation	2.33%	500,835	$42M	added×7.8	+0.13 pp	4 q
FTCHQFarfetch Limited A	2.32%	6,916,449	$42M	added×7.0	+0.15 pp	7 q
KRTXKaruna Therapeutics, Inc.	2.13%	176,826	$38M	added×7.6	+0.23 pp	7 q
SOFISoFi Technologies, Inc.	2.06%	4,435,864	$37M	added×9.4	+0.78 pp	7 q
FISVFiserv, Inc.	2.03%	289,609	$37M	added×5.4	−0.68 pp	7 q
CLFCleveland-Cliffs Inc.	1.86%	1,991,307	$33M	added×7.7	−0.26 pp	6 q
TMHCTaylor Morrison Home Corporation	1.61%	594,402	$29M	added×3.3	−1.44 pp	7 q
PTONPeloton Interactive, Inc. Class A	1.21%	2,817,528	$22M	added×8.5	−0.47 pp	3 q
WALWestern Alliance Bancorporation	0.90%	441,407	$16M	new	+0.90 pp	new
PGENPrecigen, Inc.	0.72%	11,243,560	$13M	added×7.7	+0.02 pp	7 q
RKTRocket Companies, Inc.	0.25%	492,600	$4M	trimmed−3%	−1.81 pp	7 q
SFIXStitch Fix, Inc. Class A	0.18%	856,900	$3M	added+34%	−1.28 pp	4 q
DXCDXC Technology Company	0.15%	102,850	$3M	added+71%	−0.54 pp	7 q
TEVATeva Pharmaceutical Industries Limited	0.13%	306,054	$2M	trimmed−51%	−2.36 pp	7 q
Farfetch Ltdconvertible	0.09%	2,000,000	$2M	new	+0.09 pp	new
LEN.BLennar Corporation Class B	0.08%	12,500	$1M	held	—	5 q
FANGDiamondback Energy, Inc.	0.07%	10,000	$1M	held	—	7 q
VNTVontier Corporation	0.07%	40,000	$1M	held	—	7 q
BACBank of America Corporation	0.04%	25,000	$717,250	held	—	7 q
ADTADT Inc.	0.03%	100,000	$603,000	trimmed−69%	−1.02 pp	7 q
BRLTBrilliant Earth Group, Inc. Class A	0.01%	51,368	$199,308	new	+0.01 pp	new
QUOTQuotient Technology Inc	—	−819,400	—	exited	−1.21 pp	—