Samantha McLemore
Patient Capital Management
Samantha McLemore (Patient Capital Management) discloses a $2.68B portfolio across 38 US-listed positions in the latest 13F filing (2026Q1, filed May 14, 2026). The largest holding is RPRX at 6.5% of the book. The biggest move of the quarter: added 141% to the COIN share count (position now $75M). Latticework's clone backtest puts this 13F book at -3.0%/yr vs SPY over 4.3 years.
About Samantha McLemore
Samantha McLemore founded Patient Capital Management after a long tenure at Legg Mason working alongside Bill Miller, whose influence is visible in the portfolio's structure: a moderate 38-position book with roughly 28% in the top five holdings, blending large-cap compounders like GOOGL and AMZN with more contrarian positions such as RPRX and C. The style is best described as concentrated-ish long-only value with a growth tolerance — willing to hold businesses that screen expensive on trailing multiples if the forward earnings power justifies it, a Miller inheritance. What a 13F reader should keep in mind: the disclosed long equity book is likely a reasonable representation of the strategy, since Patient Capital does not appear to run a significant parallel short or derivatives book, but the 45-day lag still matters for a portfolio this size. The clone backtest showing roughly -3% annual excess return versus SPY over four-plus years reflects a period when quality-growth crowding made that Miller-style flexibility a headwind rather than an edge.
2026Q1 brief
Samantha McLemore's Patient Capital runs a $2.68B, 38-position book with a contrarian growth-at-a-discount philosophy, and Q1 2026 reveals a striking pivot toward crypto and fintech. COIN more than doubled (+141%, now 2.8%) and FISV surged +274% (now 2.0%), while new positions in IBIT (1.6%, the Bitcoin ETF) and ADBE (2.7%) were established. Combined with the existing FBTC position (trimmed 55% but still held at 0.8%), McLemore is making a meaningful multi-instrument crypto allocation unusual among super-investors. The exits from MAT (2.1%), BABA (0.6%), and PTON (0.4%) clean out lower-conviction special situations. Top holdings RPRX (6.5%), C (6.0%), and GOOGL (5.7%) remain anchors. The UNH position at 4.4% is notable given sector stress—consistent with her mentor Bill Miller's distressed-quality approach. JD was added +66%, keeping some China exposure despite the BABA exit. Watch next filing: whether the crypto cluster (COIN, IBIT, FBTC) continues to grow as a unified thesis or gets trimmed on any Bitcoin rally.
AI-generated. Not investment advice.
In the news
all news →No recent news mentions of Samantha McLemore.
Headlines via Google News. Links open in a new tab.
Holdings (38) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | RPRX | 6.5% | $175M | |||
| 2 | C | 6.0% | $160M | |||
| 3 | GOOGL | 5.7% | $154M | |||
| 4 | AMZN | 5.1% | $136M | |||
| 5 | QXO | 4.9% | $132M | |||
| 6 | NVDA | 4.6% | $124M | |||
| 7 | UNH | 4.4% | $118M | |||
| 8 | ET | 4.4% | $118M | |||
| 9 | IAC | 4.0% | $108M | |||
| 10 | NCLH | 4.0% | $108M | |||
| 11 | SDRL | 3.7% | $98M | |||
| 12 | META | 3.6% | $98M | |||
| 13 | CVS | 3.6% | $97M | |||
| 14 | COIN | 2.8% | $75M | |||
| 15 | ADBE | 2.7% | $72M | |||
| 16 | CROX | 2.6% | $70M | |||
| 17 | BIIB | 2.6% | $70M | |||
| 18 | PGEN | 2.6% | $69M | |||
| 19 | UAL | 2.5% | $67M | |||
| 20 | ILMN | 2.5% | $67M | |||
| 21 | NE | 2.5% | $66M | |||
| 22 | GM | 2.1% | $55M | |||
| 23 | FISV | 2.0% | $54M | |||
| 24 | CHYM | 2.0% | $54M | |||
| 25 | UBS | 1.8% | $49M | |||
| 26 | IBIT | 1.6% | $42M | |||
| 27 | OMF | 1.6% | $42M | |||
| 28 | JD | 1.5% | $41M | |||
| 29 | EXPE | 1.4% | $39M | |||
| 30 | DAL | 1.4% | $37M | |||
| 31 | SOFI | 0.8% | $21M | |||
| 32 | FBTC | 0.8% | $21M | |||
| 33 | TEM | 0.7% | $20M | |||
| 34 | PLAY | 0.5% | $12M | |||
| 35 | JPM | 0.3% | $9M | |||
| 36 | APA | 0.1% | $2M | |||
| 37 | LEN/B | <0.1% | $1M | |||
| 38 | SPY | <0.1% | $726K |
- 1RPRXport6.5%val$175MRoyalty Pharma Plcthis Q hold·10q
- 2Cport6.0%val$160MCitigroup Incthis Q hold·17q
- port5.7%val$154MAlphabet Inc-cl Athis Q hold·18q
- 4AMZNport5.1%val$136MAmazon.com Incthis Q hold·18q
- 5QXOport4.9%val$132MQxo Incthis Q hold·7q
- 6NVDAport4.6%val$124MNvidia Corpthis Q hold·9q
- 7UNHport4.4%val$118MUnitedhealth Group Incthis Q hold·4q
- 8ETport4.4%val$118MEnergy Transfer LPthis Q hold·18q
- 9IACport4.0%val$108MIac Incthis Q hold·12q
- 10NCLHport4.0%val$108MNorwegian Cruise Line Hldgsthis Q hold·18q
- 11SDRLport3.7%val$98MSeadrill Ltdthis Q hold·10q
- 12METAport3.6%val$98MMeta Platforms Inc-class Athis Q hold·18q
- 13CVSport3.6%val$97MCvs Health Corpthis Q hold·11q
- 14COINport2.8%val$75MCoinbase Global Inc -class Athis Q +141%·17q
- 15ADBEport2.7%val$72MAdobe Incthis Q New·—1q
- 16CROXport2.6%val$70MCrocs Incthis Q hold·10q
- 17BIIBport2.6%val$70MBiogen Incthis Q -34%·9q
- 18PGENport2.6%val$69MPrecigen Incthis Q hold·18q
- 19UALport2.5%val$67MUnited Airlines Holdings Incthis Q hold·16q
- 20ILMNport2.5%val$67MIllumina Incthis Q hold·10q
- 21NEport2.5%val$66MNoble Corp Plcthis Q hold·4q
- 22GMport2.1%val$55MGeneral Motors COthis Q hold·18q
- 23FISVport2.0%val$54MFiserv Incthis Q +274%·15q
- 24CHYMport2.0%val$54MChime Financial Inc-cl Athis Q +42%·2q
- 25UBSport1.8%val$49MUbs Group AGthis Q hold·13q
- 26IBITport1.6%val$42MIshares Bitcoin Trust Etfthis Q New·—1q
- 27OMFport1.6%val$42MOnemain Holdings Incthis Q hold·18q
- 28JDport1.5%val$41MJd.com Inc-adrthis Q +66%·6q
- 29EXPEport1.4%val$39MExpedia Group Incthis Q hold·16q
- 30DALport1.4%val$37MDelta Air Lines Incthis Q hold·18q
- 31SOFIport0.8%val$21MSofi Technologies Incthis Q hold·18q
- 32FBTCport0.8%val$21MFidelity Wise Origin Bitcointhis Q -55%·9q
- 33TEMport0.7%val$20MTempus AI Inc-cl Athis Q hold·4q
- 34PLAYport0.5%val$12MDave & Buster's Entertainmenthis Q -31%·7q
- 35JPMport0.3%val$9MJpmorgan Chase & COthis Q hold·18q
- 36APAport0.1%val$2MApa Corpthis Q hold·6q
- 37LEN/Bport<0.1%val$1MLennar Corp - B Shsthis Q hold·16q
- 38SPYport<0.1%val$726KSS Spdr S&p 500 Etf Trust-usthis Q hold·7q
All activity (2026Q1)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| BIIB | Biogen Inc | TRIM | 2.6% | -34% | $70M |
| COIN | Coinbase Global Inc -class A | ADD | 2.8% | +141% | $75M |
| ADBE | Adobe Inc | NEW | 2.7% | +100% | $72M |
| FBTC | Fidelity Wise Origin Bitcoin | TRIM | 0.8% | -55% | $21M |
| MAT | Mattel Inc | EXIT | 2.1% | -100% | $0 |
| FISV | Fiserv Inc | ADD | 2.0% | +274% | $54M |
| CHYM | Chime Financial Inc-cl A | ADD | 2.0% | +42% | $54M |
| IBIT | Ishares Bitcoin Trust Etf | NEW | 1.6% | +100% | $42M |
| JD | Jd.com Inc-adr | ADD | 1.5% | +66% | $41M |
| PLAY | Dave & Buster's Entertainmen | TRIM | 0.5% | -31% | $12M |
| BABA | Alibaba Group Holding-sp Adr | EXIT | 0.6% | -100% | $0 |
| PTON | Peloton Interactive Inc-a | EXIT | 0.4% | -100% | $0 |
| YOU | Clear Secure Inc -class A | EXIT | 0.2% | -100% | $0 |
- TRIMBIIB2.6%Biogen IncΔ -34%·$70M
- ADDCOIN2.8%Coinbase Global Inc -class AΔ +141%·$75M
- NEWADBE2.7%Adobe IncΔ +100%·$72M
- TRIMFBTC0.8%Fidelity Wise Origin BitcoinΔ -55%·$21M
- EXITMAT2.1%Mattel IncΔ -100%·$0
- ADDFISV2.0%Fiserv IncΔ +274%·$54M
- ADDCHYM2.0%Chime Financial Inc-cl AΔ +42%·$54M
- NEWIBIT1.6%Ishares Bitcoin Trust EtfΔ +100%·$42M
- ADDJD1.5%Jd.com Inc-adrΔ +66%·$41M
- TRIMPLAY0.5%Dave & Buster's EntertainmenΔ -31%·$12M
- EXITBABA0.6%Alibaba Group Holding-sp AdrΔ -100%·$0
- EXITPTON0.4%Peloton Interactive Inc-aΔ -100%·$0
- EXITYOU0.2%Clear Secure Inc -class AΔ -100%·$0
Frequently asked questions
- What stocks does Samantha McLemore own?
- As of 2026Q1, Samantha McLemore's 13F discloses 38 positions worth $2.68B. The top five holdings: RPRX (6.5%), C (6.0%), GOOGL (5.7%), AMZN (5.1%), QXO (4.9%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Samantha McLemore buy this quarter?
- In 2026Q1, the filing shows 2 new positions and 4 additions to existing holdings. The largest positions touched by buying: COIN, ADBE, FISV, CHYM, IBIT.
- How big is Samantha McLemore's portfolio?
- $2.68B across 38 positions per the latest 13F (filed May 14, 2026). The top five holdings account for 28% of the disclosed book.
Explore more
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001854794). Not investment advice.