Samantha McLemore
Patient Capital Management
2026Q1 brief
Samantha McLemore's $2.68B Patient Capital portfolio made a decisive pivot toward crypto and fintech in 2026Q1: COIN was more than doubled (+141% to 2.80%), FISV nearly quadrupled (+274% to 2.01%), and new position IBIT (BlackRock's Bitcoin ETF, 1.58%) was initiated alongside a reduction in the competing FBTC position (-55% to 0.78%) — a clear consolidation of Bitcoin exposure into the iShares wrapper. New stake in ADBE (2.70%) is notable as a contrarian call on a software name under AI pressure. Meanwhile, MAT (2.14%), BABA (0.57%), and PTON (0.45%) were all exited, suggesting a clearing of legacy contrarian bets that haven't paid off. Royalty Pharma holds at 6.5% as the top position, providing defensive cash-flow ballast. The simultaneous ramp in COIN and IBIT alongside exits in more speculative names reflects a maturing rather than expanding risk posture. Watch UNH (4.41%) — if she adds to the pressured managed-care name next quarter, it signals deep-value conviction in healthcare.
AI-generated. Not investment advice.
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 |
- 1RPRX6.5%$175MRoyalty Pharma Plcthis Q hold·10q
- 2C6.0%$160MCitigroup Incthis Q hold·17q
- 3GOOGL5.7%$154MAlphabet Inc-cl Athis Q hold·18q
- 4AMZN5.1%$136MAmazon.com Incthis Q hold·18q
- 5QXO4.9%$132MQxo Incthis Q hold·7q
- 6NVDA4.6%$124MNvidia Corpthis Q hold·9q
- 7UNH4.4%$118MUnitedhealth Group Incthis Q hold·4q
- 8ET4.4%$118MEnergy Transfer LPthis Q hold·18q
- 9IAC4.0%$108MIac Incthis Q hold·12q
- 10NCLH4.0%$108MNorwegian Cruise Line Hldgsthis Q hold·18q
- 11SDRL3.7%$98MSeadrill Ltdthis Q hold·10q
- 12META3.6%$98MMeta Platforms Inc-class Athis Q hold·18q
- 13CVS3.6%$97MCvs Health Corpthis Q hold·11q
- 14COIN2.8%$75MCoinbase Global Inc -class Athis Q +141%·17q
- 15ADBE2.7%$72MAdobe Incthis Q New·—1q
- 16CROX2.6%$70MCrocs Incthis Q hold·10q
- 17BIIB2.6%$70MBiogen Incthis Q -34%·9q
- 18PGEN2.6%$69MPrecigen Incthis Q hold·18q
- 19UAL2.5%$67MUnited Airlines Holdings Incthis Q hold·16q
- 20ILMN2.5%$67MIllumina Incthis Q hold·10q
- 21NE2.5%$66MNoble Corp Plcthis Q hold·4q
- 22GM2.1%$55MGeneral Motors COthis Q hold·18q
- 23FISV2.0%$54MFiserv Incthis Q +274%·15q
- 24CHYM2.0%$54MChime Financial Inc-cl Athis Q +42%·2q
- 25UBS1.8%$49MUbs Group AGthis Q hold·13q
- 26IBIT1.6%$42MIshares Bitcoin Trust Etfthis Q New·—1q
- 27OMF1.6%$42MOnemain Holdings Incthis Q hold·18q
- 28JD1.5%$41MJd.com Inc-adrthis Q +66%·6q
- 29EXPE1.4%$39MExpedia Group Incthis Q hold·16q
- 30DAL1.4%$37MDelta Air Lines Incthis Q hold·18q
- 31SOFI0.8%$21MSofi Technologies Incthis Q hold·18q
- 32FBTC0.8%$21MFidelity Wise Origin Bitcointhis Q -55%·9q
- 33TEM0.7%$20MTempus AI Inc-cl Athis Q hold·4q
- 34PLAY0.5%$12MDave & Buster's Entertainmenthis Q -31%·7q
- 35JPM0.3%$9MJpmorgan Chase & COthis Q hold·18q
- 36APA0.1%$2MApa Corpthis Q hold·6q
- 37LEN/B<0.1%$1MLennar Corp - B Shsthis Q hold·16q
- 38SPY<0.1%$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
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001854794). Not investment advice.