Patient Capital Management

Our contrarian, opportunistic approach looks beyond traditional value metrics to generate alpha through Time, not Timing.

[Patient Capital Management @PatientCM]

Last week, Founder & CIO, Samantha McLemore, CFA joined @TheJudgeCNBC on @CNBCClosingBell.

Are we in a bubble? Has it gone too far? That question has been circulating for over a year.

"We've mostly just seen the moves track the earnings."

With a strong earnings season underway, she sees this as a secular bull market, not a bubble and believes valuations are keeping pace with fundamentals.

Watch the full segment on our website: https://t.co/9YIvZcPFov

Read her full quote in CNBC's live market update:
https://t.co/Rb5qgIMFBg

[Patient Capital Management @PatientCM]

Happening today!

@SamanthaMcLemor will join @TheJudgeCNBC on
@CNBCClosingBell.

Tune in at 3:45pm ET to watch live!

[Patient Capital Management @PatientCM]

Our Founder and CIO, @SamanthaMcLemor, is heading back to CNBC's Closing Bell with Scott Wapner this Wednesday, May 6th in the 3pm ET hour.

Tune in to hear her live market outlook amid ongoing volatility, her read on the Tech/AI trade, and the sectors and stocks she thinks investors should have their eye on right now.

[Patient Capital Management @PatientCM]

In Case You Missed It! Our 1Q 2026 Webinar Replay is now available.

A few of our top takeaways:
➡️ The secular bull market is still intact: Despite headlines and macro noise, the underlying signal remains strong.
➡️ Earnings are the key driver: Market strength is coming from unusually strong corporate earnings growth, not multiple expansion.
➡️ Volatility is more often an opportunity than a risk: Pullbacks create the best entry points. The real risk is permanent capital loss, not short-term price moves.
➡️ Dispersion is creating a stock picker's market: Extreme moves across sectors and individual names are creating one of the most attractive environments for active management in years.

🔗 Watch the full replay to hear @SamanthaMcLemor and @Christy_Malbon discuss compelling risk-reward opportunities like $ADBE, $RPRX, $PGEN, and $AMZN: https://t.co/njqzwvnBzd

[Patient Capital Management @PatientCM]

JOIN US TODAY at 4:15 PM ET for our Q1 2026 webinar.

@SamanthaMcLemor and @Christy_Malbon break down a volatile quarter where energy exposure drove results while AI-related fears weighed on parts of the market. They also share where they’re finding high-conviction opportunities today across software, biotech, healthcare, and more.

REGISTER HERE: https://t.co/462V5oc3vb

[Patient Capital Management @PatientCM]

REMINDER – COMING UP!  Join our Q1 2026 Webinar Tuesday, April 21st at 4:15PM ET! 🔗➡️ REGISTER HERE: https://t.co/3BfJ4yfRKe

Buying when prices are too low works! Private credit, software, crypto: prices were hit hard in the quarter. Are they low enough?

Tune into our webinar to hear where we see risk, our view on the secular bull market and where we're finding the best opportunities now. ⌛ 📈

[Patient Capital Management @PatientCM]

Q1 2026: A market defined by geopolitical shock rewarded those who stayed the course.

$NE, $SDRL & $ET led as our large energy exposure (2.7x the S&P500) gained traction.

Used the “SaaS-pocalypse” to initiate a position in $ADBE.

Active share 93.9% | Top 10 holdings = 53.4%

Full letter here ➡️ https://t.co/vw6oGbNcsv

[Patient Capital Management @PatientCM]

Since the secular bull market began in March 2009, the S&P 500 has declined at least 5% 31 times, or nearly twice a year.

Our Founder and CIO, Samantha McLemore, writes in her Q1 2026 commentary that “volatility occurs regularly and usually represents a buying opportunity.” She outlines why she believes the bull market remains intact, how the recent selloff has impacted valuations, and where she is finding opportunity today; including a well-known company down more than 65% from its 2021 peak.

Read the full commentary here: https://t.co/XNKWbkfEnS

[Patient Capital Management @PatientCM]

Q1 2026: Iran War, Oil Shock, and a Sharp Rotation Away from Last Year's Leaders.

Markets don't move in straight lines. Q1 2026 was a reminder of exactly that.

The S&P 500 fell -4.4%, declining -9.8% peak to trough, its 32nd correction greater than 5% since 2009.

Energy stole the show, gaining 38.3%. 6 of 11 sectors posted positive returns. Financials lagged, falling -9.5%.

Value outperformed Growth for the second consecutive quarter. Russell 1000 Value +2.1% vs. Russell 1000 Growth -9.8%.

Gold +7.8%. Oil +76.6%. Bitcoin slid for the second consecutive quarter falling -22.2%.

Details: https://t.co/i1TH7mZzgP

[Patient Capital Management @PatientCM]

SAVE THE DATE for our Q1 2026 Webinar!

From dislocations in software to stress in private credit and rising geopolitical tension, market swings have been dramatic. In some areas, we believe those moves may be going too far.

We’ll share where we’re leaning in and how we’re positioning for long-term alpha.

Be sure to submit your questions for the Q&A when you register.

Register here to join us: https://t.co/3BfJ4ygpzM

[Patient Capital Management @PatientCM]

Historically, markets have rallied (+.75%) and oil prices have fallen (-6.10%) on the first day of a geopolitical attack, a reflection of the market's role as a forward-looking discounting mechanism.

Looking further out, the data is even more encouraging. Most attacks have not historically caused prolonged market pain. Over a 1-year time horizon, markets and oil have been higher 75% of the time, with the S&P averaging a 12.5% return and oil 27.1% one year after an attack.

The next few months may remain volatile and unpredictable, but long-term investors have historically been rewarded for staying the course.

[Patient Capital Management @PatientCM]

As our Founder & CIO Sam notes below, the growing narrative around an AI spending “bubble” may be premature.

Looking at prior transformational infrastructure buildouts puts today��s AI investment in perspective. AI spending is currently around ~1% of GDP — compared with peak railroad spending near ~6% and internet investment around ~4%.

In our recent webinar, we unpack these insights and what they may mean for long-term positioning.

Full webinar replay here: https://t.co/AnEmsutTvD

[Samantha McLemore @SamanthaMcLemor]

Every day brings new headlines about a massive “AI spending bubble.”

Amazon planning ~$200B in CapEx.

Alphabet near ~$180B.

Roughly ~$700B in total AI-related investment expected this year (market estimates).

The narrative: AI CAPEX = bubble.

The spending numbers are large, to be sure. But does this spend indicate a peak?

History suggests otherwise.

At peak buildout:

• Railroad CapEx reached~6% of GDP

• Internet infrastructure hit ~4% of GDP

• AI investment today sits at ~1% of GDP.

In other words — if history is a guide, the AI investment cycle may still have meaningful room to run.

#Aicapex #valuations #GDP #valueinvesting #aibubble

[Patient Capital Management @PatientCM]

High valuation dispersion can be a constructive backdrop for disciplined stock selection.

When dispersion rises, differences between price and intrinsic value become more visible and more investable. Periods like this tend to reward patience and selectivity.

We explore this dynamic and other market developments in our quarterly webinar series. The latest recording is available here: https://t.co/ADAce4uMPd

@SamanthaMcLemor @Christy_Malbon

[Patient Capital Management @PatientCM]

Q4 2025 Webinar Replay!

This is a stock picker’s market.

Our latest outlook + high-conviction takes on $CROX, $AMZN, $COIN, and a live Q&A with @SamanthaMcLemor & @Christy_Malbon

WATCH the replay here! https://t.co/AnEmsuurlb

[Patient Capital Management @PatientCM]

Today is the day! 📈 🗓️

Join Samantha McLemore, CFA and Christina Siegel Malbon, CFA at 4:15pm ET for a live recap of Q4 2025. Following a year where the S&P 500 returned 17.7%, we'll break down how Patient Opportunity Equity Strategy achieved a 26.1% return by identifying opportunities the broader market missed.

We will dive into where we see upside and how we are positioned going forward.

Register here to join and submit your questions for the live Q&A: https://t.co/go9qxX3dv6

Can't make it? Request a replay: https://t.co/Ek2kn5nps0

For additional information and full performance returns click here: https://t.co/JzgDHSPHpA

[Patient Capital Management @PatientCM]

Q4 2025: Strong returns don’t always come from obvious places.

$PGEN, $GOOGL & $ILMN were among our top contributors.

Crypto exposed names lagged with $COIN and $FBTC top detractors.

Read our full Q4 Portfolio Activity & Attribution letter ➡️https://t.co/donWdqTr1I

[Patient Capital Management @PatientCM]

REMINDER - LESS THAN A WEEK AWAY!

Join us at our Q4 2025 webinar on Thursday, January 22nd at 4:15PM.

Questions may be submitted during registration.

🔗 Register here: https://t.co/go9qxX2FFy

[Patient Capital Management @PatientCM]

After a strong year for markets and a 26.1% gain in the Patient Opportunity Equity Strategy, Samantha McLemore’s final quarterly letter of 2025 explains how Patient Capital Management delivered outperformance. The result stands out in a year when 73% of equity mutual funds trailed their benchmarks.

Read the full letter on our website: https://t.co/DFEp8u3Cda

For additional information and full performance returns click here: https://t.co/JzgDHSP9A2