# Patient Capital Management, LLC

> Patient Capital Management, LLC is an SEC-registered investment advisory firm in Baltimore, MD, registered since 2020, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.

- CRD: 307336
- Filed as: PATIENT CAPITAL MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Baltimore, MD
- Filing period: October 2026
- Form ADV filing dated: March 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/307336
- AdvisorCensus page: https://advisorcensus.com/firm/patient-capital-management-llc-baltimore-md-307336

## Quick answers

**How is Patient Capital Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Patient Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Patient Capital Management, LLC located?**
Patient Capital Management, LLC's principal office is in Baltimore, MD, according to its Form ADV.

**Is Patient Capital Management, LLC registered with the SEC or a state?**
Patient Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 307336.

**How much does Patient Capital Management, LLC manage?**
Patient Capital Management, LLC reports $2,502,504,048 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary).

**How have Patient Capital Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Patient Capital Management, LLC: Regulatory assets under management: $62,620,437 in the October 2021 data and $2,502,504,048 in the October 2026 data, up 3896%. Total employees: 6 in October 2021 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Patient Capital Management, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (2); other investment advisers (2); investment companies (1).

**Which custodians does Patient Capital Management, LLC use?**
Patient Capital Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Northern Trust and State Street Corporation as custodians holding 10% or more of its separately managed account assets.

**Does Patient Capital Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/307336

**What changed in Patient Capital Management, LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $2,082,179,855 to $2,502,504,048 (+20%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Northern Trust
- State Street Corporation

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $2,502,504,048
- Discretionary: $2,500,031,085
- Non-discretionary: $2,472,963

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | Not reported |
| High net worth individuals | 2 | $89,499,585 |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 1 | $1,864,191,425 |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $207,190,188 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 0 | Not reported |
| State or municipal government entities (including government pension plans) | 1 | $296,431,499 |
| Other investment advisers | 2 | $45,191,351 |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 0 | Not reported |
| Other | 0 | Not reported |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Other

### Firm details
- Registered since: 2020 (6 years)
- Employees: 10 total, 4 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: MD, MO
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- patientcapitalmanagement.com
- LinkedIn @patient-capital-management-llc
- X @PatientCM
- YouTube @PatientCapitalManagement

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $62,620,437 | 6 | September 30, 2021 |
| October 2022 | $286,849,260 | 9 | September 28, 2022 |
| October 2023 | $1,759,376,840 | 10 | June 20, 2023 |
| October 2024 | $1,788,770,821 | 10 | March 29, 2024 |
| October 2025 | $2,082,179,855 | 10 | July 23, 2025 |
| October 2026 | $2,502,504,048 | 10 | March 27, 2026 |

Regulatory assets under management: $62,620,437 in the October 2021 data and $2,502,504,048 in the October 2026 data, up 3896%.
Total employees: 6 in October 2021 and 10 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $2,082,179,855 to $2,502,504,048 (+20%).

### November 2025
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Patient Capital Management, LLC (CRD 307336): Form ADV filing data as of October 2026.