Patient Opportunity Equity Fund Posts 14.1% Q3 Return, Initiates New Positions in UNH, CROX, MAT, IAC, and BIIB

Patient Opportunity Equity Strategy outperformed the S&P 500 in Q3 with a 14.1% return compared to the S&P 500's 8.1%. The fund's YTD gains are 18.9% vs. the S&P 500's 14.8%. New positions were initiated in UNH, CROX, MAT, IAC, and BIIB.

The Patient Opportunity Equity Strategy delivered a strong performance during the third quarter of 2025, posting a total return of 14.1% net of fees, compared to the S&P 500 Index's 8.1% return. This marks the fund's third consecutive quarter of outperformance, with year-to-date (YTD) gains of 18.9% versus the S&P 500's 14.8%. The strategy's success can be attributed to strategic positioning and a focus on long-term fundamentals.

The Patient Opportunity Equity Strategy's top contributors to performance included Alphabet Inc. (GOOGL), Alibaba Group Holdings (BABA), and Precigen Inc. (PGEN). These positions, held for extended periods, benefited from significant market shifts and regulatory clarity. For instance, Alphabet Inc. gained regulatory clarity, while Alibaba unveiled aggressive AI investment plans, driving their respective stock prices higher. Precigen Inc. saw substantial gains following the FDA approval of Papzimeos, a treatment for recurrent respiratory papillomatosis (RRP), with the company's CEO Dr. Helen Sabzevari leading the charge.

Conversely, Dave & Buster's Entertainment Inc. (PLAY) and QXO Inc. (QXO) were notable detractors. Dave & Buster's faced a sell-off due to weaker trends in the third quarter, while QXO Inc. encountered market concerns over weakening construction activity. Despite these challenges, the strategy's focus on long-term fundamentals and experienced management teams has proven resilient.

The Patient Opportunity Equity Strategy's active management approach is evident in its sector allocation. The strategy was overweight in Consumer Discretionary, Communication Services, Financials, Energy, Industrials, and Health Care sectors, while underweight in Real Estate, Utilities, Materials, Consumer Staples, and Information Technology. This strategic allocation contributed to the fund's outperformance.

The strategy's portfolio review highlights its long-term investment horizon and focus on companies with durable competitive advantages, large addressable markets, and world-class management teams. The Patient Opportunity Equity Strategy's ability to identify undervalued opportunities and capitalize on market sentiment reversals has been a key driver of its success.

As the Patient Opportunity Equity Strategy continues to navigate market volatility, its focus on fundamental analysis and long-term investment principles remains steadfast. The strategy's recent performance underscores its potential for investors seeking a balanced approach to equity investing.