Patient Opportunity Trust
Actively managed U.S. stock fund
As of its 2026 Q2 report, Patient Opportunity Trust held 38 positions with $2.01B in net assets. Its ten largest holdings made up 54.8% of the fund. The LMORX share class costs 1.94% a year. Over the 12 months to May 2026, LMORX returned 46.6%, with dividends reinvested. In 2026 Q2 it added 5 new positions and exited 3.
The Patient Opportunity Trust (the Fund) seeks long term growth of capital.
The fund seeks long-term capital growth by identifying and exploiting what its manager believes are mispricings and inefficiencies across global markets, without restriction by investment style or asset class; it may hold equities of any size, debt securities including high-yield, derivatives, short positions, and up to 15% in cryptocurrency exchange-traded products. The fund is non-diversified and may concentrate assets in a smaller number of issuers. To access cryptocurrency and commodity derivatives while meeting regulatory requirements, the fund may invest up to 25% of assets in a wholly-owned Cayman Islands subsidiary that holds these exposures directly.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
Royalty Pharma PLC | 6.98% | $140.18M | 2.5M | $56.07 |
6.97% | $139.96M | 1.0M | $139.96 | |
GOOGLAlphabet Inc | 6.67% | $134.01M | 375.0K | $357.37 |
6.21% | $124.69M | 300.0K | $415.63 | |
AMZNAmazon.com Inc | 5.64% | $113.21M | 475.0K | $238.34 |
NVDANVIDIA Corp | 4.98% | $100.05M | 500.0K | $200.09 |
4.51% | $90.52M | 875.0K | $103.45 | |
QXOQXO Inc | 4.47% | $89.86M | 5.2M | $17.28 |
Norwegian Cruise Line Holdings | 4.21% | $84.44M | 4.0M | $21.11 |
Precigen Warrant Restricted | 4.19% | $84.18M | — | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 38 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 105.43% |
| Derivatives | 4.84% |
These positions come to 110.27% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
Derivatives are shown at market value, not notional exposure.
By sector
- Health Care
- 23.8%
- Financials
- 19.9%
- Communication Services
- 12.3%
- Consumer Discretionary
- 10.9%
- 5 other sectors
- 33.1%
- Health Care
- 23.8%
- Financials
- 19.9%
- Communication Services
- 12.3%
- Consumer Discretionary
- 10.9%
- Other
- 8.7%
- Industrials
- 8.6%
- Information Technology
- 6.7%
- International
- 5.5%
- Utilities
- 3.6%
How it has done
LMORX share class · total returns with dividends reinvested
Volatility over the last 12 months: 18.21%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 6 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.94% | +46.55% | — | — | — | |
| 1.74% | +46.85% | — | — | — | |
| 1.69% | +46.92% | — | — | — | |
| 1.39% | +47.35% | — | — | — | |
| 2.44% | +45.78% | — | — | — | |
| 1.33% | +47.44% | — | — | — |
These classes hold the same portfolio, so the 1.66pp spread over 1 year is the cost difference between them — roughly 1.66pp a year — not a difference in what they own.
Fees & fund details
Patient Opportunity Trust is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Non-diversified
- Expense ratio, by class
- 1.33% – 2.44%· LMORX 1.94%
- Portfolio turnover
- 27.00% a year · as of 2026 Q2
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
5 new
3 exited
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — LMORX, QQQ and the fund in my 401(k)?”
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