2 managers · $166M totalData: SEC EDGAR 13F · 2026Q2
Manager holders · last 5 qtrsⓘ
2
2025Q2 – 2026Q2 · flat QoQ
Total position
$166M
Combined value across tracked managers
Net move this quarter
↓ Trimming
Weighted by holders' share change
HolderQ actionValue% of port.Style
Patient CapitalⓘTrim-5.15%$96M3.16%Contrarian growth-value / Time arbitrage
Punch CardTrim-2.93%$70M27.2%Ultra-concentrated / Deep value
What managers sayⓘ
2026-08-24Patient Capital ManagementBearOpportunity Equity Strategy Update for 8/14/2026 – 8/21/2026Detail →
2026-08-04Patient Capital ManagementNeutralOpportunity Equity Strategy Update for 7/24/2026 – 7/31/2026Detail →
2026-07-14Patient Capital ManagementBullOpportunity Equity Strategy Update for 07/02/2026 – 07/10/2026Detail →
2026-04-09Patient Capital ManagementBull“The Worst Brings Out the Best in Us” - Dr. Edith EgerDetail →
2026-01-27Patient Capital ManagementBull4Q25 Quarterly WebinarDetail →
2026-01-14Patient Capital ManagementBullThe More Things Change, The More They Stay The SameDetail →
2025-10-10Patient Capital ManagementBull3Q25 Portfolio RecapDetail →
2025-10-10Patient Capital ManagementBull3Q25 Portfolio Activity & AttributionDetail →
Earnings Callsⓘ
Q2 2026August 7, 2026
›
Strong results beat expectations, with broad demand across both brands and solid execution.
Company revenue hit a record $1.2B, up 2%; Crocs brand surpassed $1B for the first time, up 4%; HEYDUDE down 6%; EPS $4.55, up 8%.
Crocs DTC up 12%, international up 7%, and North America returned to growth; HEYDUDE DTC up 7%, wholesale still in adjustment. Beach clogs are selling well, running at an annualized run rate of roughly $500M, with TikTok Shop social commerce gaining momentum.
Full-year guidance raised: company revenue +1%–2%, Crocs +2%–3%, HEYDUDE -2%–-4%, EPS raised to $13.70–$14. However, starting in Q3, revenue recognition methodology will change, with some DTC shifting to wholesale, slightly lowering total reported revenue—no impact on the underlying business.
Key positives: an additional $1.5B buyback authorized and strong cash generation; key risk: tariffs continue to pressure gross margin.