SCHEDULE: Endure Capital Discloses 9.3% Stake in Patria Investments

Endure Capital Management and Ryan Simes have filed a Schedule 13G reporting a combined 9.3% beneficial ownership stake in Patria Investments Limited.

Summary

• Endure Capital Management, LLC, Enduring Alpha Fund, LP, Endure Capital GP, LP, and Ryan Simes have filed a joint Schedule 13G regarding their holdings in Patria Investments Limited.
• The reporting persons collectively beneficially own 6,360,930 Class A common shares of the issuer.
• This aggregate ownership represents approximately 9.3% of the total outstanding Class A common shares, based on 68,448,417 shares outstanding as of March 31, 2026.
• The holdings include 20,500 shares that may be acquired within 60 days through the exercise of call options.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral regulatory disclosure of existing investment positions with no indication of strategic shifts or activist intent.

Positives

• The reporting persons have certified that the securities were not acquired for the purpose of changing or influencing the control of the issuer.
• The filing provides transparency regarding the beneficial ownership structure involving multiple related entities and an individual.

Negatives

• The filing indicates a significant concentration of ownership (9.3%) by a single investment group, which may lead to future volatility if the group decides to adjust its position.

Risks

• Market risk associated with the underlying performance of Patria Investments Limited.
• Potential liquidity risks if the reporting persons attempt to dispose of a large block of shares.

Future Outlook

The reporting persons have explicitly stated that the securities are not held for the purpose of changing or influencing the control of the issuer, suggesting a passive investment stance.

Industry Context

StockSavvy.ai notes that this filing reflects standard institutional disclosure requirements for investment managers holding significant positions in publicly traded asset management firms like Patria Investments.

Comparison to Industry Standards

• The filing adheres to standard SEC Schedule 13G requirements for passive investors holding over 5% of a company's equity.
• The disclosure of call options and IRA holdings is consistent with best practices for comprehensive beneficial ownership reporting.

Related Party Transactions

• The filing discloses the relationship between Endure Capital Management, Enduring Alpha Fund, Endure Capital GP, and Ryan Simes as a group of reporting persons.

Stakeholder Impact

• Shareholders may view the accumulation of a 9.3% stake by an institutional investor as a sign of confidence in the issuer's long-term value.

Next Steps

• The reporting persons will be required to file amendments to this Schedule 13G if there are material changes in the percentage of shares owned.

Key Dates

Keywords

Patria Investments, Schedule 13G, Beneficial Ownership, Endure Capital, Institutional Investor, Class A Common Shares