Philosophy Capital Management LLC In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Philosophy Capital Management LLC reported 33 stock positions worth $750.5 million . Its top holding was Golar LNG (GLNG) at 12.0% of the portfolio, followed by Caesars Entertainment (CZR, 7.1% ) and Energy Transfer (ET, 6.4% ). Compared with Q4 2024, it opened 7 new positions, sold out of 4, added to 19 and reduced 7. The biggest buy was Geo (GEO, shares +637% ) and the biggest sale an exit from Perrigo (PRGO).
Location Alamo, CA
CIK 0001869199
Portfolio Value $750.5M (Q1 2025) Holdings 33 stocks · $750.5M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 GLNG Golar LNG Ltd. 2,368,500 $90.0M Add +10.3% CZR Caesars Entertainment Inc. 2,123,834 $53.1M Add +4.3% ET Energy Transfer LP 2,568,231 $47.7M Add +1.9% TALO Talos Energy Inc. 4,251,212 $41.3M Add +11.5% TLN Talen Energy Corp. 193,788 $38.7M Add +7.7% NFE New Fortress Energy Inc. 4,362,138 $36.2M Add +154.3% GEO The Geo Group Inc. 1,180,251 $34.5M Add +637.1% CMCSA Comcast Corp. Class A 775,000 $28.6M New MTCH Match Group Inc. 910,923 $28.4M Add +160.3% BGC BGC Group Inc. Class A 2,991,533 $27.4M Add +1.1% ALIT Alight Inc. Class A 4,368,108 $25.9M Add +12.8% SBLK Star Bulk Carriers Corp. 1,519,259 $23.6M Add +10.1% SOLV Solventum Corp. 310,066 $23.6M Add +49.2% KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 239,054 $22.2M Add +19.5% DK Delek US Holdings Inc. 1,394,323 $21.0M Reduce -2.7% PUMP Propetro Holding Corp. 2,820,887 $20.7M Add +23.2% PRKS United Parks & Resorts Inc. 412,534 $18.8M Add +36.3% CPAY Corpay Inc. 50,713 $17.7M Reduce -0.6% TDAY USA Today Co. Inc. filed as GANNETT CO INC 5,885,461 $17.0M Add +9.9% BABA Alibaba Group Holding-SP ADR 121,840 $16.1M Reduce -17.6% SSNC Ss&c Technologies Holdings 167,638 $14.0M Add +9.0% WBA Walgreens Boots Alliance Inc. 1,239,645 $13.8M New BBIO Bridgebio Pharma Inc. 391,583 $13.5M New DLTR Dollar Tree Inc. 166,638 $12.5M Reduce -56.4% VRNT Verint Systems Inc. 569,623 $10.2M New FLUT Flutter Entertainment PLC-Di 43,324 $9.6M Reduce -56.7% JAKK Jakks Pacific Inc. 332,594 $8.2M Add +3.5% VYX NCR Voyix Corp. 753,463 $7.3M Reduce -49.5% ARVN Arvinas Inc. 996,032 $7.0M New OFIX Orthofix Medical Inc. 370,763 $6.0M New MRVI Maravai Lifesciences Hldgs-A 2,593,268 $5.7M New EVH Evolent Health Inc. Class A 521,192 $4.9M Reduce -46.0% LDI Loandepot Inc. Class A 4,141,164 $4.9M Add +73.3%
Options reported separately and not counted above: SPY puts ($279.7M), IWM puts ($275.1M), QQQ puts ($70.3M), CZR calls ($18.9M), NFE calls ($6.4M), GEO calls ($4.4M), GLNG calls ($2.0M).
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ PRGO Perrigo Co. PLC Sold out 0.00% −5.24 AQN Algonquin Power & Utilities Sold out 0.00% −2.61 FLUT Flutter Entertainment PLC-Di Reduce -56.7% 1.28% −2.21 DLTR Dollar Tree Inc. Reduce -56.4% 1.67% −2.19 VYX NCR Voyix Corp. Reduce -49.5% 0.98% −1.80 EYE National Vision Holdings Inc. Sold out 0.00% −1.60 DKL Delek Logistics Partners LP Sold out 0.00% −1.03 EVH Evolent Health Inc. Class A Reduce -46.0% 0.66% −0.81 DK Delek US Holdings Inc. Reduce -2.7% 2.80% −0.78 CPAY Corpay Inc. Reduce -0.6% 2.36% +0.03 BABA Alibaba Group Holding-SP ADR Reduce -17.6% 2.15% +0.45
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ GEO The Geo Group Inc. Add +637.1% 4.59% +3.99 CMCSA Comcast Corp. Class A New 3.81% +3.81 MTCH Match Group Inc. Add +160.3% 3.79% +2.24 WBA Walgreens Boots Alliance Inc. New 1.85% +1.85 BBIO Bridgebio Pharma Inc. New 1.80% +1.80 VRNT Verint Systems Inc. New 1.35% +1.35 NFE New Fortress Energy Inc. Add +154.3% 4.83% +1.33 SOLV Solventum Corp. Add +49.2% 3.14% +1.29 ARVN Arvinas Inc. New 0.93% +0.93 OFIX Orthofix Medical Inc. New 0.81% +0.81 MRVI Maravai Lifesciences Hldgs-A New 0.76% +0.76 TALO Talos Energy Inc. Add +11.5% 5.51% +0.51 KSPI JSC Kaspi.kz ADR Add +19.5% 2.96% +0.40 SBLK Star Bulk Carriers Corp. Add +10.1% 3.15% +0.37 SSNC Ss&c Technologies Holdings Add +9.0% 1.87% +0.29 TLN Talen Energy Corp. Add +7.7% 5.16% +0.26 PRKS United Parks & Resorts Inc. Add +36.3% 2.50% +0.20 BGC BGC Group Inc. Class A Add +1.1% 3.66% +0.04 LDI Loandepot Inc. Class A Add +73.3% 0.66% −0.00 PUMP Propetro Holding Corp. Add +23.2% 2.76% −0.12 JAKK Jakks Pacific Inc. Add +3.5% 1.09% −0.13 ALIT Alight Inc. Class A Add +12.8% 3.45% −0.16 GLNG Golar LNG Ltd. Add +10.3% 11.99% −0.27 ET Energy Transfer LP Add +1.9% 6.36% −0.30 TDAY USA Today Co. Inc. Add +9.9% 2.27% −1.39 CZR Caesars Entertainment Inc. Add +4.3% 7.07% −2.11
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ IVZ Invesco Ltd. put Sold out 6,150 $314.4Mbefore exit SPY SS SPDR S&P 500 ETF Trust-US put Reduce -34.2% 5,000 $279.7M IWM iShares Russell 2000 ETF put Add +175.8% 13,790 $275.1M QQQ Invesco QQQ Trust Series 1 put New 1,500 $70.3M CZR Caesars Entertainment Inc. call Add +1.8% 7,543 $18.9M NFE New Fortress Energy Inc. call Add +417.1% 7,756 $6.4M GEO The Geo Group Inc. call New 1,500 $4.4M PRGO Perrigo Co. PLC call Sold out 1,363 $3.5Mbefore exit GLNG Golar LNG Ltd. call Reduce -1.5% 536 $2.0M BHC Bausch Health Cos Inc. put Sold out 2,421 $2.0Mbefore exit AGNT Agnt Inc. put Sold out 1,579 $1.8Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 35 $1.0B COMP, GLNG, CXW, GLXY, VST Q1 2026 36 $858.1M GLNG, COMP, ET, SBLK, CXW Q4 2025 34 $854.1M GLNG, COMP, ET, KRC, PUMP Q3 2025 38 $864.0M GLNG, TLN, CZR, KRC, ET Q2 2025 33 $794.1M GLNG, CZR, TLN, ET, TALO Q1 2025 33 $750.5M GLNG, CZR, ET, TALO, TLN Q4 2024 30 $741.4M GLNG, CZR, ET, PRGO, TALO Q3 2024 23 $721.7M GLNG, CZR, TLN, PRGO, ET Q2 2024 Amended 22 $652.2M CZR, GLNG, PRGO, TLN, BGC Q1 2024 24 $511.2M BGC, GLNG, PRGO, ET, CZR