Philosophy Capital Management LLC In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Philosophy Capital Management LLC reported 33 stock positions worth $794.1 million . Its top holding was Golar LNG (GLNG) at 13.4% of the portfolio, followed by Caesars Entertainment (CZR, 7.4% ) and Talen Energy (TLN, 7.3% ). Compared with Q1 2025, it opened 6 new positions, sold out of 6, added to 17 and reduced 6. The biggest buy was a new position in P G & E (PCG) and the biggest sale an exit from Alibaba Group Holding-SP ADR (BABA).
Location Alamo, CA
CIK 0001869199
Portfolio Value $794.1M (Q2 2025) Holdings 33 stocks · $794.1M 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 Q1 2025 GLNG Golar LNG Ltd. 2,590,866 $106.7M Add +9.4% CZR Caesars Entertainment Inc. 2,079,361 $59.0M Reduce -2.1% TLN Talen Energy Corp. 200,000 $58.2M Add +3.2% ET Energy Transfer LP 2,568,231 $46.6M No change TALO Talos Energy Inc. 4,485,413 $38.0M Add +5.5% GEO The Geo Group Inc. 1,539,742 $36.9M Add +30.5% MTCH Match Group Inc. 1,150,451 $35.5M Add +26.3% PCG P G & E Corp. 1,927,196 $26.9M New SBLK Star Bulk Carriers Corp. 1,547,777 $26.7M Add +1.9% ALIT Alight Inc. Class A 4,618,101 $26.1M Add +5.7% CMCSA Comcast Corp. Class A 665,746 $23.8M Reduce -14.1% SOLV Solventum Corp. 310,066 $23.5M No change TDAY USA Today Co. Inc. filed as GANNETT CO INC 5,885,461 $21.1M No change PUMP Propetro Holding Corp. 3,526,953 $21.1M Add +25.0% CPAY Corpay Inc. 63,213 $21.0M Add +24.6% KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 240,154 $20.4M Add +0.5% BGC BGC Group Inc. Class A 1,802,106 $18.4M Reduce -39.8% BBIO Bridgebio Pharma Inc. 426,583 $18.4M Add +8.9% NFE New Fortress Energy Inc. 5,242,063 $17.4M Add +20.2% KRC Kilroy Realty Corp. 502,375 $17.2M New PRKS United Parks & Resorts Inc. 357,818 $16.9M Reduce -13.3% WBA Walgreens Boots Alliance Inc. 1,439,645 $16.5M Add +16.1% GLXY Galaxy Digital Inc. Class A 700,000 $15.3M New SSNC Ss&c Technologies Holdings 182,638 $15.1M Add +8.9% DK Delek US Holdings Inc. 650,000 $13.8M Reduce -53.4% FLUT Flutter Entertainment PLC-Di 37,192 $10.6M Reduce -14.2% OFIX Orthofix Medical Inc. 845,280 $9.4M Add +128.0% CXW Corecivic Inc. 417,062 $8.8M New JAKK Jakks Pacific Inc. 373,859 $7.8M Add +12.4% MRVI Maravai Lifesciences Hldgs-A 2,593,268 $6.2M No change LDI Loandepot Inc. Class A 4,210,201 $5.3M Add +1.7% HUDSON PAC PPTYS INC 1,292,385 $3.5M New TH Target Hospitality Corp. 254,493 $1.8M New
Options reported separately and not counted above: SPY puts ($648.7M), QQQ puts ($331.0M), IWM puts ($226.6M), PCG calls ($30.7M), GEO calls ($3.6M), ALIT calls ($3.1M), CZR calls ($696K), NFE calls ($96K).
Portfolio Sells Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▲ BABA Alibaba Group Holding-SP ADR Sold out 0.00% −2.15 DLTR Dollar Tree Inc. Sold out 0.00% −1.67 VRNT Verint Systems Inc. Sold out 0.00% −1.35 BGC BGC Group Inc. Class A Reduce -39.8% 2.32% −1.33 DK Delek US Holdings Inc. Reduce -53.4% 1.73% −1.07 VYX NCR Voyix Corp. Sold out 0.00% −0.98 ARVN Arvinas Inc. Sold out 0.00% −0.93 CMCSA Comcast Corp. Class A Reduce -14.1% 2.99% −0.82 EVH Evolent Health Inc. Class A Sold out 0.00% −0.66 PRKS United Parks & Resorts Inc. Reduce -13.3% 2.12% −0.37 FLUT Flutter Entertainment PLC-Di Reduce -14.2% 1.34% +0.06 CZR Caesars Entertainment Inc. Reduce -2.1% 7.43% +0.36
Portfolio Buys Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▼ PCG P G & E Corp. New 3.38% +3.38 KRC Kilroy Realty Corp. New 2.17% +2.17 TLN Talen Energy Corp. Add +3.2% 7.32% +2.17 GLXY Galaxy Digital Inc. Class A New 1.93% +1.93 GLNG Golar LNG Ltd. Add +9.4% 13.44% +1.45 CXW Corecivic Inc. New 1.11% +1.11 MTCH Match Group Inc. Add +26.3% 4.48% +0.69 BBIO Bridgebio Pharma Inc. Add +8.9% 2.32% +0.52 HUDSON PAC PPTYS INC New 0.45% +0.45 OFIX Orthofix Medical Inc. Add +128.0% 1.19% +0.38 CPAY Corpay Inc. Add +24.6% 2.64% +0.29 WBA Walgreens Boots Alliance Inc. Add +16.1% 2.08% +0.24 TH Target Hospitality Corp. New 0.23% +0.23 SBLK Star Bulk Carriers Corp. Add +1.9% 3.36% +0.21 GEO The Geo Group Inc. Add +30.5% 4.64% +0.05 SSNC Ss&c Technologies Holdings Add +8.9% 1.90% +0.04 LDI Loandepot Inc. Class A Add +1.7% 0.67% +0.02 PUMP Propetro Holding Corp. Add +25.0% 2.65% −0.11 JAKK Jakks Pacific Inc. Add +12.4% 0.98% −0.11 ALIT Alight Inc. Class A Add +5.7% 3.29% −0.16 KSPI JSC Kaspi.kz ADR Add +0.5% 2.57% −0.39 TALO Talos Energy Inc. Add +5.5% 4.79% −0.72 NFE New Fortress Energy Inc. Add +20.2% 2.19% −2.64
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Add +110.0% 10,500 $648.7M QQQ Invesco QQQ Trust Series 1 put Add +300.0% 6,000 $331.0M IWM iShares Russell 2000 ETF put Reduce -23.9% 10,500 $226.6M PCG P G & E Corp. call New 22,000 $30.7M ALIT Alight Inc. Class A call New 5,410 $3.1M GLNG Golar LNG Ltd. call Sold out 536 $2.0Mbefore exit CZR Caesars Entertainment Inc. call Reduce -96.8% 245 $696K NFE New Fortress Energy Inc. call Reduce -96.3% 290 $96K
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