Philosophy Capital Management LLC In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Philosophy Capital Management LLC reported 38 stock positions worth $864.0 million . Its top holding was Golar LNG (GLNG) at 11.3% of the portfolio, followed by Talen Energy (TLN, 9.8% ) and Caesars Entertainment (CZR, 5.4% ). Compared with Q2 2025, it opened 9 new positions, sold out of 4, added to 11 and reduced 12. The biggest buy was Kilroy Realty (KRC, shares +117% ) and the biggest sale Alight Class A (ALIT, shares −81% ).
Location Alamo, CA
CIK 0001869199
Portfolio Value $864.0M (Q3 2025) Holdings 38 stocks · $864.0M 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 Q2 2025 GLNG Golar LNG Ltd. 2,421,861 $97.9M Reduce -6.5% TLN Talen Energy Corp. 200,000 $85.1M No change CZR Caesars Entertainment Inc. 1,741,738 $47.1M Reduce -16.2% KRC Kilroy Realty Corp. 1,089,527 $46.0M Add +116.9% ET Energy Transfer LP 2,538,231 $43.6M Reduce -1.2% GEO The Geo Group Inc. 1,980,498 $40.6M Add +28.6% PCG P G & E Corp. 2,128,052 $32.1M Add +10.4% TALO Talos Energy Inc. 3,205,077 $30.7M Reduce -28.5% COMP Compass Inc. Class A 3,364,449 $27.0M New SBLK Star Bulk Carriers Corp. 1,450,000 $27.0M Reduce -6.3% TDAY USA Today Co. Inc. filed as GANNETT CO INC 6,288,119 $26.0M Add +6.8% CPAY Corpay Inc. 88,213 $25.4M Add +39.5% SOLV Solventum Corp. 343,998 $25.1M Add +10.9% HUDSON PAC PPTYS INC 8,669,493 $23.9M Add +570.8% GLXY Galaxy Digital Inc. Class A 700,000 $23.7M No change PUMP Propetro Holding Corp. 4,047,280 $21.2M Add +14.8% CMCSA Comcast Corp. Class A 665,746 $20.9M No change CXW Corecivic Inc. 1,021,373 $20.8M Add +144.9% BBIO Bridgebio Pharma Inc. 385,000 $20.0M Reduce -9.8% PRKS United Parks & Resorts Inc. 357,818 $18.5M No change MTCH Match Group Inc. 420,000 $14.8M Reduce -63.5% ICLR Icon PLC 79,634 $13.9M New OFIX Orthofix Medical Inc. 883,608 $12.9M Add +4.5% RKT Rocket Cos Inc. Class A 630,304 $12.2M New MCY Mercury General Corp. 138,925 $11.8M New KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 143,704 $11.7M Reduce -40.2% AEXA American Exceptionalism Class A 1,000,000 $10.9M New NFE New Fortress Energy Inc. 4,404,731 $9.7M Reduce -16.0% FLUT Flutter Entertainment PLC-Di 37,192 $9.4M No change NWL Newell Brands Inc. 1,561,835 $8.2M New SSNC Ss&c Technologies Holdings 88,501 $7.9M Reduce -51.5% NN Nextnav Inc. 544,821 $7.8M New MRVI Maravai Lifesciences Hldgs-A 2,593,268 $7.4M No change LDI Loandepot Inc. Class A 2,269,684 $7.0M Reduce -46.1% SBET Sharplink Inc. 350,000 $6.0M New SVC Service Pptys TR 1,416,173 $3.8M New TH Target Hospitality Corp. 365,026 $3.1M Add +43.4% ALIT Alight Inc. Class A 858,968 $2.8M Reduce -81.4%
Options reported separately and not counted above: SPY puts ($666.2M), QQQ puts ($450.3M), IWM puts ($362.9M), EWZ calls ($49.6M), ET calls ($19.7M), PCG calls ($17.3M), COMP calls ($3.4M), GEO calls ($3.1M), HUDSON PAC PPTYS INC calls ($2.8M), TDAY calls ($1.9M).
Portfolio Sells Q2 2025 → Q3 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 Q2 2025 % Of Portfolio Change To Portfolio ▲ ALIT Alight Inc. Class A Reduce -81.4% 0.32% −2.97 MTCH Match Group Inc. Reduce -63.5% 1.72% −2.76 BGC BGC Group Inc. Class A Sold out 0.00% −2.32 GLNG Golar LNG Ltd. Reduce -6.5% 11.33% −2.11 WBA Walgreens Boots Alliance Inc. Sold out 0.00% −2.08 CZR Caesars Entertainment Inc. Reduce -16.2% 5.45% −1.99 DK Delek US Holdings Inc. Sold out 0.00% −1.73 TALO Talos Energy Inc. Reduce -28.5% 3.56% −1.23 KSPI JSC Kaspi.kz ADR Reduce -40.2% 1.36% −1.21 NFE New Fortress Energy Inc. Reduce -16.0% 1.13% −1.06 SSNC Ss&c Technologies Holdings Reduce -51.5% 0.91% −1.00 JAKK Jakks Pacific Inc. Sold out 0.00% −0.98 ET Energy Transfer LP Reduce -1.2% 5.04% −0.82 SBLK Star Bulk Carriers Corp. Reduce -6.3% 3.12% −0.24 BBIO Bridgebio Pharma Inc. Reduce -9.8% 2.31% −0.01 LDI Loandepot Inc. Class A Reduce -46.1% 0.81% +0.13
Portfolio Buys Q2 2025 → Q3 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 Q2 2025 % Of Portfolio Change To Portfolio ▼ KRC Kilroy Realty Corp. Add +116.9% 5.33% +3.16 COMP Compass Inc. Class A New 3.13% +3.13 HUDSON PAC PPTYS INC Add +570.8% 2.77% +2.32 ICLR Icon PLC New 1.61% +1.61 RKT Rocket Cos Inc. Class A New 1.41% +1.41 MCY Mercury General Corp. New 1.36% +1.36 CXW Corecivic Inc. Add +144.9% 2.41% +1.30 AEXA American Exceptionalism Class A New 1.27% +1.27 NWL Newell Brands Inc. New 0.95% +0.95 NN Nextnav Inc. New 0.90% +0.90 SBET Sharplink Inc. New 0.69% +0.69 SVC Service Pptys TR New 0.44% +0.44 TDAY USA Today Co. Inc. Add +6.8% 3.01% +0.35 PCG P G & E Corp. Add +10.4% 3.71% +0.33 OFIX Orthofix Medical Inc. Add +4.5% 1.50% +0.31 CPAY Corpay Inc. Add +39.5% 2.94% +0.30 TH Target Hospitality Corp. Add +43.4% 0.36% +0.13 GEO The Geo Group Inc. Add +28.6% 4.70% +0.05 SOLV Solventum Corp. Add +10.9% 2.91% −0.05 PUMP Propetro Holding Corp. Add +14.8% 2.45% −0.20
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Reduce -4.8% 10,000 $666.2M QQQ Invesco QQQ Trust Series 1 put Add +25.0% 7,500 $450.3M IWM iShares Russell 2000 ETF put Add +42.9% 15,000 $362.9M EWZ iShares MSCI Brazil ETF call New 16,000 $49.6M ET Energy Transfer LP call New 11,499 $19.7M PCG P G & E Corp. call Reduce -48.0% 11,448 $17.3M COMP Compass Inc. Class A call New 4,190 $3.4M ALIT Alight Inc. Class A call Sold out 5,410 $3.1Mbefore exit HUDSON PAC PPTYS INC call New 10,000 $2.8M TDAY USA Today Co. Inc. call New 4,658 $1.9M CZR Caesars Entertainment Inc. call Sold out 245 $696Kbefore exit NFE New Fortress Energy Inc. call Sold out 290 $96Kbefore 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