Philosophy Capital Management LLC In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Philosophy Capital Management LLC reported 34 stock positions worth $854.1 million . Its top holding was Golar LNG (GLNG) at 10.4% of the portfolio, followed by Compass Class A (COMP, 7.2% ) and Energy Transfer (ET, 5.2% ). Compared with Q3 2025, it opened 7 new positions, sold out of 11, added to 19 and reduced 7. The biggest buy was Compass Class A (COMP, shares +72% ) and the biggest sale Talen Energy (TLN, shares −70% ).
Location Alamo, CA
CIK 0001869199
Portfolio Value $854.1M (Q4 2025) Holdings 34 stocks · $854.1M 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 Q3 2025 GLNG Golar LNG Ltd. 2,376,098 $88.4M Reduce -1.9% COMP Compass Inc. Class A 5,779,926 $61.1M Add +71.8% ET Energy Transfer LP 2,683,629 $44.3M Add +5.7% KRC Kilroy Realty Corp. 1,117,889 $41.8M Add +2.6% PUMP Propetro Holding Corp. 3,904,155 $37.1M Reduce -3.5% PCG P G & E Corp. 2,143,248 $34.4M Add +0.7% CPAY Corpay Inc. 110,708 $33.3M Add +25.5% TDAY USA Today Co. Inc. 6,453,919 $33.2M Add +2.6% CXW Corecivic Inc. 1,712,801 $32.7M Add +67.7% SBLK Star Bulk Carriers Corp. 1,650,000 $31.7M Add +13.8% SOLV Solventum Corp. 352,898 $28.0M Add +2.6% GEO The Geo Group Inc. 1,628,470 $26.3M Reduce -17.8% ICLR Icon PLC 144,055 $26.2M Add +80.9% CZR Caesars Entertainment Inc. 1,100,000 $25.7M Reduce -36.8% HPP Hudson Pacific Properties Inc. 2,301,096 $24.9M Add +85.6% MCY Mercury General Corp. 256,380 $24.1M Add +84.5% TLN Talen Energy Corp. 60,759 $22.8M Reduce -69.6% ESTC Elastic NV 281,101 $21.2M New RKT Rocket Cos Inc. Class A 1,078,832 $20.9M Add +71.2% GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD 570,140 $19.9M New GME Gamestop Corp. Class A 950,000 $19.1M New VST Vistra Corp. 95,962 $15.5M New OFIX Orthofix Medical Inc. 1,015,194 $15.4M Add +14.9% BBIO Bridgebio Pharma Inc. 200,019 $15.3M Reduce -48.0% RRX Regal Rexnord Corp. 106,395 $14.9M New NN Nextnav Inc. 878,183 $14.6M Add +61.2% FLUT Flutter Entertainment PLC-Di 66,419 $14.3M Add +78.6% CWH Camping World Holdings Inc. Class A 1,191,658 $11.6M New AEXA American Exceptionalism Class A 1,000,000 $11.4M No change GLXY Galaxy Digital Inc. Class A 477,025 $10.7M Reduce -31.9% MRVI Maravai Lifesciences Hldgs-A 3,100,322 $10.1M Add +19.6% MCHB Mechanics Bancorp Class A 623,775 $9.1M New SBET Sharplink Inc. 988,985 $8.8M Add +182.6% TH Target Hospitality Corp. 650,364 $5.2M Add +78.2%
Options reported separately and not counted above: SPY puts ($579.6M), QQQ puts ($430.0M), IWM puts ($246.2M), ET calls ($33.8M), EWZ calls ($29.1M), HPP calls ($11.0M), COMP calls ($10.6M), GEO calls ($2.4M).
Portfolio Sells Q3 2025 → Q4 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 Q3 2025 % Of Portfolio Change To Portfolio ▲ TLN Talen Energy Corp. Reduce -69.6% 2.67% −7.18 TALO Talos Energy Inc. Sold out 0.00% −3.56 CZR Caesars Entertainment Inc. Reduce -36.8% 3.01% −2.44 CMCSA Comcast Corp. Class A Sold out 0.00% −2.42 PRKS United Parks & Resorts Inc. Sold out 0.00% −2.14 MTCH Match Group Inc. Sold out 0.00% −1.72 GEO The Geo Group Inc. Reduce -17.8% 3.07% −1.62 GLXY Galaxy Digital Inc. Class A Reduce -31.9% 1.25% −1.49 KSPI JSC Kaspi.kz ADR Sold out 0.00% −1.36 NFE New Fortress Energy Inc. Sold out 0.00% −1.13 GLNG Golar LNG Ltd. Reduce -1.9% 10.35% −0.98 NWL Newell Brands Inc. Sold out 0.00% −0.95 SSNC Ss&c Technologies Holdings Sold out 0.00% −0.91 LDI Loandepot Inc. Class A Sold out 0.00% −0.81 BBIO Bridgebio Pharma Inc. Reduce -48.0% 1.79% −0.52 SVC Service Pptys TR Sold out 0.00% −0.44 ALIT Alight Inc. Class A Sold out 0.00% −0.32 PUMP Propetro Holding Corp. Reduce -3.5% 4.35% +1.89
Portfolio Buys Q3 2025 → Q4 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 Q3 2025 % Of Portfolio Change To Portfolio ▼ COMP Compass Inc. Class A Add +71.8% 7.15% +4.03 ESTC Elastic NV New 2.48% +2.48 GDS GDS Holdings Ltd. - ADR New 2.33% +2.33 GME Gamestop Corp. Class A New 2.23% +2.23 VST Vistra Corp. New 1.81% +1.81 RRX Regal Rexnord Corp. New 1.75% +1.75 ICLR Icon PLC Add +80.9% 3.07% +1.46 MCY Mercury General Corp. Add +84.5% 2.82% +1.46 CXW Corecivic Inc. Add +67.7% 3.83% +1.43 CWH Camping World Holdings Inc. Class A New 1.36% +1.36 MCHB Mechanics Bancorp Class A New 1.07% +1.07 RKT Rocket Cos Inc. Class A Add +71.2% 2.45% +1.03 CPAY Corpay Inc. Add +25.5% 3.90% +0.96 TDAY USA Today Co. Inc. Add +2.6% 3.89% +0.89 NN Nextnav Inc. Add +61.2% 1.71% +0.81 SBLK Star Bulk Carriers Corp. Add +13.8% 3.71% +0.59 FLUT Flutter Entertainment PLC-Di Add +78.6% 1.67% +0.58 SOLV Solventum Corp. Add +2.6% 3.27% +0.37 SBET Sharplink Inc. Add +182.6% 1.04% +0.35 MRVI Maravai Lifesciences Hldgs-A Add +19.6% 1.18% +0.32 PCG P G & E Corp. Add +0.7% 4.03% +0.32 OFIX Orthofix Medical Inc. Add +14.9% 1.80% +0.30 TH Target Hospitality Corp. Add +78.2% 0.61% +0.25 HPP Hudson Pacific Properties Inc. Add +85.6% 2.92% +0.15 ET Energy Transfer LP Add +5.7% 5.18% +0.14 KRC Kilroy Realty Corp. Add +2.6% 4.89% −0.44
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Reduce -15.0% 8,500 $579.6M QQQ Invesco QQQ Trust Series 1 put Reduce -6.7% 7,000 $430.0M IWM iShares Russell 2000 ETF put Reduce -33.3% 10,000 $246.2M ET Energy Transfer LP call Add +78.4% 20,515 $33.8M EWZ iShares MSCI Brazil ETF call Reduce -42.8% 9,152 $29.1M PCG P G & E Corp. call Sold out 11,448 $17.3Mbefore exit HPP Hudson Pacific Properties Inc. call Add +610.8% 10,165 $11.0M COMP Compass Inc. Class A call Add +138.7% 10,000 $10.6M TDAY USA Today Co. Inc. call Sold out 4,658 $1.9Mbefore 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