Philosophy Capital Management portfolio

What changed this quarter

42 positions with a change (9 new, 13 added to, 10 trimmed, 10 sold). 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Microsoft−3.2 ppof portfolioSold out
  3.9% → —
• Toast+3.1 ppof portfolioNew
  — → 3.1%
• Elastic−3.0 ppof portfolioSold out
  3.7% → —
• Galaxy Digital+172%more sharesIncreased
  1.4% → 4.7%
• Solventum−2.2 ppof portfolioSold out
  2.7% → —
• Mercury General−2.2 ppof portfolioSold out
  2.6% → —
• Flutter Entertainment−2.1 ppof portfolioSold out
  2.5% → —
• HCA Healthcare+1.9 ppof portfolioNew
  — → 1.9%
• Trimble+1.8 ppof portfolioNew
  — → 1.8%
• GEO Group−35%fewer sharesReduced
  3.4% → 3.2%
• Corecivic−24%fewer sharesReduced
  4.8% → 4.8%
• PVH−1.4 ppof portfolioSold out
  1.7% → —

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• CompassCOMP8.0%
• Golar LNGGLNG4.9%
• CorecivicCXW4.8%
• Galaxy DigitalGLXY4.7%
• Vistra OperationsVST4.6%
• Energy TransferET4.4%
• Star Bulk CarriersSBLK4.2%
• ProPetro HoldingPUMP4.1%
• Hudson Pacific PropertiesHPP4.0%
• NokiaNOK4.0%
• CorpayCPAY3.6%
• USA TodayTDAY3.5%
• Rocket CompaniesRKT3.4%
• GEO GroupGEO3.2%
• ToastTOST3.1%
• Nine Energy ServiceNINE3.0%
• GDS HoldingsGDS2.9%
• Kyivstar GroupKYIV2.7%
• BellRing BrandsBRBR2.6%
• Talen EnergyTLN2.4%
• Kilroy RealtyKRC2.3%
• Pg&ePCG2.2%
• HIMS & Hers HealthHIMS1.9%
• HCA HealthcareHCA1.9%
• Camping World HoldingsCWH1.8%
• TrimbleTRMB1.8%
• AdobeADBE1.4%
• Talos EnergyTALO1.3%
• Guardian Metal ResourcesGMTL1.2%
• American Exceptionalism Acquisition Corp. AAEXA1.1%
• Maravai LifeSciences HoldingsMRVI1.1%
• BaiduBIDU1.1%
• Venture GlobalVG1.0%
• GrindrGRND1.0%
• SharplinkSBET0.8%