Philosophy Capital Management LLC cut its stake in Alight,(ALIT 2.61%) reducing exposure by an estimated $23.34 million, according to a November 14, 2025 SEC filing.
What happened
According to the filing, Philosophy Capital Management LLC sold 3,759,133 shares of Alight during the third quarter. The sale left the fund with 858,968 shares valued at $2.80 million as of September 30, 2025. With that sale and other transactions, it reported 48 positions totaling $2.44 billion in U.S. equities.
What else to know
- The fund’s ALIT holding now represents 0.11% of 13F AUM, down from 1.3% in the previous quarter.
Top holdings after the filing (not including options):
- NASDAQ:GLNG: $97.87 million (11.3% of AUM)
- NASDAQ:TLN: $85.08 million (9.8% of AUM)
- NASDAQ:CZR: $47.07 million (5.4% of AUM)
- NYSE:KRC: $46.03 million (5.3% of AUM)
- NYSE:ET: $43.56 million (5.0% of AUM)
- As of November 13, 2025, shares were priced at $2.27, down 72.2% over the past year, underperforming the S&P 500 by 84.98 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $2.29 billion |
| Net Income (TTM) | ($2.16 billion) |
| Dividend Yield | 7.00% |
| Price (as of market close 2025-11-13) | $2.27 |
Company snapshot
- Provides integrated cloud-based human capital and business solutions, including benefits administration, healthcare navigation, payroll, and cloud deployment services.
- Generates revenue through employer solutions, professional services, and hosted business solutions for employers seeking to optimize workforce management.
- Operates as a global provider of scalable HR, payroll, and benefits platforms.
Alight operates at scale with a global client base, delivering technology-driven human capital management solutions. The company leverages its cloud platform and expertise in HR and financial systems to help organizations enhance employee wellbeing and operational efficiency. Its integrated offering and focus on digital transformation position Alight as a key partner for enterprises navigating complex workforce challenges.
Foolish take
The Alight sale represents one of the fund’s largest sales by percentage in the third quarter of 2025, with the 81% reduction in its position. Consequently, at just 0.11% of AUM, it is now its third-smallest position out of the 48 holdings owned by Philosophy Capital.
In Philosophy’s case, this could further confirm that the fund has turned negative on the market. When including stock options, the top 3 holdings are actually puts in the S&P 500, Nasdaq, and Russell 2000 indexes, accounting for around 60% of the fund (the top five holdings listed above are stocks only).
This may especially apply to Alight, whose stock has trended downward since the 2022 bear market. However, instead of recovering in subsequent years like other stocks, Alight traded in a range before resuming its sell-off in the last year and a half.
NYSE: ALIT
Key Data Points
Hence, between Philosophy’s apparent negative take on the overall market and the disappointing performance of Alight, the sale is probably not a surprise to those who have watched this stock.
Glossary
13F AUM: The total value of assets managed by a fund, as reported in its quarterly SEC Form 13F filing.
Exposure: The amount of capital or percentage of a portfolio invested in a particular asset or sector.
Top holdings: The largest investments by value within a fund's portfolio.
Dividend Yield: Annual dividends paid by a company divided by its share price, expressed as a percentage.
Cloud-based: Services or software delivered over the internet rather than installed locally on computers.
Benefits administration: Managing employee benefits such as health insurance, retirement plans, and other perks.
Payroll: The process of calculating and distributing employee wages and salaries.
Hosted business solutions: Business software and services provided and managed remotely by a third-party provider.
Human capital management: Strategies and systems for recruiting, managing, and developing an organization's workforce.
Digital transformation: The use of technology to fundamentally change how organizations operate and deliver value.
Scalable: Capable of handling increased workload or growth without losing performance or requiring major changes.
TTM: The 12-month period ending with the most recent quarterly report.
