# EDGAR Filing Document

**Accession Number:** 0001532943
**File Stem:** 0001214659-23-002199
**Filing Date:** 2023-2
**Character Count:** 18587
**Document Hash:** 7ff684ae4d9129d8350a984ba8869701
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-23-002199.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001214659-23-002199

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Palogic Value Management, L.P.
- **CENTRAL INDEX KEY:** 0001532943
- **IRS NUMBER:** 205611076
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-22961
- **FILM NUMBER:** 23621778

**BUSINESS ADDRESS:**
- **STREET 1:** 5310 HARVEST HILL ROAD
- **STREET 2:** SUITE 110
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75230
- **BUSINESS PHONE:** (214) 871-2700

**MAIL ADDRESS:**
- **STREET 1:** 5310 HARVEST HILL ROAD
- **STREET 2:** SUITE 110
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75230

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Palogic Value Management L.P.<br>**Address:** 5310 HARVEST HILL ROAD<br>SUITE 110<br>DALLAS, TX 75230

**Form 13F File Number:** 028-22961

**CRD Number (if applicable):** 000155133

**SEC File Number (if applicable):** 801-120951

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Aimee LaRochelle<br>**Title:** Associate Compliance<br>**Phone:** 214-393-2989

**Signature, Place, and Date of Signing:**

Aimee LaRochelle  Dallas, TX  02-07-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 151

**Form 13F Information Table Value Total:** $191688368

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABBVIE INC | COM | 00287Y109 |  | 3151395 | 19500 | SH |  | SOLE |  | 0 | 0 | 19500 |
| ADOBE SYSTEMS INCORPORATED | COM | 00724F101 |  | 1362273 | 4048 | SH |  | SOLE |  | 0 | 0 | 4048 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 3533584 | 39824 | SH |  | SOLE |  | 0 | 0 | 39824 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 379389 | 4300 | SH |  | SOLE |  | 0 | 0 | 4300 |
| AMAZON COM INC | COM | 023135106 |  | 1596000 | 19000 | SH |  | SOLE |  | 0 | 0 | 19000 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 370262 | 2506 | SH |  | SOLE |  | 0 | 0 | 2506 |
| AMGEN INC | COM | 031162100 |  | 1781487 | 6783 | SH |  | SOLE |  | 0 | 0 | 6783 |
| APOLLO COML REAL EST FIN INC | COM | 03762U105 |  | 839775 | 78046 | SH |  | SOLE |  | 0 | 0 | 78046 |
| APPLE INC | COM | 037833100 |  | 7277379 | 56010 | SH |  | SOLE |  | 0 | 0 | 56010 |
| ARBOR REALTY TRUST INC | COM | 038923108 |  | 248407 | 18833 | SH |  | SOLE |  | 0 | 0 | 18833 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 1633358 | 88433 | SH |  | SOLE |  | 0 | 0 | 88433 |
| ASPEN AEROGELS INC | COM | 04523Y105 |  | 1768500 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| ASURE SOFTWARE INC | COM | 04649U102 |  | 3152250 | 337500 | SH |  | SOLE |  | 337500 | 0 | 0 |
| BANDWIDTH INC | COM CL A | 05988J103 |  | 4131000 | 180000 | SH |  | SOLE |  | 180000 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 1326324 | 40046 | SH |  | SOLE |  | 0 | 0 | 40046 |
| BHP GROUP LTD | SPONSORED ADS | 088606108 |  | 5150957 | 83013 | SH |  | SOLE |  | 0 | 0 | 83013 |
| BLACKROCK CR ALLOCATION INCO | COM | 092508100 |  | 552490 | 54702 | SH |  | SOLE |  | 0 | 0 | 54702 |
| BLACKROCK ENHANCED EQUITY DI | COM | 09251A104 |  | 536095 | 59500 | SH |  | SOLE |  | 0 | 0 | 59500 |
| BLACKROCK LONG-TERM MUN ADVA | COM | 09250B103 |  | 423000 | 45000 | SH |  | SOLE |  | 0 | 0 | 45000 |
| BLACKROCK MUN INCOME TR | SH BEN INT | 09248F109 |  | 281680 | 28000 | SH |  | SOLE |  | 0 | 0 | 28000 |
| BLACKROCK MUNI INCOME TR II | COM | 09249N101 |  | 206600 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| BLACKROCK MUNIHOLDINGS FD IN | COM | 09253N104 |  | 205749 | 16948 | SH |  | SOLE |  | 0 | 0 | 16948 |
| BLACKROCK MUNIHOLDINGS QUALI | COM | 09254C107 |  | 276710 | 27810 | SH |  | SOLE |  | 0 | 0 | 27810 |
| BLACKROCK MUNIVEST FD INC | COM | 09253R105 |  | 210300 | 30000 | SH |  | SOLE |  | 0 | 0 | 30000 |
| BLACKROCK MUNIYILD QULT FD I | COM | 09254F100 |  | 515922 | 44476 | SH |  | SOLE |  | 0 | 0 | 44476 |
| BLACKROCK TAX MUNICPAL BD TR | SHS | 09248X100 |  | 176820 | 10500 | SH |  | SOLE |  | 0 | 0 | 10500 |
| BNY MELLON MUN BD INFRASTRUC | COM SHS | 09662W109 |  | 761975 | 72500 | SH |  | SOLE |  | 0 | 0 | 72500 |
| BNY MELLON MUN INCOME INC | COM | 05589T104 |  | 125200 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| BNY MELLON STRATEGIC MUN BD | COM | 09662E109 |  | 196520 | 34000 | SH |  | SOLE |  | 0 | 0 | 34000 |
| BNY MELLON STRATEGIC MUNS IN | COM | 05588W108 |  | 207740 | 34000 | SH |  | SOLE |  | 0 | 0 | 34000 |
| BP PLC | SPONSORED ADR | 055622104 |  | 264001 | 7558 | SH |  | SOLE |  | 0 | 0 | 7558 |
| BRIGHTCOVE INC | COM | 10921T101 |  | 2113307 | 404074 | SH |  | SOLE |  | 404074 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 2075901 | 28852 | SH |  | SOLE |  | 0 | 0 | 28852 |
| BROADCOM INC | COM | 11135F101 |  | 3718215 | 6650 | SH |  | SOLE |  | 0 | 0 | 6650 |
| BROADMARK RLTY CAP INC | COM | 11135B100 |  | 54593 | 15335 | SH |  | SOLE |  | 0 | 0 | 15335 |
| BRUNSWICK CORP | COM | 117043109 |  | 1787368 | 24797 | SH |  | SOLE |  | 23000 | 0 | 1797 |
| BSQUARE CORP | COM NEW | 11776U300 |  | 1793756 | 1585711 | SH |  | SOLE |  | 1585711 | 0 | 0 |
| C3 AI INC | CL A | 12468P104 |  | 1699202 | 151850 | SH |  | SOLE |  | 145000 | 0 | 6850 |
| CAESARS ENTERTAINMENT INC NE | COM | 12769G100 |  | 502403 | 12077 | SH |  | SOLE |  | 0 | 0 | 12077 |
| CALAMOS CONV OPPORTUNITIES | SH BEN INT | 128117108 |  | 126120 | 12000 | SH |  | SOLE |  | 0 | 0 | 12000 |
| CALAMOS GBL DYN INCOME FUND | COM | 12811L107 |  | 61380 | 11000 | SH |  | SOLE |  | 0 | 0 | 11000 |
| CALAMOS STRATEGIC TOTAL RETU | COM SH BEN INT | 128125101 |  | 791780 | 59000 | SH |  | SOLE |  | 0 | 0 | 59000 |
| CANNAE HLDGS INC | COM | 13765N107 |  | 4956000 | 240000 | SH |  | SOLE |  | 240000 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 1120636 | 23523 | SH |  | SOLE |  | 0 | 0 | 23523 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 |  | 161100 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| COLUMBUS MCKINNON CORP N Y | COM | 199333105 |  | 3623165 | 111585 | SH |  | SOLE |  | 111585 | 0 | 0 |
| COPART INC | COM | 217204106 |  | 487120 | 8000 | SH |  | SOLE |  | 0 | 0 | 8000 |
| D R HORTON INC | COM | 23331A109 |  | 426446 | 4784 | SH |  | SOLE |  | 0 | 0 | 4784 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 376013 | 3750 | SH |  | SOLE |  | 0 | 0 | 3750 |
| DISNEY WALT CO | COM | 254687106 |  | 501732 | 5775 | SH |  | SOLE |  | 0 | 0 | 5775 |
| DOMO INC | COM CL B | 257554105 |  | 2776800 | 195000 | SH |  | SOLE |  | 195000 | 0 | 0 |
| DOW INC | COM | 260557103 |  | 241721 | 4797 | SH |  | SOLE |  | 0 | 0 | 4797 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 570256 | 5537 | SH |  | SOLE |  | 0 | 0 | 5537 |
| DUPONT DE NEMOURS INC | COM | 26614N102 |  | 203351 | 2963 | SH |  | SOLE |  | 0 | 0 | 2963 |
| EATON VANCE TX ADV GLBL DIV | COM | 27828S101 |  | 354850 | 23500 | SH |  | SOLE |  | 0 | 0 | 23500 |
| EDGIO INC | COM | 53261M104 |  | 621500 | 550000 | SH |  | SOLE |  | 550000 | 0 | 0 |
| EMCORE CORP | COM NEW | 290846203 |  | 1443721 | 1499970 | SH |  | SOLE |  | 1499970 | 0 | 0 |
| ENPRO INDS INC | COM | 29355X107 |  | 1966528 | 18093 | SH |  | SOLE |  | 18093 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 585819 | 4523 | SH |  | SOLE |  | 0 | 0 | 4523 |
| EVENTBRITE INC | COM CL A | 29975E109 |  | 2021700 | 345000 | SH |  | SOLE |  | 345000 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 4484247 | 40655 | SH |  | SOLE |  | 0 | 0 | 40655 |
| FIDELITY NATIONAL FINANCIAL | FNF GROUP COM | 31620R303 |  | 2410577 | 64077 | SH |  | SOLE |  | 50000 | 0 | 14077 |
| FIDUS INVT CORP | COM | 316500107 |  | 673034 | 35367 | SH |  | SOLE |  | 0 | 0 | 35367 |
| FIRST TR NASDAQ 100 TECH IND | SHS | 337345102 |  | 252576 | 2400 | SH |  | SOLE |  | 0 | 0 | 2400 |
| FLAHERTY  CRUMRINE DYNAMIC | SHS | 33848W106 |  | 450911 | 24100 | SH |  | SOLE |  | 0 | 0 | 24100 |
| FORESTAR GROUP INC | COM | 346232101 |  | 1926250 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 494798 | 13021 | SH |  | SOLE |  | 0 | 0 | 13021 |
| GRAFTECH INTL LTD | COM | 384313508 |  | 1071000 | 225000 | SH |  | SOLE |  | 225000 | 0 | 0 |
| GRANITE PT MTG TR INC | COM STK | 38741L107 |  | 648619 | 121011 | SH |  | SOLE |  | 0 | 0 | 121011 |
| GULF IS FABRICATION INC | COM | 402307102 |  | 738089 | 143877 | SH |  | SOLE |  | 143877 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 363239 | 1150 | SH |  | SOLE |  | 0 | 0 | 1150 |
| HONEYWELL INTL INC | COM | 438516106 |  | 526964 | 2459 | SH |  | SOLE |  | 0 | 0 | 2459 |
| I3 VERTICALS INC | COM CL A | 46571Y107 |  | 1764650 | 72500 | SH |  | SOLE |  | 72500 | 0 | 0 |
| IMAX CORP | COM | 45245E109 |  | 1773860 | 121000 | SH |  | SOLE |  | 121000 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 243817 | 9225 | SH |  | SOLE |  | 0 | 0 | 9225 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 1292869 | 17559 | SH |  | SOLE |  | 0 | 0 | 17559 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 610600 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 314260 | 1779 | SH |  | SOLE |  | 0 | 0 | 1779 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 915098 | 6824 | SH |  | SOLE |  | 0 | 0 | 6824 |
| KRAFT HEINZ CO | COM | 500754106 |  | 364192 | 8946 | SH |  | SOLE |  | 0 | 0 | 8946 |
| LADDER CAP CORP | CL A | 505743104 |  | 696364 | 69359 | SH |  | SOLE |  | 0 | 0 | 69359 |
| LAS VEGAS SANDS CORP | COM | 517834107 |  | 312455 | 6500 | SH |  | SOLE |  | 0 | 0 | 6500 |
| LIGHTSPEED COMMERCE INC | SUB VTG SHS | 53229C107 |  | 1859000 | 130000 | SH |  | SOLE |  | 130000 | 0 | 0 |
| LIVE OAK BANCSHARES INC | COM | 53803X105 |  | 1510000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| LIVEPERSON INC | COM | 538146101 |  | 3244800 | 320000 | SH |  | SOLE |  | 320000 | 0 | 0 |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | N53745100 |  | 942391 | 11350 | SH |  | SOLE |  | 0 | 0 | 11350 |
| MARQETA INC | CLASS A COM | 57142B104 |  | 1222000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 471538 | 4250 | SH |  | SOLE |  | 0 | 0 | 4250 |
| MICROSOFT CORP | COM | 594918104 |  | 4209560 | 17553 | SH |  | SOLE |  | 0 | 0 | 17553 |
| MOLSON COORS BEVERAGE CO | CL B | 60871R209 |  | 2412012 | 46817 | SH |  | SOLE |  | 40000 | 0 | 6817 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 346856 | 4149 | SH |  | SOLE |  | 0 | 0 | 4149 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 221778 | 900 | SH |  | SOLE |  | 0 | 0 | 900 |
| NUVEEN AMT FREE MUN CR INC F | COM | 67071L106 |  | 861612 | 70973 | SH |  | SOLE |  | 0 | 0 | 70973 |
| NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 |  | 1848614 | 162587 | SH |  | SOLE |  | 0 | 0 | 162587 |
| NUVEEN MUN HIGH INCOME OPPOR | COM | 670682103 |  | 372240 | 36000 | SH |  | SOLE |  | 0 | 0 | 36000 |
| NUVEEN MUNICIPAL CREDIT INC | COM SH BEN INT | 67070X101 |  | 930849 | 77057 | SH |  | SOLE |  | 0 | 0 | 77057 |
| NUVEEN PFD  INCOME OPPORTUN | COM | 67073B106 |  | 227252 | 31216 | SH |  | SOLE |  | 0 | 0 | 31216 |
| NUVEEN PFD  INCOME SECS FD | COM | 67072C105 |  | 754011 | 110884 | SH |  | SOLE |  | 0 | 0 | 110884 |
| NUVEEN PFD  INCOME TERM FD | COM | 67075A106 |  | 213670 | 11500 | SH |  | SOLE |  | 0 | 0 | 11500 |
| NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 |  | 973937 | 82537 | SH |  | SOLE |  | 0 | 0 | 82537 |
| NUVEEN S 500 BUY-WRITE INC | COM | 6706ER101 |  | 365218 | 28871 | SH |  | SOLE |  | 0 | 0 | 28871 |
| NUVEEN TAXABLE MUNICPAL INM | COM | 67074C103 |  | 191520 | 12000 | SH |  | SOLE |  | 0 | 0 | 12000 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 602974 | 4126 | SH |  | SOLE |  | 0 | 0 | 4126 |
| ONEOK INC NEW | COM | 682680103 |  | 781830 | 11900 | SH |  | SOLE |  | 0 | 0 | 11900 |
| OPEN LENDING CORP | COM CL A | 68373J104 |  | 2025000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 313965 | 2250 | SH |  | SOLE |  | 0 | 0 | 2250 |
| PAYSAFE LIMITED | SHS | G6964L206 |  | 195641 | 14085 | SH |  | SOLE |  | 0 | 0 | 14085 |
| PEBBLEBROOK HOTEL TR | COM | 70509V100 |  | 803400 | 60000 | SH |  | SOLE |  | 60000 | 0 | 0 |
| PENNYMAC FINL SVCS INC NEW | COM | 70932M107 |  | 4816100 | 85000 | SH |  | SOLE |  | 85000 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 451681 | 8815 | SH |  | SOLE |  | 0 | 0 | 8815 |
| PIMCO DYNAMIC INCOME FD | SHS | 72201Y101 |  | 409812 | 22176 | SH |  | SOLE |  | 0 | 0 | 22176 |
| PIMCO DYNAMIC INCOME OPRNTS | COM BEN SHS | 69355M107 |  | 974453 | 76308 | SH |  | SOLE |  | 0 | 0 | 76308 |
| PIMCO MUN INCOME FD | COM | 72200R107 |  | 385910 | 37000 | SH |  | SOLE |  | 0 | 0 | 37000 |
| PIMCO MUN INCOME FD II | COM | 72200W106 |  | 442960 | 49000 | SH |  | SOLE |  | 0 | 0 | 49000 |
| PIMCO MUN INCOME FD III | COM | 72201A103 |  | 287430 | 33000 | SH |  | SOLE |  | 0 | 0 | 33000 |
| PORCH GROUP INC | COM | 733245104 |  | 219851 | 116942 | SH |  | SOLE |  | 116942 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 1799017 | 11870 | SH |  | SOLE |  | 0 | 0 | 11870 |
| PROSPECT CAP CORP | COM | 74348T102 |  | 1042300 | 149113 | SH |  | SOLE |  | 0 | 0 | 149113 |
| QUALTRICS INTL INC | COM CL A | 747601201 |  | 1245600 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 |  | 323400 | 15000 | SH |  | SOLE |  | 0 | 0 | 15000 |
| REPAY HLDGS CORP | COM CL A | 76029L100 |  | 1046500 | 130000 | SH |  | SOLE |  | 130000 | 0 | 0 |
| RITHM CAPITAL CORP | COM NEW | 64828T201 |  | 461605 | 56500 | SH |  | SOLE |  | 0 | 0 | 56500 |
| ROCKET COS INC | COM CL A | 77311W101 |  | 126441 | 18063 | SH |  | SOLE |  | 0 | 0 | 18063 |
| SAP SE | SPON ADR | 803054204 |  | 481278 | 4664 | SH |  | SOLE |  | 0 | 0 | 4664 |
| SARATOGA INVT CORP | COM NEW | 80349A208 |  | 1273990 | 49980 | SH |  | SOLE |  | 0 | 0 | 49980 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 1332811 | 24931 | SH |  | SOLE |  | 0 | 0 | 24931 |
| SECUREWORKS CORP | CL A | 81374A105 |  | 1278000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| SELECT ENERGY SVCS INC | CL A COM | 81617J301 |  | 2691612 | 291300 | SH |  | SOLE |  | 291300 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 5314916 | 93326 | SH |  | SOLE |  | 55000 | 0 | 38326 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 748818 | 6374 | SH |  | SOLE |  | 0 | 0 | 6374 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 611123 | 1598 | SH |  | SOLE |  | 0 | 0 | 1598 |
| SSGA ACTIVE ETF TR | BLACKSTONE SENR | 78467V608 |  | 1507165 | 36850 | SH |  | SOLE |  | 0 | 0 | 36850 |
| STARBUCKS CORP | COM | 855244109 |  | 477946 | 4818 | SH |  | SOLE |  | 0 | 0 | 4818 |
| STARWOOD PPTY TR INC | COM | 85571B105 |  | 207056 | 11296 | SH |  | SOLE |  | 0 | 0 | 11296 |
| TEXAS INSTRS INC | COM | 882508104 |  | 326144 | 1974 | SH |  | SOLE |  | 0 | 0 | 1974 |
| TOPGOLF CALLAWAY BRANDS CORP | COM | 131193104 |  | 2715625 | 137500 | SH |  | SOLE |  | 137500 | 0 | 0 |
| TRITON INTL LTD | CL A | G9078F107 |  | 1341210 | 19500 | SH |  | SOLE |  | 0 | 0 | 19500 |
| TWILIO INC | CL A | 90138F102 |  | 1468800 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 287206 | 1387 | SH |  | SOLE |  | 0 | 0 | 1387 |
| UPLAND SOFTWARE INC | COM | 91544A109 |  | 1889450 | 265000 | SH |  | SOLE |  | 265000 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | LG-TERM COR BD | 92206C813 |  | 1243688 | 16427 | SH |  | SOLE |  | 0 | 0 | 16427 |
| VERISK ANALYTICS INC | COM | 92345Y106 |  | 292152 | 1656 | SH |  | SOLE |  | 0 | 0 | 1656 |
| VERITEX HLDGS INC | COM | 923451108 |  | 730080 | 26000 | SH |  | SOLE |  | 0 | 0 | 26000 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 1086061 | 27565 | SH |  | SOLE |  | 0 | 0 | 27565 |
| VERRA MOBILITY CORP | CL A COM STK | 92511U102 |  | 2074500 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| VERTEX INC | CL A | 92538J106 |  | 4237776 | 292059 | SH |  | SOLE |  | 292059 | 0 | 0 |
| VICI PPTYS INC | COM | 925652109 |  | 1526040 | 47100 | SH |  | SOLE |  | 0 | 0 | 47100 |
| VIMEO INC | COMMON STOCK | 92719V100 |  | 2966950 | 865000 | SH |  | SOLE |  | 865000 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 560329 | 2697 | SH |  | SOLE |  | 0 | 0 | 2697 |
| YEXT INC | COM | 98585N106 |  | 4897500 | 750000 | SH |  | SOLE |  | 750000 | 0 | 0 |
| ZUORA INC | COM CL A | 98983V106 |  | 4051320 | 637000 | SH |  | SOLE |  | 637000 | 0 | 0 |

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