Palogic Value Management, L.P.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 19, 2025), Palogic Value Management, L.P. reported 152 stock positions worth $222.5 million. Its top holding was Apple (AAPL) at 4.7% of the portfolio, followed by SS SPDR BB 1-3M T-Bill ETF (BIL, 4.1%) and Broadcom (AVGO, 2.8%). Compared with Q4 2024, it opened 7 new positions, sold out of 11, added to 70 and reduced 17. The biggest buy was a new position in Forestar (FOR) and the biggest sale Broadcom (AVGO, shares −30%).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001532943
Portfolio Value
$222.5M (Q1 2025)
SEC Filing
0001214659-25-008012 ↗ filed May 19, 2025

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $230.9M Q1 2024 Q2 2024: $235.7M Q2 2024 Q3 2024: $246.2M Q3 2024 Q4 2024: $244.9M Q4 2024 Q1 2025: $222.5M $222.5M Q1 2025 Q2 2025: $232.8M Q2 2025 Q3 2025: $233.1M Q3 2025 Q4 2025: $231.6M Q4 2025 Q1 2026: $224.6M Q1 2026 Q2 2026: $278.1M Q2 2026

Holdings 152 stocks · $222.5M
AAPL Apple Inc. 4.65% 46,606 $10.4M Reduce -4.3%
BIL SS SPDR BB 1-3M T-Bill ETF 4.13% 100,098 $9.2M No change
AVGO Broadcom Inc. 2.78% 37,001 $6.2M Reduce -29.6%
MSFT Microsoft Corp. 2.77% 16,425 $6.2M Reduce -1.9%
GOOG Alphabet Inc. Class C 2.58% 36,758 $5.7M Add +0.3%
XOM Exxon Mobil Corp. 2.56% 47,878 $5.7M No change
SRLN SS Blackstone Sr Loan ETF 2.44% 132,101 $5.4M Add +4.7%
SHEL Shell PLC-ADR 2.00% 60,598 $4.4M Reduce -19.9%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 1.93% 54,317 $4.3M Add +1.5%
IVAC Intevac Inc. 1.89% 1,053,924 $4.2M No change
BHP BHP Group Ltd.-Spon ADR 1.85% 84,887 $4.1M Add +2.9%
ABBV Abbvie Inc. 1.81% 19,200 $4.0M No change
SLND Southland Holdings Inc. 1.76% 1,252,160 $3.9M Reduce -2.9%
AMZN Amazon.com Inc. 1.53% 17,925 $3.4M No change
VRRM Verra Mobility Corp. 1.52% 150,000 $3.4M No change
CNNE Cannae Holdings Inc. 1.44% 175,000 $3.2M No change
IIIV I3 Verticals Inc. Class A 1.44% 130,000 $3.2M Reduce -13.2%
XNEAX Nuveen Amt-FR QLTY Muni Inc. 1.43% 283,256 $3.2M Add +35.6%
FLYW Flywire Corp.-Voting 1.42% 333,000 $3.2M Add +75.3%
PEB Pebblebrook Hotel Trust 1.37% 300,000 $3.0M Add +54.6%
LPRO Open Lending Corp. 1.36% 1,092,677 $3.0M Add +52.2%
HCAT Health Catalyst Inc. 1.32% 650,000 $2.9M Add +103.1%
BAND Bandwidth Inc. Class A 1.30% 220,000 $2.9M Add +10.0%
ALIT Alight Inc. Class A 1.25% 470,000 $2.8M Add +11.9%
ASPN Aspen Aerogels Inc. 1.22% 425,000 $2.7M Add +226.9%
VCLT Vanguard Long-Term Corp. Bond 1.22% 35,706 $2.7M Add +17.3%
NAD Nuveen Quality Municipal Inc. 1.21% 234,489 $2.7M Add +20.6%
NVG Nuveen Amt-FR Muni CRDT 1.19% 213,941 $2.6M Add +22.6%
TAP Molson Coors Beverage Co. Class B 1.14% 41,742 $2.5M Add +7.9%
ARCC Ares Capital Corp. 1.06% 106,765 $2.4M Add +2.1%
AMGN Amgen Inc. 1.06% 7,548 $2.4M Add +5.1%
HUCK Huckleberry AI Inc. filed as DOMO INC 0.98% 280,000 $2.2M Reduce -17.6%
LSPD Lightspeed Commerce Inc. 0.94% 240,000 $2.1M Add +179.3%
CMCO Columbus McKinnon Corp. 0.93% 121,585 $2.1M Add +49.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.92% 49,175 $2.1M Add +5.7%
OBDC Blue Owl Capital Corp. 0.91% 138,562 $2.0M Add +17.9%
BMY Bristol-Myers Squibb Co. 0.91% 33,290 $2.0M Add +4.7%
PG The Procter & Gamble Co. 0.88% 11,540 $2.0M No change
EB Eventbrite Inc. Class A 0.83% 875,000 $1.8M Add +45.8%
LBRT Liberty Energy Inc. 0.82% 115,644 $1.8M Add +54.2%
KVHI KVH Industries Inc. 0.79% 331,862 $1.8M Reduce -8.6%
AESI Atlas Energy Solutions Inc. 0.76% 95,000 $1.7M Add +46.1%
ONTF ON24 Inc. 0.75% 320,000 $1.7M Add +23.1%
JPM JPMorgan Chase & Co. 0.73% 6,624 $1.6M No change
SAP Sap SE-Sponsored ADR 0.72% 5,963 $1.6M Add +1.3%
LADR Ladder Capital Corp.-REIT 0.71% 137,624 $1.6M Add +10.8%
MQ Marqeta Inc. 0.70% 380,000 $1.6M Reduce -5.0%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.69% 36,597 $1.5M Add +9.4%
OLO Olo Inc. Class A 0.68% 250,987 $1.5M Reduce -15.3%
PSEC Prospect Capital Corp. 0.67% 365,066 $1.5M Add +3.9%
FNF Fidelity National Financial 0.67% 22,796 $1.5M Add +9.4%
SPG Simon Property Group Inc. 0.66% 8,798 $1.5M Add +7.9%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.64% 43,900 $1.4M No change
FOR Forestar Group Inc. 0.62% 65,000 $1.4M New
FDUS Fidus Investment Corp. 0.62% 67,317 $1.4M Add +5.5%
BC Brunswick Corp. 0.61% 25,277 $1.4M Add +4.7%
CSCO Cisco Systems Inc. 0.61% 21,873 $1.3M No change
NFE New Fortress Energy Inc. 0.60% 160,000 $1.3M Add +220.0%
NMZ Nuveen Muni Hi Inc. Opport 0.58% 118,950 $1.3M Add +4.4%
GPN Global Payments Inc. 0.57% 12,905 $1.3M No change
ABR Arbor Realty Trust Inc. 0.56% 106,895 $1.3M Add +13.4%
EXFY Expensify Inc. Class A 0.55% 404,485 $1.2M Reduce -26.6%
ARI Apollo Commercial Real Estat 0.55% 127,835 $1.2M Add +6.4%
PDO PIMCO Dynamic Income Opport 0.54% 87,226 $1.2M Add +4.1%
SAR Saratoga Investment Corp. 0.53% 46,680 $1.2M No change
OKE Oneok Inc. 0.52% 11,750 $1.2M Reduce -0.4%
CMBS iShares CMBS ETF 0.51% 23,830 $1.1M Add +3.0%
LZ Legalzoomcom Inc. 0.49% 126,862 $1.1M Reduce -36.6%
ADBE Adobe Inc. 0.48% 2,792 $1.1M Reduce -3.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.46% 1,812 $1.0M Add +0.1%
DHI D.R. Horton Inc. 0.46% 7,970 $1.0M Add +11.7%
HON Honeywell International Inc. 0.43% 4,509 $955K Add +13.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.43% 9,649 $952K Add +12.8%
VZ Verizon Communications Inc. 0.42% 20,840 $945K Reduce -1.2%
BILL Bill Holdings Inc. 0.41% 20,000 $918K New
V Visa Inc. Class A 0.41% 2,617 $917K No change
STWD Starwood Property Trust Inc. 0.41% 46,347 $916K Add +8.7%
FCX Freeport-McMoran Inc. 0.40% 23,569 $892K Add +16.2%
SMWB Similarweb Ltd. 0.39% 104,423 $864K New
HD Home Depot Inc. 0.38% 2,297 $842K Add +13.2%
SBUX Starbucks Corp. 0.37% 8,483 $832K No change
JPC Nuveen Prefered & Income Opp 0.36% 101,305 $806K No change
TXN Texas Instruments Inc. 0.36% 4,450 $800K Add +16.9%
NEE Nextera Energy Inc. 0.35% 11,024 $781K Add +18.7%
UNP Union Pacific Corp. 0.35% 3,297 $779K Add +16.8%
PANW Palo Alto Networks Inc. 0.35% 4,500 $768K No change
KHC The Kraft Heinz Co. 0.33% 24,151 $735K Add +27.2%
WTTR Select Water Solutions Inc. 0.31% 65,000 $683K New
CPRT Copart Inc. 0.31% 12,000 $679K No change
DUK Duke Energy Corp. 0.30% 5,537 $675K No change
AXP American Express Co. 0.30% 2,506 $674K No change
VBTX Veritex Holdings Inc. 0.30% 27,000 $674K No change
PFF iShares Preferred & Income S 0.28% 20,440 $628K Add +2.0%
CSQ Calamos Strat TTL RTRN FND 0.28% 38,800 $628K No change
EOG EOG Resources Inc. 0.28% 4,809 $617K Add +3.5%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.25% 10,000 $547K New
RITM Rithm Capital Corp. 0.23% 45,200 $518K No change
VRSK Verisk Analytics Inc. 0.23% 1,719 $512K No change
NZF Nuveen Municipal Credit Inc. 0.23% 41,710 $510K Add +4.6%
LYB Lyondellbasell Indu Class A 0.22% 7,084 $499K Reduce -4.1%
BDJ BlackRock Enhanced Eqty DVD 0.22% 57,000 $490K No change
MHD BlackRock Muniholdings Fund 0.20% 37,974 $446K Add +13.7%
DOCU Docusign Inc. 0.20% 5,438 $443K Add +2.2%
FISV Fiserv Inc. 0.19% 1,948 $430K Add +4.9%
ETG Eaton Vance T/A GL DVD Incm 0.19% 23,500 $428K No change
DMB BNY Mellon Muni BND Infra 0.19% 40,250 $425K No change
DFP Flaherty & Crumrine DYN Pref 0.19% 20,500 $415K No change
GOOGL Alphabet Inc. Class A 0.18% 2,625 $406K No change
SYK Stryker Corp. 0.18% 1,067 $397K Add +5.1%
MRK Merck & Co. Inc. 0.17% 4,250 $381K No change
TYL Tyler Technologies Inc. 0.17% 654 $380K Add +5.5%
EAF Graftech International Ltd. 0.16% 410,000 $359K No change
XBTAX BlackRock LNG-TRM Muni Adv 0.16% 36,024 $349K No change
CAT Caterpillar Inc. 0.15% 1,015 $335K Add +6.1%
BTZ BlackRock Credit Allocation 0.15% 31,084 $333K No change
DLB Dolby Laboratories Inc. Class A 0.15% 4,132 $332K Add +6.3%
SPOT Spotify Technology SA 0.15% 600 $330K No change
RF Regions Financial Corp. 0.15% 15,000 $326K No change
NBB Nuveen Taxable Municipal Inc. 0.14% 20,000 $320K Add +42.9%
XBXMX Nuveen S&P 500 Buy-WR Inc. 0.13% 21,871 $287K No change
MA Mastercard Inc. Class A 0.13% 517 $283K Add +7.5%
ZBRA Zebra Technologies Corp. Class A 0.13% 994 $281K Add +7.7%
EFX Equifax Inc. 0.13% 1,149 $280K Add +7.8%
DSM BNYM Strat Muni BND filed as BNY MELLON STRATEGIC MUN BD 0.13% 48,475 $280K Add +23.4%
ORCL Oracle Corp. 0.13% 2,000 $280K No change
JNJ Johnson & Johnson 0.13% 1,679 $278K No change
BP BP PLC-Spons ADR 0.12% 7,779 $263K No change
FIS Fidelity National Info Serv 0.12% 3,515 $263K Add +8.5%
JOBY Joby Aviation Inc. 0.12% 43,500 $262K Add +335.0%
CMG Chipotle Mexican Grill Inc. 0.11% 5,000 $251K No change
XLK SS Technology Select Sector 0.11% 1,190 $246K No change
EXP Eagle Materials Inc. 0.11% 1,100 $244K No change
PLD Prologis Inc. 0.10% 2,034 $227K New
PFE Pfizer Inc. 0.10% 8,815 $223K No change
MQY BlackRock Muniyield Quality 0.10% 19,005 $223K No change
QTEC First Trust Nasdq 100 Tech I 0.10% 1,277 $222K No change
DD Dupont DE Nemours Inc. 0.10% 2,963 $221K No change
NSC Norfolk Southern Corp. 0.10% 900 $213K No change
CPAY Corpay Inc. 0.10% 609 $212K New
COST Costco Wholesale Corp. 0.09% 223 $211K No change
CZR Caesars Entertainment Inc. 0.09% 8,339 $208K Add +20.4%
GPMT Granite Point Mortgage Trust 0.09% 79,000 $205K Reduce -34.1%
BFK BlackRock Municipal Inc. TRST 0.09% 20,000 $198K No change
MUE BlackRock Munihold QLT FD II 0.09% 19,000 $190K No change
PML PIMCO Municipal Income FD II 0.08% 22,600 $183K No change
BBN BlackRock Taxable Muni BND 0.08% 10,500 $175K No change
BLE BlackRock Muni Inc. TR II 0.07% 15,000 $156K No change
XPMFX PIMCO Municipal Income Fund 0.07% 17,100 $151K No change
DMF BNYM Municipal Income filed as BNY MELLON MUN INCOME INC 0.06% 20,000 $144K No change
XMVFX BlackRock Munivest Fund 0.06% 20,000 $140K No change
CHI Calamos Convert Opport & Inc. 0.05% 12,000 $115K No change
CHW Calamos Global Dynamic Incom 0.03% 11,000 $70K No change

Options reported separately and not counted above: NFE calls ($1.7M), CRK calls ($1.0M), CBRL calls ($679K), MPT calls ($603K), HIMS calls ($148K).

Other holdings (2): bonds, preferreds, convertibles and warrants · $4.7M (not counted above)
SecurityClassShares / PrincipalValueChange
LIVEPERSON INC (LPSN 0 12/15/26) NOTE 12/1 · principal 9,793,000$3.8MAdd +11.4%
BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) 5.5 CUM CV PFD B 70,903$922KAdd +33.0%

Total filed on the 13F, all lines: $227.2M.

Portfolio Sells Q4 2024 → Q1 2025
AVGO Broadcom Inc. Reduce -29.6% 2.78% −2.19
VERX Vertex Inc. Class A Sold out 0.00% −2.18
IEF iShares 7-10 Year Treasury B Sold out 0.00% −1.40
TLT iShares 20+ Year Treasury BD Sold out 0.00% −1.23
NPO Enpro Inc. Sold out 0.00% −0.95
ZUO Zuora Inc. Class A Sold out 0.00% −0.89
TRIP Tripadvisor Inc. Sold out 0.00% −0.66
PSFE Paysafe Ltd. Sold out 0.00% −0.45
CALY Callaway Golf Company Sold out 0.00% −0.35
AAPL Apple Inc. Reduce -4.3% 4.65% −0.33
OLO Olo Inc. Class A Reduce -15.3% 0.68% −0.25
EXFY Expensify Inc. Class A Reduce -26.6% 0.55% −0.20
SCWX Secureworks Corp. Class A Sold out 0.00% −0.17
LZ Legalzoomcom Inc. Reduce -36.6% 0.49% −0.12
MSFT Microsoft Corp. Reduce -1.9% 2.77% −0.11
LVS Las Vegas Sands Corp. Sold out 0.00% −0.10
SLND Southland Holdings Inc. Reduce -2.9% 1.76% −0.08
KVHI KVH Industries Inc. Reduce -8.6% 0.79% −0.06
LIVEPERSON INC Sold out 0.00% −0.04
GPMT Granite Point Mortgage Trust Reduce -34.1% 0.09% −0.04
ADBE Adobe Inc. Reduce -3.5% 0.48% −0.04
HUCK Huckleberry AI Inc. Reduce -17.6% 0.98% −0.01
LYB Lyondellbasell Indu Class A Reduce -4.1% 0.22% +0.00
IIIV I3 Verticals Inc. Class A Reduce -13.2% 1.44% +0.03
OKE Oneok Inc. Reduce -0.4% 0.52% +0.04
SHEL Shell PLC-ADR Reduce -19.9% 2.00% +0.06
VZ Verizon Communications Inc. Reduce -1.2% 0.42% +0.08
MQ Marqeta Inc. Reduce -5.0% 0.70% +0.08

Portfolio Buys Q4 2024 → Q1 2025
FOR Forestar Group Inc. New 0.62% +0.62
ASPN Aspen Aerogels Inc. Add +226.9% 1.22% +0.59
XNEAX Nuveen Amt-FR QLTY Muni Inc. Add +35.6% 1.43% +0.46
BILL Bill Holdings Inc. New 0.41% +0.41
LSPD Lightspeed Commerce Inc. Add +179.3% 0.94% +0.41
HCAT Health Catalyst Inc. Add +103.1% 1.32% +0.40
SMWB Similarweb Ltd. New 0.39% +0.39
NVG Nuveen Amt-FR Muni CRDT Add +22.6% 1.19% +0.32
WTTR Select Water Solutions Inc. New 0.31% +0.31
SRLN SS Blackstone Sr Loan ETF Add +4.7% 2.44% +0.29
AMGN Amgen Inc. Add +5.1% 1.06% +0.29
PEB Pebblebrook Hotel Trust Add +54.6% 1.37% +0.29
NFE New Fortress Energy Inc. Add +220.0% 0.60% +0.29
VCLT Vanguard Long-Term Corp. Bond Add +17.3% 1.22% +0.29
NAD Nuveen Quality Municipal Inc. Add +20.6% 1.21% +0.29
TTD Trade Desk Inc./the Class A New 0.25% +0.25
TAP Molson Coors Beverage Co. Class B Add +7.9% 1.14% +0.24
LBRT Liberty Energy Inc. Add +54.2% 0.82% +0.21
BHP BHP Group Ltd.-Spon ADR Add +2.9% 1.85% +0.21
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +1.5% 1.93% +0.21
FNF Fidelity National Financial Add +9.4% 0.67% +0.19
OBDC Blue Owl Capital Corp. Add +17.9% 0.91% +0.19
BMY Bristol-Myers Squibb Co. Add +4.7% 0.91% +0.18
AESI Atlas Energy Solutions Inc. Add +46.1% 0.76% +0.17
SLB SLB Ltd. Add +9.4% 0.69% +0.16
LADR Ladder Capital Corp.-REIT Add +10.8% 0.71% +0.14
ARCC Ares Capital Corp. Add +2.1% 1.06% +0.13
SAP Sap SE-Sponsored ADR Add +1.3% 0.72% +0.13
ARI Apollo Commercial Real Estat Add +6.4% 0.55% +0.13
PLD Prologis Inc. New 0.10% +0.10
CPAY Corpay Inc. New 0.10% +0.10
KHC The Kraft Heinz Co. Add +27.2% 0.33% +0.09
BAC Bank of America Corp. Add +5.7% 0.92% +0.09
UNP Union Pacific Corp. Add +16.8% 0.35% +0.09
FCX Freeport-McMoran Inc. Add +16.2% 0.40% +0.09
JOBY Joby Aviation Inc. Add +335.0% 0.12% +0.08
SPG Simon Property Group Inc. Add +7.9% 0.66% +0.08
STWD Starwood Property Trust Inc. Add +8.7% 0.41% +0.08
NMZ Nuveen Muni Hi Inc. Opport Add +4.4% 0.58% +0.08
NEE Nextera Energy Inc. Add +18.7% 0.35% +0.08
PDO PIMCO Dynamic Income Opport Add +4.1% 0.54% +0.08
FDUS Fidus Investment Corp. Add +5.5% 0.62% +0.07
CMBS iShares CMBS ETF Add +3.0% 0.51% +0.07
TXN Texas Instruments Inc. Add +16.9% 0.36% +0.07
ALIT Alight Inc. Class A Add +11.9% 1.25% +0.07
HON Honeywell International Inc. Add +13.5% 0.43% +0.06
ONTF ON24 Inc. Add +23.1% 0.75% +0.06
NBB Nuveen Taxable Municipal Inc. Add +42.9% 0.14% +0.06
HD Home Depot Inc. Add +13.2% 0.38% +0.06
PSEC Prospect Capital Corp. Add +3.9% 0.67% +0.05

Options Activity Q4 2024 → Q1 2025
FICO Fair Isaac Corp. put Sold out 1,000 $2.0Mbefore exit
STRL Sterling Infrastructure Inc. put Sold out 10,000 $1.7Mbefore exit
NFE New Fortress Energy Inc. call Reduce -42.9% 200,000 $1.7M
CRK Comstock Resources Inc. call Add +25.0% 50,000 $1.0M
TSCO Tractor Supply Company call Sold out 12,500 $663Kbefore exit
VNO Vornado Realty Trust call Sold out 15,000 $631Kbefore exit
MPT Medical Properties Trust Inc. call New 100,000 $603K
MAC The Macerich Co. call Sold out 30,000 $598Kbefore exit
TPC Tutor Perini Corp. call Sold out 15,000 $363Kbefore exit
CORZ Core Scientific Inc. call Sold out 25,000 $351Kbefore exit
TFIN Triumph Financial Inc. call Sold out 2,500 $227Kbefore exit
SPCE Virgin Galactic Holdings Inc. call Sold out 30,000 $176Kbefore exit
HIMS Hims & Hers Health Inc. call New 5,000 $148K
COOK Traeger Inc. call Sold out 30,000 $72Kbefore exit
JOBY Joby Aviation Inc. call Sold out 7,500 $61Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q4 2024 → Q1 2025
LIVEPERSON INC (LPSN 0 12/15/26) NOTE 12/1 · principal Add +11.4% 9,793,000 $3.8M
BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) 5.5 CUM CV PFD B Add +33.0% 70,903 $922K
JOBY.WS Joby Aviation Inc. -CW25 *W EXP 08/10/202 Sold out 123,000 $248Kbefore exit
ACHR.WS Archer Aviation Inc. -CW26 *W EXP 09/16/202 Sold out 75,000 $242Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 178$278.1MAAPL, GOOG, BIL, AVGO, HCAT
Q1 2026 162$224.6MAAPL, GOOG, AVGO, XOM, SRLN
Q4 2025 149$231.6MAAPL, GOOG, AVGO, MSFT, SRLN
Q3 2025 148$233.1MAAPL, AVGO, LPRO, GOOG, MSFT
Q2 2025 150$232.8MLPRO, AAPL, BIL, AVGO, MSFT
Q1 2025Amended 152$222.5MAAPL, BIL, AVGO, MSFT, GOOG
Q4 2024Amended 156$244.9MAAPL, AVGO, BIL, MSFT, GOOG
Q3 2024Amended 161$246.2MAAPL, AVGO, BIL, MSFT, GOOG
Q2 2024 159$235.7MAAPL, BIL, AVGO, MSFT, GOOG
Q1 2024 160$230.9MAAPL, AVGO, MSFT, GOOG, XOM