Form D · Hedge Fund

Sapphire Star Partners Concentrated Stock L.P.

Redmond, WA · CIK 0002005534

Offering snapshot reported Dec 4, 2025 · SEC filing

Reported sold: $18.9M
Investors reported: 18
Minimum accepted: $0
First sale: Jan 1, 2024

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

Reported sold$18,859,588 → $18,879,588

Filing history

Scroll to see all columns →

Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Dec 4, 2025	Amendment	$18,879,588	$20,000vs Dec 13, 2024	18	SEC filing
Dec 13, 2024	Amendment	$18,859,588	No comparison	18	SEC filing
Dec 29, 2023	Initial	Yet to sell	No comparison	0	SEC filing

Offering details

Securities: Pooled investment fund, Other
Exemptions: 06b, 3C, 3C.1
Duration over one year: Yes
Business combination: No

Sales commissions: $0 (estimated)
Finders' fees: $0 (estimated)
Form D file number: 021-501148

Limited Partnership Interests

Source: Form D, filed Dec 4, 2025. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

SAPPHIRE STAR PARTNERS CONCENTRATED STOCK L.P.

Investment adviser: PALOGIC VALUE MANAGEMENT, L.P.

Gross asset value: $30.6M
Beneficial owners: 18
ADV minimum commitment: $1M

Reported in Form ADV on Jun 29, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator EISNER AMPER FUND SERVICES LLC BANGALORE, India Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor CHERRY BEKAERT RALEIGH, North Carolina, United States

Custodian CHARLES SCHWAB & CO., INC. OMAHA, Nebraska, United States Related to adviser: No

Custodian MADISON TRUST COMPANY MONTVALE, New Jersey, United States Related to adviser: No

Custodian NORTHBROOK BANK AND TRUST COMPANY CHICAGO, Illinois, United States Related to adviser: No

Custodian PERSHING LLC JERSEY CITY, New Jersey, United States Related to adviser: No

Prime broker STONEX FINANCIAL INC. NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

CHERRY BEKAERT
PCAOB 677

CHARLES SCHWAB & CO., INC.
SEC 8-16514

PERSHING LLC
SEC 8-17574

STONEX FINANCIAL INC.
CRD 45993 · SEC 8-51269

Filing source

Form ADV 2112007 · Jun 29, 2026 · Schedule D 7.B.(1), fund 805-9069147494

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
Michael Borgen	Executive
N/A Sapphire Star Capital Llc	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

7826 Leary Way Ne Suite 201
Redmond, WA, 98052