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    <issuerName>GUIDEWIRE SOFTWARE, INC.</issuerName>
    <cusip>40171V100</cusip>
    <meetingDate>12/15/2025</meetingDate>
    <voteDescription>To conduct a non-binding, advisory vote to approve the compensation of our named executive offi cers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>65683</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>65683</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>Lennar Corp</issuerName>
    <cusip>526057104</cusip>
    <meetingDate>04/08/2026</meetingDate>
    <voteDescription>Approve, on an advisory basis, the compensation of our named executive officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>118000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>118000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
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  </proxyTable>
  <proxyTable>
    <issuerName>Interactive Brokers Group, Inc.</issuerName>
    <cusip>45841N107</cusip>
    <meetingDate>04/23/2026</meetingDate>
    <voteDescription>To approve, by non-binding vote, executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>1030740</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>1030740</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
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