As of June 30, 2025, Book Value per Share stands at $20.47, reflecting a growth of 9.0% in the 2nd Quarter, which represents an overall increase in per-share Book Value of 132.5% since inception in the 4th Quarter of 2022.
- 2nd Quarter 1st Quarter
- Statement of Changes in Equity (value in %)
- Cash and Cash Equivalents 0.6 2.9
- Investments in Marketable Securities:
- Unrealized & Realized Gains (Losses) 6.1 0.8
- Capital Allocation Adjustments (1) 0.8 6.8
- Non-Core Assets Valuations 3.0 2.7
- Other Equity Adjustments (2) 0.1 0.0
- Total Change in per-share Book Value %9.0 %7.4
- $1.69 $1.29
Fair value-based data. Internal valuation only, not publicly traded. ⏐ Unaudited
Marketable Securities Portfolio
No. of Securities
15
QRT Return*
8.1%
YTD Return**
10.0%
Turnover Ratio
Minimal (~5%)
* Returns are calculated using the time-weighted rate of return (TWR) methodology, net of external cash flows, and are reported based on the reference quarter.
** Year-to-date (YTD) returns are calculated from January 1, 2025 through the end of the reporting period.
Aggregated Portfolio Metrics
CAGR
11.8%
Annualized STDEV
9.3%
Sharpe Ratio
0.89
P/E Ratio
20.85
Inception-to-Date (4th Quarter 2022 – 2nd Quarter 2025).
· Issued on July 20, 2025 ·