As of September 30, 2025, Book Value per Share stands at $21.36, reflecting growth of 4.3% in the 3rd Quarter, which represents an overall increase in per-share Book Value of 142.7% since the start of investment activities in the 4th Quarter of 2022.
- 3rd Quarter 2nd Quarter
- Consolidated Statement of Changes in Equity (value in %)
- Cash and Cash Equivalents 3.8 0.6
- Investments in Marketable Securities:
- Unrealized & Realized Gains (Losses) 4.0 6.1
- Capital Allocation Adjustments (1) 2.4 0.8
- Non-Core Assets Valuations 0.1 3.0
- Other Equity Adjustments (2) 1.0 0.1
- Total Change in per-share Book Value %4.3 %9.0
- $0.89 $1.69
Fair value-based data. Internal valuation only, not publicly traded. ⏐ Unaudited
Marketable Securities Portfolio
No. of Securities
15
QRT Return*
5.1%
YTD Return**
15.2%
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
12.7%
Annualized STDEV
8.9%
Sharpe Ratio
1.04
P/E Ratio
20.95
Inception-to-Date (4th Quarter 2022 – 3rd Quarter 2025).
· Issued on October 5, 2025 ·