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Twitter (pre-IPO) is 11% of its total portfolio. This is sure to help this fund once Twitter comes on to the IPO market.
This closed ended fund, classified as a common stock due to its Business Development Company status, is basically a hedge fund. It collects 2% on all AUM on top of 20% of any net realized gains. The company's holdings as of 06/30/13 are approximately 40% equities and 60% cash. This means that the equities held by this closed ended fund will have to outperform the market by 250% just to track the benchmark, before management fees! Arguments to own it are that it trades as a discount to its NAV. The reason it trades at a discount to its NAV is because the last time it traded at a premium, shareholders got crushed by equity dilution as the company raised its share count 150% just before the Facebook IPO flop. Stay away!
http://seekingalpha.com/article/911201-get-into-solarcity-and-twitter-before-their-ipos article on SVVC having SolarCity and Twitter shares while they are private companies Bullish
A facebook play. Owns 600,000 FB shares. Stock is trading around $28.
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