You are correct. That is an SEC requirement. The value of any asset at the time of the ending date of quarter. Fixed assets are the same with depreciation taken into account.

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It looks like the investment holdings value changes whenever the price of NTGL stock changes. My guess is they just include the shares they are holding for shareholders of NTGL as an "investment holding" until the time comes they can distribute them as promised. I really don't think it is anything more than that and would not read to much into it.

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