<SEC-DOCUMENT>0001752724-23-185959.txt : 20230823
<SEC-HEADER>0001752724-23-185959.hdr.sgml : 20230823
<ACCEPTANCE-DATETIME>20230823110700
ACCESSION NUMBER: 0001752724-23-185959
CONFORMED SUBMISSION TYPE: NPORT-P
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20230630
FILED AS OF DATE: 20230823
DATE AS OF CHANGE: 20230823
PERIOD START: 20240331
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: Fundrise Growth Tech Fund, LLC
CENTRAL INDEX KEY: 0001867090
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: NPORT-P
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-23708
FILM NUMBER: 231195760
BUSINESS ADDRESS:
STREET 1: 11 DUPONT CIRCLE NW
STREET 2: 9TH FLOOR
CITY: WASHINGTON
STATE: DC
ZIP: 20036
BUSINESS PHONE: 202-584-0550
MAIL ADDRESS:
STREET 1: 11 DUPONT CIRCLE NW
STREET 2: 9TH FLOOR
CITY: WASHINGTON
STATE: DC
ZIP: 20036
FORMER COMPANY:
FORMER CONFORMED NAME: Fundrise Growth Tech Interval Fund, LLC
DATE OF NAME CHANGE: 20210611
</SEC-HEADER>
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<invstOrSec>
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<invstOrSec>
<name>INSPECTIFY INC</name>
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<invstOrSec>
<name>CLOUDFLARE INC</name>
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</invstOrSec>
<invstOrSec>
<name>BLOCK INC</name>
<lei>549300OHIIUWSTIZME52</lei>
<title>Block, Inc.</title>
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<isin value="US852234AN39"/>
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<securityLending>
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</invstOrSec>
<invstOrSec>
<name>SERVICETITAN INC</name>
<lei>N/A</lei>
<title>Servicetitan, Inc.</title>
<cusip>N/A</cusip>
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<invstOrSec>
<name>SPLUNK INC</name>
<lei>549300XGDSGBP6UEI867</lei>
<title>Splunk, Inc.</title>
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<isin value="US848637AF14"/>
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<name>Northern Institutional U.S. Government Select Portfolio</name>
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<name>Vanta Series B-1 Preferred Stock</name>
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<name>ELASTIC NV</name>
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<name>UNITY SOFTWARE INC</name>
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<title>Unity Software, Inc.</title>
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<name>JAMF HOLDING CORP</name>
<lei>254900IHLXZU4Z5ANA12</lei>
<title>Jamf Holding Corp.</title>
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<name>CONFLUENT INC</name>
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<signature>
<ncom:dateSigned>2023-08-23</ncom:dateSigned>
<ncom:nameOfApplicant>Fundrise Growth Tech Fund, LLC</ncom:nameOfApplicant>
<ncom:signature>/s/ Michelle A. Mirabal</ncom:signature>
<ncom:signerName>Michelle A. Mirabal</ncom:signerName>
<ncom:title>Secretary</ncom:title>
</signature>
</formData>
<documents>XXXX</documents>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>NPORT-EX
<SEQUENCE>2
<FILENAME>04400.htm
<TEXT>
<html><head>
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</head><body style="margin: 0px"><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:1354.50px;width:1039.50px;transform-origin:top left;transform:scale(1.75,1.75)"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABEAAAABZCAYAAAA+aVEPAAAACXBIWXMAABcRAAAXEQHKJvM/AAACjUlEQVR4Xu3dQVFEQRAFwR5ifYEzFidI+VJwMkiY81Rknp+COnSvvfcAAAAAlH2cBgAAAAC3E0AAAACAvDUzz2kEAAAAcLHf18x8nlYAAAAAF3vWzHydVgAAAAAX+1u+wAAAAAB1jqACAAAAeQIIAAAAkCeAAAAAAHkCCAAAAJAngAAAAAB5AggAAACQJ4AAAAAAeQIIAAAAkCeAAAAAAHkCCAAAAJAngAAAAAB5AggAAACQJ4AAAAAAeQIIAAAAkCeAAAAAAHkCCAAAAJAngAAAAAB5AggAAACQJ4AAAAAAeQIIAAAAkCeAAAAAAHkCCAAAAJAngAAAAAB5AggAAACQJ4AAAAAAeQIIAAAAkCeAAAAAAHkCCAAAAJAngAAAAAB5AggAAACQJ4AAAAAAeQIIAAAAkCeAAAAAAHkCCAAAAJAngAAAAAB5AggAAACQJ4AAAAAAeQIIAAAAkCeAAAAAAHkCCAAAAJAngAAAAAB5AggAAACQJ4AAAAAAeQIIAAAAkCeAAAAAAHkCCAAAAJAngAAAAAB5AggAAACQJ4AAAAAAeQIIAAAAkCeAAAAAAHkCCAAAAJAngAAAAAB5AggAAACQJ4AAAAAAeQIIAAAAkCeAAAAAAHkCCAAAAJAngAAAAAB5AggAAACQJ4AAAAAAeQIIAAAAkCeAAAAAAHkCCAAAAJAngAAAAAB5AggAAACQJ4AAAAAAeQIIAAAAkCeAAAAAAHkCCAAAAJAngAAAAAB5AggAAACQJ4AAAAAAeQIIAAAAkCeAAAAAAHkCCAAAAJC3ZuZ9GgEAAABc7HnNzPdpBQAAAHCz18z8nEYAAAAAF3vW3vs0AgAAALiaI6gAAABAngACAAAA5P0DDhQQKSYF77kAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:42.56px;left:0px;position:absolute;top:0px;transform:translate(36.000px,32.226px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:522.00px">
<div style="width:10440px;height:623.98px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,4.78px) rotate(0deg) scale(0.05)">
<div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:32.32px;letter-spacing:5.86px;white-space:nowrap">Fundrise </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:1160.93px;letter-spacing:5.52px;white-space:nowrap">Growth </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:2194.03px;letter-spacing:4.92px;white-space:nowrap">Tech </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:2838.96px;letter-spacing:4.1px;white-space:nowrap">Fund, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:3522.55px;letter-spacing:5.86px;white-space:nowrap">LLC</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:32.32px;letter-spacing:5.86px;white-space:nowrap">Schedule </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:1183px;letter-spacing:3.52px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:1502.73px;letter-spacing:6.15px;white-space:nowrap">Investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:207.97px;left:3015.42px;white-space:nowrap">(Unaudited)</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:447.97px;left:32.32px;letter-spacing:4.92px;white-space:nowrap">June </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:447.97px;left:595.79px;white-space:nowrap">30, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:447.97px;left:895.79px;white-space:nowrap">2023</div></div>
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<div style="height:15.46px;left:0px;position:absolute;top:0px;transform:translate(36.000px,722.745px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:522.00px">
<div style="width:10440px;height:172.8px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,4.46px) rotate(0deg) scale(0.05)">
<div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:5170px;white-space:nowrap">1</div></div>
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<div style="height:15.46px;left:0px;position:absolute;top:0px;transform:translate(36.000px,712.298px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:522.00px">
<div style="width:10440px;height:172.8px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,4.46px) rotate(0deg) scale(0.05)">
<div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:3681.43px;white-space:nowrap">See </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:4020.2px;white-space:nowrap">Notes </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:4536.8px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:4742.36px;white-space:nowrap">Schedule </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:5525.47px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:5742.07px;white-space:nowrap">Investments.</div></div>
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<div 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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:522.00px">
<div style="width:10440px;height:12643.2px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,4.03px) rotate(0deg) scale(0.05)">
<div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:-25.62px;left:4401.95px;white-space:nowrap">(Amounts </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:-25.62px;left:5117.58px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:-25.62px;left:5291.02px;white-space:nowrap">thousands)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:502.73px;left:307.71px;letter-spacing:-0.29px;white-space:nowrap">Par/Shares</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:502.73px;left:3805.99px;white-space:nowrap">Description</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:502.73px;left:7183.87px;white-space:nowrap">Acquisition </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:502.73px;left:8006.29px;white-space:nowrap">Date</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:310.73px;left:8946.57px;letter-spacing:-2.45px;white-space:nowrap">Value </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:310.73px;left:9371.88px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:310.73px;left:9554.15px;white-space:nowrap">of</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:502.73px;left:8852.51px;white-space:nowrap">June </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:502.73px;left:9221.49px;white-space:nowrap">30, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:502.73px;left:9461.49px;white-space:nowrap">2023</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:691.09px;left:0px;white-space:nowrap">Equity </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:691.09px;left:502.42px;white-space:nowrap">Securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:691.09px;left:1208.91px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:691.09px;left:1302.19px;white-space:nowrap">27.8%</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:879.45px;left:360px;white-space:nowrap">Common </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:879.45px;left:1031.09px;white-space:nowrap">Stock</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:879.45px;left:1453.36px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:879.45px;left:1546.64px;white-space:nowrap">15.3%</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1067.81px;left:720px;letter-spacing:-1.47px;white-space:nowrap">Technology</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1067.81px;left:1536.48px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1067.81px;left:1629.77px;white-space:nowrap">15.3%</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1312.81px;left:1121.6px;letter-spacing:-13.33px;white-space:nowrap">80‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1312.81px;left:1408px;white-space:nowrap">Immuta</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1312.81px;left:1905.66px;white-space:nowrap">, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1312.81px;left:1985.66px;white-space:nowrap">Inc. (Cost </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1312.81px;left:2656.67px;white-space:nowrap">$1,022)</div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:1315.4px;left:3199.69px;white-space:nowrap">(1)(2)(3)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1312.81px;left:7470.55px;white-space:nowrap">03/28/23</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1312.81px;left:8515px;letter-spacing:0px;white-space:nowrap">$</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1312.81px;left:9745.72px;letter-spacing:-6.67px;white-space:nowrap">1,022‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1557.81px;left:1041.6px;letter-spacing:-10px;white-space:nowrap">154‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1557.81px;left:1408px;letter-spacing:-0.47px;white-space:nowrap">ServiceTitan</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1557.81px;left:2219.8px;white-space:nowrap">, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1557.81px;left:2299.8px;white-space:nowrap">Inc. (Cost </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1557.81px;left:2970.81px;white-space:nowrap">$10,000)</div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:1560.4px;left:3593.83px;white-space:nowrap">(1)(2)(3)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1557.81px;left:7470.55px;white-space:nowrap">06/26/23</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1557.81px;left:9665.72px;letter-spacing:-5.71px;white-space:nowrap">10,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1746.17px;left:720px;letter-spacing:-2.45px;white-space:nowrap">Total </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1746.17px;left:1109.77px;white-space:nowrap">Common </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1746.17px;left:1780.86px;white-space:nowrap">Stock </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1746.17px;left:2203.13px;white-space:nowrap">(Cost </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1746.17px;left:2607.5px;letter-spacing:-0.98px;white-space:nowrap">$11,022) </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1746.17px;left:8515px;letter-spacing:0px;white-space:nowrap">$</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1746.17px;left:9674.55px;letter-spacing:-6.98px;white-space:nowrap">11,022‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:2029.07px;left:360px;letter-spacing:-0.58px;white-space:nowrap">Preferred </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:2029.07px;left:1060.31px;white-space:nowrap">Stock</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:2029.07px;left:1482.58px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:2029.07px;left:1575.86px;white-space:nowrap">12.5%</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:2217.43px;left:720px;letter-spacing:-1.47px;white-space:nowrap">Technology</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:2217.43px;left:1536.48px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:2217.43px;left:1629.77px;white-space:nowrap">12.5%</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2462.43px;left:1201.6px;letter-spacing:-20px;white-space:nowrap">1‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2462.43px;left:1408px;letter-spacing:-1.04px;white-space:nowrap">Inspectify</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2462.43px;left:2037.38px;white-space:nowrap">, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2462.43px;left:2117.38px;white-space:nowrap">Inc. (Cost </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2462.43px;left:2788.39px;white-space:nowrap">$4,000)</div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:2465.02px;left:3331.41px;white-space:nowrap">(1)(2)(3)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2462.43px;left:7470.55px;white-space:nowrap">06/30/23</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2462.43px;left:8515px;letter-spacing:0px;white-space:nowrap">$</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2462.43px;left:9745.72px;letter-spacing:-6.67px;white-space:nowrap">4,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2707.43px;left:1041.6px;letter-spacing:-10px;white-space:nowrap">555‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2707.43px;left:1405.11px;letter-spacing:-3.55px;white-space:nowrap">Vanta</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2707.43px;left:1809.41px;white-space:nowrap">Series </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2707.43px;left:2240.42px;white-space:nowrap">B-1 </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2707.43px;left:2520.42px;white-space:nowrap">Preferred </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2707.43px;left:3155.58px;white-space:nowrap">Stock (Cost </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2707.43px;left:3946.75px;white-space:nowrap">$5,000)</div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:2710.02px;left:4489.77px;white-space:nowrap">(1)(2)(3)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2707.43px;left:7470.55px;white-space:nowrap">09/07/22</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:2707.43px;left:9745.72px;letter-spacing:-6.67px;white-space:nowrap">5,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:2895.79px;left:720px;letter-spacing:-2.45px;white-space:nowrap">Total </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:2895.79px;left:1109.77px;letter-spacing:-0.58px;white-space:nowrap">Preferred </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:2895.79px;left:1810.08px;white-space:nowrap">Stock </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:2895.79px;left:2232.34px;white-space:nowrap">(Cost </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:2895.79px;left:2636.72px;white-space:nowrap">$9,000) </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:2895.79px;left:8515px;letter-spacing:0px;white-space:nowrap">$</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:2895.79px;left:9745.72px;letter-spacing:-6.67px;white-space:nowrap">9,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3178.69px;left:0px;letter-spacing:-2.45px;white-space:nowrap">Total </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3178.69px;left:389.77px;white-space:nowrap">Equity </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3178.69px;left:892.19px;white-space:nowrap">Securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3178.69px;left:1598.67px;white-space:nowrap">(Cost </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3178.69px;left:2003.05px;white-space:nowrap">$20,022) </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3178.69px;left:8515px;letter-spacing:0px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3178.69px;left:9665.72px;letter-spacing:-5.71px;white-space:nowrap">20,022‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3461.59px;left:0px;white-space:nowrap">Limited </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3461.59px;left:582.19px;white-space:nowrap">Partnership </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3461.59px;left:1439.92px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3461.59px;left:1533.2px;white-space:nowrap">0.7%</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3706.59px;left:1041.6px;letter-spacing:-10px;white-space:nowrap">506‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3706.59px;left:1368px;white-space:nowrap">Theory </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3706.59px;left:1867.14px;letter-spacing:-1.77px;white-space:nowrap">Ventures, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3706.59px;left:2506.98px;letter-spacing:-0.59px;white-space:nowrap">LP  (Cost </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3706.59px;left:3154.48px;white-space:nowrap">$506)</div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:3709.18px;left:3577.5px;white-space:nowrap">(1)(2)(3</div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:3709.18px;left:3872.74px;white-space:nowrap">)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3706.59px;left:7470.55px;white-space:nowrap">04/28/23</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3706.59px;left:8515px;letter-spacing:0px;white-space:nowrap">$</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3706.59px;left:9865.72px;letter-spacing:-10px;white-space:nowrap">506‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3989.49px;left:0px;white-space:nowrap">Fixed </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3989.49px;left:422.19px;white-space:nowrap">Income </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3989.49px;left:968.75px;white-space:nowrap">Securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3989.49px;left:1675.23px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3989.49px;left:1768.52px;white-space:nowrap">27.2%</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:4177.85px;left:360px;white-space:nowrap">Corporate </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:4177.85px;left:1110.86px;white-space:nowrap">Convertible </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:4177.85px;left:1959.61px;white-space:nowrap">Bonds </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:4177.85px;left:2426.56px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:4177.85px;left:2519.84px;white-space:nowrap">7.0%</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:4366.21px;left:720px;letter-spacing:-1.47px;white-space:nowrap">Technology</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:4366.21px;left:1536.48px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:4366.21px;left:1629.77px;white-space:nowrap">7.0%</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4611.21px;left:40px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4611.21px;left:921.6px;letter-spacing:-6.67px;white-space:nowrap">1,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4611.21px;left:1368px;text-rendering:optimizeLegibility;white-space:nowrap">Cloudflare</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4611.21px;left:2043.47px;white-space:nowrap">, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4611.21px;left:2123.47px;white-space:nowrap">Inc., </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4611.21px;left:2447.77px;white-space:nowrap">4.80%, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4611.21px;left:2941.05px;white-space:nowrap">08/15/26 </div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:4613.8px;left:3599.69px;white-space:nowrap">(4)(5)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4611.21px;left:8515px;letter-spacing:0px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4611.21px;left:9865.72px;letter-spacing:-10px;white-space:nowrap">853‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4856.21px;left:921.6px;letter-spacing:-6.67px;white-space:nowrap">1,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4856.21px;left:1368px;text-rendering:optimizeLegibility;white-space:nowrap">Confluent, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4856.21px;left:2079.17px;white-space:nowrap">Inc., </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4856.21px;left:2403.47px;white-space:nowrap">6.17%, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4856.21px;left:2896.75px;white-space:nowrap">01/15/27 </div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:4858.8px;left:3555.39px;white-space:nowrap">(4)(5)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4856.21px;left:9865.72px;letter-spacing:-10px;white-space:nowrap">835‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5101.21px;left:921.6px;letter-spacing:-6.67px;white-space:nowrap">1,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5101.21px;left:1368px;white-space:nowrap">Jamf</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5101.21px;left:1719.02px;white-space:nowrap">Holding </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5101.21px;left:2283.47px;white-space:nowrap">Corp., </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5101.21px;left:2723.47px;white-space:nowrap">0.13%, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5101.21px;left:3216.75px;white-space:nowrap">09/01/26 </div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:5103.8px;left:3875.39px;white-space:nowrap">(4)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5101.21px;left:9865.72px;letter-spacing:-10px;white-space:nowrap">862‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5346.21px;left:921.6px;letter-spacing:-6.67px;white-space:nowrap">1,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5346.21px;left:1368px;white-space:nowrap">Splunk</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5346.21px;left:1821.44px;white-space:nowrap">, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5346.21px;left:1901.44px;white-space:nowrap">Inc., </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5346.21px;left:2225.73px;white-space:nowrap">1.13%, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5346.21px;left:2719.02px;white-space:nowrap">06/15/27 </div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:5348.8px;left:3377.66px;white-space:nowrap">(4)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5346.21px;left:9865.72px;letter-spacing:-10px;white-space:nowrap">868‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5591.21px;left:921.6px;letter-spacing:-6.67px;white-space:nowrap">2,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5591.21px;left:1368px;white-space:nowrap">Unity </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5591.21px;left:1772.45px;white-space:nowrap">Software, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5591.21px;left:2430.03px;white-space:nowrap">Inc., </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5591.21px;left:2754.33px;white-space:nowrap">6.84%, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5591.21px;left:3247.61px;letter-spacing:-0.66px;white-space:nowrap">11/15/26 </div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:5593.8px;left:3900.31px;white-space:nowrap">(4)(5)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5591.21px;left:9745.72px;letter-spacing:-6.67px;white-space:nowrap">1,607‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:5779.57px;left:360px;letter-spacing:-2.45px;white-space:nowrap">Total </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:5779.57px;left:749.77px;white-space:nowrap">Corporate </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:5779.57px;left:1500.63px;white-space:nowrap">Convertible </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:5779.57px;left:2349.38px;white-space:nowrap">Bonds </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:5779.57px;left:2816.33px;white-space:nowrap">(Cost </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:5779.57px;left:3220.7px;white-space:nowrap">$4,993) </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:5779.57px;left:8515px;letter-spacing:0px;white-space:nowrap">$</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:5779.57px;left:9745.72px;letter-spacing:-6.67px;white-space:nowrap">5,025‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6062.46px;left:360px;white-space:nowrap">Corporate </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6062.46px;left:1110.86px;white-space:nowrap">Non-Convertible </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6062.46px;left:2297.42px;white-space:nowrap">Bonds </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6062.46px;left:2764.38px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6062.46px;left:2857.66px;white-space:nowrap">20.2%</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6250.82px;left:720px;letter-spacing:-1.47px;white-space:nowrap">Technology</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6250.82px;left:1536.48px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6250.82px;left:1629.77px;white-space:nowrap">20.2%</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6495.82px;left:40px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6495.82px;left:921.6px;letter-spacing:-6.67px;white-space:nowrap">2,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6495.82px;left:1368px;white-space:nowrap">Block, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6495.82px;left:1830.19px;white-space:nowrap">Inc., </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6495.82px;left:2154.48px;white-space:nowrap">3.50%, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6495.82px;left:2647.77px;white-space:nowrap">06/01/31 </div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:6498.42px;left:3306.41px;white-space:nowrap">(4)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6495.82px;left:9745.72px;letter-spacing:-6.67px;white-space:nowrap">1,659‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6740.82px;left:921.6px;letter-spacing:-6.67px;white-space:nowrap">1,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6740.82px;left:1368px;white-space:nowrap">Block, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6740.82px;left:1830.19px;white-space:nowrap">Inc., </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6740.82px;left:2154.48px;white-space:nowrap">2.75%, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6740.82px;left:2647.77px;white-space:nowrap">06/01/26 </div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:6743.42px;left:3306.41px;white-space:nowrap">(4)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6740.82px;left:9871.66px;letter-spacing:-11.48px;white-space:nowrap">911‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6985.82px;left:921.6px;letter-spacing:-6.67px;white-space:nowrap">2,250‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6985.82px;left:1368px;white-space:nowrap">Elastic </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6985.82px;left:1843.39px;letter-spacing:-5.16px;white-space:nowrap">NV, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6985.82px;left:2133.86px;white-space:nowrap">4.13%, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6985.82px;left:2627.14px;white-space:nowrap">07/15/29 </div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:6988.42px;left:3285.78px;white-space:nowrap">(4)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6985.82px;left:9745.72px;letter-spacing:-6.67px;white-space:nowrap">1,943‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7230.82px;left:921.6px;letter-spacing:-6.67px;white-space:nowrap">1,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7230.82px;left:1368px;white-space:nowrap">Match </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7230.82px;left:1816.75px;white-space:nowrap">Group </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7230.82px;left:2265.58px;white-space:nowrap">Holdings </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7230.82px;left:2892.3px;white-space:nowrap">II, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7230.82px;left:3078.86px;white-space:nowrap">LLC, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7230.82px;left:3461.05px;white-space:nowrap">5.63%, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7230.82px;left:3954.33px;white-space:nowrap">02/15/29 </div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:7233.42px;left:4612.97px;white-space:nowrap">(4)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7230.82px;left:9865.72px;letter-spacing:-10px;white-space:nowrap">939‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7475.82px;left:921.6px;letter-spacing:-6.67px;white-space:nowrap">3,500‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7475.82px;left:1368px;white-space:nowrap">ROBLOX </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7475.82px;left:2065.81px;white-space:nowrap">Corp., </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7475.82px;left:2505.81px;white-space:nowrap">3.88%, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7475.82px;left:2999.09px;white-space:nowrap">05/01/30 </div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:7478.42px;left:3657.74px;white-space:nowrap">(4)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7475.82px;left:9745.72px;letter-spacing:-6.67px;white-space:nowrap">2,954‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7666.76px;left:921.6px;letter-spacing:-6.67px;white-space:nowrap">1,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7666.76px;left:1368px;letter-spacing:-1.86px;white-space:nowrap">Twilio</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7666.76px;left:1783.47px;white-space:nowrap">, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7666.76px;left:1863.47px;white-space:nowrap">Inc., </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7666.76px;left:2187.77px;white-space:nowrap">3.88%, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7666.76px;left:2681.05px;white-space:nowrap">03/15/31 </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7666.76px;left:9865.72px;letter-spacing:-10px;white-space:nowrap">834‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7857.7px;left:921.6px;letter-spacing:-6.67px;white-space:nowrap">2,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7857.7px;left:1368px;letter-spacing:-1.86px;white-space:nowrap">Twilio</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7857.7px;left:1783.47px;white-space:nowrap">, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7857.7px;left:1863.47px;white-space:nowrap">Inc., </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7857.7px;left:2187.77px;white-space:nowrap">3.63%, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7857.7px;left:2681.05px;white-space:nowrap">03/15/29 </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7857.7px;left:9745.72px;letter-spacing:-6.67px;white-space:nowrap">1,703‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8102.7px;left:921.6px;letter-spacing:-6.67px;white-space:nowrap">1,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8102.7px;left:1368px;white-space:nowrap">Uber </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8102.7px;left:1724.95px;letter-spacing:-0.8px;white-space:nowrap">Technologies, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8102.7px;left:2655.73px;white-space:nowrap">Inc., </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8102.7px;left:2980.03px;white-space:nowrap">6.25%, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8102.7px;left:3473.31px;white-space:nowrap">01/15/28 </div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:8105.29px;left:4131.96px;white-space:nowrap">(4)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8102.7px;left:9865.72px;letter-spacing:-10px;white-space:nowrap">996‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8347.7px;left:921.6px;letter-spacing:-6.67px;white-space:nowrap">3,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8347.7px;left:1368px;white-space:nowrap">ZoomInfo</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8347.7px;left:2053.86px;letter-spacing:-0.8px;white-space:nowrap">Technologies, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8347.7px;left:2984.64px;white-space:nowrap">LLC/</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8347.7px;left:3331.28px;white-space:nowrap">ZoomInfo</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8347.7px;left:4020.03px;white-space:nowrap">Finance </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8347.7px;left:4566.52px;white-space:nowrap">Corp., </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8347.7px;left:5006.52px;white-space:nowrap">3.88%, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8347.7px;left:5499.8px;white-space:nowrap">02/01/29 </div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:8350.29px;left:6158.44px;white-space:nowrap">(4)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8347.7px;left:9745.72px;letter-spacing:-6.67px;white-space:nowrap">2,583‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8536.06px;left:360px;letter-spacing:-2.45px;white-space:nowrap">Total </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8536.06px;left:749.77px;white-space:nowrap">Corporate </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8536.06px;left:1500.63px;white-space:nowrap">Non-Convertible </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8536.06px;left:2687.19px;white-space:nowrap">Bonds </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8536.06px;left:3154.14px;white-space:nowrap">(Cost </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8536.06px;left:3558.52px;white-space:nowrap">$14,461) </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8536.06px;left:8515px;letter-spacing:0px;white-space:nowrap">$</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8536.06px;left:9665.72px;letter-spacing:-5.71px;white-space:nowrap">14,522‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8818.96px;left:0px;letter-spacing:-2.45px;white-space:nowrap">Total </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8818.96px;left:389.77px;white-space:nowrap">Fixed </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8818.96px;left:811.95px;white-space:nowrap">Income </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8818.96px;left:1358.52px;white-space:nowrap">Securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8818.96px;left:2065px;white-space:nowrap">(Cost </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8818.96px;left:2469.38px;white-space:nowrap">$19,454) </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8818.96px;left:8515px;letter-spacing:0px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:8818.96px;left:9665.72px;letter-spacing:-5.71px;white-space:nowrap">19,547‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:9101.86px;left:0px;letter-spacing:-1.34px;white-space:nowrap">Short-Term </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:9101.86px;left:842.89px;white-space:nowrap">Investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:9101.86px;left:1709.53px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:9101.86px;left:1802.81px;white-space:nowrap">47.4%</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9346.86px;left:841.6px;letter-spacing:-3.64px;white-space:nowrap">33,988‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9346.86px;left:1368px;white-space:nowrap">Allspring</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9346.86px;left:2012.45px;white-space:nowrap">Government </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9346.86px;left:2852.22px;white-space:nowrap">Money </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9346.86px;left:3345.5px;white-space:nowrap">Market </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9346.86px;left:3847.53px;white-space:nowrap">Fund, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9346.86px;left:4256.52px;white-space:nowrap">Select </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9346.86px;left:4687.45px;white-space:nowrap">Class </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9346.86px;left:5074.17px;white-space:nowrap">Shares, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9346.86px;left:5580.73px;white-space:nowrap">5.14%</div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:9349.45px;left:6043.75px;white-space:nowrap">(6)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9346.86px;left:8515px;letter-spacing:0px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9346.86px;left:9665.72px;letter-spacing:-5.71px;white-space:nowrap">33,988‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9591.86px;left:1041.6px;letter-spacing:-10px;white-space:nowrap">163‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9591.86px;left:1368px;white-space:nowrap">Northern </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9591.86px;left:1985.58px;white-space:nowrap">Institutional </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9591.86px;left:2798.86px;white-space:nowrap">U.S. </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9591.86px;left:3123.39px;white-space:nowrap">Government </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9591.86px;left:3963.16px;white-space:nowrap">Select </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9591.86px;left:4394.09px;white-space:nowrap">Portfolio, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9591.86px;left:5043px;white-space:nowrap">4.99%</div><div style="font-family:"Times New Roman", Times, serif;font-size:93.3px;position:absolute;top:9594.45px;left:5506.02px;white-space:nowrap">(6)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:9591.86px;left:9865.72px;letter-spacing:-10px;white-space:nowrap">163‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:9780.22px;left:0px;letter-spacing:-2.45px;white-space:nowrap">Total </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:9780.22px;left:389.77px;letter-spacing:-1.34px;white-space:nowrap">Short-Term </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:9780.22px;left:1232.66px;white-space:nowrap">Investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:9780.22px;left:2099.3px;white-space:nowrap">(Cost </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:9780.22px;left:2503.67px;white-space:nowrap">$34,151) </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:9780.22px;left:8515px;letter-spacing:0px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:9780.22px;left:9665.72px;letter-spacing:-5.71px;white-space:nowrap">34,151‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10063.12px;left:0px;letter-spacing:-2.45px;white-space:nowrap">Total </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10063.12px;left:389.77px;white-space:nowrap">investments, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10063.12px;left:1278.59px;white-space:nowrap">at </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10063.12px;left:1451.88px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10063.12px;left:1856.33px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10063.12px;left:1949.61px;white-space:nowrap">103.1% </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10063.12px;left:2509.61px;white-space:nowrap">(Cost </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10063.12px;left:2913.98px;white-space:nowrap">$74,133) </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10063.12px;left:8515px;letter-spacing:0px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10063.12px;left:9665.72px;letter-spacing:-5.71px;white-space:nowrap">74,226‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10251.47px;left:0px;letter-spacing:-0.48px;white-space:nowrap">Other </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10251.47px;left:445.86px;white-space:nowrap">assets </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10251.47px;left:876.95px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10251.47px;left:1050.39px;white-space:nowrap">excess </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10251.47px;left:1507.97px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10251.47px;left:1681.25px;white-space:nowrap">liabilities </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10251.47px;left:2343.52px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10251.47px;left:2436.8px;white-space:nowrap">(3.1)%</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10251.47px;left:9692.44px;letter-spacing:-5px;white-space:nowrap">(2,254‌)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10439.83px;left:0px;letter-spacing:-2.45px;white-space:nowrap">Total </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10439.83px;left:389.77px;white-space:nowrap">Net </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10439.83px;left:660.78px;white-space:nowrap">Assets </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10439.83px;left:1127.42px;white-space:nowrap">- </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10439.83px;left:1220.7px;white-space:nowrap">100.0%</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10439.83px;left:8515px;letter-spacing:0px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:10439.83px;left:9665.72px;letter-spacing:-5.71px;white-space:nowrap">71,972‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:0px;white-space:nowrap">(1)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:288px;white-space:nowrap">Represents </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:1044.58px;letter-spacing:0px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:1863.51px;text-rendering:optimizeLegibility;white-space:nowrap">classified </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:2513.53px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:2701.37px;letter-spacing:0px;white-space:nowrap">Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:3120.14px;white-space:nowrap">3 </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:3254.69px;white-space:nowrap">within </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:3718.15px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:3968.17px;white-space:nowrap">three-tier </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:4608.97px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:4885.56px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:5286.59px;letter-spacing:-0.94px;white-space:nowrap">hierarchy. </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:5974.82px;white-space:nowrap">See </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:6260.39px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:6510.41px;white-space:nowrap">accompanying </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:7497.93px;white-space:nowrap">notes </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:7890.22px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:8069.22px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:8319.24px;white-space:nowrap">Schedule </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:8960.28px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:9148.11px;white-space:nowrap">Investments</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:9975.87px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:10818.77px;left:10216.98px;white-space:nowrap">an </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:288px;white-space:nowrap">explanation </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:1074.41px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:1247.69px;white-space:nowrap">this </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:1518.86px;letter-spacing:-0.94px;white-space:nowrap">hierarchy, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:2192.53px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:2365.81px;white-space:nowrap">well </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:2681.28px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:2854.56px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:2965.58px;white-space:nowrap">list </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:3201.2px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:3374.48px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:4081.13px;white-space:nowrap">unobservable </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:4974.17px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:5405.34px;white-space:nowrap">used </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:5738.63px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:5903.08px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:6138.55px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:6773.94px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:6947.22px;white-space:nowrap">these </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11010.77px;left:7315.97px;white-space:nowrap">instruments</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.71px;left:0px;white-space:nowrap">(2)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:288px;white-space:nowrap">Restricted </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:977px;letter-spacing:-1.04px;white-space:nowrap">security. </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:1550.52px;letter-spacing:0px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:1839.59px;white-space:nowrap">aggregate </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:2501.71px;letter-spacing:0px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:2888.52px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:3062.13px;white-space:nowrap">restricted </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:3697.68px;white-space:nowrap">securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:4342.23px;white-space:nowrap">at </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:4498.02px;white-space:nowrap">June </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:4831.62px;white-space:nowrap">30, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:5071.95px;white-space:nowrap">2023 </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:5432.27px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:5579.31px;white-space:nowrap">approximately </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:6543.77px;white-space:nowrap">$20,528 </div><div style="font-family:"Times New Roman", serif;font-size:160px;font-style:italic;position:absolute;top:11201.87px;left:7104.1px;white-space:nowrap">(amount </div><div style="font-family:"Times New Roman", serif;font-size:160px;font-style:italic;position:absolute;top:11201.87px;left:7677.7px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", serif;font-size:160px;font-style:italic;position:absolute;top:11201.87px;left:7842.48px;white-space:nowrap">thousands)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:8585.07px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:8856.41px;white-space:nowrap">represents </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:9545.32px;white-space:nowrap">28.5% </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:9998.93px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11201.87px;left:10172.53px;white-space:nowrap">net </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11393.87px;left:288px;white-space:nowrap">assets.</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11584.8px;left:0px;white-space:nowrap">(3)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11584.8px;left:288px;white-space:nowrap">Non-income </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11584.8px;left:1127.77px;white-space:nowrap">producing </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11584.8px;left:1816.52px;white-space:nowrap">investment.</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:0px;white-space:nowrap">(4)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:288px;white-space:nowrap">Security </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:883.83px;letter-spacing:0px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:1053.17px;white-space:nowrap">exempt </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:1586.74px;white-space:nowrap">from </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:1960.38px;white-space:nowrap">registration </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:2751.68px;white-space:nowrap">under </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:3178.6px;white-space:nowrap">Rule </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:3543.41px;letter-spacing:-1.77px;white-space:nowrap">144A </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:3952.76px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:4148.66px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:4406.76px;white-space:nowrap">Securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:5091.49px;white-space:nowrap">Act </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:5385.13px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:5581.04px;white-space:nowrap">1933. </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:6000.78px;white-space:nowrap">These </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:6445.43px;white-space:nowrap">securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:7112.28px;white-space:nowrap">may </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:7450.37px;white-space:nowrap">be </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:7664.01px;white-space:nowrap">resold </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:8117.65px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:8304.73px;text-rendering:optimizeLegibility;white-space:nowrap">qualified </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:8927.28px;white-space:nowrap">institutional </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:9754.36px;white-space:nowrap">buyers </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11775.74px;left:10243.55px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:288px;white-space:nowrap">transactions </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:1092.22px;white-space:nowrap">exempt </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:1603.16px;white-space:nowrap">from </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:1954.17px;white-space:nowrap">registration. </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:2754.02px;white-space:nowrap">At </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:2954.02px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:3189.48px;white-space:nowrap">period </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:3638.23px;white-space:nowrap">end, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:3949.25px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:4184.72px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:4571.2px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:4744.48px;white-space:nowrap">these </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:5113.23px;white-space:nowrap">securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:5757.45px;white-space:nowrap">amounted </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:6428.39px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:6592.84px;white-space:nowrap">$17,010 </div><div style="font-family:"Times New Roman", serif;font-size:160px;font-style:italic;position:absolute;top:11967.74px;left:7152.84px;white-space:nowrap">(amount </div><div style="font-family:"Times New Roman", serif;font-size:160px;font-style:italic;position:absolute;top:11967.74px;left:7726.13px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", serif;font-size:160px;font-style:italic;position:absolute;top:11967.74px;left:7890.58px;white-space:nowrap">thousands)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:8632.84px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:8806.13px;white-space:nowrap">23.6% </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:9259.41px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:9432.69px;white-space:nowrap">net </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:11967.74px;left:9668.16px;white-space:nowrap">assets.</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12158.68px;left:0px;white-space:nowrap">(5)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12158.68px;left:288px;white-space:nowrap">Zero </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12158.68px;left:630.03px;white-space:nowrap">coupon </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12158.68px;left:1141.05px;white-space:nowrap">bond. </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12158.68px;left:1541.05px;white-space:nowrap">Interest </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12158.68px;left:2060.81px;white-space:nowrap">rate </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12158.68px;left:2340.58px;white-space:nowrap">presented </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12158.68px;left:2993.63px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12158.68px;left:3140.34px;white-space:nowrap">yield </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12158.68px;left:3500.27px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12158.68px;left:3664.72px;letter-spacing:-1.15px;white-space:nowrap">maturity.</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:0px;white-space:nowrap">(6)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:288px;white-space:nowrap">Rate </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:621.2px;white-space:nowrap">disclosed </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:1256.67px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:1403.39px;white-space:nowrap">representative </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:2340.66px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:2513.94px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:2749.41px;white-space:nowrap">Fund's </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:3209.48px;white-space:nowrap">seven-day </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:3898.08px;text-rendering:optimizeLegibility;white-space:nowrap">effective </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:4487.69px;white-space:nowrap">yield </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:4847.61px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:5020.89px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:5194.17px;white-space:nowrap">June </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:5527.45px;white-space:nowrap">30, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:12349.62px;left:5767.45px;white-space:nowrap">2023.</div></div>
</div>
</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:1354.50px;width:1039.50px;transform-origin:top left;transform:scale(1.75,1.75)"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
<div style="background-image:url(data:image/png;base64,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);background-repeat:no-repeat;background-size:cover;height:42.56px;left:0px;position:absolute;top:0px;transform:translate(36.000px,32.423px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:522.00px">
<div style="width:10440px;height:715.95px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,4.78px) rotate(0deg) scale(0.05)">
<div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:32.32px;letter-spacing:5.86px;white-space:nowrap">Fundrise </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:1160.93px;letter-spacing:5.52px;white-space:nowrap">Growth </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:2194.03px;letter-spacing:4.92px;white-space:nowrap">Tech </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:2838.96px;letter-spacing:4.1px;white-space:nowrap">Fund, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:3522.55px;letter-spacing:5.86px;white-space:nowrap">LLC</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:32.32px;letter-spacing:5.27px;white-space:nowrap">Notes </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:758.29px;letter-spacing:2.31px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:1085.34px;letter-spacing:5.86px;white-space:nowrap">Schedule </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:2236.03px;letter-spacing:3.52px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:2555.75px;letter-spacing:6.15px;white-space:nowrap">Investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:207.97px;left:4068.45px;white-space:nowrap">(Unaudited)</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:447.97px;left:32.32px;letter-spacing:4.92px;white-space:nowrap">June </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:447.97px;left:595.79px;white-space:nowrap">30, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:447.97px;left:895.79px;white-space:nowrap">2023</div></div>
</div>
<div style="height:15.46px;left:0px;position:absolute;top:0px;transform:translate(36.000px,722.745px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:522.00px">
<div style="width:10440px;height:172.8px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,4.46px) rotate(0deg) scale(0.05)">
<div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:5170px;white-space:nowrap">2</div></div>
</div>
<div style="height:637.94px;left:0px;position:absolute;top:0px;transform:translate(36.000px,80.175px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:522.00px">
<div style="width:10440px;height:12643.2px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,4.78px) rotate(0deg) scale(0.05)">
<div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;position:absolute;top:-32.03px;left:0px;white-space:nowrap">1. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;position:absolute;top:-32.03px;left:200px;white-space:nowrap">Formation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;position:absolute;top:-32.03px;left:1160.94px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;position:absolute;top:-32.03px;left:1533.4px;white-space:nowrap">Organization</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:0px;white-space:nowrap">Fundrise </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:755px;letter-spacing:0px;white-space:nowrap">Growth </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:1417.42px;letter-spacing:-2.79px;white-space:nowrap">Tech </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:1858.16px;white-space:nowrap">Fund, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:2374.38px;letter-spacing:0px;white-space:nowrap">LLC </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:2807.11px;white-space:nowrap">(the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:3173.05px;white-space:nowrap">“Fund” </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:3816.82px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:4038.42px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:4337.75px;white-space:nowrap">“Registrant”) </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:5458.96px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:5647.35px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:5791.12px;white-space:nowrap">Delaware </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:6612.23px;white-space:nowrap">limited </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:7233.83px;white-space:nowrap">liability </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:7910.99px;white-space:nowrap">company </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:8699.1px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:9097.86px;white-space:nowrap">has </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:9419.46px;white-space:nowrap">elected </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:10040.67px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:423.97px;left:10251.23px;white-space:nowrap">be </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:0px;white-space:nowrap">taxed </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:477.64px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:688.78px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:822.09px;letter-spacing:0px;white-space:nowrap">regulated </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:1610.67px;white-space:nowrap">invesment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:2477.28px;letter-spacing:0px;white-space:nowrap">company </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:3254.93px;white-space:nowrap">("RIC") </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:3929.35px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:4207.09px;white-space:nowrap">U.S. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:4607.29px;letter-spacing:0px;white-space:nowrap">federal </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:5206.91px;white-space:nowrap">income </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:5840.12px;white-space:nowrap">tax </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:6128.99px;white-space:nowrap">purposes </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:6884.56px;white-space:nowrap">under </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:7384.47px;white-space:nowrap">Part </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:7751.18px;white-space:nowrap">I </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:7862.32px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:8073.46px;white-space:nowrap">Subchapter </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:9017.71px;white-space:nowrap">M </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:9240.08px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:9451.22px;white-space:nowrap">Chapter </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:10128.86px;white-space:nowrap">1 </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:663.97px;left:10273.4px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:0px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:296.9px;letter-spacing:0px;white-space:nowrap">Internal </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:971.35px;letter-spacing:0px;white-space:nowrap">Revenue </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:1723.62px;white-space:nowrap">Code </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:2198.36px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:2417.53px;letter-spacing:0px;white-space:nowrap">1986, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:2920.09px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:3139.26px;white-space:nowrap">amended </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:3913.71px;white-space:nowrap">(the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:4277.21px;letter-spacing:0px;white-space:nowrap">“Subchapter </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:5318.26px;white-space:nowrap">M”), </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:5754.03px;white-space:nowrap">commencing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:6839.6px;white-space:nowrap">with </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:7247.74px;white-space:nowrap">its </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:7489.27px;white-space:nowrap">taxable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:8119.28px;white-space:nowrap">year </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:8515.99px;white-space:nowrap">ending </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:9112.89px;white-space:nowrap">March </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:9687.43px;white-space:nowrap">31, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:903.97px;left:9990px;white-space:nowrap">2023. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:0px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:354.14px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:808.57px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:985.17px;letter-spacing:-0.36px;white-space:nowrap">organized </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:1813.23px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:2023.03px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:2155px;white-space:nowrap">continuously </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:3231.51px;text-rendering:optimizeLegibility;white-space:nowrap">offered, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:3889.65px;text-rendering:optimizeLegibility;white-space:nowrap">non-diversified, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:5193.79px;white-space:nowrap">closed-end </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:6103.29px;white-space:nowrap">management </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:7168.27px;white-space:nowrap">investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:8089.11px;white-space:nowrap">company </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:8865.42px;white-space:nowrap">registered </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:9697.09px;white-space:nowrap">under </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1143.97px;left:10195.66px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:0px;white-space:nowrap">Investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:940.72px;white-space:nowrap">Company </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:1759.47px;white-space:nowrap">Act </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:2100.29px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:2318.94px;letter-spacing:0px;white-space:nowrap">1940, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:2820.99px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:3039.64px;white-space:nowrap">amended </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:3813.56px;white-space:nowrap">(the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:4176.55px;white-space:nowrap">“1940 </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:4706.33px;white-space:nowrap">Act”). </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:5248.9px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:5611.89px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:6208.57px;white-space:nowrap">registration </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:7171.46px;white-space:nowrap">statement </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:7989.91px;white-space:nowrap">was </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:8352.99px;white-space:nowrap">declared </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:9082.29px;text-rendering:optimizeLegibility;white-space:nowrap">effective </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:9821.35px;white-space:nowrap">on </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1383.97px;left:10073.4px;white-space:nowrap">May </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1623.97px;left:0px;letter-spacing:-1.86px;white-space:nowrap">11, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1623.97px;left:292.58px;white-space:nowrap">2022. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1623.97px;left:788.96px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1623.97px;left:1149.9px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1623.97px;left:1611.13px;white-space:nowrap">commenced </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1623.97px;left:2627.34px;white-space:nowrap">investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1623.97px;left:3554.98px;white-space:nowrap">operations </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1623.97px;left:4438.09px;white-space:nowrap">on </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1623.97px;left:4688.09px;white-space:nowrap">July </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1623.97px;left:5071.48px;white-space:nowrap">25, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1623.97px;left:5371.48px;white-space:nowrap">2022.</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:0px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:381.94px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:997.58px;letter-spacing:0px;white-space:nowrap">investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:1946.22px;letter-spacing:0px;white-space:nowrap">objective </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:2750.23px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:2954.64px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:3181.21px;white-space:nowrap">provide </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:3863.15px;white-space:nowrap">total </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:4289.62px;white-space:nowrap">return </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:4838.17px;letter-spacing:0px;white-space:nowrap">primarily </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:5653.41px;white-space:nowrap">through </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:6346.59px;white-space:nowrap">long-term </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:7206.26px;white-space:nowrap">capital </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:7810.28px;white-space:nowrap">appreciation. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:8916.05px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:9297.99px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:9780.23px;white-space:nowrap">seeks </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2079.97px;left:10284.43px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:0px;white-space:nowrap">achieve </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:656.84px;white-space:nowrap">its </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:892px;letter-spacing:0px;white-space:nowrap">investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:1815.83px;white-space:nowrap">objective </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:2595.03px;white-space:nowrap">by </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:2841.23px;white-space:nowrap">investing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:3620.72px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:3822.48px;white-space:nowrap">technology </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:4757.35px;letter-spacing:0px;white-space:nowrap">companies, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:5708.82px;white-space:nowrap">with </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:6110.58px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:6245.54px;white-space:nowrap">primary </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:6924.84px;white-space:nowrap">focus </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:7404.24px;white-space:nowrap">on </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:7650.44px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:7940.97px;white-space:nowrap">equity </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:8487.06px;white-space:nowrap">securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:9288.53px;white-space:nowrap">(e.g., </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2319.97px;left:9740.1px;white-space:nowrap">common </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:0px;white-space:nowrap">stock, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:510.6px;white-space:nowrap">preferred </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:1281.75px;white-space:nowrap">stock, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:1792.35px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:2119.55px;white-space:nowrap">convertible </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:3057.59px;white-space:nowrap">debt) </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:3506.96px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:3711.99px;white-space:nowrap">certain </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:4294.47px;white-space:nowrap">privately </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:5043.74px;letter-spacing:0px;white-space:nowrap">held, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:5476.51px;white-space:nowrap">mid-to-late-stage, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:6931.05px;white-space:nowrap">growth </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:7536.09px;white-space:nowrap">companies </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:8429.79px;white-space:nowrap">(“Portfolio </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2559.97px;left:9334.73px;white-space:nowrap">Companies”), </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:0px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:246.49px;letter-spacing:0px;white-space:nowrap">other </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:737.33px;letter-spacing:0px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:1772.69px;letter-spacing:0px;white-space:nowrap">(including </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:2674.65px;white-space:nowrap">derivatives </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:3631.99px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:4000.65px;white-space:nowrap">debt) </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:4491.48px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:4871.27px;letter-spacing:0px;white-space:nowrap">have </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:5328.71px;white-space:nowrap">economic </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:6186.04px;white-space:nowrap">characteristics </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:7409.69px;white-space:nowrap">similar </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:8045.05px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:8280.51px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:9315.87px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2799.97px;left:9551.33px;white-space:nowrap">technology </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:0px;white-space:nowrap">companies. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:957.09px;letter-spacing:-1.18px;white-space:nowrap">Generally, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:1834.4px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:2130.56px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:2727.01px;white-space:nowrap">investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:3656.47px;white-space:nowrap">strategy </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:4341.39px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:4526.61px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:4734px;white-space:nowrap">invest </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:5263.56px;white-space:nowrap">at </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:5459.71px;white-space:nowrap">least </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:5878.04px;white-space:nowrap">80% </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:6296.46px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:6514.88px;white-space:nowrap">its </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:6755.67px;white-space:nowrap">net </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:7051.83px;white-space:nowrap">assets </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:7570.25px;white-space:nowrap">(plus </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:8022.07px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:8318.23px;white-space:nowrap">amount </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:8969.95px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:9188.37px;white-space:nowrap">any </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3039.97px;left:9528.96px;white-space:nowrap">borrowings </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:0px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:295.65px;white-space:nowrap">investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:1235.74px;white-space:nowrap">purposes) </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:2075.82px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:2293.84px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:2600.62px;white-space:nowrap">securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:3418.34px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:3647.4px;white-space:nowrap">private </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:4265.12px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:4616.34px;white-space:nowrap">public </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:5178.69px;white-space:nowrap">technology </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:6129.81px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:6481.03px;white-space:nowrap">technology-related </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:8042.79px;white-space:nowrap">companies </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:8960.51px;white-space:nowrap">(referred </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:9722.28px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3279.97px;left:9940.29px;white-space:nowrap">herein </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:0px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:228.02px;letter-spacing:0px;white-space:nowrap">“technology </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:1266.88px;letter-spacing:0px;white-space:nowrap">companies”) </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:2338.94px;letter-spacing:0px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:2689.12px;white-space:nowrap">other </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:3161.48px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:4178.36px;white-space:nowrap">(including </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:5061.85px;letter-spacing:0px;white-space:nowrap">derivatives </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:6000.71px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:6350.89px;white-space:nowrap">debt) </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:6823.25px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:7184.57px;white-space:nowrap">have </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:7623.52px;white-space:nowrap">economic </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:8462.38px;white-space:nowrap">characteristics </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:9667.55px;white-space:nowrap">similar </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3519.97px;left:10284.43px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3759.97px;left:0px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3759.97px;left:1005.47px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3759.97px;left:1211.04px;white-space:nowrap">technology </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3759.97px;left:2149.71px;white-space:nowrap">companies. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:0px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:381.17px;white-space:nowrap">investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:1329.03px;white-space:nowrap">adviser </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:1976.8px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:2202.6px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:2517.16px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:2998.62px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:3202.25px;white-space:nowrap">Fundrise </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:3961.44px;white-space:nowrap">Advisors, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:4803.94px;white-space:nowrap">LLC </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:5251.9px;white-space:nowrap">(the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:5633.07px;white-space:nowrap">“Adviser”), </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:6630.64px;white-space:nowrap">an </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:6889.64px;white-space:nowrap">investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:7837.5px;white-space:nowrap">adviser </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:8485.27px;white-space:nowrap">registered </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:9343.98px;white-space:nowrap">with </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:9769.77px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4215.97px;left:10084.34px;white-space:nowrap">U.S. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:0px;white-space:nowrap">Securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:843.68px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:1187.46px;white-space:nowrap">Exchange </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:2030.95px;letter-spacing:0px;white-space:nowrap">Commission </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:3097.29px;white-space:nowrap">(“SEC”) </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:3829.84px;white-space:nowrap">under </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:4340.22px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:4639.57px;letter-spacing:0px;white-space:nowrap">Investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:5572.22px;white-space:nowrap">Advisers </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:6327.23px;white-space:nowrap">Act </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:6671.01px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:6892.62px;white-space:nowrap">1940, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:7397.63px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:7619.24px;white-space:nowrap">amended. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:8442.52px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:8797.43px;white-space:nowrap">Adviser </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:9485.64px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:9674.05px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4455.97px;left:9817.83px;white-space:nowrap">wholly-</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:0px;white-space:nowrap">owned </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:578.39px;letter-spacing:0px;white-space:nowrap">subsidiary </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:1445.75px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:1657.55px;white-space:nowrap">Rise </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:2058.3px;white-space:nowrap">Companies </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:3003.4px;white-space:nowrap">Corp. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:3498.59px;white-space:nowrap">(“Rise </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:4054.72px;white-space:nowrap">Companies” </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:5088.58px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:5300.37px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:5589.9px;white-space:nowrap">“Sponsor”), </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:6584.89px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:6874.42px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:7464.24px;letter-spacing:-1.23px;white-space:nowrap">sponsor. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:8170.66px;white-space:nowrap">Subject </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:8815.76px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:9016.51px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:9306.04px;white-space:nowrap">supervision </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4695.97px;left:10273.4px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:0px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:300.62px;letter-spacing:0px;white-space:nowrap">Board </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:845.68px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:1068.57px;letter-spacing:0px;white-space:nowrap">Directors </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:1869px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:2091.88px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:2392.51px;letter-spacing:0px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:2860.03px;white-space:nowrap">(the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:3227.25px;white-space:nowrap">“Board”), </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:4066.45px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:4356.04px;white-space:nowrap">Adviser </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:5045.53px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:5235.21px;white-space:nowrap">responsible </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:6202.44px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:6491.93px;white-space:nowrap">directing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:7259.05px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:7559.68px;white-space:nowrap">management </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:8637.74px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:8860.63px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:9161.25px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4935.97px;left:9762.17px;white-space:nowrap">business </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5175.97px;left:0px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5175.97px;left:338.77px;text-rendering:optimizeLegibility;white-space:nowrap">affairs, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5175.97px;left:937.11px;white-space:nowrap">managing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5175.97px;left:1775.78px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5175.97px;left:2070.12px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5175.97px;left:2664.75px;white-space:nowrap">day-to-day </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5175.97px;left:3581.05px;text-rendering:optimizeLegibility;white-space:nowrap">affairs, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5175.97px;left:4179.39px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5175.97px;left:4518.16px;white-space:nowrap">implementing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5175.97px;left:5679.1px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5175.97px;left:5973.44px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5175.97px;left:6568.07px;white-space:nowrap">investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5175.97px;left:7495.7px;letter-spacing:-1.3px;white-space:nowrap">strategy. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;position:absolute;top:5631.97px;left:0px;white-space:nowrap">2. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;position:absolute;top:5631.97px;left:200px;white-space:nowrap">Summary </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;position:absolute;top:5631.97px;left:1094.43px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;position:absolute;top:5631.97px;left:1311.04px;text-rendering:optimizeLegibility;white-space:nowrap">Significant </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;position:absolute;top:5631.97px;left:2261.43px;white-space:nowrap">Accounting </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;position:absolute;top:5631.97px;left:3289.26px;white-space:nowrap">Policies</div><div style="font-family:"Times New Roman", serif;font-size:200px;font-style:italic;font-weight:bold;position:absolute;top:5979.97px;left:0px;letter-spacing:-2.22px;white-space:nowrap">Valuation </div><div style="font-family:"Times New Roman", serif;font-size:200px;font-style:italic;font-weight:bold;position:absolute;top:5979.97px;left:850.39px;white-space:nowrap">Oversight</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:0px;white-space:nowrap">In </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:210.04px;letter-spacing:0px;white-space:nowrap">connection </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:1130.91px;letter-spacing:0px;white-space:nowrap">with </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:1529.91px;white-space:nowrap">SEC </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:1940.14px;white-space:nowrap">Rule </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:2361.31px;white-space:nowrap">2a-5, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:2810.12px;text-rendering:optimizeLegibility;white-space:nowrap">effective </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:3540.56px;white-space:nowrap">September </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:4439.27px;white-space:nowrap">2022, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:4932.71px;letter-spacing:0px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:5220.48px;white-space:nowrap">Board </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:5752.68px;white-space:nowrap">has </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:6062.72px;white-space:nowrap">approved </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:6850.29px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:7127.03px;white-space:nowrap">Adviser </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:7803.66px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:8013.7px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:8301.47px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:8885.92px;letter-spacing:-2.22px;white-space:nowrap">Valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6327.97px;left:9695.86px;white-space:nowrap">Designee </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:0px;letter-spacing:-1.85px;white-space:nowrap">(“Valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:974.76px;white-space:nowrap">Designee”), </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:1977.16px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:2185.61px;white-space:nowrap">provide </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:2849.43px;white-space:nowrap">administration </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:4057.68px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:4399.34px;white-space:nowrap">oversight </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:5196.56px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:5416.04px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:5713.27px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:6310.78px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:7107.9px;white-space:nowrap">policies </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:7782.86px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:8124.51px;white-space:nowrap">procedures. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:9101.13px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:9464.95px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6567.97px;left:9929.06px;white-space:nowrap">values </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:0px;white-space:nowrap">its </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:235.41px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:1237.33px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:1439.34px;white-space:nowrap">accordance </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:2385.01px;white-space:nowrap">with </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:2787.02px;white-space:nowrap">such </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:3200.07px;white-space:nowrap">procedures. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:4173.86px;letter-spacing:-1.18px;white-space:nowrap">Generally, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:5045.8px;white-space:nowrap">portfolio </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:5792.15px;white-space:nowrap">securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:6593.87px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:6929.09px;white-space:nowrap">other </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:7386.47px;white-space:nowrap">assets </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:7899.52px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:8179.17px;white-space:nowrap">which </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:8714.39px;white-space:nowrap">market </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:9316.11px;white-space:nowrap">quotations </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6807.97px;left:10195.86px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:0px;white-space:nowrap">readily </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:598.76px;letter-spacing:0px;white-space:nowrap">available </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:1364.03px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:1651.65px;white-space:nowrap">valued </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:2228.25px;white-space:nowrap">at </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:2416.07px;white-space:nowrap">market </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:3014.83px;white-space:nowrap">value, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:3541.43px;white-space:nowrap">which </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:4073.68px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:4250.57px;white-space:nowrap">ordinarily </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:5082.73px;white-space:nowrap">determined </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:6025.83px;white-space:nowrap">on </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:6269.31px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:6557.14px;white-space:nowrap">basis </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:7000.63px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:7210.71px;text-rendering:optimizeLegibility;white-space:nowrap">official </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:7812.31px;white-space:nowrap">closing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:8433.53px;white-space:nowrap">prices </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:8954.56px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:9164.65px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:9452.47px;white-space:nowrap">last </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7047.97px;left:9773.69px;white-space:nowrap">reported </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:0px;white-space:nowrap">sales </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:433.7px;white-space:nowrap">prices. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:1006.17px;white-space:nowrap">If </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:1184.3px;letter-spacing:0px;white-space:nowrap">market </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:1784.5px;white-space:nowrap">quotations </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:2662.73px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:2951.8px;white-space:nowrap">not </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:3252.3px;white-space:nowrap">readily </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:3852.5px;white-space:nowrap">available </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:4619.2px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:4830.74px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:5119.8px;white-space:nowrap">deemed </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:5786.61px;white-space:nowrap">unreliable, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:6681.15px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:6970.41px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:7426.57px;white-space:nowrap">will </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:7782.63px;white-space:nowrap">use </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:8094.16px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:8383.43px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:8705.9px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:9183.93px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:9395.46px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7287.97px;left:9684.73px;white-space:nowrap">securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:0px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:216.25px;white-space:nowrap">other </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:676.83px;white-space:nowrap">assets </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:1193.08px;letter-spacing:0px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:1409.33px;white-space:nowrap">determined </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:2358.58px;white-space:nowrap">by </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:2608.23px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:2891.18px;white-space:nowrap">Adviser </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:3574.03px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:3779.24px;white-space:nowrap">good </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:4228.89px;white-space:nowrap">faith, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:4695.04px;white-space:nowrap">taking </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:5244.59px;white-space:nowrap">into </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:5605.36px;white-space:nowrap">consideration </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:6732.45px;white-space:nowrap">all </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:6982px;white-space:nowrap">available </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:7753.43px;white-space:nowrap">information </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:8747.31px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:9085.73px;white-space:nowrap">other </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:9546.31px;white-space:nowrap">factors </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7527.97px;left:10140.1px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:0px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:283.3px;white-space:nowrap">Adviser </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:966.5px;white-space:nowrap">deems </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:1527.44px;white-space:nowrap">pertinent, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:2338.28px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:2543.85px;white-space:nowrap">each </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:2960.16px;white-space:nowrap">case </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:3354.3px;white-space:nowrap">subject </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:3970.8px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:4176.37px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:4470.7px;white-space:nowrap">overall </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:5075.98px;white-space:nowrap">supervision </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:6048.14px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:6386.91px;white-space:nowrap">responsibility </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:7525.78px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:7742.38px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7767.97px;left:8036.72px;white-space:nowrap">Board.</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:0px;white-space:nowrap">In </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:220.12px;letter-spacing:0px;white-space:nowrap">calculating </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:1150.98px;letter-spacing:0px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:1448.84px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:2046.99px;white-space:nowrap">net </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:2344.84px;letter-spacing:0px;white-space:nowrap">asset </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:2787.13px;white-space:nowrap">value, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:3323.75px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:3610.57px;letter-spacing:-0.89px;white-space:nowrap">Adviser, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:4339.29px;white-space:nowrap">subject </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:4959.31px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:5168.39px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:5466.25px;white-space:nowrap">oversight </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:6264.1px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:6484.22px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:6782.08px;white-space:nowrap">Board, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:7374.37px;white-space:nowrap">uses </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:7772.32px;white-space:nowrap">various </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:8414.61px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8223.97px;left:9212.36px;white-space:nowrap">methodologies. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:0px;letter-spacing:-4.65px;white-space:nowrap">To </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:284.61px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:605.35px;white-space:nowrap">extent </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:1170.43px;white-space:nowrap">practicable, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:2173.98px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:2483.69px;white-space:nowrap">Adviser </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:3193.3px;white-space:nowrap">generally </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:4013.75px;white-space:nowrap">endeavors </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:4900.9px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:5132.87px;white-space:nowrap">maximize </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:5997.85px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:6318.59px;white-space:nowrap">use </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:6661.6px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:6904.61px;white-space:nowrap">observable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:7847.32px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:8412.7px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:8777.87px;white-space:nowrap">minimize </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:9609.65px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:9930.39px;white-space:nowrap">use </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8463.97px;left:10273.4px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:0px;white-space:nowrap">unobservable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:1143.26px;letter-spacing:0px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:1709.19px;white-space:nowrap">by </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:1986.14px;white-space:nowrap">requiring </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:2796.2px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:3173.06px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:3494.36px;white-space:nowrap">most </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:3960.28px;white-space:nowrap">observable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:4903.54px;letter-spacing:0px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:5469.46px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:5790.56px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:6023.08px;white-space:nowrap">be </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:6288.81px;white-space:nowrap">used </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:6732.37px;white-space:nowrap">when </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:7242.53px;white-space:nowrap">available. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:8087.65px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:8475.54px;white-space:nowrap">availability </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:9452.2px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8703.97px;left:9695.76px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:0px;white-space:nowrap">techniques </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:927.71px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:1288.92px;white-space:nowrap">observable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:2227.67px;letter-spacing:0px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:2789.07px;white-space:nowrap">can </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:3139.05px;white-space:nowrap">vary </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:3566.86px;white-space:nowrap">from </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:4028.06px;white-space:nowrap">investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:4978.14px;letter-spacing:0px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:5206.14px;white-space:nowrap">investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:6156.22px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:6517.43px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:6834.01px;text-rendering:optimizeLegibility;white-space:nowrap">affected </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:7537.89px;white-space:nowrap">by </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:7810.33px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:7971.54px;white-space:nowrap">wide </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:8432.74px;white-space:nowrap">variety </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:9060.46px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:9299.5px;white-space:nowrap">factors. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8943.97px;left:9962.46px;white-space:nowrap">When </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:0px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:784.66px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:958.47px;letter-spacing:0px;white-space:nowrap">based </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:1454.26px;white-space:nowrap">on </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:1694.68px;white-space:nowrap">models </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:2312.83px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:2519.85px;letter-spacing:0px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:3049.24px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:3389.56px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:3674.12px;white-space:nowrap">less </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:4014.54px;white-space:nowrap">observable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:4921.26px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:5128.28px;white-space:nowrap">unobservable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:6235.01px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:6431px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:6715.75px;white-space:nowrap">market, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:7361.44px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:7646.2px;white-space:nowrap">determination </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:8797.36px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:9004.38px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:9322.34px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9183.97px;left:9795.86px;white-space:nowrap">requires </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:0px;white-space:nowrap">more </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:463.05px;white-space:nowrap">judgment, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:1320.62px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:1661.5px;white-space:nowrap">may </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:2057.94px;white-space:nowrap">involve </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:2709.96px;white-space:nowrap">alternative </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:3606.01px;white-space:nowrap">methods </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:4335.85px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:4543.53px;white-space:nowrap">obtain </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:5095.54px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:5425.18px;white-space:nowrap">values </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:5988.23px;white-space:nowrap">where </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:6528.91px;white-space:nowrap">market </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:7136.29px;white-space:nowrap">prices </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:7665.94px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:7884.65px;white-space:nowrap">market-based </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:9014.01px;white-space:nowrap">valuations </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:9888.18px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9423.97px;left:10184.43px;white-space:nowrap">not </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:0px;white-space:nowrap">readily </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:606.92px;letter-spacing:0px;white-space:nowrap">available. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:1419.3px;white-space:nowrap">As </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:1693.21px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:1833.63px;white-space:nowrap">result, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:2379.6px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:2664.55px;white-space:nowrap">Adviser </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:3349.4px;white-space:nowrap">may </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:3745.38px;white-space:nowrap">exercise </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:4452.1px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:4592.51px;white-space:nowrap">higher </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:5155.09px;white-space:nowrap">degree </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:5739.64px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:5957.89px;white-space:nowrap">judgment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:6765px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:6972.21px;white-space:nowrap">determining </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:7990.26px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:8319.44px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:8804.19px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:9089.04px;white-space:nowrap">certain </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9663.97px;left:9684.73px;white-space:nowrap">securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9903.97px;left:0px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9903.97px;left:216.6px;white-space:nowrap">other </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9903.97px;left:677.54px;white-space:nowrap">assets.</div><div style="font-family:"Times New Roman", serif;font-size:200px;font-style:italic;font-weight:bold;position:absolute;top:10251.97px;left:0px;white-space:nowrap">Fair </div><div style="font-family:"Times New Roman", serif;font-size:200px;font-style:italic;font-weight:bold;position:absolute;top:10251.97px;left:416.8px;letter-spacing:-3.69px;white-space:nowrap">Value </div><div style="font-family:"Times New Roman", serif;font-size:200px;font-style:italic;font-weight:bold;position:absolute;top:10251.97px;left:933.59px;white-space:nowrap">Measurement</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:0px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:351.39px;letter-spacing:0px;white-space:nowrap">following </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:1169.58px;letter-spacing:0px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:1343.43px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:1472.65px;white-space:nowrap">summary </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:2257.44px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:2464.49px;letter-spacing:0px;white-space:nowrap">certain </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:3048.99px;white-space:nowrap">methods </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:3767.17px;white-space:nowrap">generally </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:4551.67px;white-space:nowrap">used </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:4958.72px;white-space:nowrap">currently </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:5721.05px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:5917.07px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:6390.62px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:7386.54px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:7593.6px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:7878.39px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:8330.07px;white-space:nowrap">under </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:8825.89px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:9110.68px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10599.97px;left:9695.76px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10839.97px;left:0px;white-space:nowrap">procedures:</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:0px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:364.98px;letter-spacing:0px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:830.26px;letter-spacing:0px;white-space:nowrap">applies </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:1450.81px;letter-spacing:-2.97px;white-space:nowrap">FASB </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:1979.27px;white-space:nowrap">ASC </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:2418.76px;letter-spacing:-2.33px;white-space:nowrap">Topic </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:2925.35px;white-space:nowrap">820, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:3329.39px;white-space:nowrap">Fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:3701.99px;letter-spacing:-3.69px;white-space:nowrap">Value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:4211.41px;white-space:nowrap">Measurement, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:5403.93px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:5624.57px;white-space:nowrap">amended, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:6450.49px;white-space:nowrap">which </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:6993.31px;white-space:nowrap">establishes </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:7913.86px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:8056.67px;white-space:nowrap">framework </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:8988.06px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:9275.31px;white-space:nowrap">measuring </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11295.97px;left:10162.46px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:0px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:485.16px;letter-spacing:0px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:692.79px;letter-spacing:0px;white-space:nowrap">accordance </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:1644.07px;white-space:nowrap">with </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:2051.69px;white-space:nowrap">U.S. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:2459.41px;letter-spacing:-1.48px;white-space:nowrap">GAAP </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:3048.58px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:3389.41px;white-space:nowrap">required </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:4107.78px;white-space:nowrap">disclosures </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:5048.61px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:5267.27px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:5596.86px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:6082.03px;white-space:nowrap">measurement. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:7250.3px;white-space:nowrap">U.S. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:7658.02px;letter-spacing:-1.48px;white-space:nowrap">GAAP </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:8247.19px;text-rendering:optimizeLegibility;white-space:nowrap">defines </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:8865.85px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:9162.24px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:9491.84px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:9977px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11535.97px;left:10195.66px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:0px;white-space:nowrap">price </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:450.17px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:800.54px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:1095.34px;letter-spacing:0px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:1557.03px;white-space:nowrap">would </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:2107.5px;letter-spacing:0px;white-space:nowrap">receive </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:2735.21px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:2941.24px;white-space:nowrap">sell </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:3269.44px;white-space:nowrap">an </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:3508.67px;white-space:nowrap">asset </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:3947.9px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:4164.97px;white-space:nowrap">pay </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:4504.2px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:4710.24px;letter-spacing:0px;white-space:nowrap">transfer </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:5371.44px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:5510.68px;white-space:nowrap">liability </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:6183.31px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:6389.34px;white-space:nowrap">an </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:6628.57px;white-space:nowrap">orderly </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:7256.58px;white-space:nowrap">transaction </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:8184.48px;white-space:nowrap">between </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:8901.25px;white-space:nowrap">market </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11775.97px;left:9506.99px;white-space:nowrap">participants </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12015.97px;left:0px;white-space:nowrap">at </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12015.97px;left:194.34px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12015.97px;left:488.67px;white-space:nowrap">measurement </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12015.97px;left:1604.88px;white-space:nowrap">date.</div></div>
</div>
</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:1354.50px;width:1039.50px;transform-origin:top left;transform:scale(1.75,1.75)"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
<div style="background-image:url(data:image/png;base64,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);background-repeat:no-repeat;background-size:cover;height:42.56px;left:0px;position:absolute;top:0px;transform:translate(36.000px,32.423px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:522.00px">
<div style="width:10440px;height:715.95px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,4.78px) rotate(0deg) scale(0.05)">
<div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:32.32px;letter-spacing:5.86px;white-space:nowrap">Fundrise </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:1160.93px;letter-spacing:5.52px;white-space:nowrap">Growth </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:2194.03px;letter-spacing:4.92px;white-space:nowrap">Tech </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:2838.96px;letter-spacing:4.1px;white-space:nowrap">Fund, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:3522.55px;letter-spacing:5.86px;white-space:nowrap">LLC</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:32.32px;letter-spacing:5.27px;white-space:nowrap">Notes </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:758.29px;letter-spacing:2.31px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:1085.34px;letter-spacing:5.86px;white-space:nowrap">Schedule </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:2236.03px;letter-spacing:3.52px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:2555.75px;letter-spacing:6.15px;white-space:nowrap">Investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:207.97px;left:4068.45px;white-space:nowrap">(Unaudited)</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:447.97px;left:32.32px;letter-spacing:4.92px;white-space:nowrap">June </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:447.97px;left:595.79px;white-space:nowrap">30, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:447.97px;left:895.79px;white-space:nowrap">2023</div></div>
</div>
<div style="height:15.46px;left:0px;position:absolute;top:0px;transform:translate(36.000px,722.745px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:522.00px">
<div style="width:10440px;height:172.8px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,4.46px) rotate(0deg) scale(0.05)">
<div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:5170px;white-space:nowrap">3</div></div>
</div>
<div style="height:637.62px;left:0px;position:absolute;top:0px;transform:translate(36.000px,81.938px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:522.00px">
<div style="width:10440px;height:12643.2px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,4.46px) rotate(0deg) scale(0.05)">
<div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:0px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:378.69px;letter-spacing:0px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:857.67px;letter-spacing:0px;white-space:nowrap">determines </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:1802.87px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:2114.95px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:2460.24px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:2961.1px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:3195.46px;white-space:nowrap">certain </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:3807.25px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:4830.47px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:5053.79px;white-space:nowrap">accordance </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:6020.76px;white-space:nowrap">with </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:6444.08px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:6756.17px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:7101.46px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:7602.31px;white-space:nowrap">hierarchy </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:8425.14px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:8792.8px;white-space:nowrap">requires </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:9504.69px;white-space:nowrap">an </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:9761.21px;white-space:nowrap">entity </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:10284.43px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:0px;white-space:nowrap">maximize </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:842.31px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:1140.39px;letter-spacing:0px;white-space:nowrap">use </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:1460.73px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:1681.07px;white-space:nowrap">observable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:2601.11px;white-space:nowrap">inputs. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:3190.2px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:3554.88px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:3886.16px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:4373px;white-space:nowrap">hierarchy </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:5181.82px;white-space:nowrap">includes </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:5902.06px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:6200.13px;white-space:nowrap">following </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:7031.61px;white-space:nowrap">three </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:7485.05px;white-space:nowrap">levels </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:8005.29px;white-space:nowrap">based </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:8514.4px;white-space:nowrap">on </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:8768.14px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:9066.21px;white-space:nowrap">objectivity </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:9975.32px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:10195.66px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:0px;white-space:nowrap">inputs, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:588.96px;white-space:nowrap">which </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:1127.73px;white-space:nowrap">were </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:1566.31px;white-space:nowrap">used </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:1982.91px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:2266.11px;white-space:nowrap">categorizing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:3304.49px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:3598.83px;white-space:nowrap">assets </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:4115.43px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:4332.03px;white-space:nowrap">liabilities </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:5126.37px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:5409.57px;white-space:nowrap">which </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:5948.34px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:6275.88px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:6758.98px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:6942.38px;white-space:nowrap">being </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:7436.72px;white-space:nowrap">measured </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:8253.03px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:451.19px;left:8591.8px;white-space:nowrap">reported:</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:799.19px;left:720px;white-space:nowrap">Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:799.19px;left:1225.27px;white-space:nowrap">1 </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:799.19px;left:1375.27px;white-space:nowrap">– </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:799.19px;left:1525.27px;white-space:nowrap">Quoted </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:799.19px;left:2164.04px;white-space:nowrap">market </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:799.19px;left:2769.32px;white-space:nowrap">prices </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:799.19px;left:3296.86px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:799.19px;left:3502.42px;white-space:nowrap">active </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:799.19px;left:4029.86px;white-space:nowrap">markets </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:799.19px;left:4712.97px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:799.19px;left:4996.17px;white-space:nowrap">identical </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:799.19px;left:5734.75px;white-space:nowrap">assets </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:799.19px;left:6251.35px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:799.19px;left:6467.95px;white-space:nowrap">liabilities.</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:720px;white-space:nowrap">Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:1242.57px;white-space:nowrap">2 </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:1409.87px;white-space:nowrap">– </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:1577.17px;text-rendering:optimizeLegibility;letter-spacing:0px;white-space:nowrap">Significant </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:2511.17px;white-space:nowrap">other </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:2989.41px;white-space:nowrap">observable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:3923.02px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:4479.29px;white-space:nowrap">(e.g., </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:4951.96px;white-space:nowrap">quoted </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:5563.59px;white-space:nowrap">prices </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:6108.43px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:6408.94px;white-space:nowrap">similar </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:7031.71px;white-space:nowrap">items </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:7532.31px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:7755.17px;white-space:nowrap">active </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:8299.92px;white-space:nowrap">markets, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:9050.32px;white-space:nowrap">quoted </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:9661.96px;white-space:nowrap">prices </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1279.19px;left:10206.8px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:720px;white-space:nowrap">identical </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:1456.67px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:1671.37px;white-space:nowrap">similar </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:2274.94px;white-space:nowrap">items </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:2756.34px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:2960.01px;white-space:nowrap">markets </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:3641.21px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:3989.22px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:4281.46px;white-space:nowrap">not </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:4585.12px;white-space:nowrap">active, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:5160.66px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:5697.73px;letter-spacing:0px;white-space:nowrap">other </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:6156.77px;white-space:nowrap">than </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:6549.2px;white-space:nowrap">quoted </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:7141.64px;white-space:nowrap">prices </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:7667.28px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:8015.28px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:8307.52px;white-space:nowrap">observable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:9221.93px;white-space:nowrap">such </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:9636.63px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1519.19px;left:9851.33px;white-space:nowrap">interest </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1759.19px;left:720px;white-space:nowrap">rate </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1759.19px;left:1069.71px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1759.19px;left:1408.48px;white-space:nowrap">yield </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1759.19px;left:1858.38px;white-space:nowrap">curves, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1759.19px;left:2480.35px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1759.19px;left:2819.12px;white-space:nowrap">market-corroborated </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:1759.19px;left:4512.68px;white-space:nowrap">inputs).</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:720px;white-space:nowrap">Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:1238.27px;white-space:nowrap">3 </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:1401.26px;white-space:nowrap">– </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:1560.64px;letter-spacing:-2.22px;white-space:nowrap">Valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:2390.14px;white-space:nowrap">generated </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:3230.37px;letter-spacing:0px;white-space:nowrap">from </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:3682.14px;white-space:nowrap">model-based </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:4767px;white-space:nowrap">techniques </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:5685.27px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:6048.17px;white-space:nowrap">use </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:6377.76px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:6929.72px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:7292.61px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:7599.75px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:8496.04px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:8847.8px;white-space:nowrap">unobservable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:9977.1px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2239.19px;left:10195.66px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:720px;white-space:nowrap">market. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:1370.16px;white-space:nowrap">These </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:1896.21px;white-space:nowrap">unobservable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:3011.02px;white-space:nowrap">assumptions </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:4048.49px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:4596.7px;white-space:nowrap">estimates </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:5389.44px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:5604.54px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:6142.01px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:6490.42px;white-space:nowrap">market </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:7094.19px;white-space:nowrap">participants </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:8075.71px;white-space:nowrap">would </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:8624.21px;white-space:nowrap">use </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:8939.31px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:9143.38px;white-space:nowrap">pricing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:9758.39px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2479.19px;left:10051.23px;white-space:nowrap">asset </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:720px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:955.84px;letter-spacing:-1.18px;white-space:nowrap">liability. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:1680.64px;letter-spacing:-2.22px;white-space:nowrap">Valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:2516.38px;white-space:nowrap">techniques </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:3440.89px;white-space:nowrap">may </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:3854.47px;white-space:nowrap">include </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:4512.37px;white-space:nowrap">use </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:4848.21px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:5084.05px;white-space:nowrap">discounted </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:6019.79px;white-space:nowrap">cash </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:6444.4px;text-rendering:optimizeLegibility;white-space:nowrap">flow </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:6869.3px;white-space:nowrap">methodologies </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:8116.18px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:8352.01px;white-space:nowrap">similar </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:8976.72px;white-space:nowrap">techniques, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2719.19px;left:9951.23px;white-space:nowrap">which </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:720px;white-space:nowrap">incorporate </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:1688.42px;letter-spacing:-0.85px;white-space:nowrap">management’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:2901.38px;white-space:nowrap">own </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:3303.59px;white-space:nowrap">estimates </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:4105.61px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:4329.99px;white-space:nowrap">assumptions </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:5376.73px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:5734.41px;letter-spacing:0px;white-space:nowrap">market </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:6347.46px;white-space:nowrap">participants </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:7338.25px;white-space:nowrap">would </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:7896.03px;white-space:nowrap">use </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:8220.41px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:8433.75px;white-space:nowrap">pricing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:9058.04px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:9360.15px;white-space:nowrap">instrument </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2959.19px;left:10273.4px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3199.19px;left:720px;white-space:nowrap">other </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3199.19px;left:1180.94px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3199.19px;left:1975.18px;white-space:nowrap">assumptions </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3199.19px;left:3014.14px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3199.19px;left:3364.04px;white-space:nowrap">require </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3199.19px;left:3980.35px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3199.19px;left:4863.65px;white-space:nowrap">management </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3199.19px;left:5935.43px;white-space:nowrap">judgment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3199.19px;left:6740.9px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3199.19px;left:6957.5px;white-space:nowrap">estimation.</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:0px;white-space:nowrap">Investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:1035.23px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:1259.53px;letter-spacing:0px;white-space:nowrap">registered </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:2116.73px;letter-spacing:0px;white-space:nowrap">investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:3063.09px;white-space:nowrap">companies, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:4037.09px;white-space:nowrap">including </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:4861.29px;letter-spacing:0px;white-space:nowrap">money </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:5474.35px;white-space:nowrap">market </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:6098.35px;white-space:nowrap">funds, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:6661.52px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:6974.38px;white-space:nowrap">valued </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:7576.22px;white-space:nowrap">at </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:7789.28px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:8102.34px;letter-spacing:-7.35px;white-space:nowrap">NAV </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:8574.98px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:8810.31px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:9045.63px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:9358.7px;white-space:nowrap">close </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:9838.36px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3547.19px;left:10073.69px;white-space:nowrap">each </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:0px;white-space:nowrap">business </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:727.83px;letter-spacing:-2.6px;white-space:nowrap">day. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:1100px;letter-spacing:-4.65px;white-space:nowrap">To </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:1358.2px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:1652.54px;white-space:nowrap">extent </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:2191.21px;white-space:nowrap">these </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:2652.15px;white-space:nowrap">securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:3457.42px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:3751.56px;white-space:nowrap">actively </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:4434.57px;white-space:nowrap">traded, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:5034.28px;white-space:nowrap">they </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:5428.61px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:5722.75px;white-space:nowrap">categorized </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:6694.34px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:6899.9px;white-space:nowrap">Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:7405.18px;white-space:nowrap">1 </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:7555.18px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:7771.78px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:8066.11px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:8393.65px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3787.19px;left:8876.76px;letter-spacing:-1.3px;white-space:nowrap">hierarchy.</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:0px;white-space:nowrap">Fixed </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:529.05px;letter-spacing:0px;white-space:nowrap">income </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:1191.21px;letter-spacing:0px;white-space:nowrap">securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:2019.96px;white-space:nowrap">may </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:2437.78px;letter-spacing:0px;white-space:nowrap">be </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:2700.04px;white-space:nowrap">valued </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:3306.63px;white-space:nowrap">by </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:3580.11px;white-space:nowrap">an </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:3842.37px;white-space:nowrap">outside </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:4493.58px;white-space:nowrap">pricing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:5133.57px;white-space:nowrap">service </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:5773.36px;white-space:nowrap">overseen </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:6557.59px;white-space:nowrap">by </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:6831.08px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:7145.28px;letter-spacing:-2.22px;white-space:nowrap">Valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:7985.27px;white-space:nowrap">Designee. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:8849.28px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:9233.7px;white-space:nowrap">pricing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4243.19px;left:9873.69px;white-space:nowrap">service </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:0px;white-space:nowrap">may </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:397.31px;letter-spacing:0px;white-space:nowrap">employ </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:1050.18px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:1191.92px;letter-spacing:0px;white-space:nowrap">pricing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:1811.4px;white-space:nowrap">model </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:2364.27px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:2717.15px;white-space:nowrap">takes </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:3181.06px;white-space:nowrap">into </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:3545.16px;white-space:nowrap">account, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:4270.01px;white-space:nowrap">among </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:4867.31px;white-space:nowrap">other </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:5331.22px;white-space:nowrap">things, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:5923.16px;white-space:nowrap">bids, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:6359.53px;white-space:nowrap">yield </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:6812.4px;white-space:nowrap">spreads </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:7465.18px;white-space:nowrap">and/or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:8029.09px;white-space:nowrap">other </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:8493px;white-space:nowrap">market </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:9101.24px;white-space:nowrap">data </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:9487.32px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4483.19px;left:9829.06px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:0px;white-space:nowrap">security </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:681.31px;letter-spacing:0px;white-space:nowrap">characteristics. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:1923.27px;white-space:nowrap">In </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:2138.08px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:2430.63px;white-space:nowrap">event </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:2911.94px;white-space:nowrap">prices </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:3437.69px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:3652.5px;white-space:nowrap">quotations </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:4534.01px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:4826.36px;white-space:nowrap">not </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:5130.14px;white-space:nowrap">readily </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:5733.62px;white-space:nowrap">available </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:6503.61px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:6718.42px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:7066.53px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:7359.08px;white-space:nowrap">application </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:8295.86px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:8510.67px;white-space:nowrap">these </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:8969.82px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4723.19px;left:9762.27px;white-space:nowrap">methods </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:0px;white-space:nowrap">results </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:580.69px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:794.78px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:942.07px;white-space:nowrap">price </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:1400.3px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:1692.03px;white-space:nowrap">an </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:1939.32px;white-space:nowrap">investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:2875.48px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:3233.91px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:3425.83px;white-space:nowrap">deemed </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:4106.23px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:4320.31px;white-space:nowrap">be </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:4567.61px;white-space:nowrap">not </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:4881.7px;white-space:nowrap">representative </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:6061.8px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:6286.93px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:6589.79px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:6925.85px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:7417.48px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:7642.6px;white-space:nowrap">such </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:8067.72px;white-space:nowrap">investment, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:9053.88px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:9389.95px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:9881.57px;white-space:nowrap">will </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:4963.19px;left:10251.23px;white-space:nowrap">be </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:0px;white-space:nowrap">determined </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:943.02px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:1141.99px;letter-spacing:0px;white-space:nowrap">good </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:1585.4px;white-space:nowrap">faith </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:1995.31px;white-space:nowrap">by </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:2238.72px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:2522.85px;letter-spacing:-2.22px;white-space:nowrap">Valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:3332.77px;white-space:nowrap">Designee, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:4170.32px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:4369.29px;letter-spacing:0px;white-space:nowrap">accordance </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:5311.92px;white-space:nowrap">with </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:5710.89px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:5998.64px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:6786.29px;white-space:nowrap">policy </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:7329.6px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:7661.78px;white-space:nowrap">procedures </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:8582.53px;white-space:nowrap">approved </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:9370.08px;white-space:nowrap">by </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:9613.49px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5203.19px;left:9901.23px;white-space:nowrap">Board. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:0px;letter-spacing:-4.65px;white-space:nowrap">To </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:258.2px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:552.54px;white-space:nowrap">extent </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:1091.21px;white-space:nowrap">these </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:1552.15px;white-space:nowrap">securities </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:2357.42px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:2651.56px;white-space:nowrap">actively </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:3334.57px;white-space:nowrap">traded, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:3934.28px;white-space:nowrap">they </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:4328.61px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:4622.75px;white-space:nowrap">categorized </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:5594.34px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:5799.9px;white-space:nowrap">Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:6305.18px;white-space:nowrap">2 </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:6455.18px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:6671.78px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:6966.11px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:7293.65px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5443.19px;left:7776.76px;letter-spacing:-1.3px;white-space:nowrap">hierarchy.</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:0px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:362.73px;letter-spacing:0px;white-space:nowrap">majority </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:1092.15px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:1310.54px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:1606.67px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:2203.08px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:3210.34px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:3506.27px;white-space:nowrap">expected </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:4268.7px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:4476.06px;white-space:nowrap">have </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:4905.39px;white-space:nowrap">no </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:5157.17px;white-space:nowrap">readily </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:5764.24px;white-space:nowrap">available </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:6537.8px;white-space:nowrap">market </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:7144.86px;white-space:nowrap">quotations </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:8029.95px;white-space:nowrap">and, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:8420.51px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:8638.9px;white-space:nowrap">such, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:9107.29px;white-space:nowrap">will </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:9470.21px;white-space:nowrap">be </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:9710.77px;white-space:nowrap">valued </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5899.19px;left:10295.66px;white-space:nowrap">at </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:0px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:330.89px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:817.35px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:1026.27px;letter-spacing:0px;white-space:nowrap">good </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:1479.63px;white-space:nowrap">faith. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:1945.87px;white-space:nowrap">There </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:2465.53px;letter-spacing:0px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:2652.29px;white-space:nowrap">no </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:2905.64px;white-space:nowrap">single </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:3436.73px;white-space:nowrap">standard </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:4167.62px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:4454.18px;white-space:nowrap">determining </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:5473.94px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:5771.63px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:6102.52px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:6588.98px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:6808.94px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:6951.06px;letter-spacing:-1.3px;white-space:nowrap">security. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:7674.53px;letter-spacing:-1px;white-space:nowrap">Rather, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:8302.98px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:8633.88px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:9120.34px;white-space:nowrap">calculations </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6139.19px;left:10128.87px;white-space:nowrap">will </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:0px;white-space:nowrap">involve </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:647.54px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:1528.47px;white-space:nowrap">professional </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:2553.64px;letter-spacing:0px;white-space:nowrap">judgment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:3356.75px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:3559.95px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:3851.92px;white-space:nowrap">application </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:4788.13px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:5002.36px;white-space:nowrap">both </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:5405.56px;white-space:nowrap">observable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:6319.51px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:6655.91px;white-space:nowrap">unobservable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:7769.85px;white-space:nowrap">attributes. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:8611.72px;white-space:nowrap">For </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:8937.19px;white-space:nowrap">mid-to-late </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6379.19px;left:9873.4px;white-space:nowrap">growth </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:0px;white-space:nowrap">Portfolio </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:754.8px;white-space:nowrap">Companies, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:1748.37px;white-space:nowrap">traditional </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:2614.01px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:3401.92px;white-space:nowrap">methods </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:4123.32px;white-space:nowrap">(e.g., </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:4572.36px;white-space:nowrap">discounted </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:5482.53px;white-space:nowrap">cash </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:5881.56px;text-rendering:optimizeLegibility;white-space:nowrap">flow) </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:6347.5px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:6635.31px;white-space:nowrap">often </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:7089.91px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:7222.35px;white-space:nowrap">less </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:7566.01px;white-space:nowrap">reliable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:8209.29px;white-space:nowrap">tool </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:8564.09px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:8840.96px;white-space:nowrap">valuing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6619.19px;left:9484.53px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:0px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:217.22px;letter-spacing:0px;white-space:nowrap">accordance </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:1178.08px;letter-spacing:0px;white-space:nowrap">with </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:1584.27px;white-space:nowrap">ASC </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:2034.98px;white-space:nowrap">820. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:2435.59px;letter-spacing:0px;white-space:nowrap">As </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:2719.51px;white-space:nowrap">such, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:3197.76px;white-space:nowrap">until </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:3626.11px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:3932.1px;white-space:nowrap">Portfolio </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:4704.88px;letter-spacing:0px;white-space:nowrap">Companies </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:5666.43px;white-space:nowrap">grow </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:6139.11px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:6356.33px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:6506.75px;white-space:nowrap">point </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:6979.53px;white-space:nowrap">where </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:7529.76px;white-space:nowrap">traditional </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:8413.38px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:9219.27px;white-space:nowrap">methods </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:6859.19px;left:9958.65px;letter-spacing:-1.86px;white-space:nowrap">apply, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:0px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:291.59px;letter-spacing:0px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:750.07px;white-space:nowrap">will </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:1108.45px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:1588.81px;white-space:nowrap">its </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:1825.03px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:2827.75px;white-space:nowrap">based </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:3330.37px;white-space:nowrap">on </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:3577.62px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:3869.21px;white-space:nowrap">Portfolio </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:4627.6px;letter-spacing:-1.1px;white-space:nowrap">Company’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:5585.98px;white-space:nowrap">progression </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:6566.44px;white-space:nowrap">through </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:7235.86px;white-space:nowrap">capital </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:7816.12px;white-space:nowrap">raising </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:8407.7px;white-space:nowrap">cycles. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:9004.66px;white-space:nowrap">Late-stage </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7099.19px;left:9884.73px;white-space:nowrap">private </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:0px;white-space:nowrap">companies </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:923.92px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:1159.16px;letter-spacing:0px;white-space:nowrap">“pre-IPO </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:1960.81px;letter-spacing:0px;white-space:nowrap">companies” </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:2973.5px;white-space:nowrap">traditionally </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:4019.68px;white-space:nowrap">raise </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:4465.86px;white-space:nowrap">capital </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:5067.51px;letter-spacing:0px;white-space:nowrap">from </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:5524.93px;white-space:nowrap">investors </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:6315.74px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:6539.95px;letter-spacing:-0.36px;white-space:nowrap">organized </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:7393.45px;white-space:nowrap">funding </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:8084.27px;white-space:nowrap">rounds. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:8747.34px;white-space:nowrap">During </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:9382.59px;white-space:nowrap">such </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7339.19px;left:9817.83px;white-space:nowrap">funding </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:0px;white-space:nowrap">rounds, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:641.4px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:777.14px;letter-spacing:0px;white-space:nowrap">pre-IPO </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:1468.35px;white-space:nowrap">company </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:2248.43px;white-space:nowrap">will </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:2606.53px;white-space:nowrap">seek </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:3008.88px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:3144.62px;white-space:nowrap">lead </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:3524.69px;white-space:nowrap">investor </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:4216px;white-space:nowrap">who </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:4607.4px;white-space:nowrap">will, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:5015.51px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:5218.05px;white-space:nowrap">their </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:5631.52px;white-space:nowrap">best </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:6000.66px;text-rendering:optimizeLegibility;white-space:nowrap">effort, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:6529.37px;text-rendering:optimizeLegibility;white-space:nowrap">define </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:7065.11px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:7200.85px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:7992.06px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:8205.63px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:8496.94px;letter-spacing:-1.44px;white-space:nowrap">company. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:9310.41px;white-space:nowrap">Therefore, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7579.19px;left:10195.66px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:0px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:798.16px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:1018.69px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:1316.96px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:1915.51px;letter-spacing:0px;white-space:nowrap">Portfolio </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:2680.57px;white-space:nowrap">Companies </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:3634.4px;white-space:nowrap">may </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:4032.66px;white-space:nowrap">be </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:4275.36px;white-space:nowrap">adjusted </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:4995.79px;white-space:nowrap">when </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:5482.92px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:5625.62px;white-space:nowrap">new </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:6012.74px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:6810.91px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:6998.23px;white-space:nowrap">set </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:7274.33px;white-space:nowrap">by </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:7528.26px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:7826.52px;white-space:nowrap">lead </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:8213.55px;white-space:nowrap">investor </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:8911.81px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:9121.31px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:9419.57px;white-space:nowrap">next </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:7819.19px;left:9817.83px;white-space:nowrap">funding </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:0px;white-space:nowrap">round. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:555.17px;letter-spacing:0px;white-space:nowrap">As </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:827.04px;white-space:nowrap">such, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:1293.24px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:1587.18px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:2048.02px;white-space:nowrap">also </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:2419.79px;white-space:nowrap">intends </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:3047.12px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:3252.29px;white-space:nowrap">adjust </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:3779.63px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:4073.57px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:4867.41px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:5083.62px;white-space:nowrap">its </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:5322.19px;white-space:nowrap">Portfolio </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:6082.92px;white-space:nowrap">Companies </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:7032.43px;white-space:nowrap">with </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:7437.6px;white-space:nowrap">each </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:7853.51px;white-space:nowrap">new </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:8236.31px;white-space:nowrap">funding </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:8908.09px;white-space:nowrap">round, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:9474.29px;white-space:nowrap">which </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:10012.66px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8059.19px;left:10195.66px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:0px;white-space:nowrap">generally </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:788.82px;white-space:nowrap">accepted </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:1533.02px;white-space:nowrap">methodology </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:2633.27px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:2911.25px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:3200.37px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:3989.39px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:4200.77px;white-space:nowrap">pre-IPO </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:4889.79px;white-space:nowrap">companies </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:5789.85px;white-space:nowrap">like </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:6134.53px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:6423.65px;white-space:nowrap">ones </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:6835.03px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:7124.15px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:7580.16px;white-space:nowrap">intends </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:8202.67px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:8403.02px;white-space:nowrap">invest </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:8925.54px;white-space:nowrap">in. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:9175.88px;letter-spacing:-0.89px;white-space:nowrap">However, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8299.19px;left:9995.66px;white-space:nowrap">while </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:0px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:302.81px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:1105.52px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:1330.6px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:1555.67px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:1858.48px;white-space:nowrap">latest </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:2339.03px;white-space:nowrap">funding </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:3019.67px;white-space:nowrap">round </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:3544.75px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:3736.62px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:3883.86px;white-space:nowrap">prominent </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:4764.41px;white-space:nowrap">factor </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:5289.19px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:5503.23px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:5806.04px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:6409.14px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:7211.86px;white-space:nowrap">process, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:7920.13px;white-space:nowrap">it </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:8089.74px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:8281.61px;white-space:nowrap">not </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:8595.65px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:8898.46px;white-space:nowrap">only </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:9312.5px;white-space:nowrap">factor </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:9837.29px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8539.19px;left:10195.66px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8779.19px;left:0px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8779.19px;left:461.23px;white-space:nowrap">will </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8779.19px;left:822.36px;white-space:nowrap">consider </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8779.19px;left:1549.9px;white-space:nowrap">when </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8779.19px;left:2033.11px;white-space:nowrap">valuing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8779.19px;left:2683.01px;white-space:nowrap">its </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8779.19px;left:2921.97px;white-space:nowrap">portfolio </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:8779.19px;left:3671.88px;white-space:nowrap">investments.</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:0px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:383.95px;letter-spacing:0px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:868.19px;white-space:nowrap">may </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:1285.53px;white-space:nowrap">establish </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:2058.44px;letter-spacing:0px;white-space:nowrap">certain </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:2675.49px;white-space:nowrap">thresholds </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:3570.67px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:3810.28px;white-space:nowrap">triggers </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:4494.23px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:4867.14px;white-space:nowrap">intend </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:5440.05px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:5668.62px;white-space:nowrap">capture </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:6330.11px;white-space:nowrap">fundamental </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:7402.73px;white-space:nowrap">changes </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:8119.88px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:8348.45px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:8665.8px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:9171.91px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:9411.52px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9235.19px;left:9728.87px;white-space:nowrap">Portfolio </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:0px;white-space:nowrap">Company </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:823.39px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:1168.95px;letter-spacing:0px;white-space:nowrap">would </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:1714.61px;text-rendering:optimizeLegibility;white-space:nowrap">affect </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:2202.94px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:2492.94px;letter-spacing:0px;white-space:nowrap">anticipated </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:3415.94px;white-space:nowrap">return </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:3939.13px;white-space:nowrap">on </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:4184.79px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:4474.79px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:5065.07px;letter-spacing:0px;white-space:nowrap">investment. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:6038.37px;white-space:nowrap">Examples </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:6872.7px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:7084.95px;white-space:nowrap">certain </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:7674.66px;white-space:nowrap">thresholds </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:8542.48px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:8754.74px;white-space:nowrap">triggers </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:9411.33px;white-space:nowrap">may </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9475.19px;left:9801.33px;white-space:nowrap">include, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:0px;white-space:nowrap">an </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:228.08px;white-space:nowrap">unexpected </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:1178.03px;white-space:nowrap">business </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:1895.18px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:2101.09px;white-space:nowrap">technology </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:3029.07px;white-space:nowrap">breakthrough, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:4184.69px;white-space:nowrap">faster </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:4668.14px;white-space:nowrap">than </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:5051.79px;white-space:nowrap">anticipated </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:5968.44px;white-space:nowrap">revenue </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:6640.66px;white-space:nowrap">growth, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:7296.57px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:7424.65px;white-space:nowrap">fundamental </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:8463.57px;white-space:nowrap">failure </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:9024.76px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:9230.67px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9715.19px;left:9514.32px;letter-spacing:-1.08px;white-space:nowrap">technology, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:0px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:282.91px;white-space:nowrap">loss </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:632.72px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:837.9px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:965.25px;white-space:nowrap">key </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:1292.59px;letter-spacing:-0.8px;white-space:nowrap">customer, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:2106.27px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:2311.44px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:2594.36px;white-space:nowrap">success </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:3232.74px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:3437.92px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:3565.26px;white-space:nowrap">competitor </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:4470.25px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:4664.39px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:4947.3px;white-space:nowrap">same </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:5396.82px;letter-spacing:-1.3px;white-space:nowrap">industry. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:6116.94px;letter-spacing:-0.93px;white-space:nowrap">Additionally, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:7203.56px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:7486.47px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:7936.28px;white-space:nowrap">may </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:8319.19px;white-space:nowrap">consider </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:9035.31px;white-space:nowrap">several </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:9955.19px;left:9640.2px;white-space:nowrap">additional </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:0px;white-space:nowrap">factors </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:586.67px;white-space:nowrap">(if </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:817.97px;white-space:nowrap">present), </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:1554.64px;white-space:nowrap">including </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:2352.64px;white-space:nowrap">but </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:2650.73px;white-space:nowrap">not </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:2948.83px;white-space:nowrap">limited </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:3557.96px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:3756.06px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:4042.92px;white-space:nowrap">implied </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:4696.49px;letter-spacing:0px;white-space:nowrap">valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:5483.26px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:5692.39px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:5979.25px;white-space:nowrap">asset </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:6410.55px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:6619.68px;text-rendering:optimizeLegibility;white-space:nowrap">reflected </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:7350.69px;white-space:nowrap">by </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:7593.22px;white-space:nowrap">stock </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:8057.92px;white-space:nowrap">purchase </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:8811.19px;white-space:nowrap">contracts </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:9575.6px;letter-spacing:0px;white-space:nowrap">reported </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10195.19px;left:10284.43px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:0px;white-space:nowrap">private </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:606.2px;letter-spacing:0px;white-space:nowrap">markets, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:1340.24px;white-space:nowrap">fundamental </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:2390.77px;white-space:nowrap">analytical </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:3219.05px;white-space:nowrap">data </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:3603.08px;white-space:nowrap">relating </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:4264.85px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:4471.34px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:4766.61px;letter-spacing:0px;white-space:nowrap">investment </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:5695.17px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:5901.67px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:6196.93px;letter-spacing:-1.3px;white-space:nowrap">security, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:6917.97px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:7213.24px;white-space:nowrap">nature </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:7763.87px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:8103.57px;white-space:nowrap">duration </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:8821px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:9038.53px;white-space:nowrap">any </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:9378.23px;white-space:nowrap">restriction </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10435.19px;left:10240px;white-space:nowrap">on </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:0px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:286.57px;white-space:nowrap">disposition </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:1206.73px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:1415.57px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:1702.13px;letter-spacing:-1.3px;white-space:nowrap">security, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:2414.48px;letter-spacing:0px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:2701.05px;white-space:nowrap">cost </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:3065.45px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:3274.29px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:3560.86px;white-space:nowrap">security </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:4236.2px;white-space:nowrap">at </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:4422.76px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:4709.33px;white-space:nowrap">date </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:5084.67px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:5293.51px;white-space:nowrap">purchase, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:6096.48px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:6305.31px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:6591.88px;white-space:nowrap">liquidity </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:7311.95px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:7520.78px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:7807.35px;white-space:nowrap">market </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:8404.86px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:8680.29px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:8966.86px;letter-spacing:-1.3px;white-space:nowrap">security. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:9675.6px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10675.19px;left:10028.77px;white-space:nowrap">Fund </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:0px;white-space:nowrap">may </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:395.61px;white-space:nowrap">also </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:769.05px;white-space:nowrap">consider </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:1497.86px;white-space:nowrap">periodic </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:2204.41px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:2944.35px;white-space:nowrap">statements </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:3839.87px;white-space:nowrap">(audited </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:4546.41px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:4886.46px;white-space:nowrap">unaudited) </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:5793px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:6010.88px;white-space:nowrap">other </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:6473.09px;white-space:nowrap">information </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:7468.6px;white-space:nowrap">provided </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:8230.81px;white-space:nowrap">by </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:8482.08px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:8777.69px;white-space:nowrap">Portfolio </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:10915.19px;left:9540.1px;white-space:nowrap">Companies </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11155.19px;left:0px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11155.19px;left:205.57px;white-space:nowrap">investors </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11155.19px;left:977.73px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11155.19px;left:1194.34px;white-space:nowrap">prospective </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11155.19px;left:2166.21px;white-space:nowrap">investors, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11155.19px;left:2988.38px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11155.19px;left:3193.95px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11155.19px;left:3488.28px;white-space:nowrap">extent </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11155.19px;left:4026.95px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11155.19px;left:4376.86px;white-space:nowrap">it </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11155.19px;left:4537.99px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11155.19px;left:4721.39px;white-space:nowrap">available.</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:0px;white-space:nowrap">Due </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:373.33px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:569.03px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:853.5px;white-space:nowrap">inherent </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:1548.9px;white-space:nowrap">uncertainty </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:2488.64px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:2695.37px;white-space:nowrap">determining </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:3701.91px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:3986.38px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:4304.05px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:4777.28px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:4984.01px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:5979.61px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:6319.65px;white-space:nowrap">do </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:6559.78px;white-space:nowrap">not </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:6855.47px;white-space:nowrap">have </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:7273.14px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:7402.04px;white-space:nowrap">readily </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:7997.45px;white-space:nowrap">available </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:8759.35px;white-space:nowrap">market </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:9354.76px;white-space:nowrap">value, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:9877.99px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11611.19px;left:10162.46px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:0px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:485.88px;letter-spacing:0px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:705.25px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:1002.36px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:1599.76px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:2608px;white-space:nowrap">may </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:3005.11px;text-rendering:optimizeLegibility;white-space:nowrap">differ </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:3489.62px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:4531.25px;white-space:nowrap">from </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:4972.79px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:5269.9px;white-space:nowrap">values </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:5833.61px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:6186.29px;white-space:nowrap">would </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:6739.06px;white-space:nowrap">have </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:7169.37px;white-space:nowrap">been </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:7599.68px;white-space:nowrap">used </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:8019.05px;white-space:nowrap">had </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:8360.59px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:8502.13px;white-space:nowrap">readily </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:9110.18px;white-space:nowrap">available </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:11851.19px;left:9884.73px;white-space:nowrap">market </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12091.19px;left:0px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12091.19px;left:483.11px;white-space:nowrap">existed </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12091.19px;left:1099.61px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12091.19px;left:1382.81px;white-space:nowrap">such </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12091.19px;left:1799.41px;white-space:nowrap">investments, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12091.19px;left:2854.88px;white-space:nowrap">and </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12091.19px;left:3193.65px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12091.19px;left:3487.99px;text-rendering:optimizeLegibility;white-space:nowrap">differences </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12091.19px;left:4413.87px;white-space:nowrap">could </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12091.19px;left:4908.2px;white-space:nowrap">be </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:12091.19px;left:5146.97px;white-space:nowrap">material.</div></div>
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<div style="background-image:url(data:image/png;base64,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);background-repeat:no-repeat;background-size:cover;height:42.56px;left:0px;position:absolute;top:0px;transform:translate(36.000px,32.423px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:522.00px">
<div style="width:10440px;height:715.95px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,4.78px) rotate(0deg) scale(0.05)">
<div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:32.32px;letter-spacing:5.86px;white-space:nowrap">Fundrise </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:1160.93px;letter-spacing:5.52px;white-space:nowrap">Growth </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:2194.03px;letter-spacing:4.92px;white-space:nowrap">Tech </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:2838.96px;letter-spacing:4.1px;white-space:nowrap">Fund, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;font-weight:bold;text-transform:uppercase;position:absolute;top:-32.03px;left:3522.55px;letter-spacing:5.86px;white-space:nowrap">LLC</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:32.32px;letter-spacing:5.27px;white-space:nowrap">Notes </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:758.29px;letter-spacing:2.31px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:1085.34px;letter-spacing:5.86px;white-space:nowrap">Schedule </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:2236.03px;letter-spacing:3.52px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:207.97px;left:2555.75px;letter-spacing:6.15px;white-space:nowrap">Investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:207.97px;left:4068.45px;white-space:nowrap">(Unaudited)</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:447.97px;left:32.32px;letter-spacing:4.92px;white-space:nowrap">June </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:447.97px;left:595.79px;white-space:nowrap">30, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;text-transform:uppercase;position:absolute;top:447.97px;left:895.79px;white-space:nowrap">2023</div></div>
</div>
<div style="height:15.46px;left:0px;position:absolute;top:0px;transform:translate(36.000px,722.745px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:522.00px">
<div style="width:10440px;height:172.8px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,4.46px) rotate(0deg) scale(0.05)">
<div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:5170px;white-space:nowrap">4</div></div>
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<div 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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:532.80px">
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<div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:0px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:357.2px;letter-spacing:0px;white-space:nowrap">following </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:1181.2px;letter-spacing:0px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:1360.87px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:1495.9px;white-space:nowrap">summary </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:2286.51px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:2499.37px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:2789.98px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:3325.21px;white-space:nowrap">used </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:3738.07px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:3950.94px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:4163.81px;white-space:nowrap">June </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:4576.68px;white-space:nowrap">30, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:4872.94px;letter-spacing:0px;white-space:nowrap">2023</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:5272.94px;white-space:nowrap">, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:5369.21px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:5571.04px;white-space:nowrap">valuing </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:6217.21px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:6507.81px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:7098.71px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:8100.44px;white-space:nowrap">carried </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:8701.79px;white-space:nowrap">at </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:8892.39px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:-28.81px;left:9216.2px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", serif;font-size:200px;font-style:italic;position:absolute;top:-28.81px;left:9695.57px;white-space:nowrap">(amounts </div><div style="font-family:"Times New Roman", serif;font-size:200px;font-style:italic;position:absolute;top:211.19px;left:0px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", serif;font-size:200px;font-style:italic;position:absolute;top:211.19px;left:205.57px;white-space:nowrap">thousands)</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:211.19px;left:1083.4px;white-space:nowrap">:</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:0px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:354.62px;white-space:nowrap">following </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:1176.04px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:1353.12px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:1485.57px;white-space:nowrap">summary </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:2273.59px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:2483.87px;letter-spacing:0px;white-space:nowrap">quantitative </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:3471.7px;white-space:nowrap">information </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:4459.62px;white-space:nowrap">about </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:4947.64px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:5235.66px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:6112.64px;white-space:nowrap">unobservable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:7222.63px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:7755.28px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:7965.56px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:8253.58px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:8841.89px;white-space:nowrap">Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:9340.85px;white-space:nowrap">3 </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2331.23px;left:9484.53px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:0px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:239.17px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:478.34px;white-space:nowrap">June </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:917.5px;white-space:nowrap">30, </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:1240.07px;white-space:nowrap">2023</div><div style="font-family:"Times New Roman", serif;font-size:200px;font-style:italic;position:absolute;top:2571.23px;left:1712.63px;white-space:nowrap">(amounts </div><div style="font-family:"Times New Roman", serif;font-size:200px;font-style:italic;position:absolute;top:2571.23px;left:2529.63px;letter-spacing:0px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", serif;font-size:200px;font-style:italic;position:absolute;top:2571.23px;left:2757.77px;white-space:nowrap">thousands)</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:3635.6px;white-space:nowrap">. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:3754.55px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:4138.06px;white-space:nowrap">weighted </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:4943.73px;white-space:nowrap">average </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:5637.97px;white-space:nowrap">range </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:6154.68px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:6393.85px;white-space:nowrap">unobservable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:7532.72px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:8094.25px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:8300.22px;white-space:nowrap">based </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:8828.15px;white-space:nowrap">on </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:9100.72px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:9417.62px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:9767.73px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2571.23px;left:10273.4px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:0px;white-space:nowrap">investments. </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:1112.59px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:1478.9px;white-space:nowrap">tables </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:2000.77px;white-space:nowrap">are </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:2300.28px;white-space:nowrap">not </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:2611.22px;white-space:nowrap">intended </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:3355.26px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:3566.19px;white-space:nowrap">be </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:3810.33px;white-space:nowrap">all-inclusive </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:4854.28px;white-space:nowrap">but </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:5165.21px;white-space:nowrap">instead </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:5787.08px;white-space:nowrap">capture </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:6430.93px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:6730.64px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:7619.3px;white-space:nowrap">unobservable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:8740.98px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:9285.32px;white-space:nowrap">relevant </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:9984.73px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:2811.23px;left:10195.66px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3051.23px;left:0px;letter-spacing:-1.58px;white-space:nowrap">Fund’s </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3051.23px;left:594.63px;white-space:nowrap">determination </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3051.23px;left:1755.37px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3051.23px;left:1971.97px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:3051.23px;left:2299.51px;white-space:nowrap">value.</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:0px;white-space:nowrap">The </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:368.24px;white-space:nowrap">following </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:1203.28px;white-space:nowrap">is </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:1393.99px;white-space:nowrap">a </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:1540.06px;white-space:nowrap">reconciliation </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:2696.88px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:2920.79px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:3933.56px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:4146.43px;white-space:nowrap">which </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:4692.51px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:5583.12px;white-space:nowrap">unobservable </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:6706.73px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:7253px;white-space:nowrap">(Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:7832.18px;white-space:nowrap">3) </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:8056.09px;white-space:nowrap">were </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:8501.97px;white-space:nowrap">used </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:8925.88px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:9138.75px;white-space:nowrap">determining </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5395.34px;left:10162.46px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5635.34px;left:0px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", serif;font-size:200px;font-style:italic;position:absolute;top:5635.34px;left:483.11px;white-space:nowrap">(amounts </div><div style="font-family:"Times New Roman", serif;font-size:200px;font-style:italic;position:absolute;top:5635.34px;left:1277.54px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", serif;font-size:200px;font-style:italic;position:absolute;top:5635.34px;left:1483.11px;white-space:nowrap">thousands)</div><div style="font-family:"Times New Roman", Times, serif;font-size:200px;position:absolute;top:5635.34px;left:2360.94px;white-space:nowrap">:</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:637.23px;left:4649.4px;white-space:nowrap">Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:637.23px;left:5062.6px;white-space:nowrap">1</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:637.23px;left:6089.4px;white-space:nowrap">Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:637.23px;left:6502.6px;white-space:nowrap">2</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:637.23px;left:7529.4px;white-space:nowrap">Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:637.23px;left:7942.6px;white-space:nowrap">3</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:637.23px;left:9041.12px;letter-spacing:-2.94px;white-space:nowrap">Total</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:828.16px;left:1440px;white-space:nowrap">Common </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:828.16px;left:2075.63px;white-space:nowrap">Stock</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:828.16px;left:4288px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:828.16px;left:5449.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:828.16px;left:5728px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:828.16px;left:6889.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:828.16px;left:7168px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:828.16px;left:7975.54px;letter-spacing:-6.56px;white-space:nowrap">11,022‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:828.16px;left:8608px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:828.16px;left:9415.54px;letter-spacing:-6.56px;white-space:nowrap">11,022‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1019.1px;left:1440px;white-space:nowrap">Preferred </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1019.1px;left:2075.16px;white-space:nowrap">Stock</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1019.1px;left:5449.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1019.1px;left:6889.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1019.1px;left:8049.6px;letter-spacing:-6.67px;white-space:nowrap">9,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1019.1px;left:9489.6px;letter-spacing:-6.67px;white-space:nowrap">9,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1210.04px;left:1440px;white-space:nowrap">Limited </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1210.04px;left:1986.56px;white-space:nowrap">Partnership</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1210.04px;left:5449.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1210.04px;left:6889.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1210.04px;left:8169.6px;letter-spacing:-10px;white-space:nowrap">506‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1210.04px;left:9609.6px;letter-spacing:-10px;white-space:nowrap">506‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1400.98px;left:1440px;white-space:nowrap">Corporate </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1400.98px;left:2119.77px;white-space:nowrap">Convertible </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1400.98px;left:2915.16px;white-space:nowrap">Bonds</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1400.98px;left:5449.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1400.98px;left:6609.6px;letter-spacing:-6.67px;white-space:nowrap">5,025‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1400.98px;left:8329.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1400.98px;left:9489.6px;letter-spacing:-6.67px;white-space:nowrap">5,025‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1591.91px;left:1440px;white-space:nowrap">Corporate </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1591.91px;left:2119.77px;white-space:nowrap">Non-Convertible </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1591.91px;left:3243.98px;white-space:nowrap">Bonds</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1591.91px;left:5449.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1591.91px;left:6529.6px;letter-spacing:-5.71px;white-space:nowrap">14,522‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1591.91px;left:8329.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1591.91px;left:9409.6px;letter-spacing:-5.71px;white-space:nowrap">14,522‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1782.85px;left:1440px;letter-spacing:-1.02px;white-space:nowrap">Short-Term </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1782.85px;left:2215.31px;white-space:nowrap">Investments</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1782.85px;left:5089.6px;letter-spacing:-5.71px;white-space:nowrap">34,151‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1782.85px;left:6889.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1782.85px;left:8329.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:1782.85px;left:9409.6px;letter-spacing:-5.71px;white-space:nowrap">34,151‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1973.79px;left:1440px;letter-spacing:-2.45px;white-space:nowrap">Total </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1973.79px;left:1829.77px;white-space:nowrap">Investments</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1973.79px;left:4288px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1973.79px;left:5089.6px;letter-spacing:-5.71px;white-space:nowrap">34,151‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1973.79px;left:5728px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1973.79px;left:6529.6px;letter-spacing:-5.71px;white-space:nowrap">19,547‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1973.79px;left:7168px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1973.79px;left:7969.6px;letter-spacing:-5.71px;white-space:nowrap">20,528‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1973.79px;left:8608px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:1973.79px;left:9409.6px;letter-spacing:-5.71px;white-space:nowrap">74,226‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3697.09px;left:409.81px;white-space:nowrap">Investment</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3697.09px;left:2091.63px;letter-spacing:-0.58px;white-space:nowrap">Fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3697.09px;left:2419.05px;letter-spacing:-2.94px;white-space:nowrap">Value</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3697.09px;left:3474.2px;letter-spacing:-1.47px;white-space:nowrap">Valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3697.09px;left:4172.33px;letter-spacing:-1.63px;white-space:nowrap">Technique</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3697.09px;left:5221.62px;white-space:nowrap">Unobservable </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3697.09px;left:6203.88px;white-space:nowrap">Input</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3505.09px;left:7043.13px;white-space:nowrap">Range </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3505.09px;left:7518.68px;letter-spacing:-0.88px;white-space:nowrap">(Weighted </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3697.09px;left:7327px;letter-spacing:-1.48px;white-space:nowrap">Average)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3313.09px;left:8607.88px;white-space:nowrap">Impact </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3313.09px;left:9136.71px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3313.09px;left:9307.1px;letter-spacing:-1.47px;white-space:nowrap">Valuation </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3505.09px;left:8622.1px;letter-spacing:-0.58px;white-space:nowrap">from </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3505.09px;left:8996.79px;white-space:nowrap">an </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3505.09px;left:9205.77px;letter-spacing:-0.32px;white-space:nowrap">Increase </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3505.09px;left:9820.46px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:3697.09px;left:9042.37px;white-space:nowrap">Input</div><div style="font-family:"Times New Roman", serif;font-size:93.3px;font-weight:bold;position:absolute;top:3699.68px;left:9424.87px;white-space:nowrap">(1)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3888.02px;left:0px;white-space:nowrap">Common </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3888.02px;left:635.63px;white-space:nowrap">Stock</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3888.02px;left:1584px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3888.02px;left:2863.54px;letter-spacing:-3.06px;white-space:nowrap">11,022‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3888.02px;left:3560.53px;white-space:nowrap">Recent </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3888.02px;left:4041.86px;letter-spacing:-0.51px;white-space:nowrap">Transaction</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3888.02px;left:5344.82px;letter-spacing:-0.47px;white-space:nowrap">Transaction </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3888.02px;left:6134.43px;white-space:nowrap">Price</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3888.02px;left:7498.64px;letter-spacing:-2.94px;white-space:nowrap">N/A</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:3888.02px;left:9021.55px;white-space:nowrap">Increase</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4078.96px;left:0px;white-space:nowrap">Preferred </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4078.96px;left:635.16px;white-space:nowrap">Stock</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4078.96px;left:2937.6px;letter-spacing:-4px;white-space:nowrap">9,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4078.96px;left:3560.53px;white-space:nowrap">Recent </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4078.96px;left:4041.86px;letter-spacing:-0.51px;white-space:nowrap">Transaction</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4078.96px;left:5344.82px;letter-spacing:-0.47px;white-space:nowrap">Transaction </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4078.96px;left:6134.43px;white-space:nowrap">Price</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4078.96px;left:7498.64px;letter-spacing:-2.94px;white-space:nowrap">N/A</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4078.96px;left:9021.55px;white-space:nowrap">Increase</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4269.9px;left:0px;white-space:nowrap">Limited </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4269.9px;left:546.56px;white-space:nowrap">Partnership</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4269.9px;left:3057.6px;letter-spacing:-5px;white-space:nowrap">506‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4269.9px;left:3560.53px;white-space:nowrap">Recent </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4269.9px;left:4041.86px;letter-spacing:-0.51px;white-space:nowrap">Transaction</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4269.9px;left:5344.82px;letter-spacing:-0.47px;white-space:nowrap">Transaction </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4269.9px;left:6134.43px;white-space:nowrap">Price</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4269.9px;left:7498.64px;letter-spacing:-2.94px;white-space:nowrap">N/A</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4269.9px;left:9021.55px;white-space:nowrap">Increase</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:0px;white-space:nowrap">(1)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:360px;white-space:nowrap">Represents </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:1104.01px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:1341.46px;letter-spacing:0px;white-space:nowrap">expected </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:1951.95px;white-space:nowrap">directional </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:2678.07px;letter-spacing:0px;white-space:nowrap">change </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:3173.1px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:3339.53px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:3576.98px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:3840.99px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:4229.45px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:4404.71px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:4642.16px;white-space:nowrap">Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:5048.36px;white-space:nowrap">3 </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:5170.34px;letter-spacing:0px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:5976.69px;white-space:nowrap">that </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:6258.59px;white-space:nowrap">would </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:6700.57px;white-space:nowrap">result </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:7098.02px;white-space:nowrap">from </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:7451.02px;white-space:nowrap">an </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:7644.01px;white-space:nowrap">increase </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:8210.05px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:8376.48px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:8613.93px;white-space:nowrap">corresponding </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:9571.22px;white-space:nowrap">input. </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4724.84px;left:9973.28px;letter-spacing:-4.41px;white-space:nowrap">A </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:360px;white-space:nowrap">decrease </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:957.25px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:1128.33px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:1370.43px;letter-spacing:0px;white-space:nowrap">unobservable </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:2270.1px;white-space:nowrap">input </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:2645.63px;letter-spacing:0px;white-space:nowrap">would </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:3092.26px;white-space:nowrap">have </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:3440.92px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:3683.01px;white-space:nowrap">opposite </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:4271.83px;text-rendering:optimizeLegibility;white-space:nowrap">effect. </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:4712.59px;text-rendering:optimizeLegibility;white-space:nowrap">Significant </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:5452.58px;white-space:nowrap">changes </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:6014.52px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:6185.6px;white-space:nowrap">these </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:6560.97px;white-space:nowrap">inputs </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:6998.77px;white-space:nowrap">could </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:7400.87px;white-space:nowrap">result </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:7802.96px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:7974.04px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:8811.76px;white-space:nowrap">higher </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:9267.14px;white-space:nowrap">or </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:9447.05px;white-space:nowrap">lower </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:4916.84px;left:9857.97px;white-space:nowrap">fair </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5108.84px;left:360px;white-space:nowrap">value </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:5108.84px;left:746.48px;white-space:nowrap">measurements.</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6019.77px;left:5663.82px;white-space:nowrap">Common </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6019.77px;left:6334.91px;white-space:nowrap">Stock</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6019.77px;left:7234.21px;letter-spacing:-0.58px;white-space:nowrap">Preferred </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6019.77px;left:7934.52px;white-space:nowrap">Stock</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6019.77px;left:8660.04px;white-space:nowrap">Limited </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6019.77px;left:9242.23px;white-space:nowrap">Partnership</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6210.71px;left:504px;white-space:nowrap">Balance </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6210.71px;left:1086.19px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6210.71px;left:1268.45px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6210.71px;left:1441.73px;letter-spacing:-0.48px;white-space:nowrap">March </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6210.71px;left:1940.87px;white-space:nowrap">31, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:6210.71px;left:2180.88px;white-space:nowrap">2023</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6210.71px;left:5510px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6210.71px;left:6536.6px;letter-spacing:-6.67px;white-space:nowrap">1,022‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6210.71px;left:7095px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6210.71px;left:8121.6px;letter-spacing:-6.67px;white-space:nowrap">5,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6210.71px;left:8680px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6210.71px;left:9985.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6401.65px;left:504px;white-space:nowrap">Purchases</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6401.65px;left:6456.6px;letter-spacing:-5.71px;white-space:nowrap">10,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6401.65px;left:8121.6px;letter-spacing:-6.67px;white-space:nowrap">4,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6401.65px;left:9825.6px;letter-spacing:-10px;white-space:nowrap">506‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6592.59px;left:504px;white-space:nowrap">Accrued </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6592.59px;left:1085.87px;white-space:nowrap">discounts </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6592.59px;left:1730.33px;white-space:nowrap">(premiums)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6592.59px;left:6816.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6592.59px;left:8401.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6592.59px;left:9985.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6783.52px;left:504px;white-space:nowrap">Realized </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6783.52px;left:1103.69px;white-space:nowrap">gain </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6783.52px;left:1419.16px;white-space:nowrap">(loss)</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6783.52px;left:6816.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6783.52px;left:8401.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6783.52px;left:9985.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6974.46px;left:504px;white-space:nowrap">Net </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6974.46px;left:775.02px;white-space:nowrap">change </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6974.46px;left:1268.06px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6974.46px;left:1432.52px;white-space:nowrap">unrealized </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6974.46px;left:2138.77px;white-space:nowrap">appreciation/depreciation</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6974.46px;left:6816.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6974.46px;left:8401.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:6974.46px;left:9985.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7165.4px;left:504px;white-space:nowrap">Return </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7165.4px;left:979.47px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7165.4px;left:1152.75px;white-space:nowrap">capital </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7165.4px;left:1619.16px;white-space:nowrap">distributions</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7165.4px;left:6816.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7165.4px;left:8401.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7165.4px;left:9985.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7356.34px;left:504px;white-space:nowrap">Sales</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7356.34px;left:6816.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7356.34px;left:8401.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7356.34px;left:9985.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7547.27px;left:504px;letter-spacing:-0.56px;white-space:nowrap">Transfers </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7547.27px;left:1142.52px;white-space:nowrap">into </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7547.27px;left:1431.42px;white-space:nowrap">Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7547.27px;left:1835.64px;white-space:nowrap">3</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7547.27px;left:6816.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7547.27px;left:8401.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7547.27px;left:9985.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7738.21px;left:504px;letter-spacing:-0.56px;white-space:nowrap">Transfers </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7738.21px;left:1142.52px;white-space:nowrap">out </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7738.21px;left:1386.97px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7738.21px;left:1560.25px;white-space:nowrap">Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7738.21px;left:1964.47px;white-space:nowrap">3</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7738.21px;left:6816.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7738.21px;left:8401.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:7738.21px;left:9985.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:7929.15px;left:504px;white-space:nowrap">Balance </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:7929.15px;left:1086.19px;white-space:nowrap">as </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:7929.15px;left:1268.45px;white-space:nowrap">of </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:7929.15px;left:1441.73px;white-space:nowrap">June </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:7929.15px;left:1810.72px;white-space:nowrap">30, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:7929.15px;left:2050.72px;white-space:nowrap">2023</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:7929.15px;left:5510px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:7929.15px;left:6465.43px;letter-spacing:-6.98px;white-space:nowrap">11,022‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:7929.15px;left:7095px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:7929.15px;left:8121.6px;letter-spacing:-6.67px;white-space:nowrap">9,000‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:7929.15px;left:8680px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;font-weight:bold;position:absolute;top:7929.15px;left:9825.6px;letter-spacing:-10px;white-space:nowrap">506‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8120.09px;left:504px;white-space:nowrap">Net </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8120.09px;left:775.02px;white-space:nowrap">change </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8120.09px;left:1268.06px;white-space:nowrap">in </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8120.09px;left:1432.52px;white-space:nowrap">unrealized </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8120.09px;left:2138.77px;white-space:nowrap">appreciation/depreciation </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8120.09px;left:3804.63px;white-space:nowrap">for </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8120.09px;left:4031.19px;white-space:nowrap">the </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8120.09px;left:4266.66px;white-space:nowrap">period </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8120.09px;left:4715.41px;white-space:nowrap">ended </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8120.09px;left:5137.44px;white-space:nowrap">June </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:504px;white-space:nowrap">30, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:744px;white-space:nowrap">2023 </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:1104px;white-space:nowrap">related </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:1579.23px;white-space:nowrap">to </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:1743.69px;white-space:nowrap">Level </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:2147.91px;white-space:nowrap">3 </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:2267.91px;white-space:nowrap">investments </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:3072.28px;white-space:nowrap">held </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:3387.75px;white-space:nowrap">at </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:3543.22px;white-space:nowrap">June </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:3876.5px;white-space:nowrap">30, </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:4116.5px;white-space:nowrap">2023</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:5510px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:6816.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:7095px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:8401.6px;letter-spacing:-20px;white-space:nowrap">–‌</div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:8680px;white-space:nowrap">$ </div><div style="font-family:"Times New Roman", Times, serif;font-size:160px;position:absolute;top:8312.09px;left:9985.6px;letter-spacing:-20px;white-space:nowrap">–‌</div></div>
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</DOCUMENT>
</SEC-DOCUMENT>