The
following
is
a
reconciliation
of
assets
for
which
Level
3
inputs
were
used
in
determining
fair
value:
The
FVC
continues
to
evaluate
any
information
that
could
cause
an
adjustment
to
the
fair
value
for
these
investments,
such
as
market
news,
the
progress
of
judicial
and
regulatory
proceedings,
and
subadviser
recommendations.
Common
Stocks
Rights
Total
Balance
as
of
12/31/2022
$
350,378
$
2,364
$
352,742
Accrued
Accretion/(Amortization)
—
—
—
Realized
Gains
(Losses)
93,659
—
93,659
Purchases
—
—
—
Sales
(171,263)
—
(171,263)
Change
in
Unrealized
Appreciation/Depreciation
(54,049)
(296)
(54,345)
Transfers
into
Level
3
—
—
—
Transfers
out
of
Level
3
—
—
—
Balance
as
of
3/31/2023
$
218,725
$
2,068
$
220,793
Change
in
Unrealized
Appreciation/Depreciation
for
Investments
Still
Held
as
of
3/31/2023
$
(54,049)
$
(296)
$
(54,345)
The
Statement
of
Investments
should
be
read
in
conjunction
with
the
financial
statements
and
notes
to
financial
statements
which
are
included
in
the
Fund’s
audited
annual
report
and
unaudited
semi-annual
report.