Valuation
Inputs
The
following
table
summarizes
the
fund’s
financial
instruments,
based
on
the
inputs
used
to
determine
their
fair
values
on
September
30,
2022
(for
further
detail
by
category,
please
refer
to
the
accompanying
Portfolio
of
Investments):
Following
is
a
reconciliation
of
the
fund’s
Level
3
holdings
for
the
period ended
September
30,
2022.
Gain
(loss)
reflects
both
realized
and
change
in
unrealized
gain/
loss
on
Level
3
holdings
during
the
period,
if
any.
The
change
in
unrealized
gain/
loss
on
Level
3
instruments
held
at
September
30,
2022,
totaled $(246,330,000) for
the
period ended
September
30,
2022.
In
accordance
with
GAAP,
the
following
table
provides
quantitative
information
about
significant
unobservable
inputs
used
to
determine
the
fair
valuations
of
the
fund’s
Level
3
assets,
by
class
of
financial
instrument.
Because
the
Valuation
Designee
considers
a
wide
variety
of
factors
and
inputs,
both
observable
and
unobservable,
in
determining
fair
values,
the
unobservable
inputs
presented
do
not
reflect
all
inputs
significant
to
the
fair
value
determination.
($000s)
Level
1
Level
2
Level
3
Total
Value
Assets
Common
Stocks
$
41,704,398
$
444,298
$
521,875
$
42,670,571
Convertible
Bonds
—
—
3,270
3,270
Convertible
Preferred
Stocks
—
—
1,360,178
1,360,178
Preferred
Stocks
—
224,393
—
224,393
Short-Term
Investments
173,235
—
—
173,235
Total
$
41,877,633
$
668,691
$
1,885,323
$
44,431,647
($000s)
Beginning
Balance
12/31/21
Gain
(Loss)
During
Period
Total
Purchases
Ending
Balance
9/30/22
Investment
in
Securities
Common
Stocks
$
779,052
$
(257,208)
$
31
$
521,875
Convertible
Bonds
—
—
3,270
3,270
Convertible
Preferred
Stocks
1,349,300
10,878
—
1,360,178
Total
$
2,128,352
$
(246,330)
$
3,301
$
1,885,323