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 $(196,370,000) for
the
period ended
September
30,
2022.
During
the
period,
transfers
into
Level
3
resulted
from
a
lack
of marketability
for
the
securities.
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)
Beginning
Balance
12/31/21
Gain
(Loss)
During
Period
Total
Purchases
Transfer
Into
Level
3
Ending
Balance
9/30/22
Investment
in
Securities
Common
Stocks
$
99,352
$
(164,437)
$
7,436
$
133,320
$
75,671
Convertible
Preferred
Stocks
170,131
(31,933)
—
—
138,198
Total
$
269,483
$
(196,370)
$
7,436
$
133,320
$
213,869
Investments
in
Securities
Value
(000s)
Valuation
Technique(s)+
Significant
Unobservable
Input(s)
Value
or
Range
of
Input(s)
Weighted
Average
of
Input(s)*
Impact
to
Valuation
from
an
Increase
in
Input**
Common
Stocks
$
75,671
Recent
comparable
transaction
price(s)
—#
—#
—#
—#
Discount
for
uncertainty
100%
100%
Decrease
Discount
for
lack
of
marketability
100%
100%
Decrease