Top 5 Holdings

Top 5 Holdings

As of July 31, 2017

Position Company % Preliminary Net Assets
1. Pivotal Systems, Inc. 18.8%
2. IntraOp Medical Corp. 17.3%
3. QMAT, Inc. 10.4%
4. Wrightspeed, Inc. 7.5%
5. Nutanix, Inc. 7.0%

Additional Information

The Fund also announced that, as of July 31, 2017, estimated net assets of the Fund were approximately $139 million, or $18.73 per share, including cash of approximately $1.30 per share. As of that date, the Fund's top five holdings constituted 61.0% of the Fund's estimated net assets.* Complete financial statements and a detailed schedule of investments as of June 30, 2017, are available in the Fund's quarterly report filing on Form 10-Q.

*Estimated net assets as of July 31, 2017, represent net assets of approximately $140 million as of June 30, 2017, plus the net change in unrealized appreciation/depreciation and realized gains/losses on publicly traded and private securities since June 30, 2017. For the purposes of calculating the percentage of net assets represented by each investment, the value of each holding is determined by the most recent of: (1) the purchase price, (2) the market value for public securities, less any discounts taken due to restrictions on the stock, or (3) the June 30, 2017, fair value of each security, as determined under procedures approved by our Board of Directors.

On July 13, 2017, we received a Notice of Assignment for the Benefit of Creditors from Aliphcom (dba Jawbone). The notice explains that Jawbone's assets are being liquidated and the company is being wound down. Accordingly, the estimated net assets as of July 31, 2017, reflect the fact that the book value of the Fund's Jawbone securities have been written down to $0 as of July 31, 2017.