QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: Our portfolio primarily consists of equity and debt securities issued by smaller U.S.
−Removed: companies that primarily own commercial real estate that are either illiquid or not listed on any exchange, and our investments in
−Removed: these securities are considered speculative in nature.
−Removed: Our investments do and will often include securities that are subject to legal or contractual restrictions on resale that adversely affect the liquidity and marketability of such securities.
−Removed: result, we are subject to risk of loss which may prevent our stockholders from achieving price appreciation, dividend distributions and a return of their capital.
+Added: Our portfolio primarily consists of equity and debt investments in smaller U.
+Added: companies that primarily own commercial real estate that are either illiquid or not listed on any exchange, and our investments are
+Added: considered speculative in nature.
+Added: As a result, we are subject to risk of loss which may prevent our stockholders from achieving price appreciation, dividend distributions and a return of their capital.
At June 30, 2021, financial instruments that subjected us to concentrations of market risk consisted principally of equity investments, which represented approximately 51% of our total assets as of that date.
−Removed: discussed in Note 3 – Investments to our financials statement, these investments primarily consist of securities in companies with no readily determinable market values and as such are valued in accordance with our fair value policies and procedures.
+Added: discussed in Note 4 – Investments, to our consolidated financials statements, these investments primarily consist of securities in companies with no readily determinable market values and as such are valued in accordance with our fair value
+Added: policies and procedures.
Our investment portfolio also includes shares of publicly traded REITs, which are valued at recently quoted trading prices.
−Removed: Our investment strategy represents a high degree of business and financial risk due primarily to the general illiquidity of
−Removed: our portfolio company investments.
−Removed: We may make short-term investments in cash equivalents, U.S.
−Removed: government securities and other high-quality investments that mature in one year or less, pending investments in portfolio companies made according to our
−Removed: principal investment strategy.
+Added: Our investment strategy represents a high degree of business and financial risk due primarily to
+Added: the general illiquidity of our investments.
+Added: We may make short-term investments in cash equivalents, U.
+Added: government securities and other high-quality investments that mature in one year or less, pending investments in portfolio companies made
+Added: according to our principal investment strategy.
CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.