Ben Axler
Hedge fund manager, long/short equity, tech, large-cap

Firsthand Technology Value Fund (SVVC): Discount To NAV May Narrow Significantly As Twitter And Facebook Values Surge

Last week, a Seeking Alpha contributor laid out the case why GSV Capital (NASDAQ:GSVC) was materially undervalued relative to its NAV. We also believe the Firsthand Technology Value Fund (NASDAQ:SVVC) has a tremendous amount of value to be unlocked at its current share price of $24.20. This closed end fund holds an increasingly valuable portfolio of Twitter (NYSE:TWTR) and Facebook (NASDAQ:FB) shares, along with a fortress of cash, and private securities that are almost free options at the current price. In total, SVVC shares are trading ~23% below our estimate of its current Net Asset Value (NAV) per share of $31.30.

According to some recently cited research from Morningstar, the average...

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