AINV calendar year ends in March. That shift tends to move things off kilter e.g. is the dividendpaid in mid-Sept for the previous Q, or the one ending Sept 30th? The next dividend gets paid mid-Dec.Company maintained dividend, but NAV took a major hit, from $9.76/sh => $8.12/sh. This is not goodsince the typical avenue for BDC growth has been to attract new investors by offering new shares at adiscount to NAV. With AINV currently trading at roughly NAV, that means something less than $8/sh.The most recent earnings call:http://seekingalpha.com/article/305503-apollo-investment-s-c...AINV mgmt indicated the NAV had room for recovery. One analyst inquired about some "newer"investments that had not been there before. Level 3 (LVLT) was one. I think it was LUKwho had once placed a bet on Level 3. Stock had been trading in the single digits until a recentreverse split. The company likes to keep its leverage under .8, and is currently at .77, so anotherreason to worry about a dilution if investments aren't monetized.One more investment in non-accrual in Q2, total two.Have had an AINV stake for many years. Its size has gone up-and-down over theyears. Probably time for me to trim- likely on the run-up to the dividend payout.
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