Valuation
Inputs
The
following
table
summarizes
the
fund’s
financial
instruments,
based
on
the
inputs
used
to
determine
their
fair
values
on
March
31,
2026
(for
further
detail
by
category,
please
refer
to
the
accompanying
Portfolio
of
Investments):
Following
is
a
reconciliation
of
the
fund’s
Level
3
holdings
for
the
period ended
March
31,
2026.
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
March
31,
2026,
totaled $2,244,000 for
the
period ended
March
31,
2026.
OTHER
MATTERS
Unpredictable environmental,
political,
social
and
economic
events,
including
but
not
limited
to,
environmental
or
natural
disasters,
war
and
conflict,
terrorism,
geopolitical
and
regulatory
developments
(including
trading
and
tariff
arrangements),
and
public
health
epidemics
or
threats,
may
significantly
affect
the
economy
and
the
markets
and
issuers
in
which
a
fund
invests.
The
extent
and
duration
of
such
events
and
resulting
market
disruptions
cannot
be
predicted.
These
and
other
similar
events
may
cause
instability
across
($000s)
Level
1
Level
2
Level
3
Total
Value
Assets
Common
Stocks
$
1,685,356
$
18,678
$
27,691
$
1,731,725
Convertible
Preferred
Stocks
—
—
3,295
3,295
Short-Term
Investments
7,640
—
—
7,640
Securities
Lending
Collateral
2,566
—
—
2,566
Total
$
1,695,562
$
18,678
$
30,986
$
1,745,226
($000s)
Beginning
Balance
12/31/25
Gain
(Loss)
During
Period
Ending
Balance
3/31/26
Investment
in
Securities
Common
Stocks
$
25,704
$
1,987
$
27,691
Convertible
Preferred
Stocks
3,038
257
3,295
Total
$
28,742
$
2,244
$
30,986