The NTA is not updated overnight, it is calculated the morning on the next day, which is why the unlisted NTA is always 1 day delayed, unlike some other managed funds which have no delays in NTA. But don't take my word for it, you can always email Jeffrey Lau at L1, he is always very helpful and responds within the hour typically.
If you are expecting a 5% drop due to Tesla rallying 16%, that's not going to happen. L1 is not the type of hedge fund that has high conviction positioning with 10-20% on 1 stock. Individual positions have minimal impacts on NTA. The recent underperformance is more due to market wide/sector rotations affecting L1's portfolio rather than individual positions going wrong.
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