Ann: Change in Portfolio Value, page-18

Something needs to be done.
ALF should reduce their fund by a third, offering to buy back 1/3rd of the shares at $1.10 off market.
This would push the share price up and allow unhappy shareholders to leave with a lot more money than they currently can get.
It will also push the NTA up instantly over 2%.

It is disappointing to see the nta go backwards in down months. ALF obviously haven't found the right overvalued companies to short.