I was meaning, look at Naos' exposure to BSA as a % of their...

  1. 204 Posts.
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    I was meaning, look at Naos' exposure to BSA as a % of their total FUM. When I last did it I calculated around $123m of NTA, and their BSA holding was 22% (but I didn't take their convertible notes into consideration to view it on a gross basis, as you should). Anyway, point is, BSA is a big position for them, and it's their only big position that has worked lately.
 
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