Unlisted is 1 day ahead of the LIC, and was down almost exactly...

Unlisted is 1 day ahead of the LIC, and was down almost exactly 1% on 2 August. But almost all the known ASX positions were deeply in the red that day, and all the known large international positions like Shell, BP, European banks, Heidelberg Cement were down more than 2%, so the impact of the 16% rally in Tesla appears to have been minimal.

Tesla has been a long standing short position, opened since at least Feb this year, and cannot really be blamed alone for the 11% drawdown. The long only L1 equities fund is less than 2% off it's all time high, so I blame the NASDAQ shorts for all the drawdown issues. With the NASDAQ making all time highs monthly, it's no wonder that the short positions have taken a ~30% hit.

Judging by several change in substantial shareholder notices filed by L1 recently, it appears that several long term positions held since inception (such as MDL, PPC) have been completely exited (at good profit). Hopefully those proceeds will be used to close out shorts so the net market exposure can be restored to a more reasonable level. We will find out in 2 weeks.