BTI Valuation

Does anyone know where one can find BTI's actual % shareholding in the companies they own ? I have had a look but can only see their valuations and not actual share numbers or %.

BTI looks to have some interesting investments that most of us mere mortals dont get a chance to generally invest in, however they charge a lot.

In addition to the 1.75% management fee BTI management get paid, Wilson and Kirk take out another approx 300K as directorships fees for companies they invest in each year. Then on top of that they charge a 17.5% performance fee on realized gains once they are over the hurdle of 8% however this is based on gains according to their valuations... not reality. Furthermore if they perform negatively in one year losses are not recouped. Therefore if my reading is correct they can lose half value of BTI in one year, add 50% the following year which includes realized gain and pay themselves a huge performance fee of 17.5% on the 50% gain while BTI for shareholders have actually lost money over those two years ( NTA anyway).

I realize that the primary directors of Wilson and Kirk have skin in the game but they have also paid have their own BTI management company around 10M over the last four years which probably mostly goes to themselves and additionally received directors fees combine of over 1M from the companies that BTI invest in. The share price has not moved really in 4 years so shareholders have made nothing. These are rough estimations but am I reading this correctly ?