July 31 NTA Guestmate, page-15

End of month calc's of this month's movements in my guestimate of NSC stock holdings (see below)

Looks like a bumper month - these stocks averaged 9.1% increase or 9.8% if I leave out BSA.  BSA hasn't been mentioned in NSC NTA report, however I reckon it's in the portfolio given 1/ how high NAOS holding is, and 2/ NAOS were purchasing large quantities late last year when the switched the portfolio from CTN to NSC.

Fingers crossed for an NTA close or above $1!

	Column 1	Column 2	Column 3	Column 4
1	Stocks mentioned in monthly NSC NTA reports
2	Stock	31/07/2018	31/08/2018	Change
3	AEF	$ 145.600	$ 161.000	10.6%
4	COG	$ 0.105	$ 0.120	14.3%
5	EGG	$ 1.015	$ 1.190	17.2%
6	HLO	$ 4.690	$ 5.320	13.4%
7	JHC	$ 1.855	$ 1.775	-4.3%
8	MNF	$ 5.230	$ 5.040	-3.6%
9	MTO	$ 3.100	$ 3.450	11.3%
10	OCA	$ 1.045	$ 1.050	0.5%
11	OTW	$ 3.550	$ 4.690	32.1%
12	PME	$ 8.400	$   10.190	21.3%
13	SSM	$ 1.580	$ 1.780	12.7%
14	TGP	$ 0.995	$ 0.995	0.0%
15	TOT	$ 1.235	$ 1.260	2.0%
16
17	Not mentioned… but NAOS have considerable holding
18	BSA	$ 0.280	$ 0.280	0.0%
19
20	AVERAGE			9.1%
21	NTA Estimate	$ 0.920	$    1.00
22	(pre-tax)	(actual)	(Guestimate)