The NAV of iCap grew from 3,05 per share in 2014 to 3,40 per share in 2023.
Its price traded at a discount to its NAV all these years, this is not unexpected for a closed end fund.
At times it traded at a huge discount to its NAV, for example, in 2021 the discount to NAV was 34% and in 2022, the discount to NAV was 39%.
