1/3 Off Stocks
Cheap mega cap tech
August 28, 2025
The California First Leasing (CFNB) net asset value is >$29 comprised of a liquid portfolio of mostly large cap growth stocks. Shares trade for under 65% of an NAV that could be liquidated within an hour without moving their share prices.
May 8, 2026
NAV has increased to $43 per share, driven by tech positions such as Micron (MU). The market price hasn’t kept up, with shares trading at ~72% of its NAV of mostly liquid securities.