SVVC — what changed in the latest 10-Q
A section-by-section comparison of SVVC's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-14 vs the prior 10-Q · 2026-05-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +30 | −3 | ~20 | 26 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~3 | 8 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Legal proceedings | Text added/removed | 0 | −1 | ~2 | 4 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-14
Significant components of net operating expenses for the three months ended June 30, 2026 were net legal fees reimbursement of $86,624, administration fees of $30,545 and compliance fees of $27,509.
The net investment income/(loss) before taxes was $6,275 for the three months ended June 30, 2026, and $(63,174) for the three months ended June 30, 2025.
The following information is a comparison for the six months ended June 30, 2026 and June 30, 2025
For the six months ended June 30, 2026, we had investment income of $354 primarily attributable to interest accrued on money market investments.
For the six months ended June 30, 2025, we had investment income of $176,826 primarily attributable to an adjustment to interest accrued on convertible /term note investments with Hera Systems.
Text removed vs the prior filing · source: 10-Q · 2026-05-14
Significant components of net operating expenses for the three months ended March 31, 2026 were management fee expense of $1,081 (see Note 4), professional fees (audit, legal, and consulting) of $42,706, director fees of $12,500, administration fees of $28,985, and compliance fees $27,206.
The net investment income/(loss) before taxes was $(184,099) for the three months ended March 31, 2026, and $(113,218) for the three months ended March 31, 2025.
During the three months ended March 31, 2025, we recognized no net realized gains/(losses).
Legal proceedings
Text removed vs the prior filing · source: 10-Q · 2026-05-14
As of 3/31/2026, the Fund was engaged in multiple legal proceedings as described below.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice