Fair Value Net Asset Value (FV NAV)
Represents the excess of the fair value of investments owned, cash, receivables, and other assets over the liabilities of the reporting entity. Notwithstanding different financial statement presentations that exist between the Operating Model and Non-operating Model, FV NAV reported by a reporting entity under both models is generally expected to be similar because both models require investments to be reported at fair value in accordance with ASC 820.