I'm trying to value WHSP. I've taken their Sept 16 update which...

I'm trying to value WHSP. I've taken their Sept 16 update which showed values for 31/7/16 (not end of June like most co's.)

I've then calculated the share price change from then until 31/01/17 and applied this change to the holdings.

I know this isn't 100% accurate as there could have been share buy backs or issues from some companies but the valuation I've gotten is very worrying. Can anyone shed any light as to where my calculation may be going wrong? I've got a 31% drop in portfolio value:

	Column 1	Column 2	Column 3	Column 4	Column 5
1		31/07/2016		31/01/2017
2		Holdings (M)	Share Price ($)	Share Price ($)	Holdings (M)
3	TPG	2,738	12.83	6.47	1,381
4	Brickworks	987	15.03	12.67	832
5	New Hope	793	1.62	1.6	783
6	Aus Pharmaceutical Industries	231	1.92	1.88	226
7	BKI	101	1.63	1.71	106
8	Ruralco	53	3.31	3.05	49
9	Apex Healthcare	45	3.9	4.78	55
10
11	Total Value ($M)	4,948			3,432

*this excludes the privately listed, property assets & HHL, but they are only a small portion of the WHSP portfolio.