Five holding companies whose value sits in the businesses and property they own rather than in one operation: Centum Investment, Trans-Century, Home Afrika, Olympia Capital and Kurwitu Ventures. Their share prices tend to sit at a discount to the net value of what they hold, and the gap widens or narrows with sentiment, debt levels and the timing of asset sales. Several are thinly traded and a few show no trade for days at a time, so the average change on this page can rest on one or two counters. Annual reports, not daily news, carry most of the information.