A Lot of Changes over the last two Seasons in ASII
The success of the account has built and built- to the point where I thought we'd hit the Phase I benchmarks and would soon be moving into Phase II (@axrho/the-phases-of-asii). As such, this necessitated some major changes in the structure of the account as well as a change in the direction of the account. In addition, I setup the mechanism for a Private Offering of the ASII Token to current HODLers that seemed fair to all involved. (@axrho/asii-the-cardlord-fund-token-release-private-offering)
Some of the Major Changes
First: The change in direction for the account. The fund is moving from the initial accumulation stage- building up Liquidity through LPs and re-investing the proceeds while adding all the SPS AD to those same LPs to the second accumulation stage. Having built up a nice chunk of change in the various LPs- it was time to start accumulating CARDS in order to start changing the income focus of the account to card rentals.
The first step of that was to get out of the DEC:SPS LP, completely. SPS has dropped to, what I believe, nearly it's lowest point while, I believe, DEC is about to lose nearly all it's value. Some of the DEC pulled from this LP went into the SWAP.HIVE:DEC LP, while the rest was used to buy CARDS. The SPS was all Staked- whether in ASII-rentals or rhosho1 (a scholarship account).
At the same time, the BEE:DEC position we held has been eliminated, as well as the SWAP.HIVE:BXT position. This has, considerably, simplified our LP holdings- we are now, only in 4 LPS:
SWAP.HIVE:DEC- Down to $3K in there, it's still providing good Fees income as well as SPS AD points while being slowly drained for the funds needed to purchase high ROI cards.
PKM:SPS- We, of course, received a good amount of the PKM tokens during the first AD and continue to receive these tokens through weekly ADs as well as getting daily PKMs from the LP Rewards. The LP is still earning > 70% APR while we continue to re-invest into it.
The other 2- we have small positions in and are more the result of re-investing Rewards from our primary LPs than any direct investment (SWAP.HIVE:PLN and SWAP.HIVE:LVL)
OTOH: We have gone from ~500K CP in cards from 3 Seasons ago to just over 1.8M CP in cards- out rental income has also skyrocketed over that same period, of course.
Card Holdings/Rentals
Not only have our card holdings (as measured by CP) tripled over the past 2 Seasons- our Rental Income has also more than tripled (48K DEC--> 160K+ DEC/Season). We have been able to do this through the use of a tool that we have developed with the help of 
Yield Farming/LPs/SPS ADs
SPS Even though we have pulled out of 2 of our 3 LPs providing SPS AD points- the amount of SPS we receive each season has Increased to 4,500 last season. The reason being that we now have a decent amount of SPS Staked and are now getting Staking Rewards, while the DEC we pulled from these LPs we were able to re-invest into cards at very good DEC/CP rates.
SWAP.HIVE:DEC This pool continues to earn good returns from Fees- our position has increased $79 since taking it just from Fees collected by the pool. It also provides almost 400K SPS AD points, which accounts for about 35 SPS/day of our daily SPS AD.
New Investors and Current HODLers Increasing Holdings
So much happened on this front- it's hard to detail all the changes.
The major events though, were that I chatted with @VetteV about... Cardlording and investment and tools I use to facilitate this, he ended up picking up 150 tokens. He, in turn, mentioned both that I manage rentals, professionally, and the fund to 
We also grew from 6 HODLers to 16 all together.
Overall, of the 2,000 ASII tokens I had designated for Release- all of them have been bought, there has been none available on HE for most of the past 2 Seasons.
Payout and Distribution
| Account | HODL | DIST |
|---|---|---|
| 412.08 | 10994.35 |
 | 405.00 | 10805.4 |
 | 275.00 | 7337 |
 | 200.00 | 5336 |
| 184.00 | 4909.12 |
 | 150.00 | 4002 |
 | 140.50 | 3748.54 |
 | 100.00 | 2668 |
 | 60.00 | 1600.8 |
 | 26.50 | 707.02 |
 | 22.90 | 610.972 |
 | 10.00 | 266.8 |
 | 5.00 | 133.4 |
 | 5.00 | 133.4 |
 | 3.00 | 80.04 |
Our, Total, Income/Token Increased dramatically over the past couple of Seasons. From 10.25 DEC/Token 3 Seasons ago to 11.5 DEC/Token the next Season to 26.7 DEC/Token this last Season- that 26.7 DEC/Token represents a 128% yROA for the ASII token. This, as well as the exponential growth of the Asset Value of the Fund, helps to explain why the ASII Token has come to be such a hot commodity.
As mentioned before, the impending Token Issue/Release may ease some of the tightness in the ASII market (pending the results of the Private Sale to current HODLers) as well as the fact that with future TAV increases in the account, I expect to Release ~1,000 Tokens/Season at the beginning of each Season.
I am available on Discord (in the ASII Server)
https://discord.gg/tYAbrADNsu