Depends on the liquidity of the assets.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

^^ exactly, you have to look at what the LT investments are made up of. Here it looks like US Treasury and Agency securities, Corporates, Munis, and a little bit of MBS. I'd definitely include it as these are very liquid assets

eta: got my info from p54 of the 10K (note 2) http://edgar.sec.gov/Archives/edgar/data/320193/000119312512444068/d411…

 

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