Does an investment company have to be an "investment company"?

12 3(a) (3): "When used in this subchapter, `investment company' means any issuer which is engaged or proposes to engage in the business of investing, reinvesting, owning, holding, or trading in securities, and owns or proposes to acquire investment securities having a value exceeding 40 per centum of the value of such issuer's total assets (exclusive of Government securities and cash items) on an unconsolidated basis."

13 Cf. Schoenbaum v. Firstbrook, 405 F.2d 215 (2d Cir. 1968) (en banc).