Financial Performance - Net investment income (NII) per share for Q3 2025 was $0.46, unchanged from the prior quarter[20] - Net realized and unrealized losses on investments per share for Q3 2025 were ($0.27)[20] - Net asset value (NAV) per share as of September 30, 2025, was $19.28, compared to $19.55 in the prior quarter[20] - The company declared a regular dividend of $0.42 per share for Q4 2025[20] - Total net assets were $714 million as of September 30, 2025[11] Portfolio Composition - Total portfolio investments were $1,581 million as of September 30, 2025[11, 20] - 90% of the portfolio comprised senior secured first lien and unitranche first lien investments by fair value[20, 38] - The portfolio consisted of 187 portfolio companies across 18 industries[20, 38] - Floating rate investments accounted for 97% of the portfolio[24, 38, 47] Capital Structure and Liquidity - The company had $27.8 million in cash and cash equivalents and restricted cash[20] - Undrawn debt capacity was $239.8 million as of September 30, 2025[20, 65] - The debt-to-equity ratio was 1.23x[11, 22, 26]

Core Viewpoint - Olive Resource Capital Inc. reported a strong investment performance for the second quarter of 2025, with a portfolio value increase of approximately 13.6% in the quarter and about 33% year-to-date after overhead costs [4][6]. Investment Portfolio Summary - The total value of Olive's investment portfolio increased from $6.42 billion on December 31, 2024, to $8.54 billion by June 30, 2025, reflecting a significant appreciation in stock prices [2][5]. - Key investments included: - Omai Gold Mines: Increased from $456.72 million to $1.38 billion, a rise of approximately 201% [2]. - Troilus Gold Corp.: Increased from $190.80 million to $516.03 million, a rise of approximately 171% [2]. - Arizona Sonoran Copper Co.: Increased from $255.78 million to $426.76 million, a rise of approximately 67% [2]. - The company maintained a focus on fewer, higher conviction investments, which contributed to the strong returns [4][6]. Market Commentary - The commodities market advanced cautiously in Q2 2025 compared to Q1, but commodity-related equities outperformed their benchmarks, indicating increased interest from generalist investors [4]. - The company is adopting a cautious investment approach during the summer, anticipating a typically weaker fall period for the sector [4].