Financial Data and Key Metrics Changes - Adjusted net investment income for Q4 2025 was $0.32 per share, covering the $0.32 per share dividend paid on December 31 [4][5] - Net asset value (NAV) declined to $11.52 per share from $12.06 per share, primarily due to lower valuation on Edmentum [5][25] - Total investment income for the quarter was $77 million, a 4% decrease compared to the prior quarter [34] Business Line Data and Key Metrics Changes - Approximately 95% of the loan portfolio is ranked green, with no positions rated red [8][24] - PIK income is expected to decrease by 20%-25% as cash proceeds from the asset sale are redeployed [20] - The top five positions now account for 14% of NMFC's portfolio value, down from a higher concentration [19] Market Data and Key Metrics Changes - The company sold approximately $477 million of assets at a price of 94% of the 12/31/2025 marks, which is considered essentially par [12][13] - The secondary sale is expected to improve diversification, with senior-oriented assets now representing 81% of the portfolio, up from 75% [19][32] Company Strategy and Development Direction - The company plans to utilize the full Dividend Protection Program, reducing the performance fee from 20% to 15% until the end of 2026, and intends to maintain this lower fee permanently thereafter [12] - The focus is on redeploying proceeds from the asset sale into first lien assets and potentially buying back stock [41][42] - The company aims to improve earnings and book value through strategic investments and stock buybacks [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the portfolio's quality, with 95% rated green, and highlighted the potential for equity appreciation in companies like UniTek [11][16] - The impact of AI on the market is acknowledged, with a focus on managing risks associated with technological changes [22] - Management believes NMFC shares should trade back towards book value, given the positive factors in the market [11] Other Important Information - The company repurchased approximately $52 million of shares in 2025 and has board authorization to buy an additional $80 million [16] - Nonaccruals remain low at 1.4% of the portfolio at fair value, with expectations for DCA to return to accrual status in Q2 [26] Q&A Session Summary Question: Is the 94% discount inclusive of any advisory fee? - The 94% of par was the purchase price of the assets, with expected fees and expenses around $7 million [41] Question: Did the company try to sell any struggling assets? - The company focused on reducing concentration and PIK income, selling larger positions that were scrutinized by the market [44][46] Question: How were the assets selected and priced? - The sale was a competitive process with multiple bidders, and assets were selected based on concentration and PIK characteristics [50][52] Question: How does the pricing of these assets relate to internal marks? - The sale was seen as fair for both sides, validating internal marks while improving portfolio composition [60]

More market jitters hit stocks this month, and this time the damage is leaking into the financial services sector. As usual, AI disruption was the catalyst, and several of the largest finance-sector stocks dropped 10% to 20% over just a few days.AI disruption is certainly no surprise to investors anymore. Still, this way this reaction unfolded suggests it was more about profit-taking and high valuations than any actual AI-influenced obsolescence.If this selloff is overdone, several prominent finance stocks ...

Welcome back to Morning Trade Live. It's time now for the big picture. So, let's welcome in the team from Charles Schwab.We're joined by Kathy Jones, fixed income strategist, the chief fixed income strategist, I should say, Schwab Center for Financial Research and Michelle Gibli, director of international equity research and strategy. Ladies, thanks so much for joining me. Kathy, I do want to start with you.Uh, given everything we've heard as far as the data is concerned, obviously the SCOTUS ruling on Trum ...

PayPal Holdings, Inc. (PYPL) Shareholders Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit [Accessibility Statement] Skip NavigationLOS ANGELES, Feb. 25, 2026 /PRNewswire/ -- [The Law Offices of Frank R. Cruz] announces that investors with losses related to PayPal Holdings, Inc. ("PayPal" or the "Company") (NASDAQ: [PYPL]) have opportunity to lead the securities fraud class action lawsuit.IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN PAYPAL HOLDINGS, INC. (PYPL), CLICK [HERE] BEFORE APRIL 20 ...

Passing the CFP® exam is a requirement to become a Certified Financial Planner professional. On test day, you're allowed to bring an approved battery-powered, non-programmable financial calculator with you. The CFP Board does not specify how many calculation questions are included on the exam, but you can prepare for them by familiarizing yourself with the formulas used to complete them. You'll find them listed on the CFP formula sheet, which is included in the exam candidate handbook. Are you looking to ...

Group 1 - The article discusses the nature of stock market corrections, defining a correction as a decline of 10% or more in the S&P 500 index from its recent high, with bear markets defined as declines of 20% or more [1] - Since 1974, there have been 27 instances of 10%-or-deeper corrections in the S&P 500, averaging approximately one correction every two years, although these do not occur on a fixed schedule [1] - Only six out of the 27 corrections since 1974 have devolved into bear markets, indicating that while corrections can lead to significant declines, they do not always result in prolonged downturns [1] Group 2 - The average recovery time from a 10% to 20% correction in the S&P 500 is about eight months, while bear markets typically see an average decline of 20% and recover in one to two years [1] - The article emphasizes the importance of maintaining a calm mindset during corrections, as panic selling can lead to unnecessary financial losses [1] - Investors are encouraged to view corrections as potential buying opportunities, suggesting that purchasing S&P 500 stocks during these times can be beneficial in the long run [1]

Core Insights - The article discusses the financial challenges faced by retirees, emphasizing the need for adequate savings and planning for retirement expenses, particularly in light of Social Security benefits and healthcare costs. Group 1: Retirement Savings and Planning - The typical retired worker receives approximately $24,852 annually from Social Security benefits, combined with an additional $16,000 from personal savings, totaling $40,852, which may necessitate lifestyle adjustments for many retirees [1][6] - Financial experts recommend the 4% rule for retirement savings, suggesting that retirees withdraw 4% of their savings in the first year and adjust for inflation thereafter, aiming for a sustainable income over 30 years [3][4] - A study by Northwestern Mutual indicates that many Americans believe they need around $1.26 million saved for a comfortable retirement, highlighting a significant gap for individuals like Sam, who has $400,000 saved [4][5] Group 2: Retirement Expenses - The average annual expenditure for Americans aged 65 and older was reported to be $61,432 in 2024, indicating that relying solely on $40,852 could lead to a financial shortfall unless retirees live frugally [8] - To meet the average expenditure, individuals like Sam would need approximately $914,500 saved by retirement, factoring in Social Security benefits [8] - Healthcare costs are a significant consideration, with typical expenses for a 65-year-old projected to be $172,500 throughout retirement, emphasizing the importance of planning for these costs [9] Group 3: Investment Strategies - The article suggests diversifying retirement savings through various accounts, including gold IRAs, which can provide tax benefits and protect against market volatility [11][12] - Wealthfront offers a Cash Account with a competitive APY of 4.05%, which can help retirees grow their emergency funds while maintaining easy access to cash [19][20] - Automated investment platforms like Acorns can facilitate saving and investing habits, allowing individuals to grow their wealth effortlessly [22][23] Group 4: Seeking Professional Advice - The complexity of retirement planning may necessitate consulting with financial advisors who specialize in retirement strategies, helping individuals navigate budgeting and investment decisions [24][26] - Advisor.com connects users with registered investment advisors, providing a resource for individuals seeking tailored financial guidance [25][26]

产品分层，展示收益率普遍高于定存 记者注意到，面对投资者差异化的风险偏好、资金流动性与收益目标等需求，多家理财公司在这轮营销 中并未采用"一刀切"的推销模式，而是通过不同客群分类，提供差异化的产品选择。 随着春节假期结束，各行各业迎来"开工季"，居民节后资金也进入新配置窗口，理财公司开工"第一 枪"打响。记者梳理发现，马年开工第一时间，中银理财、信银理财、工银理财、农银理财等多家理财 公司密集推出"开工理财"专题，以"马年接财""开工大吉"等主题营销抢占新年理财入口。 从年终奖、压岁钱到开工利是规划，从保守型、稳健型到进取型产品精选，理财公司正通过场景化、差 异化策略，在年初资金回流期展开新角逐。专家提醒，投资者在进行"开工理财"投资时，要将年终奖、 压岁钱等纳入家庭年度财务蓝图，先问用途后选产品，同时务必看清产品风险等级和投资方向，勿盲 从、注意分散配置。 抢滩"开工理财"入口，理财公司密集布局 马年开年伊始，理财公司竞相发力抢占市场先机。记者梳理发现，新春开工后，已有信银理财、中银理 财、工银理财、农银理财、交银理财、建信理财、平安理财、民生理财等多家理财公司在公众号推 出"开工理财"专题营销活动，形成理 ...

NEW YORK, Feb. 25, 2026 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX:OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced RFA Financial Inc. (TSX:RFA, OTCQX:RFAFF), a Canadian financial services company, has qualified to trade on the OTCQX® Best Market.RFA Financial Inc. begins trading today on OTCQX under the symbol "RFAFF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.Tradi ...

NEW YORK, Feb. 25, 2026 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced RFA Financial Inc. (TSX: RFA; OTCQX: RFAFF), a Canadian financial services company, has qualified to trade on the OTCQX® Best Market. RFA Financial Inc. begins trading today on OTCQX under the symbol “RFAFF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com. ...