Core Insights - Virtus Investment Partners reported a decline in revenues and net income for the third quarter of 2025 compared to the same period in 2024, with revenues at $216.4 million, down 5%, and net income at $31.9 million, down 22% [2][9]. Financial Performance - Revenues for Q3 2025 were $216.4 million, compared to $227.0 million in Q3 2024, reflecting a 5% decrease, but a 3% increase from $210.5 million in Q2 2025 [2]. - Operating expenses decreased by 1% to $169.3 million from $171.8 million in Q3 2024, and increased by 2% from $165.3 million in Q2 2025 [2]. - Operating income was $47.1 million, down 15% from $55.3 million in Q3 2024, but up 4% from $45.2 million in Q2 2025 [2]. - The operating margin decreased to 21.7% from 24.3% in Q3 2024 [2]. Earnings Per Share - Diluted earnings per share were $4.65, down 19% from $5.71 in Q3 2024 and down 24% from $6.12 in Q2 2025 [2][9]. - Adjusted diluted earnings per share were $6.69, a decrease of 3% from $6.92 in Q3 2024 [11][13]. Assets Under Management - Total assets under management (AUM) were $169.3 billion as of September 30, 2025, down 8% from $183.7 billion in Q3 2024 and down 1% from $170.7 billion in Q2 2025 [4]. - Average total AUM for Q3 2025 was $170.3 billion, a decrease of 3% from $176.0 billion in Q3 2024 [4]. Sales and Flows - Total sales for the quarter were $6.3 billion, a 12% increase from $5.6 billion in Q2 2025 [5]. - Net flows were negative at $(3.9) billion, unchanged from the prior quarter, with institutional net flows at $(1.5) billion and retail separate account net flows at $(1.2) billion [6]. Balance Sheet and Cash Flow - Cash and cash equivalents increased by 90% to $370.6 million from $195.5 million in Q3 2024 [15]. - Gross debt rose by 65% to $400.0 million from $241.8 million in Q3 2024 [15]. - Working capital doubled to $288.4 million from $144.0 million in Q2 2025, primarily due to proceeds from debt refinancing [16]. Dividend - The company increased its quarterly dividend by 7% to $2.40 per share [16].

Group 1 - Oxford Lane Capital Corp. will hold a conference call to discuss its second fiscal quarter earnings on November 3, 2025, at 9:00 AM ET [1] - The toll-free dial-in number for the conference call is 1-833-470-1428, with an access code of 717829 [1] - A recorded replay of the call will be available for 30 days after the call, accessible at 1-866-813-9403 with a replay pass-code of 343826 [1] Group 2 - Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company [2] - The company primarily invests in debt and equity tranches of collateralized loan obligation (CLO) vehicles [2] - CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans for CLO vehicles [2]

Core Viewpoint - Pearl Diver Credit Company Inc. reported solid financial results for the second quarter of 2025, maintaining net asset value per share and leveraging a machine learning approach to CLO equity investing to enhance portfolio returns [2][5]. Financial Performance - Net asset value per share was $18.19 as of June 30, 2025, down from $18.33 as of March 31, 2025 [5]. - GAAP net income for the quarter was $3.5 million, or $0.52 per share [5]. - Net investment income for the quarter was $3.1 million, or $0.46 per share [5]. - Investment income for the quarter totaled $5.5 million, or $0.81 per share [5]. - Total expenses for the quarter were $2.4 million, or $0.35 per share [5]. - The net change in unrealized appreciation on investments was $0.5 million, or $0.07 per share, compared to unrealized depreciation of $9.6 million, or $1.41 per share, in the previous quarter [5]. - Recurring cash flows from CLO investments for the quarter were $8.0 million, or $1.18 per share [5]. Portfolio and Investment Strategy - The Company had leverage of $40.4 million, representing 24.3% of total assets as of June 30, 2025, compared to 23.2% as of March 31, 2025 [5]. - The weighted average effective yield of the CLO portfolio was 12.75%, down from 15.57% as of March 31, 2025, due to market-wide loan spread compression [5]. - 95% of CLOs in the portfolio have reinvestment end dates from 2026 through 2030, indicating potential for favorable reinvestment opportunities [5]. - The Company had indirect exposure to approximately 1,285 unique corporate obligors and over 1,800 underlying loans, totaling $24.4 billion [5]. - The largest look-through obligor represented 0.7% of the loans in the CLO equity portfolio, while the top ten largest obligors represented 4.7% [5]. Dividends and Future Outlook - Net asset value per share increased to $18.48 as of July 31, 2025, a 1.6% increase from June 30, 2025 [5]. - The Company declared monthly dividends of $0.22 per share for August, September, and October 2025 [5].

Financial Performance - Net investment income for the quarter ended March 31, 2025, was $343 million, or $037 per share[9] - Net realized and change in unrealized gains (losses) on investments for the quarter ended March 31, 2025, were $(40) million, or $(005) per share[9] - Net asset value per share as of the end of the quarter was $1493, a decrease of 03% compared to December 31, 2024[9] Investment Activity - New investment commitments made during the quarter totaled $376 million across 36 companies for an average new commitment of $104 million[9] - Gross fundings for the quarter, excluding revolver fundings, totaled $357 million[9] - Net fundings, including revolvers, totaled $170 million for the quarter[9] - Repurchased 476,656 shares of common stock at a weighted average price per share of $1275, inclusive of commissions, for an aggregate cost of $61 million during the quarter[9] - Completed a $5296 million CLO transaction, MFIC Bethesda CLO 2 LLC, in February 2025[9] Portfolio Composition - The total investment portfolio was $319 billion, spread across 240 portfolio companies and 49 industries[10] - Direct Origination and Other investments represent 92% of the total portfolio[10] - Non-Accrual investments account for 09% of the total portfolio[10] - The direct origination portfolio has a weighted average yield of 107%[10]

Group 1 - Oxford Lane Capital Corp. will hold a conference call to discuss its fourth fiscal quarter earnings on May 19, 2025, at 9:00 AM ET [1] - The toll-free dial-in number for the conference call is 1-833-470-1428, with an access code of 818188 [1] - A recorded replay of the call will be available for 30 days after the call, accessible at 1-866-813-9403 with a replay passcode of 138532 [1] Group 2 - Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company [2] - The company primarily invests in debt and equity tranches of collateralized loan obligation (CLO) vehicles [2] - CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans for CLO vehicles [2]

Core Viewpoint - PennantPark Floating Rate Capital Ltd. has successfully closed a $301 million debt securitization through its subsidiary, demonstrating resilience in challenging capital market conditions and achieving historically low AAA pricing [1][3]. Group 1: Debt Securitization Details - The debt securitization consists of a four-year reinvestment period and a twelve-year final maturity [1]. - The total amount of debt issued is $301 million, structured into various classes with different amounts and expected ratings [2]. - The proceeds from the debt will be used to repay a portion of PSSL's $325 million secured credit facility [3]. Group 2: Company Performance and Strategy - The company manages approximately $4.0 billion in CLO middle market assets and aims for continued growth with support from current and new investors [3]. - PSSL will retain all Subordinated Notes through a consolidated subsidiary, maintaining exposure to the performance of the securitized assets [3]. - The term debt securitization is expected to be approximately 100% funded at close [3]. Group 3: Company Background - PennantPark Floating Rate Capital Ltd. primarily invests in U.S. middle-market private companies through floating rate senior secured loans [5]. - The company is managed by PennantPark Investment Advisers, LLC, which has approximately $10 billion of investable capital [6].