Oxford Square Capital Corp

Oxford Square Capital Corp. delivered a mixed third quarter, posting earnings per share of $0.07 and total investment income of $10.24 million, up 24.5% year over year, as the business development company continued to expand its portfolio and leverage profile. Yet the headline revenue growth masked a more difficult quarter beneath the surface, with net asset value per share sliding to $1.95 from $2.06 at the end of Q2 2025, a deterioration driven primarily by approximately $7.50 million in net unrealized depreciation across the investment portfolio. That NAV erosion, combined with a negative 24.74% market value total return as shares fell from $2.23 to $1.59, framed a quarter defined as much by portfolio markdowns as by income generation. On the positive side, CLO equity effective yields improved to 9.7% from 8.8%, and the company actively deployed approximately $58.10 million in new investments. Post-quarter, the Board authorized a $25.00 million share repurchase program and declared monthly distributions of $0.04 per share through March 2026.