Neostellar Capital Corp. (SSSS) Form 10-Q — Nov 4, 2026

$SSSSForm 10-QFiled Nov 4, 2026, 9:14 AM ET0001493152-26-049893Original filing

Neostellar Capital Corp. (NSLR, formerly SuRo Capital) filed its Q3 2026 10-Q showing net assets of $334.7M and NAV per share of $12.64, up from $8.09 at year-end 2025, driven by $148.9M in unrealized appreciation over nine months. The quarter itself was negative, with a -$21.2M change in net assets from operations (diluted EPS -$0.80) versus +$7.4M a year ago, as Q3 saw -$9.4M in unrealized depreciation and -$7.7M in realized losses. The portfolio is heavily concentrated: Whoop, Inc.

Key figures

Eps: Q3 2026 basic -$0.80; nine-month diluted $3.89 (vs $2.49 prior year)
Net Income: $115,773,881 net change in net assets resulting from operations for nine months ended 9/30/2026; -$21,158,506 for Q3 2026
Total Debt: $84,365,045 total liabilities; incl. $35,780,225 face 6.00% Notes due 2026, $27,000,000 face 6.50% Convertible Notes due 2029, $20,000,000 face 6.50% Redeemable Promissory Note due 2029
Cash Position: $40,853,490 cash and restricted cash at 9/30/2026
Shares Outstanding: 26473222
Net assets: $334,698,480 at 9/30/2026
Nav per share: $12.64 at 9/30/2026 vs $8.09 at 12/31/2025
Whoop position: $143,326,796 fair value, 42.82% of net assets, $11,013,088 cost
Non qualifying assets: 35.25% of total investments
Q3 net investment loss: -$4,031,135
Q3 unrealized depreciation: -$9,378,815
Interest expense nine months: $3,707,459
Total investments fair value: $377,196,404 (112.7% of net assets)

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