Key Highlights

  • Total Investment income was USD 49.3 million, compared with USD 57.0 million in the third quarter of 2025.
  • Net investment income was USD 17.8 million, and net increase in net Assets from operations was USD 7.6 million.
  • Net asset value per share was USD 17.83 at September 30, 2026, compared with USD 18.26 at December 31, 2025.
  • Net change in unrealized gain and loss on investments was a loss of USD 10.5 million for the quarter.

Investment Income and Net Investment Income

SLR Investment Corp. (NASDAQ:SLRC), a business development company, filed its Quarterly Report for the period ended September 30, 2026. Total investment income was USD 49.3 million, down from USD 57.0 million in the third quarter of 2025. Interest income from companies less than 5% owned was USD 27.2 million versus USD 31.7 million, and Dividend income from companies more than 25% owned was USD 13.9 million versus USD 16.2 million.

Total expenses were USD 31.5 million versus USD 35.4 million. Within that, management fees were USD 7.8 million versus USD 8.0 million, performance-based incentive fees were USD 3.8 million versus USD 5.4 million, and interest and other Credit Facility expenses were USD 17.3 million versus USD 18.7 million. Net investment income was USD 17.8 million, compared with USD 21.6 million a year earlier.

For the nine months, total investment income was USD 147.4 million versus USD 164.1 million, and net investment income was USD 53.4 million versus USD 65.3 million. Net investment income per share was USD 0.98 for the nine months, against USD 1.20 in the prior-year period.

Analyst estimates were EPS of USD 0.33 against reported EPS of USD 0.33, and Revenue of USD 48.9 million against reported revenue of USD 49.3 million.

Unrealized Losses and Earnings

The net change in unrealized gain and loss on investments and cash equivalents was a loss of USD 10.5 million for the quarter, compared with a gain of USD 0.4 million a year earlier. The company attributes the quarterly loss primarily to Depreciation in its investments in OmniGuide Holdings and RQM+ Corp., among others, and to the Reversal of previously recognized unrealized appreciation upon the exit of its investment in Enhanced Permanent Capital. Appreciation in SLR Business Credit, SLR-AMI Topco Blocker and SLR Equipment Finance partially offset these items.

The net increase in net assets resulting from operations was USD 7.6 million, or USD 0.14 per share, compared with USD 23.3 million, or USD 0.43 per share, in the third quarter of 2025. For the nine months, the net increase was USD 33.0 million, or USD 0.60 per share, versus USD 67.5 million, or USD 1.24 per share.

Net Assets, Debt and Distributions

Total net assets were USD 972.8 million at September 30, 2026, compared with USD 996.0 million at December 31, 2025, and net asset value per share was USD 17.83 versus USD 18.26. Per share Market Value at the end of the period was USD 11.59, compared with USD 15.29 at the end of September 2025. Total assets were USD 2.56 billion, and cash was USD 39.8 million.

Debt had a face amount of USD 1.11 billion, compared with USD 1.15 billion at the end of 2025. Borrowings under the credit facility were USD 503.8 million, made up of USD 360.5 million of revolving credit and USD 143.3 million of term loans.

Net distributions to stockholders were USD 16.9 million in the quarter, all from net investment income, compared with USD 22.4 million a year earlier. For the nine months, distributions were USD 0.98 per share from distributable Earnings and USD 0.05 per share from return of capital.

Items to Follow

Items to follow are net asset value per share, the performance of the portfolio companies named in the unrealized loss, credit facility borrowings and the level of distributions.