Oxford Square Capital (OXSQ)

Market Price (11/6/2026): $0.839 | Market Cap: $101.7 MilSector: Financials | Industry: Asset Management & Custody Banks

Oxford Square Capital (OXSQ)

Market Price (11/6/2026): $0.839
Market Cap: $101.7 Mil
Sector: Financials
Industry: Asset Management & Custody Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6%, Dividend Yield is 41%

Low stock price volatility
Vol 12M is 47%

Megatrend and thematic drivers
Megatrends include Digital & Alternative Assets. Themes include Private Credit, and Private Equity.

Weak multi-year price returns
2Y Excs Rtn is -91%, 3Y Excs Rtn is -132%

Penny stock
Mkt Price is 0.8

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is -29 Mil

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 116%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1701%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -278%

Key risks
OXSQ key risks include [1] a high-risk portfolio concentrated in CLO equity and the software sector, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6%, Dividend Yield is 41%
1	Low stock price volatility Vol 12M is 47%
2	Megatrend and thematic drivers Megatrends include Digital & Alternative Assets. Themes include Private Credit, and Private Equity.
3	Weak multi-year price returns 2Y Excs Rtn is -91%, 3Y Excs Rtn is -132%
4	Penny stock Mkt Price is 0.8
5	Very low revenue Rev LTMTotal Revenue or Sales, Last Twelve Months is -29 Mil
6	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 116%
7	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1701%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -278%
8	Key risks OXSQ key risks include [1] a high-risk portfolio concentrated in CLO equity and the software sector, Show more.

Valuation & Metrics

FYE: 12/31	Forward FYE		Now	Historical (CYE & TTM)
	2027	2026	11/6/26	2025	2024	2023	2022
Share Price			$0.84	$1.76	$2.44	$2.86	$3.12
Mkt Cap ($ Mil)			101.7	146.1	167.7	167.1	155.4
+ Debt ($ Mil)			152.3	151.6	123.6	123.0	186.3
- Cash ($ Mil)			43.5	51.9	34.9	5.7	9.0
TEV ($ Mil)			210.6	297.7	291.3	290.1	341.7
Valuation Ratios
P/S	2.4	2.7	-	-	16.8	7.3	-
P/EBIT	5.3	5.8	-	-	-	-	-
P/E	6.7	7.4	-2.8	-7.8	28.5	9.7	-1.8
P/FCF	—	—	-3.5	-10.6	6.5	2.6	7.6
Sector Ratios (* = sector average)
P/S *			3.3	3.2	3.1	2.5	2.8
P/EBIT *			6.6	7.9	8.5	7.8	6.9
P/E *			11.5	11.2	11.9	9.6	9.4
P/FCF *			8.7	8.8	8.9	7.2	6.4

FYE: 12/31	Forward FYE		Now
	2027	2026	11/6/26
Share Price			$0.84
Mkt Cap ($ Mil)			101.7
+ Debt ($ Mil)			152.3
- Cash ($ Mil)			43.5
TEV ($ Mil)			210.6
Valuation Ratios
P/S	2.4	2.7	-
P/EBIT	5.3	5.8	-
P/E	6.7	7.4	-2.8
P/FCF	—	—	-3.5
Sector Ratios (* = sector average)
P/S *			3.3
P/EBIT *			6.6
P/E *			11.5
P/FCF *			8.7

FYE: 12/31	OXSQ [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$-29.0 Mil	—
FY 2026 Sales	$37.9 Mil	—
FY 2027 Sales	$41.6 Mil	—
FY 2026 Sales Growth	—	—
FY 2027 Sales Growth	9.6%	8.7%
EARNINGS
LTM Net Income (GAAP) [3]	$-32.9 Mil	—
FY 2026 Net Income (Non-GAAP)	$13.8 Mil	—
FY 2027 Net Income (Non-GAAP)	$15.3 Mil	—
FY 2027 Net Income Growth	11.1%	13.9%
FY 2026 EPS (Non-GAAP)	$0.18	—
FY 2027 EPS (Non-GAAP)	$0.20	—
FY 2027 EPS Growth	11.1%	—
VALUATION
FY 2026 P/S	2.7	1.7
FY 2027 P/S	2.4	—
FY 2026 P/E	7.4	8.7
FY 2027 P/E	6.7	—

[1] OXSQ forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 11/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

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Metric	Value	Date	Source
Weighted average yield of debt investments at current cost	14.6%	9302025	Link
Weighted average effective yield of CLO equity investments at current cost	9.7%	9302025	Link
Weighted average cash distribution yield of cash income producing CLO equity investments at current cost	14.3%	9302025	Link
Weighted average credit rating of portfolio	2.2	9302025	Link
Number of portfolio companies with preferred equity investments on non-accrual status	1	9302025	Link
New investments	$58.1 million	9302025	Link
Sales and Repayments	$31.3 million	9302025	Link
Portfolio composition - First-lien secured debt	50%	9302025	Link
Portfolio composition - Second-lien secured debt	11%	9302025	Link
Portfolio composition - CLO equity	37%	9302025	Link

Price Chart

Upcoming
11/16/2026	Dividend	Amount: $0.04 Payment On: 11/30/2026
12/17/2026	Dividend	Amount: $0.04 Payment On: 12/31/2026
1/15/2027	Dividend	Amount: $0.01 Payment On: 1/29/2027
2/12/2027	Dividend	Amount: $0.01 Payment On: 2/26/2027

Why The Stock Moved

Qualitative Assessment

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Updated on 11/5/2026

Oxford Square Capital (OXSQ) stock has lost about 40% since 7/31/2026 because of the following key factors:

1. Significant Dividend Reduction. Oxford Square Capital announced a substantial 57.1% reduction in its future monthly distributions, cutting the payout from $0.035 per share to $0.015 per share for the months of January, February, and March 2027. This decision, declared on October 28, 2026, reflects management's efforts to align distributions with the fund's projected earnings power and support continued deleveraging, which negatively impacted investor confidence.

2. Deterioration of Net Asset Value (NAV) and Realized Investment Losses. The company experienced a decline in its Net Asset Value (NAV) per share to $1.21 as of September 30, 2026, a 6.2% decrease from $1.29 at June 30, 2026, and a 38.0% decline from the end of fiscal year 2025. This was significantly driven by $11.3 million in net realized losses on investments during fiscal Q3 2026, primarily resulting from two CLO equity positions reaching their termination points.

3. Persistent Net Investment Income (NII) Coverage Gap and Share Dilution. Oxford Square Capital's net investment income (NII) for fiscal Q3 2026 was approximately $0.04 per share, which was insufficient to cover its prior monthly dividend payouts of $0.035 per share (totaling $0.105 per quarter). This ongoing NII coverage gap, combined with the issuance of approximately 14.1 million new shares through an at-the-market offering in fiscal Q3 2026, which generated net proceeds of $19.4 million, diluted existing shareholders and put further pressure on per-share earnings.

4. Challenging Leveraged Loan Market Conditions. Broader macroeconomic factors, including an elevated default rate of 2.97% (up from 2.77% in fiscal Q2 2026) and an increased distress ratio of 7.05% (representing loans priced below 80% of par, up from 6.87% in fiscal Q2 2026) within the U.S. leveraged loan market, contributed to the underperformance of OXSQ's investment portfolio and its overall negative trend.

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Stock Movement Drivers

Fundamental Drivers

The -41.5% change in OXSQ stock from 7/31/2026 to 11/5/2026 was primarily driven by a -20.7% change in the company's Shares Outstanding (Mil).

(LTM values as of)	7312026	11052026	Change
Stock Price ($)	1.44	0.84	-41.5%
Change Contribution By:
Total Revenues ($ Mil)	-32	-29	-8.4%
P/S Multiple	-4.0	-3.2	-19.6%
Shares Outstanding (Mil)	88	111	-20.7%
Cumulative Contribution			-41.5%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/5/2026

	Return	Correlation
OXSQ	-41.5%
Market (SPY)	-1.9%	19.8%
Sector (XLF)	1.0%	17.2%

Fundamental Drivers

The -49.7% change in OXSQ stock from 4/30/2026 to 11/5/2026 was primarily driven by a -66.9% change in the company's P/S Multiple.

(LTM values as of)	4302026	11052026	Change
Stock Price ($)	1.67	0.84	-49.7%
Change Contribution By:
Total Revenues ($ Mil)	-14	-29	103.8%
P/S Multiple	-9.7	-3.2	-66.9%
Shares Outstanding (Mil)	83	111	-25.4%
Cumulative Contribution			-49.7%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/5/2026

	Return	Correlation
OXSQ	-49.7%
Market (SPY)	2.3%	22.6%
Sector (XLF)	10.7%	11.6%

Fundamental Drivers

The -42.8% change in OXSQ stock from 10/31/2025 to 11/5/2026 was primarily driven by a -1084.2% change in the company's Total Revenues ($ Mil).

(LTM values as of)	10312025	11052026	Change
Stock Price ($)	1.47	0.84	-42.8%
Change Contribution By:
Total Revenues ($ Mil)	3	-29	-1084.2%
P/S Multiple	36.4	-3.2	-108.8%
Shares Outstanding (Mil)	73	111	-34.2%
Cumulative Contribution			-42.8%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/5/2026

	Return	Correlation
OXSQ	-42.8%
Market (SPY)	8.4%	25.0%
Sector (XLF)	11.1%	15.6%

Fundamental Drivers

The -48.7% change in OXSQ stock from 10/31/2023 to 11/5/2026 was primarily driven by a -54.9% change in the company's P/S Multiple.

(LTM values as of)	10312023	11052026	Change
Stock Price ($)	1.64	0.84	-48.7%
Change Contribution By:
Total Revenues ($ Mil)	-12	-29	150.6%
P/S Multiple	-7.1	-3.2	-54.9%
Shares Outstanding (Mil)	51	111	-54.6%
Cumulative Contribution			-48.7%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/5/2026

	Return	Correlation
OXSQ	-48.7%
Market (SPY)	81.3%	25.4%
Sector (XLF)	85.5%	20.8%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
OXSQ Return	47%	-14%	11%	-2%	-13%	-40%	-29%
Peers Return	14%	-18%	16%	9%	8%	-15%	9%
S&P 500 Return	27%	-19%	24%	23%	16%	12%	105%
Monthly Win Rates [3]
OXSQ Win Rate	58%	67%	42%	50%	33%	45%
Peers Win Rate	50%	33%	58%	56%	52%	40%
S&P 500 Win Rate	75%	42%	67%	75%	67%	45%
Max Drawdowns [4]
OXSQ Max Drawdown	-22%	-30%	-23%	-19%	-38%	-50%
Peers Max Drawdown	-24%	-39%	-23%	-16%	-25%	-27%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTS, SLRC, GEG, RVII, BLK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/5/2026 (YTD)

Event	OXSQ	S&P 500
2023 SVB Regional Banking Crisis
% Loss	-22.0%	-6.7%
% Gain to Breakeven	28.3%	7.1%
Time to Breakeven	112 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-25.8%	-24.5%
% Gain to Breakeven	34.7%	32.4%
Time to Breakeven	490 days	427 days
2020 COVID-19 Crash
% Loss	-65.5%	-33.7%
% Gain to Breakeven	190.1%	50.9%
Time to Breakeven	386 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-14.2%	-19.2%
% Gain to Breakeven	16.6%	23.8%
Time to Breakeven	59 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-27.7%	-12.2%
% Gain to Breakeven	38.4%	13.9%
Time to Breakeven	175 days	62 days
2014-2016 Oil Price Collapse
% Loss	-43.0%	-6.8%
% Gain to Breakeven	75.3%	7.3%
Time to Breakeven	319 days	15 days

Compare to VRTS, SLRC, GEG, FGC, RVII

In The Past

Oxford Square Capital's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	OXSQ	S&P 500
2023 SVB Regional Banking Crisis
% Loss	-22.0%	-6.7%
% Gain to Breakeven	28.3%	7.1%
Time to Breakeven	112 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-25.8%	-24.5%
% Gain to Breakeven	34.7%	32.4%
Time to Breakeven	490 days	427 days
2020 COVID-19 Crash
% Loss	-65.5%	-33.7%
% Gain to Breakeven	190.1%	50.9%
Time to Breakeven	386 days	140 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-27.7%	-12.2%
% Gain to Breakeven	38.4%	13.9%
Time to Breakeven	175 days	62 days
2014-2016 Oil Price Collapse
% Loss	-43.0%	-6.8%
% Gain to Breakeven	75.3%	7.3%
Time to Breakeven	319 days	15 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-21.1%	-17.9%
% Gain to Breakeven	26.7%	21.8%
Time to Breakeven	101 days	123 days
2008-2009 Global Financial Crisis
% Loss	-65.7%	-53.4%
% Gain to Breakeven	191.4%	114.4%
Time to Breakeven	367 days	1085 days
Summer 2007 Credit Crunch
% Loss	-24.4%	-8.6%
% Gain to Breakeven	32.3%	9.5%
Time to Breakeven	1132 days	47 days

Compare to VRTS, SLRC, GEG, FGC, RVII

In The Past

Oxford Square Capital's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Oxford Square Capital (OXSQ)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Oxford Square Capital Corp. (OXSQ) operates as a business development company (BDC) and a private equity and mezzanine firm. Its core business involves investing capital in both public and private companies, functioning as a direct lender and equity investor. OXSQ generates returns by providing various forms of financing, which include secured and unsecured senior debt, subordinated debt, junior subordinated debt, preferred stock, common stock, and syndicated bank loans.

The firm primarily targets technology-related companies across a wide array of sectors such as computer software, internet, information technology infrastructure and services, media, telecommunications, semiconductors, and medical device technology. OXSQ focuses on smaller companies, typically those with annual revenues under $200 million or a market capitalization/enterprise value below $300 million. It typically invests between $5 million and $30 million per transaction, with a strategic goal to exit its investments within seven years.

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Here are 1-2 brief analogies for Oxford Square Capital (OXSQ):

It's like a publicly traded KKR or Blackstone, but exclusively focused on providing both debt and equity capital to smaller, emerging technology companies.
Imagine a niche version of Goldman Sachs that focuses solely on providing a mix of loans and equity investments to promising small technology companies, and whose shares you can buy on the stock market.

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Debt Investments: The company provides various forms of debt financing, including secured and unsecured senior debt, subordinated debt, junior subordinated debt, and syndicated bank loans, to its portfolio companies.
Equity Investments: It invests in the ownership stakes of companies through preferred stock and common stock.
Investment Advisory Services: The firm offers investment management and advisory expertise, specifically serving as the investment adviser to TICC.

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Oxford Square Capital (OXSQ) operates as a business development company (BDC) that provides debt and/or equity financing to other companies. Therefore, its "customers" are the companies in which it invests.

Based on the provided description, specific names of these customer companies are not listed. However, the background describes the characteristics and categories of companies that OXSQ primarily invests in:

Companies that operate in the technology-related sectors, including:
- Computer software
- Internet
- Information technology infrastructure and services
- Media
- Telecommunications and telecommunications equipment
- Semiconductors
- Hardware
- Technology-enabled services
- Semiconductor capital equipment
- Medical device technology
- Diversified technology
- Networking systems
Companies typically having annual revenues of less than $200 million.
Companies with a market capitalization or enterprise value of less than $300 million.
Both public and private companies.

OXSQ also serves as the investment adviser to TICC.

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Jonathan H. Cohen, Chief Executive Officer
Mr. Cohen has served as Chief Executive Officer and Director of Oxford Square Capital Corp. since 2003. He also holds the position of CEO and Director for Oxford Lane Capital Corp. since 2010, Oxford Park Income Fund, Inc. since 2023, and Oxford Gate Management, LLC since 2018. Mr. Cohen co-founded Oxford Bridge Management in June 2010. His prior experience includes managing technology research groups at prominent firms such as Wit SoundView, Merrill Lynch & Co., UBS Securities, and Salomon Smith Barney, accumulating over 15 years of experience in technology-related equity research. Saul B. Rosenthal, President
Mr. Rosenthal has been the President of Oxford Square Capital Corp. and Oxford Square Management since 2004. He is also the President of Oxford Lane Capital Corp. and Oxford Lane Management since 2010. Furthermore, he serves as President & Director of Oxford Park Income Fund, Inc. since 2023 and President of Oxford Gate Management, LLC since 2018. Mr. Rosenthal was previously an attorney at the law firm of Shearman & Sterling LLP and served as Vice President at Wit Capital Corp. He is also the founder of Oxford Lane Management LLC, established in 2010. Bruce L. Rubin, Chief Financial Officer
Mr. Rubin has held the roles of Chief Financial Officer, Chief Accounting Officer, and Corporate Secretary of Oxford Square Capital Corp. since August 2015, having previously served as Controller from 2005 to 2015 and Treasurer since 2009. He concurrently holds the same Chief Financial Officer position at Oxford Lane Capital Corp. His extensive financial background includes serving as the former Assistant Treasurer & Director of Financial Planning of the New York Mercantile Exchange, Inc., and as a manager in financial operations for the American Stock Exchange from 1989 to 1995. Mr. Rubin began his career as an auditor in commercial banking. Kevin P. Yonon, Managing Director, Portfolio Manager
Mr. Yonon is a Managing Director and Portfolio Manager of Oxford Funds, LLC, where he has been managing the firm's loan portfolio since 2016. His prior experience includes serving as an Associate at Deutsche Bank Securities and an Analyst at Blackstone Mezzanine Partners. Before his time at Blackstone, he worked as an Analyst in the Mergers & Acquisitions group at Merrill Lynch. Vincent Gurrera, Controller and Vice President, Finance
Mr. Gurrera serves as the Controller and Vice President, Finance of Oxford Square Capital Corp., and holds the same positions at Oxford Lane Capital Corp. Previously, he was an Accountant at Ellington Management Group, LLC, a hedge fund specializing in asset-backed securities. From 2002 to 2006, Mr. Gurrera worked as a Senior Auditor at Ernst & Young LLP, where his focus included hedge funds, broker-dealers, and private equity institutions.

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Key Risks to Oxford Square Capital (OXSQ)

Credit and Default Risk of Portfolio Companies: As a business development company, Oxford Square Capital Corp. invests in debt and equity securities of primarily smaller, technology-related companies. These companies often have limited operating histories, are more susceptible to adverse business conditions, and may have higher leverage, increasing the risk that they could default on their debt obligations or that the value of OXSQ's equity investments could decline significantly. The ability of OXSQ to generate returns is directly tied to the financial health and performance of its portfolio companies.
Concentration Risk in the Technology Sector: Oxford Square Capital Corp. concentrates its investments in a wide array of technology-related companies. While this provides some diversification within the sector, a significant downturn, increased competition, or adverse regulatory changes specifically impacting the broader technology industry could disproportionately affect the performance and valuation of a large portion of OXSQ's investment portfolio, leading to reduced returns or losses.
Interest Rate Risk: Given that Oxford Square Capital Corp. invests in various forms of debt, including secured and unsecured senior debt, subordinated debt, and syndicated bank loans, its profitability is exposed to fluctuations in interest rates. Rising interest rates could increase the cost of OXSQ's own borrowings (if it uses leverage), while also potentially increasing the default risk for portfolio companies that have floating-rate debt, as their debt service costs would rise. Conversely, a decline in interest rates could reduce the income generated from new debt investments or from existing floating-rate investments.

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For Oxford Square Capital (OXSQ), expected drivers of future revenue growth over the next 2-3 years include:

Strategic Management and Growth of the Collateralized Loan Obligation (CLO) Equity and Debt Portfolio: Oxford Square Capital's revenue is highly concentrated in interest from corporate debt and distributions from its CLO equity and debt portfolio. Effective management and growth of this core portfolio are crucial for future revenue generation.
Increased Investments in Secondary Market Leveraged Loans: The company plans to increasingly focus on investing in secondary market leveraged loans. This strategic emphasis aims to capitalize on opportunities within this specific segment of the credit market to drive revenue growth.
Continued Capital Deployment and Opportunistic Investing: Oxford Square Capital regularly deploys capital into new investments, such as the $18 million in new investments made in Q4 2025 and $58.1 million in Q3 2025. This ongoing investment activity, particularly in opportunistic secondary loan positions and first-lien B2B loans, is expected to contribute to future revenue as the company leverages its permanent capital structure to take a long-term view and capitalize on market dislocations.
Optimization and Rotation of the Existing CLO Equity Portfolio: While Oxford Square Capital has reached its maximum capacity for new CLO equity additions, optimizing and rotating its existing CLO equity portfolio is a key strategy. This involves actively managing current holdings to maximize distributions and effective yields.

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Share Repurchases

On October 30, 2025, Oxford Square Capital Corp. authorized a 12-month share repurchase program to buy back up to $25.0 million of its outstanding common stock in the open market.
The share repurchase program is expected to be in effect until October 30, 2026.

Share Issuance

For the year ended December 31, 2025, Oxford Square Capital Corp. raised approximately $34.8 million of net capital by selling 15,910,780 common shares through an at-the-market program.
During the third quarter of 2025, the company issued approximately 5.4 million shares of common stock through an at-the-market offering, resulting in net proceeds of approximately $11.8 million.
During the fourth quarter of 2025, approximately 4.3 million shares of common stock were issued via an at-the-market offering, generating net proceeds of approximately $7.9 million.

Outbound Investments

For the year ended December 31, 2025, Oxford Square Capital Corp. purchased approximately $92.1 million of new investments.
During the third quarter of 2025, the company's investment activity included purchases of approximately $58.1 million and repayments of approximately $31.3 million.
In the fourth quarter of 2025, investment activity consisted of purchases totaling approximately $18.0 million and repayments of approximately $7.4 million.

Interactive Breakdown

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Better Bets vs. Oxford Square Capital (OXSQ)

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Peer Outperformance in Asset Management & Custody Banks

OXSQ has trailed 84% of its 82 Asset Management & Custody Banks peers over 5Y. Asset Management & Custody Banks ranks 11th of 18 industries in Financials by median 5Y return. The sector’s gains have largely come from elsewhere.

Share of Asset Management & Custody Banks constituents that OXSQ has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.

11%

of 100 industry peers · -43.4% return

11%

of 90 industry peers · -50.1% return

16%

of 82 industry peers · -53.9% return

No Asset Management & Custody Banks peer with a comparable growth profile has beaten OXSQ by more than 20pp over 5Y.

Median price return by industry across the Financials sector, ranked by 5Y. Asset Management & Custody Banks is OXSQ's own industry. Use this to see which corners of the sector have carried the returns.

Industry	Names	1Y med	3Y med	5Y med	Top 3 by 5Y
Reinsurance	6	33.1%	75.7%	125.1%	SPNT 168% · RGA 162% · RNR 141%
Investment Banking & Brokerage	13	-3.9%	89.1%	93.1%	IBKR 305% · SNEX 152% · GS 141%
Diversified Banks	12	30.0%	140.4%	90.3%	CM 144% · RY 129% · JPM 127%
Life & Health Insurance	20	14.3%	52.3%	75.4%	JXN 514% · UNM 224% · FG 188%
Property & Casualty Insurance	42	18.9%	76.8%	66.8%	TRV 178% · PGR 172% · ACGL 168%
Multi-Sector Holdings	3	10.1%	53.8%	59.4%	BRK-B 99% · VOYA 59% · JEF 37%
Multi-line Insurance	9	9.5%	71.4%	59.4%	AIZ 105% · GNW 104% · L 98%
Regional Banks	263	30.0%	87.5%	46.7%	CBC 268% · FCNCA 176% · NIC 136%
Insurance Brokers	15	5.5%	13.4%	33.4%	LIFE 287% · ARX 89% · WTW 56%
Financial Exchanges & Data	15	20.6%	37.2%	27.9%	CBOE 183% · VIRT 131% · CME 71%
Asset Management & Custody Banks ←	83	-5.9%	22.8%	12.3%	VCTR 210% · AAMI 207% · WT 205%
Consumer Finance	30	2.9%	81.0%	8.1%	ENVA 330% · FCFS 130% · ECPG 111%
Commercial & Residential Mortgage Finance	14	-46.5%	36.8%	2.5%	FNMA 327% · FMCC 293% · ACT 158%
Diversified Financial Services	4	-1.6%	20.1%	-1.1%	FRHC 153% · EQH 71%
Specialized Finance	3	15.8%	31.5%	-19.7%	HASI -20% · CACC -24%
Transaction & Payment Processing Services	17	19.3%	9.1%	-29.4%	V 103% · MA 94% · CPAY 83%
Mortgage REITs	35	-18.0%	-6.1%	-37.2%	RITM 36% · DX 17% · AGNC 10%
Diversified Capital Markets	20	-47.1%	-8.5%	-70.1%	LPLA 83% · TW 38% · RIOT -53%

Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	How Low Can Oxford Square Capital Stock Really Go?	10/17/2025

	Title
0	ARTICLES

Trade Ideas

Select ideas related to OXSQ.

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Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
APP	AppLovin	119.6	31.0%	-47.2%
DNUT	Krispy Kreme	0.8	30.7%	14.4%
ECPG	Encore Capital	2.7	26.3%	132.1%
ADMA	ADMA Biologics	3.0	26.0%	-27.6%
XERS	Xeris Biopharma	2.3	25.0%	66.6%
WRBY	Warby Parker	3.2	22.5%	19.7%
ARDT	Ardent Health	2.3	22.4%	80.1%
MGNI	Magnite	3.9	20.8%	69.6%
EPAM	EPAM Systems	8.6	20.6%	-19.1%
ONT	Onterris	0.7	20.4%	-21.8%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MNTN	MNTN	0.3	-54.7%	-60.6%
VCYT	Veracyte	1.9	-54.3%	-43.0%
PCT	PureCycle Technologies	0.3	-32.6%	-78.1%
ACDC	ProFrac	0.5	-31.7%	-30.3%
TRIP	Tripadvisor	0.9	-27.6%	-49.3%
ROCK	Gibraltar Industries	0.9	-27.3%	-35.9%
FSLY	Fastly	2.4	-26.9%	51.1%
TROX	Tronox	0.4	-26.5%	-36.1%
MEI	Methode Electronics	0.4	-23.4%	56.2%
PENG	Penguin Solutions	2.1	-23.0%	90.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
ULH	Universal Logistics	0.8	69.2%	97.6%
CRCT	Cricut	1.9	49.7%	95.1%
ARRY	Array Technologies	0.8	48.9%	-42.5%
DNUT	Krispy Kreme	0.8	43.7%	14.4%
GDYN	Grid Dynamics	1.1	42.6%	49.9%
APP	AppLovin	119.6	39.7%	-47.2%
EVER	EverQuote	1.1	33.0%	12.3%
AGL	Agilon Health	1.9	32.4%	560.8%
CPRI	Capri	2.3	31.6%	-13.4%
GPK	Graphic Packaging	3.4	31.0%	-20.8%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
VCYT	Veracyte	1.9	-54.0%	-43.0%
MNTN	MNTN	0.3	-52.2%	-60.6%
FRMI	Fermi	1.0	-46.5%	-80.9%
NRIX	Nurix Therapeutics	1.7	-45.3%	-21.8%
LITE	Lumentum	43.5	-44.6%	38.3%
ACDC	ProFrac	0.5	-44.1%	-30.3%
PCT	PureCycle Technologies	0.3	-43.5%	-78.1%
INTC	Intel	274.0	-43.2%	41.6%
OFRM	Once Upon a Farm PBC	0.4	-42.7%	-56.5%
AESI	Atlas Energy Solutions	0.7	-42.5%	-43.5%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
BMBL	Bumble	0.8	139.2%	67.5%
GDYN	Grid Dynamics	1.1	76.5%	49.9%
ULH	Universal Logistics	0.8	72.3%	97.6%
TDOC	Teladoc Health	1.7	69.2%	34.4%
SGRY	Surgery Partners	3.0	69.0%	50.0%
LQDA	Liquidia	4.0	66.8%	29.0%
ENOV	Enovis	1.6	62.5%	7.4%
BRZE	Braze	5.1	61.0%	33.6%
UPBD	Upbound	1.5	59.3%	51.6%
COAG	Hemab Therapeutics	1.4	58.8%	34.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CIFR	Cipher Digital	2.3	-61.9%	-62.4%
AAOI	Applied Optoelectronics	3.8	-61.7%	34.5%
FRMI	Fermi	1.0	-61.5%	-80.9%
MXL	MaxLinear	4.0	-58.7%	154.2%
AESI	Atlas Energy Solutions	0.7	-57.3%	-43.5%
FPS	Forgent Power Solutions	4.7	-55.2%	-37.2%
STRL	Sterling Infrastructure	7.5	-54.3%	-20.2%
LITE	Lumentum	43.5	-54.1%	38.3%
AXTI	AXT	2.2	-54.0%	124.6%
ICHR	Ichor	1.0	-54.0%	52.1%

Peer Comparisons

Peers to compare with:

Financials

	OXSQ	VRTS	SLRC	GEG	RVII	BLK	Median
Name	Oxford S.	Virtus I.	SLR Inve.	Great Elm	Robinhoo.	BlackRock
Mkt Price	0.84	130.20	11.97	2.15	15.79	1,165.00	13.88
Mkt Cap	0.1	0.9	0.7	0.1	-	180.3	0.7
Rev LTM	-29	820	69	20	-	28,542	69
Op Inc LTM	-	131	-	-14	-	9,853	131
FCF LTM	-27	-52	218	1	-	4,784	1
FCF 3Y Avg	-2	47	169	-4	-	4,255	47
CFO LTM	-27	-46	218	1	-	5,230	1
CFO 3Y Avg	-2	54	169	-4	-	4,611	54

Growth & Margins

	OXSQ	VRTS	SLRC	GEG	RVII	BLK	Median
Name	Oxford S.	Virtus I.	SLR Inve.	Great Elm	Robinhoo.	BlackRock
Rev Chg LTM	-1,701.3%	-7.4%	-30.9%	-12.1%	-	24.7%	-12.1%
Rev Chg 3Y Avg	-277.7%	0.3%	-3.0%	32.0%	-	17.7%	0.3%
Rev Chg Q	402.2%	-4.6%	-61.6%	-69.1%	-	19.1%	-4.6%
QoQ Delta Rev Chg LTM	11.1%	-1.2%	-19.2%	-26.8%	-	4.6%	-1.2%
Op Inc Chg LTM	-	-28.3%	-	-41.5%	-	27.6%	-28.3%
Op Inc Chg 3Y Avg	-	-1.4%	-	-12.0%	-	17.0%	-1.4%
Op Mgn LTM	-	16.0%	-	-67.8%	-	34.5%	16.0%
Op Mgn 3Y Avg	-	18.3%	-	-51.7%	-	35.1%	18.3%
QoQ Delta Op Mgn LTM	-	-2.0%	-	-17.3%	-	1.5%	-2.0%
CFO/Rev LTM	-	-5.6%	315.7%	6.2%	-	18.3%	12.2%
CFO/Rev 3Y Avg	-	6.1%	198.1%	-24.5%	-	19.8%	12.9%
FCF/Rev LTM	-	-6.3%	315.7%	6.2%	-	16.8%	11.5%
FCF/Rev 3Y Avg	-	5.2%	198.1%	-24.5%	-	18.3%	11.7%

Valuation

	OXSQ	VRTS	SLRC	GEG	RVII	BLK	Median
Name	Oxford S.	Virtus I.	SLR Inve.	Great Elm	Robinhoo.	BlackRock
Mkt Cap	0.1	0.9	0.7	0.1	-	180.3	0.7
P/S	-	1.1	9.5	3.1	-	6.3	4.7
P/Op Inc	-	6.6	-	-4.6	-	18.3	6.6
P/EBIT	-	2.7	-	-2.2	-	17.4	2.7
P/E	-2.8	7.2	11.2	-2.0	-	26.1	7.2
P/CFO	-3.5	-18.9	3.0	51.1	-	34.5	3.0
Total Yield	5.6%	22.3%	20.9%	-50.9%	-	5.8%	5.8%
Dividend Yield	40.8%	7.9%	12.0%	0.0%	-	2.0%	7.9%
FCF Yield 3Y Avg	-4.4%	2.4%	23.2%	-8.2%	-	2.7%	2.4%
D/E	1.6	3.3	1.7	1.1	-	0.1	1.6
Net D/E	1.2	2.9	0.9	-0.2	-	-0.0	0.9

Returns

	OXSQ	VRTS	SLRC	GEG	RVII	BLK	Median
Name	Oxford S.	Virtus I.	SLR Inve.	Great Elm	Robinhoo.	BlackRock
1M Rtn	-32.8%	0.6%	4.7%	-0.5%	-30.9%	7.9%	0.1%
3M Rtn	-39.2%	-18.8%	-5.0%	-3.6%	-31.2%	3.7%	-11.9%
6M Rtn	-47.8%	-5.0%	-7.9%	4.9%	-31.2%	10.3%	-6.4%
12M Rtn	-43.4%	-14.3%	-14.3%	-12.2%	-31.2%	10.8%	-14.3%
3Y Rtn	-50.1%	-24.0%	10.0%	19.4%	-31.2%	90.7%	-7.0%
1M Excs Rtn	-30.3%	3.0%	6.2%	1.0%	-26.7%	10.4%	2.0%
3M Excs Rtn	-38.3%	-18.7%	-5.4%	-1.8%	-30.3%	3.9%	-12.0%
6M Excs Rtn	-52.6%	-10.0%	-12.7%	0.1%	-36.2%	5.5%	-11.3%
12M Excs Rtn	-55.8%	-27.1%	-27.0%	-26.5%	-45.3%	-1.2%	-27.1%
3Y Excs Rtn	-132.0%	-104.6%	-68.5%	-63.3%	-117.7%	20.5%	-86.5%

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Clinical Pipeline

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Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	9/30/2026	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	11/4/2026	3/6/2026	3/5/2025	3/19/2024	3/23/2023	3/7/2022	3/22/2021
Key Financials
Total Revenue	-29	-14	10	23	-81	44	6
Net Income	-33	-19	6	17	-86	40	2
EPS	-0.41	-0.25	0.09	0.32	-1.72	0.80	0.03
Growth Rates
Total Revenue Growth	-1701.3%	-243.0%	-56.2%	128.0%	-285.5%	691.9%	119.3%
Net Income Growth	-1181.6%	-418.6%	-65.9%	120.1%	-316.1%	2213.1%	105.2%
Margins
Net Income Margin	-	-	59.0%	75.8%	-	90.2%	30.9%
Cash & Debt
Total Cash	44	52	35	6	9	9	59
Total Debt	152	152	124	123	186	185	107
Net Debt / (Cash)	109	100	89	117	177	176	48
Cash Flows & CapEx
Net Cash from Operations	-27	-14	26	66	20	-107	95
Total CapEx	0	0	0	0	0	0	0
Free Cash from Operations	-27	-14	26	66	20	-107	95
Returns to Shareholders
Dividends	38	31	26	29	20	20	30
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2026Q3	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4
Period End	9/30/2026	6/30/2026	3/31/2026	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023
Filing Date	11/4/2026	8/10/2026	5/1/2026	3/6/2026	11/7/2025	8/12/2025	5/1/2025	3/5/2025	11/7/2024	8/14/2024	5/3/2024	3/19/2024
Key Financials Quarterly
Total Revenue	3	5	-25	-12	-1	5	-7	4	0	6	-1	-6
Net Income	2	4	-26	-13	-2	4	-8	3	-1	5	-2	-7
EPS	0.01	0.04	-0.29	-0.17	-0.03	0.06	-0.12	0.05	-0.01	0.09	-0.03	-0.15
Key Financials TTM
Total Revenue TTM	-29	-33	-32	-14	2	3	3	10	-0	8	15	23
Net Income TTM	-33	-37	-36	-19	-3	-1	-0	6	-5	3	9	17
Growth Rates Quarterly
Total Revenue Growth	402.2%	-18.0%	-246.1%	-372.6%	-487.5%	-8.5%	-1126.8%	173.5%	-97.3%	-53.1%	-108.0%	73.1%
Net Income Growth	174.8%	-8.9%	-214.3%	-495.4%	-139.2%	-16.6%	-359.3%	143.6%	-112.7%	-54.6%	-128.2%	67.2%
Margins Quarterly
Net Income Margin	57.3%	88.7%	-	-	-	79.9%	-	75.7%	-375.0%	87.7%	-	-
Cash & Debt
Total Cash	44	35	41	52	51	30	37	35	43	30	21	6
Total Debt	152	152	152	152	151	114	124	124	123	123	123	123
Net Debt / (Cash)	109	117	111	100	101	84	86	89	80	93	102	117
Cash Flows Quarterly
FCF from Operations	0	-14	-14	2	-20	-2	6	-6	5	6	20	10
Cash Flows TTM
FCF from Operations TTM	-27	-47	-34	-14	-22	3	11	26	42	64	79	66
Returns to Shareholders Quarterly
Dividends	11	10	9	9	8	7	7	7	7	6	6	6
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	0.9%	2.4%	-15.8%	-8.3%	-1.4%	3.0%	-5.6%	2.3%	-0.6%	3.7%	-1.3%	-5.2%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-4.8%	-5.4%	-5.6%	-3.0%	-0.4%	-0.2%	-0.1%	1.0%	-0.9%	0.5%	1.6%	3.0%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Single Segment	-1	22	42	-63	61
Total	-1	22	42	-63	61

Price Behavior

Price Behavior

Market Price	$0.84
Market Cap ($ Bil)	0.1
First Trading Date	11/24/2003
Distance from 52W High	-50.4%
	50 Days	200 Days
DMA Price	$1.22	$1.37
DMA Trend	down	down
Distance from DMA	-31.4%	-38.6%
	3M	1YR
Volatility	52.8%	47.5%
Downside Capture	181.59	130.17
Upside Capture	-83.25	52.19
Correlation (S&P 500)	16.5%	23.3%

OXSQ Betas & Captures as of 10/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	2.54	1.30	0.84	1.08	0.91	0.53
Up Beta	-5.13	-1.10	-1.31	-0.88	0.20	0.38
Down Beta	7.08	5.78	4.64	1.95	1.32	0.60
Up Capture	-141%	-77%	-61%	51%	59%	14%
Bmk +ve Days	12	18	28	62	130	427
Stock +ve Days	11	16	21	51	106	323
Down Capture	295%	167%	179%	187%	123%	93%
Bmk -ve Days	10	25	36	64	121	325
Stock -ve Days	9	15	29	56	108	311

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with OXSQ
OXSQ	-42.3%	47.5%	-1.00	-
Sector ETF (XLF)	11.1%	15.2%	0.47	15.6%
Equity (SPY)	9.5%	13.6%	0.41	25.1%
Gold (GLD)	3.6%	28.7%	0.11	18.7%
Commodities (DBC)	37.7%	21.2%	1.40	11.4%
Real Estate (VNQ)	12.0%	14.2%	0.55	0.6%
Bitcoin (BTCUSD)	-20.8%	43.3%	-0.42	16.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with OXSQ
OXSQ	-13.7%	30.3%	-0.46	-
Sector ETF (XLF)	9.1%	18.4%	0.36	28.9%
Equity (SPY)	11.3%	17.3%	0.48	31.6%
Gold (GLD)	17.5%	19.1%	0.74	11.0%
Commodities (DBC)	8.0%	19.6%	0.29	12.4%
Real Estate (VNQ)	1.2%	18.9%	-0.05	22.6%
Bitcoin (BTCUSD)	5.9%	51.5%	0.29	17.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with OXSQ
OXSQ	-3.5%	35.2%	-0.00	-
Sector ETF (XLF)	13.3%	22.1%	0.54	38.9%
Equity (SPY)	14.9%	18.0%	0.70	37.8%
Gold (GLD)	12.0%	16.5%	0.59	7.8%
Commodities (DBC)	7.6%	18.1%	0.33	16.9%
Real Estate (VNQ)	5.7%	20.7%	0.23	33.6%
Bitcoin (BTCUSD)	61.3%	66.2%	1.01	13.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	10152026
Short Interest: Shares Quantity	4.9 Mil
Short Interest: % Change Since 9302026	7.9%
Average Daily Volume	1.3 Mil
Days-to-Cover Short Interest	3.6 days
Basic Shares Quantity	111.3 Mil
Short % of Basic Shares	4.4%

Returns Analyses

	Title
0	How Low Can Oxford Square Capital Stock Really Go?

Earnings Returns History

Updated 11/4/2026

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/30/2026	-18.6%
7/31/2026	7.6%	3.5%	-2.9%
4/29/2026	1.7%	8.3%	-25.0%
3/3/2026	0.0%	-1.7%	-0.8%
11/4/2025	-0.5%	5.3%	-0.9%
8/7/2025	-1.3%	0.8%	-5.0%
4/25/2025	4.5%	4.1%	-1.9%
2/28/2025	1.1%	0.0%	-5.9%
...
SUMMARY STATS
# Positive	14	11	6
# Negative	8	10	15
Median Positive	1.3%	3.0%	2.4%
Median Negative	-1.3%	-1.6%	-2.9%
Max Positive	7.6%	8.3%	6.5%
Max Negative	-18.6%	-3.8%	-25.0%

Collapse to Preview

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/30/2026	-18.6%
7/31/2026	7.6%	3.5%	-2.9%
4/29/2026	1.7%	8.3%	-25.0%
3/3/2026	0.0%	-1.7%	-0.8%
11/4/2025	-0.5%	5.3%	-0.9%
8/7/2025	-1.3%	0.8%	-5.0%
4/25/2025	4.5%	4.1%	-1.9%
2/28/2025	1.1%	0.0%	-5.9%
11/5/2024	0.0%	-1.0%	-7.5%
8/13/2024	0.3%	-0.2%	-2.9%
5/2/2024	-2.4%	-2.1%	-5.0%
3/15/2024	-1.3%	-1.6%	1.4%
11/8/2023	-1.3%	-0.2%	0.2%
8/15/2023	2.3%	-3.8%	-1.9%
5/4/2023	1.7%	3.0%	-2.2%
11/9/2022	2.6%	-1.8%	3.4%
7/28/2022	0.0%	1.3%	1.1%
4/29/2022	1.5%	4.1%	4.0%
3/8/2022	-0.8%	-0.5%	6.5%
10/27/2021	0.0%	1.7%	-0.7%
7/28/2021	-0.8%	-1.7%	-9.6%
4/27/2021	0.5%	0.9%	-1.6%
SUMMARY STATS
# Positive	14	11	6
# Negative	8	10	15
Median Positive	1.3%	3.0%	2.4%
Median Negative	-1.3%	-1.6%	-2.9%
Max Positive	7.6%	8.3%	6.5%
Max Negative	-18.6%	-3.8%	-25.0%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
09/30/2026	11/04/2026	10-Q
06/30/2026	08/10/2026	10-Q
03/31/2026	05/01/2026	10-Q
12/31/2025	03/06/2026	10-K
09/30/2025	11/07/2025	10-Q
06/30/2025	08/12/2025	10-Q
03/31/2025	05/01/2025	10-Q
12/31/2024	03/05/2025	10-K
09/30/2024	11/07/2024	10-Q
06/30/2024	08/14/2024	10-Q
03/31/2024	05/03/2024	10-Q
12/31/2023	03/19/2024	10-K
09/30/2023	11/08/2023	10-Q
06/30/2023	08/10/2023	10-Q
03/31/2023	05/02/2023	10-Q
12/31/2022	03/23/2023	10-K

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Report Date	Filing Date	Filing
09/30/2026	11/04/2026	10-Q
06/30/2026	08/10/2026	10-Q
03/31/2026	05/01/2026	10-Q
12/31/2025	03/06/2026	10-K
09/30/2025	11/07/2025	10-Q
06/30/2025	08/12/2025	10-Q
03/31/2025	05/01/2025	10-Q
12/31/2024	03/05/2025	10-K
09/30/2024	11/07/2024	10-Q
06/30/2024	08/14/2024	10-Q
03/31/2024	05/03/2024	10-Q
12/31/2023	03/19/2024	10-K
09/30/2023	11/08/2023	10-Q
06/30/2023	08/10/2023	10-Q
03/31/2023	05/02/2023	10-Q
12/31/2022	03/23/2023	10-K
09/30/2022	11/08/2022	10-Q
06/30/2022	07/28/2022	10-Q
03/31/2022	04/28/2022	10-Q
12/31/2021	03/07/2022	10-K
09/30/2021	10/28/2021	10-Q
06/30/2021	07/29/2021	10-Q
03/31/2021	04/29/2021	10-Q
12/31/2020	03/22/2021	10-K
09/30/2020	10/28/2020	10-Q
06/30/2020	07/29/2020	10-Q
03/31/2020	04/29/2020	10-Q
12/31/2019	02/26/2020	10-K

Recent Forward Guidance

Updated 11/2/2026

Latest: Q3 2026 Earnings Reported 10/30/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
Q1 2027 Common Stock Distribution Per Share - January 2027	Reported		0.02		-57.1%		Lower New	Guidance: 0.04 for Q4 2026
Q1 2027 Common Stock Distribution Per Share - February 2027	Reported		0.02		-57.1%		Lower New	Guidance: 0.04 for Q4 2026
Q1 2027 Common Stock Distribution Per Share - March 2027	Reported		0.02		-57.1%		Lower New	Guidance: 0.04 for Q4 2026

Prior: Q2 2026 Earnings Reported 7/31/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
Q4 2026 Dividends	Reported		0.04		0.0%		Same New	Guidance: 0.04 for Q3 2026

Q1 2026 Earnings Reported 4/29/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
Q3 2026 Dividends	Reported		0.04		0.0%		Same New	Guidance: 0.04 for Q2 2026

Q4 2025 Earnings Reported 3/3/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
Q2 2026 Dividends	Reported		0.04		-66.7%		Lowered	Guidance: 0.11 for Q1 2026

Insider Activity

Updated 9/14/2026

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Novak, Steven P		As executor of estate of spouse	Sell	9142026	1.35	5,000	6,775	20,326	Form
2	Rosenthal, Saul B	President and COO	Direct	Buy	5212026	1.15	144,703	166,654	2,535,443	Form
3	Cohen, Jonathan H	Chief Executive Officer	Direct	Buy	5212026	1.15	144,704	166,656	2,783,881	Form

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#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Novak, Steven P		As executor of estate of spouse	Sell	9142026	1.35	5,000	6,775	20,326	Form
2	Rosenthal, Saul B	President and COO	Direct	Buy	5212026	1.15	144,703	166,654	2,535,443	Form
3	Cohen, Jonathan H	Chief Executive Officer	Direct	Buy	5212026	1.15	144,704	166,656	2,783,881	Form

Investor Activity (13F)

Updated

13F holdings as of

OXSQ Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

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STOCK ARCHETYPE

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INVESTMENT THESIS

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Mechanism: null

Supporting Evidence:

PRIMARY RISK

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Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Status	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

Diversification Alternatives

How Is The Market Pricing OXSQ?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What OXSQ Makes & Who Pays

TTM figures based on

OXSQ Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

Industry Resources

Financials Resources

Federal Reserve Economic Data

Asset Management & Custody Banks Resources

Pensions & Investments

Institutional Investor

Ignites

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Core Cache Last Updated: 11/5/2026

Oxford Square Capital (OXSQ)

Market Price (11/6/2026): $0.839 | Market Cap: $101.7 MilSector: Financials | Industry: Asset Management & Custody Banks

Oxford Square Capital (OXSQ)

Market Price (11/6/2026): $0.839Market Cap: $101.7 MilSector: FinancialsIndustry: Asset Management & Custody Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation & Metrics

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Qualitative Assessment

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Return vs. Risk

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How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

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About Oxford Square Capital (OXSQ)

Key Risks to Oxford Square Capital (OXSQ)

Share Repurchases

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Interactive Breakdown

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Peer Outperformance in Asset Management & Custody Banks

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Based On 1-Year Data

Based On 5-Year Data

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Short Interest

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Earnings Returns History

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Recent Forward Guidance

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Investor Activity (13F)

OXSQ Trade Sentinel

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CONVICTION RATIONALE

STOCK ARCHETYPE

INVESTMENT THESIS

PRIMARY RISK

Market Price (11/6/2026): $0.839
Market Cap: $101.7 Mil
Sector: Financials
Industry: Asset Management & Custody Banks