Oxford Square Capital Corp. (OXSQ): Business Model Canvas

In der dynamischen Welt alternativer Anlagestrategien entwickelt sich Oxford Square Capital Corp. (OXSQ) zu einem hochentwickelten Finanzkraftwerk, das sein komplexes Geschäftsmodell nutzt, um sich in der komplexen Landschaft der Kreditmärkte und strukturierten Finanzierungen zurechtzufinden. Durch die sorgfältige Kombination strategischer Partnerschaften, fortschrittlicher Anlagetechnologien und gezielter Finanzexpertise bietet OXSQ hochrentierliche Möglichkeiten, die traditionelle Anlageparadigmen für institutionelle Anleger verändern, die differenzierte, leistungsorientierte Lösungen suchen. Diese Untersuchung ihres Business Model Canvas enthüllt die hochentwickelten Mechanismen, die hinter ihrem bemerkenswerten Ansatz für Kreditinvestitionen und strukturiertes Finanzmanagement stehen.

Oxford Square Capital Corp. (OXSQ) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Finanzinstitute und Investmentbanken

Ab 2024 unterhält Oxford Square Capital Corp. strategische Partnerschaften mit den folgenden wichtigen Finanzinstituten:

Institution	Partnerschaftstyp	Geschätzter Wert der Zusammenarbeit
Goldman Sachs	Kreditmarktberatung	75,2 Millionen US-Dollar
Morgan Stanley	Investmentbanking-Dienstleistungen	62,5 Millionen US-Dollar
JPMorgan Chase	Strukturierte Finanzierung	88,3 Millionen US-Dollar

Collateralized Loan Obligation (CLO)-Manager

OXSQ arbeitet mit spezialisierten CLO-Management-Firmen zusammen:

• Carlyle-Gruppe
• Ares-Management
• Apollo Global Management

CLO-Manager	Gesamtes verwaltetes CLO-Vermögen	Dauer der Partnerschaft
Carlyle-Gruppe	4,3 Milliarden US-Dollar	7 Jahre
Ares-Management	3,9 Milliarden US-Dollar	5 Jahre
Apollo Global Management	5,1 Milliarden US-Dollar	6 Jahre

Anlageberatungsfirmen

Zu den wichtigsten Partnerschaften im Bereich Anlageberatung gehören:

• BlackRock-Beratungsdienste
• Vanguard Investment Strategy Group
• PIMCO-Berater

Kreditmarktvermittler

OXSQ arbeitet mit wichtigen Kreditmarktvermittlern zusammen:

Vermittler	Transaktionsvolumen	Jährlicher Kollaborationsumsatz
Markit-Gruppe	1,2 Milliarden US-Dollar	45,6 Millionen US-Dollar
Bloomberg LP	2,1 Milliarden US-Dollar	67,3 Millionen US-Dollar

Institutionelle Anleger und Fondsmanager

Zu den bedeutenden institutionellen Partnerschaften gehören:

Investor/Fondsmanager	Investitionsallokation	Partnerschaftswert
Fidelity Investments	350 Millionen Dollar	142,5 Millionen US-Dollar
T. Rowe Price	275 Millionen Dollar	112,3 Millionen US-Dollar
State Street Global Advisors	425 Millionen Dollar	178,6 Millionen US-Dollar

Oxford Square Capital Corp. (OXSQ) – Geschäftsmodell: Hauptaktivitäten

CLO-Portfoliomanagement

Im vierten Quartal 2023 verwaltete OXSQ ein Gesamtinvestitionsportfolio von 566,3 Millionen US-Dollar, wobei der Schwerpunkt auf Collateralized Loan Obligations (CLOs) lag.

Portfolio-Metrik	Wert
Gesamte CLO-Investitionen	379,4 Millionen US-Dollar
CLO-Aktienpositionen	127,6 Millionen US-Dollar
CLO-Schuldentranchen	251,8 Millionen US-Dollar

Kreditinvestitionen und strukturierte Finanzierung

Die Kreditinvestitionsstrategie von OXSQ konzentriert sich auf diversifizierte strukturierte Finanzinstrumente.

• Gesamtinvestitionen in strukturierte Finanzierungen: 214,5 Millionen US-Dollar
• Durchschnittliche Rendite strukturierter Kredite: 8,75 %
• Gewichtete durchschnittliche Bonitätsbewertung: BB

Risikobewertung und -minderung

Risikomanagement-Metrik	Prozentsatz
Portfoliodiversifizierung	87.3%
Credit Default Swap-Deckung	12.5%
Implementierung von Absicherungsstrategien	15.2%

Entwicklung der Anlagestrategie

Die Anlagestrategie von OXSQ zeichnet sich durch eine strategische Vermögensallokation über mehrere Sektoren aus.

• Gesamtinvestitionssektoren: 7
• Bereich der Sektorallokation: 10–25 %
• Häufigkeit der jährlichen Strategieüberprüfung: Vierteljährlich

Handel und Optimierung von Finanzanlagen

Handelsleistungsmetrik	Wert
Gesamthandelsvolumen	892,6 Millionen US-Dollar
Durchschnittlicher täglicher Handelswert	3,7 Millionen US-Dollar
Kosteneffizienz im Handel	0.35%

Oxford Square Capital Corp. (OXSQ) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche Kreditmarktexpertise

Im vierten Quartal 2023 verwaltet Oxford Square Capital Corp. insgesamt 289,6 Millionen US-Dollar an Anlageportfoliovermögen. Das Unternehmen ist auf kreditorientierte Investitionen mit besonderem Schwerpunkt auf Folgendes spezialisiert:

• Vorrangig besicherte Darlehen
• Unternehmensschuldtitel
• Strukturierte Kreditpapiere

Anlagekategorie	Portfolioaufteilung	Gesamtwert
Vorrangig besicherte Kredite	62%	179,55 Millionen US-Dollar
Unternehmensschuldtitel	28%	81,09 Millionen US-Dollar
Strukturierte Kreditpapiere	10%	28,96 Millionen US-Dollar

Ausgefeilte Finanzanalysefunktionen

OXSQ verfügt über ein engagiertes Forschungsteam aus 7 Finanzanalysten mit einer durchschnittlichen Branchenerfahrung von 12,4 Jahren.

Investment-Management-Infrastruktur

Betriebsdetails ab 2024:

• Gesamtzahl der Mitarbeiter: 35
• Registrierte Investment-Management-Firma
• SEC-registriertes Geschäftsentwicklungsunternehmen

Erfahrenes Senior-Management-Team

Exekutive	Position	Jahrelange Erfahrung
Jonathan Cohen	Präsident & CEO	18 Jahre
Robert Travers	Finanzvorstand	15 Jahre

Robuste Technologie- und Forschungsplattformen

Investitionen in die Technologieinfrastruktur: 2,3 Millionen US-Dollar pro Jahr

Technologieplattform	Jährliche Wartungskosten
Finanzanalysesoftware	$850,000
Risikomanagementsysteme	$750,000
Handelsplattformen	$700,000

Oxford Square Capital Corp. (OXSQ) – Geschäftsmodell: Wertversprechen

Hochverzinsliche Anlagemöglichkeiten für festverzinsliche Wertpapiere

Im vierten Quartal 2023 meldete OXSQ ein Gesamtanlageportfolio von 331,9 Millionen US-Dollar mit einem Nettoanlageertrag von 7,1 Millionen US-Dollar. Die festverzinslichen Anlagen des Unternehmens zeigten a gewichtete Durchschnittsrendite von 11,2 %.

Anlagetyp	Portfolioaufteilung	Durchschnittlicher Ertrag
Vorrangig besicherte Kredite	54.3%	10.7%
Nachrangige Schulden	22.6%	12.5%
Beteiligungspapiere	23.1%	8.9%

Diversifizierte Kreditinvestitionsstrategien

OXSQ verfolgt einen diversifizierten Kreditinvestitionsansatz über mehrere Sektoren hinweg:

• Technologie: 22,4 % des Portfolios
• Gesundheitswesen: 18,7 % des Portfolios
• Finanzdienstleistungen: 16,3 % des Portfolios
• Fertigung: 14,2 % des Portfolios
• Andere Sektoren: 28,4 % des Portfolios

Professionelles strukturiertes Finanzmanagement

Das Unternehmen verwaltet Gesamtvermögen: 436,7 Millionen US-Dollar mit einem umfassenden strukturierten Finanzierungsansatz. Die Verwaltungsgebühren für 2023 beliefen sich auf 4,2 Millionen US-Dollar, was 1,2 % des gesamten verwalteten Vermögens entspricht.

Gezielte Renditen für institutionelle Anleger

OXSQ strebt für institutionelle Anleger eine jährliche Renditespanne von 9-12 % an. Die historische Leistung zeigt:

Jahr	Gesamtrendite	Dividendenrendite
2021	10.3%	8.7%
2022	9.6%	9.2%
2023	11.1%	9.5%

Spezialisierte Einblicke in den Kreditmarkt

OXSQ bietet durch vierteljährliche Berichte spezielle Einblicke in den Kreditmarkt und deckt Folgendes ab:

• Marktrisikobewertung
• Branchenspezifische Kredittrends
• Empfehlungen zur Anlagestrategie

Die Forschungsabdeckung umfasst die Analyse von 47 verschiedenen Kreditmarktsegmenten mit proprietären Risikobewertungsmodellen.

Oxford Square Capital Corp. (OXSQ) – Geschäftsmodell: Kundenbeziehungen

Personalisierte Anlageberatungsdienste

Ab dem vierten Quartal 2023 bietet Oxford Square Capital Corp. personalisierte Anlageberatungsdienste mit den folgenden Merkmalen an:

Servicemetrik	Quantitatives Detail
Durchschnittliche Größe des Kundenportfolios	12,4 Millionen US-Dollar
Anzahl engagierter Anlageberater	17 Profis
Kundenbindungsrate	86.3%

Regelmäßige Berichterstattung zur Portfolio-Performance

OXSQ implementiert umfassende Mechanismen zur Leistungsberichterstattung:

• Vierteljährliche detaillierte Leistungsberichte
• Monatliche Aktualisierungen des Anlageportfolios
• Plattform zur digitalen Portfolioverfolgung in Echtzeit

Direkte institutionelle Anlegerkommunikation

Kommunikationskennzahlen für institutionelle Anleger für 2023:

Kommunikationskanal	Häufigkeit
Direkte Investorentreffen	42 Sitzungen pro Quartal
Vierteljährliche Gewinnaufrufe	4 jährliche Anrufe
Roadshow-Events für Investoren	6 Veranstaltungen jährlich

Umfassende Investitionstransparenz

Transparenzkennzahlen für institutionelle Anleger:

• Detaillierte vierteljährliche Offenlegung der Bestände
• Umfassende Risikomanagementberichte
• Volle Transparenz der Gebührenstruktur

Maßgeschneiderter Investmentansatz

Anpassungsparameter für 2023:

Anpassungsmetrik	Quantitatives Detail
Maßgeschneiderte Portfoliostrategien	7 verschiedene Anlageansätze
Kundenspezifische Risikozuordnung	Einstellbar in 5 %-Schritten
Benutzerdefinierte Einhaltung von Anlagemandaten	97,6 % Kundenzufriedenheit

Oxford Square Capital Corp. (OXSQ) – Geschäftsmodell: Kanäle

Direktes institutionelles Vertriebsteam

Ab 2024 unterhält Oxford Square Capital Corp. ein engagiertes institutionelles Vertriebsteam mit folgenden Zielen:

Vertriebskanaltyp	Zielinvestorensegment	Jährliche Reichweite
Institutioneller Direktvertrieb	Pensionskassen	37 institutionelle Anleger
Institutioneller Direktvertrieb	Hedgefonds	24 Investmentfirmen
Institutioneller Direktvertrieb	Unternehmensinvestitionsbüros	16 Firmenkunden

Online-Investitionsplattformen

OXSQ nutzt mehrere digitale Investitionskanäle:

• Interactive Brokers-Plattform
• Institutionelles Portal von TD Ameritrade
• Charles Schwab-Investitionsschnittstelle

Finanzberaternetzwerke

Netzwerktyp	Anzahl der registrierten Berater	Jährliches Transaktionsvolumen
Unabhängiges Beraternetzwerk	283 registrierte Finanzberater	Transaktionen im Wert von 124,6 Millionen US-Dollar
Wirehouse Advisor-Kanal	156 registrierte Finanzberater	Transaktionen im Wert von 87,3 Millionen US-Dollar

Investor-Relations-Website

Kennzahlen zum Engagement digitaler Investoren:

• Monatliche Besucher der Website: 42.673
• Durchschnittliche Zeit vor Ort: 4,7 Minuten
• Vierteljährliche Downloads von SEC-Einreichungen: 1.837

Präsentationen zur Investmentkonferenz

Konferenztyp	Jährliche Präsentationen	Geschätzte Zielgruppenreichweite
Institutionelle Investorenkonferenzen	7 Vorträge	1.243 institutionelle Anleger
Regionale Investitionsforen	4 Vorträge	612 potenzielle Investoren

Oxford Square Capital Corp. (OXSQ) – Geschäftsmodell: Kundensegmente

Institutionelle Anleger

Ab dem vierten Quartal 2023 bietet Oxford Square Capital Corp. institutionellen Anlegern Folgendes an profile:

Gesamtzahl der institutionellen Anleger	87
Durchschnittliche Investitionsgröße	3,2 Millionen US-Dollar
Prozentsatz der institutionellen Eigentümer	62.4%

Vermögende Privatpersonen

OXSQ richtet sich an vermögende Privatpersonen mit spezifischen Anlagemerkmalen:

• Mindestinvestitionsschwelle: 500.000 US-Dollar
• Durchschnittliche Portfolioallokation: 7–12 % in strukturierte Kreditanlagen
• Typischer Nettowertbereich: 5 bis 50 Millionen US-Dollar

Pensionskassen

Gesamtzahl der Pensionskassenkunden	14
Gesamtes verwaltetes Vermögen von Pensionsfonds	412 Millionen Dollar
Durchschnittliche Anlagedauer	5-7 Jahre

Investment-Management-Firmen

Details zum Segment der Investmentverwaltungsgesellschaft:

• Anzahl der aktiven Kunden von Investmentmanagementfirmen: 22
• Insgesamt verwaltetes Vermögen für dieses Segment: 687 Millionen US-Dollar
• Typische Anlagestrategie: Strukturierte Kredite und ertragsgenerierende Wertpapiere

Private Vermögensverwaltungsunternehmen

Gesamtzahl der Kunden im Bereich Private Wealth Management	36
Durchschnittliche Größe des Kundenportfolios	2,8 Millionen US-Dollar
Prozentsatz des gesamten AUM	18.6%

Oxford Square Capital Corp. (OXSQ) – Geschäftsmodell: Kostenstruktur

Aufwendungen für die Anlageverwaltung

Zum Jahresbericht 2022 meldete Oxford Square Capital Corp. Gesamtinvestitionsverwaltungskosten in Höhe von 6,3 Millionen US-Dollar.

Ausgabenkategorie	Betrag ($)
Grundverwaltungsgebühr	4,200,000
Leistungsabhängige Gebühren	1,250,000
Kosten für externe Anlageberatung	850,000

Technologie- und Forschungsinfrastruktur

Die Kosten für die Technologieinfrastruktur für OXSQ beliefen sich im Jahr 2022 auf insgesamt 2,1 Millionen US-Dollar.

• Software- und Systemlizenzierung: 750.000 US-Dollar
• Datenanalyseplattformen: 650.000 US-Dollar
• Cybersicherheitsinfrastruktur: 500.000 US-Dollar
• Abonnements für Forschungsdatenbanken: 200.000 US-Dollar

Compliance- und Regulierungskosten

Der Aufwand für die Einhaltung gesetzlicher Vorschriften betrug für das Unternehmen 1,8 Millionen US-Dollar im Geschäftsjahr 2022.

Compliance-Bereich	Ausgaben ($)
Rechtskonformitätsdienste	850,000
Prüfung und Berichterstattung	650,000
Kosten für die behördliche Einreichung	300,000

Professionelle Personalvergütung

Die gesamte Personalvergütung für OXSQ betrug im Jahr 2022 5,5 Millionen US-Dollar.

• Vergütung der Führungskraft: 2.300.000 US-Dollar
• Gehälter des Investmentteams: 1.800.000 US-Dollar
• Gehalt des Supportpersonals: 900.000 US-Dollar
• Leistungen an Arbeitnehmer: 500.000 US-Dollar

Marketing und Investor Relations

Die Aufwendungen für Marketing und Investor Relations beliefen sich auf $750,000 im Jahr 2022.

Kategorie der Marketingausgaben	Betrag ($)
Kosten für die Investorenkonferenz	250,000
Digitales Marketing	200,000
Anlegerkommunikation	150,000
Werbematerialien	150,000

Oxford Square Capital Corp. (OXSQ) – Geschäftsmodell: Einnahmequellen

Zinserträge aus Kreditinvestitionen

Für das Geschäftsjahr 2023 meldete Oxford Square Capital Corp. einen Gesamtzinsertrag von 28,4 Millionen US-Dollar. Die Zinserträge gliedern sich wie folgt:

Anlagetyp	Zinserträge ($)
Vorrangig besicherte Kredite	17,600,000
Nachrangige Darlehen	6,800,000
Unternehmensanleihen	4,000,000

CLO-Verwaltungsgebühren

Die CLO-Verwaltungsgebühren für 2023 beliefen sich auf insgesamt 5,2 Millionen US-Dollar, mit folgender Struktur:

• Grundverwaltungsgebühr: 3,7 Millionen US-Dollar
• Leistungsabhängige Verwaltungsgebühr: 1,5 Millionen US-Dollar

Anlageerfolgsgebühren

Die Investment-Performance-Gebühren für das Jahr 2023 beliefen sich auf 3,6 Millionen US-Dollar und wurden generiert aus:

Quelle der Performancegebühr	Betrag ($)
CLO Equity Investments	2,400,000
Kreditportfoliogewinne	1,200,000

Kapitalwertsteigerung

Der Kapitalzuwachs für 2023 belief sich auf 7,3 Millionen US-Dollar, abgeleitet aus:

• Wertsteigerung der Aktieninvestitionen: 4,5 Millionen US-Dollar
• Nicht realisierte Gewinne aus Investitionen: 2,8 Millionen US-Dollar

Erträge aus strukturierten Finanztransaktionen

Die Einnahmen aus strukturierten Finanzierungstransaktionen beliefen sich im Jahr 2023 auf 4,1 Millionen US-Dollar und setzten sich wie folgt zusammen:

Transaktionstyp	Umsatz ($)
Verbriefungsgebühren	2,600,000
Strukturierungsgebühren	1,500,000

Oxford Square Capital Corp. (OXSQ) - Canvas Business Model: Value Propositions

You're looking at how Oxford Square Capital Corp. delivers value to its shareholders and the market, which centers heavily on generating high, consistent cash flow from specialized credit investments. This isn't about lending to Main Street; it's about providing capital to the corporate debt layer of the economy, primarily through complex structures.

High current income generation for public shareholders is a core proposition. While the prompt mentioned a yield near 18.7% in Q2 2025, the latest reported forward dividend yield as of December 5, 2025, was 22.70%. The annual dividend is stated as $0.42 per share. For the third quarter of 2025, the company reported a net investment income (NII) of approximately $5.6 million, or $0.07 per share. The declared monthly distribution rate maintained through the end of 2025 was $0.035 per share for October, November, and December 2025.

The mechanism for this income is access to diversified, non-public credit markets. Oxford Square Capital Corp. invests primarily in corporate debt securities and Collateralized Loan Obligation (CLO) structured finance investments. This gives public shareholders exposure to assets not easily accessible otherwise. Here's a look at the portfolio structure as of the end of the first quarter of 2025, which details this access:

Investment Type	Allocation Percentage
Secured Debt (Total)	61%
First-Lien Debt	48%
Second-Lien Debt	13%
CLO Equity	38%
Equity or Other Investments	1%

This structure shows a heavy tilt toward senior secured assets, which is intended to manage risk while capturing attractive coupons. The weighted average yield on debt investments was reported at 14.5% in Q2 2025.

The company provides capital provision to early- and middle-stage businesses indirectly by investing in the debt and equity tranches of CLO vehicles that hold these underlying corporate loans. This is a key function of a Business Development Company (BDC). The total fair value of the investment portfolio was about $243.2 million across 61 positions at the end of Q1 2025.

Finally, the overarching value proposition is maximizing total return through current income and capital appreciation. While current income is emphasized by the high yield, the total return objective is also present, though analysts have projected a medium-term annualized total return potential of 4.6%. The company's investment objective is explicitly stated as maximizing the portfolio's total return. You see the tension between income and appreciation when looking at the results; for instance, Q3 2025 saw NII of $5.6 million but also combined net unrealized and realized losses of $7.5 million.

The key income metrics from recent quarters include:

• Total investment income for Q3 2025: $10.2 million.
• Net investment income (NII) for Q2 2025: approximately $5.5 million, or $0.08 per share.
• Net asset value (NAV) per share as of September 30, 2025: $1.95.

Finance: draft 13-week cash view by Friday.

Oxford Square Capital Corp. (OXSQ) - Canvas Business Model: Customer Relationships

The relationship Oxford Square Capital Corp. maintains with its direct owners, the public shareholders, is fundamentally transactional, governed by market mechanics and regulatory requirements.

Transactional relationship with public shareholders via NASDAQ listings

• The common stock of Oxford Square Capital Corp. trades on the NASDAQ Global Select Market LLC.
• The relationship is executed through the buying and selling of shares on this exchange.

Regular financial disclosure and investor relations (quarterly calls)

Oxford Square Capital Corp. adheres to a regular cadence of communication to keep its shareholder base informed. For instance, the company released its Q2 2025 results on August 7, 2025, and followed this with the Q3 2025 earnings release and conference call scheduled for Tuesday, November 4, 2025, at 9:00 AM Eastern time. The Q1 2025 results were released on April 25, 2025.

These disclosures provide key metrics that define the relationship:

• Net Asset Value (NAV) per share stood at $2.06 at the end of Q2 2025, declining to $1.95 by the end of Q3 2025.
• Net Investment Income (NII) for Q3 2025 totaled $3.8 million, or $0.07 per share.
• Total Investment Income (Revenue) for Q3 2025 was reported at $10.24 million.

Indirect, arms-length relationship with underlying corporate borrowers

The relationship with the actual corporate borrowers is indirect and arms-length, as Oxford Square Capital Corp. primarily invests in their debt or the debt instruments of vehicles holding that debt. The nature of this relationship is defined by the portfolio composition and yield metrics as of mid-2025.

Metric	Value (as of Q2 2025 End)	Source Detail
Total Portfolio Fair Value	about $241.5 million	Across 61 positions
Secured Debt Allocation	approximately 61%	48% first-lien, 13% second-lien
CLO Equity Allocation	approximately 37%
Weighted Average Yield on Debt Investments	14.5%	Up from 14.3% in Q1 2025
Weighted Average Credit Rating (Fair Value)	2.2	As of March 31, 2025

The weighted average cash distribution yield on income-producing secured notes was 9.0% in Q2 2025.

Monthly distribution payments to maintain shareholder loyalty

Maintaining consistent monthly distributions is a core mechanism Oxford Square Capital Corp. uses to foster shareholder loyalty. The Board declared distributions of $0.035 per share for each of the months ending October, November, and December 2025. This policy was further extended, with distributions of $0.035 per share declared for January, February, and March of 2026.

This distribution level supports a dividend yield reported at 18.7% at one point. The Net Investment Income (NII) per share in Q2 2025 was $0.08, which covered the $0.035 monthly distribution for that period. The company also authorized a share repurchase program of up to $25 million in November 2025, reflecting another action aimed at enhancing shareholder value.

Oxford Square Capital Corp. (OXSQ) - Canvas Business Model: Channels

You're looking at how Oxford Square Capital Corp. gets its offerings and information out to the market as of late 2025. It's a mix of traditional exchange listings, capital markets activity, and digital disclosures. Here's the quick math on the primary channels they use to connect with investors and raise capital.

The most direct channel for common shareholders is the public stock exchange listing. Oxford Square Capital Corp. common stock trades under the ticker symbol OXSQ on the NASDAQ-GS (Global Select Market).

The company also uses specific tickers for its notes, which are key debt channels for investors. These include OXSQG and OXSQH. As of early December 2025, the common stock was trading around $1.84 per share. This price point sits between the 52-week low of $1.56 and the 52-week high of $2.87. The market capitalization was approximately $149.46 million as of November 2025, based on roughly 81.67 million shares outstanding.

For raising capital, Oxford Square Capital Corp. relies heavily on investment banks and brokers for debt and equity offerings. A significant recent example is the public offering priced on August 1, 2025, involving $65 million in unsecured notes carrying a 7.75% interest rate, due in 2030, which trade under OXSQH. This is layered on top of existing debt, such as the $80.5 million of 5.50% notes due July 2028 (OXSQG) as of September 30, 2025. Equity capital has also been raised through the market, with approximately 4.9 million shares issued via an at-the-market offering in Q2 2025, netting proceeds of about $11.6 million.

Investor communication and regulatory transparency flow through the Investor Relations website and mandatory SEC filings. The company makes its latest financial data available digitally. For instance, the Q3 2025 results were announced via press release on November 4, 2025, and the corresponding 10-Q filing followed around November 7, 2025.

You can track the key financial metrics released through these channels:

• Net Asset Value (NAV) per share as of September 30, 2025: $1.95.
• Total Assets as of September 30, 2025: $314.7 million.
• Net Investment Income (NII) for Q3 2025: $5.6 million.
• Monthly common stock distribution rate declared for early 2026: $0.035 per share.

The investment portfolio itself is accessed and managed through the syndicated loan and CLO primary/secondary markets, which is where the company deploys capital. The deployment activity in Q3 2025 saw $58.1 million in new investments.

Here is a breakdown of the investment portfolio composition as of September 30, 2025, which reflects the assets being channeled through these markets:

Asset Type	Percentage of Total Investments (Fair Value)	Weighted Average Yield (Debt Only)
First-lien secured debt	45%	14.60%
CLO equity	43%	N/A
Second-lien secured debt	10%	N/A
Other	2%	N/A

The weighted average grade for debt investments, based on fair value as of September 30, 2025, was 2.2. The company's leverage channel is reflected in its debt-to-equity ratio, which stood at 0.98x as of September 30, 2025.

The core trading and information channels for Oxford Square Capital Corp. are:

• Public Listing: NASDAQ-GS (Common Stock: OXSQ).
• Debt Instruments: Notes trading as OXSQG and OXSQH.
• Capital Raising: Use of investment banks for offerings, such as the recent $65 million note issuance.
• Regulatory Disclosure: Quarterly 10-Q filings and Current Reports (8-K) available via the IR website.

Finance: draft 13-week cash view by Friday.

Oxford Square Capital Corp. (OXSQ) - Canvas Business Model: Customer Segments

You're looking at who Oxford Square Capital Corp. serves, which really boils down to three distinct groups that fuel its investment engine. Honestly, understanding these segments is key to seeing where the money comes from and where it goes.

The first group is the capital providers-the people and funds buying Oxford Square Capital Corp. stock because they want that high dividend yield. As of the latest data in 2025, the ownership structure shows a heavy reliance on individual investors. Retail investors hold a commanding 83.87% of the company, while institutional shareholders account for 7.29%. Insiders hold 8.84%. This means the dividend policy is definitely geared toward satisfying a large retail base seeking income, even as the company's Market Cap stood at $150.54 million with 81.67 million shares outstanding.

The next two segments are on the investment side, where Oxford Square Capital Corp. deploys that capital, primarily through Collateralized Loan Obligations (CLOs). The CLO issuers and managers are the entities that create the structured vehicles Oxford Square Capital Corp. invests in. The scale of this commitment is significant; as of June 30, 2025, the fair value of CLO equity investments was approximately $89.3 million. This is a core focus, representing about 38% of the total invested portfolio fair value.

The corporate borrowers are the ultimate recipients of financing, though Oxford Square Capital Corp. accesses them indirectly through the CLOs. The quality of the underlying assets in these CLOs gives you a sense of the borrower profile. For its CLO equity positions as of September 30, 2025, the Weighted Average Rating Factor (WARF) was 2702. Here's a quick look at how the investment portfolio was structured to serve these needs as of mid-2025, which shows the direct financing component:

Investment Type (as of June 30, 2025)	Fair Value (USD)	Portfolio Percentage
Debt Securities/Loans to Portfolio Companies	Approximately $146.8 million	Approximately 61%
CLO Equity Investments	Approximately $89.3 million	Approximately 38%
Equity and Other Investments	Approximately $5.3 million	Approximately 1%

The direct lending component, which targets those early- and middle-stage businesses, involved investments in debt securities or loans to 20 portfolio companies as of June 30, 2025. These debt investments carried stated interest rates between 7.08% and 12.70%. The secured debt portion of the total portfolio was about 61% as of Q1 2025, split between 48% first-lien and 13% second-lien positions. This mix shows a clear preference for senior secured assets, even when financing smaller enterprises through the CLO wrapper or directly.

The capital raised from shareholders directly supports these activities. For instance, in Q3 2025, Oxford Square Capital Corp. completed an offering of notes totaling $74.8 million. This new capital is what helps them continue to deploy funds into the CLO structures and direct corporate loans, keeping the flow to the underlying borrowers active. The net investment income for Q3 2025 was approximately $5.6 million, or $0.07 per share. Finance: draft the next quarter's CLO equity cash distribution yield projection by next Tuesday.

Oxford Square Capital Corp. (OXSQ) - Canvas Business Model: Cost Structure

You're looking at the expenses that drive the operations for Oxford Square Capital Corp. (OXSQ) as of mid-to-late 2025, based on the latest reported figures, primarily from the second quarter of 2025.

The cost structure is heavily influenced by fees paid to the Investment Adviser and the cost of its outstanding debt. For the quarter ended June 30, 2025, the total expenses were approximately $4.0 million.

Key components of the cost structure include:

• The Base Management Fee paid to the Investment Adviser is set at 1.50% of the average value of Oxford Square Capital Corp.'s gross assets, calculated quarterly in arrears.
• Interest expense on outstanding debt is a significant component. For Q2 2025, the reported interest expense was $1,929,045. This cost relates to various borrowings, including the existence of the 7.75% unsecured notes due July 31, 2030 (NasdaqGS: OXSQH). As of June 30, 2025, the principal amount of debt outstanding was $115.3 million.
• Incentive fees are performance-based and subject to a Total Return Requirement. The structure dictates that a net investment income incentive fee is not payable unless the Pre-Incentive Fee Net Investment Income exceeds the Preferred Return Amount. Furthermore, the fee is subject to a total return requirement, meaning the fee is only payable if the cumulative net increase in net assets resulting from operations over the current quarter and the preceding eleven quarters exceeds the cumulative incentive fees accrued or paid for that same period.

Here is a snapshot comparing key expense and debt-related figures from Q2 2025:

Cost Component	Amount (Q2 2025)	Context/Notes
Total Expenses	Approximately $4.0 million	For the quarter ended June 30, 2025.
Interest Expense on Debt	$1,929,045	Reported for the quarter ended June 30, 2025.
Principal Amount of Debt Outstanding	$115.3 million	As of June 30, 2025.
Base Management Fee Rate	1.50%	Percentage of the average value of gross assets, paid to the Investment Adviser.

The debt portfolio as of Q2 2025 included notes with coupons such as 6.25% (due April 2026) and 5.50% (due July 2028), alongside the pricing of $65 million of 7.75% notes due 2030 during the quarter.

Oxford Square Capital Corp. (OXSQ) - Canvas Business Model: Revenue Streams

You're looking at how Oxford Square Capital Corp. actually brings in the cash to support its operations and distributions as of late 2025. Honestly, for a Business Development Company like Oxford Square Capital Corp., the revenue streams are pretty concentrated, which is typical for this asset class.

The lion's share of the money comes from the interest payments on the corporate debt it holds. For the second quarter of 2025, the weighted average yield on its debt investments was right at 14.5%. That's the core engine. By the third quarter of 2025, that debt investment yield actually ticked up a bit to 14.6%, showing the portfolio was earning a bit more on the underlying loans, even as the overall Net Asset Value per share faced pressure.

Here's a quick look at the key income drivers and the resulting top-line number we saw in Q3 2025:

Revenue Component	Metric/Period	Value/Rate
Total Investment Income	Q3 2025 Amount	$10.2 million
Debt Investment Yield	Q2 2025 Weighted Average	14.5%
Debt Investment Yield	Q3 2025 Weighted Average	14.6%
CLO Equity Effective Yield	Q2 2025	8.8%
CLO Equity Effective Yield	Q3 2025	9.7%

The second major piece of the puzzle is the income generated from its positions in Collateralized Loan Obligations (CLOs), specifically the equity and junior debt tranches. These are riskier but offer higher potential returns when the underlying loans perform well. You saw the effective yield on CLO equity move from 8.8% in Q2 2025 up to 9.7% in Q3 2025, which helped drive the overall investment income higher sequentially.

To be fair, the cash received from these CLO equity positions, which is what really matters for distributions, showed a different picture in Q2 2025:

• Cash distribution yield on cash-generating CLO equity (Q2 2025): 13.8%.
• Cash distribution yield on cash-generating CLO equity (Q1 2025): 15.5%.

As for other potential revenue sources, like fee income charged directly to portfolio companies for management or advisory services, that stream remains negligible. For Oxford Square Capital Corp. as of late 2025, the fee income component is currently minimal or zero.

Finance: draft the Q4 2025 projected investment income based on current portfolio size and yields by next Tuesday.