Stellus Capital Q1 Net Investment Income Falls to $0.26, NAV Slides to $12.54
Stellus Capital Investment reported Q1 net investment income of $7.5 million ($0.26 per share), down from $9.8 million ($0.35), and core net investment income of $7.86 million ($0.27). Portfolio fair value fell to $990 million and NAV per share dropped to $12.54 from $12.82.
1. Financial Performance
Stellus posted U.S. GAAP net investment income of $7.5 million ($0.26 per share) for the quarter ended March 31, 2026, versus $9.79 million ($0.35 per share) a year earlier. Core net investment income reached $7.86 million ($0.27 per share) and total realized income was $8.25 million ($0.29 per share).
2. Portfolio and NAV
At quarter end, the company’s portfolio at fair value stood at $990.0 million, down from $1,007.6 million at December 31, 2025, while total assets were $1,001.3 million. Net asset value per share declined to $12.54 from $12.82 over the same period.
3. Investment Activity
During Q1, Stellus funded $27.7 million of new investments and received $41.7 million in repayments, yielding net portfolio outflows of $14.0 million. The portfolio comprised 116 company investments and 100 debt holdings as of March 31.
4. Yield Profile
The weighted average yield on debt and other income-producing investments decreased to 8.5% from 8.7% at year-end, reflecting lower cash yields and payment-in-kind allocations within the portfolio.