As of September 30, 2024, SuRo Capital Corp. reported total portfolio investments of $199.3 million, an increase from $184.1 million at the end of 2023. However, the fair value of total investments decreased to $199.3 million from $247.9 million, reflecting a decline in net assets to $157.4 million from $203.4 million over the same period. The net asset value per share also fell to $6.73 from $7.99.

Investment income for the three months ended September 30, 2024, was $888.7 thousand, down from $1.5 million in the prior year. For the nine-month period, total investment income decreased to $3.4 million from $4.1 million. The decline in investment income was attributed to the cessation of interest income from short-term U.S. Treasury bills and reduced income from specific investments, including Xgroup Holdings Limited and Shogun Enterprises, Inc.

Total operating expenses for the three months ended September 30, 2024, were $4.1 million, slightly lower than $4.1 million in the same quarter of 2023. For the nine months, operating expenses decreased to $13.5 million from $14.8 million. Despite the reduction in expenses, the company reported a net investment loss of $3.2 million for the third quarter, compared to a loss of $2.7 million in the previous year. The nine-month net investment loss was $10.1 million, an improvement from a loss of $10.7 million in 2023.

SuRo Capital experienced significant realized losses on investments, reporting a net realized loss of $13.7 million for the third quarter, compared to $1.5 million in the same period last year. The nine-month realized loss was $14.2 million, slightly lower than $14.5 million in 2023. The net change in unrealized appreciation for the third quarter was $11.6 million, down from $29.3 million in 2023, while the nine-month change was a depreciation of $13.8 million compared to an appreciation of $39.4 million in the prior year.

Strategically, SuRo Capital has made several investments, including in CoreWeave, Inc. and OpenAI Global, LLC, and has engaged in a share repurchase program, repurchasing 2 million shares at $4.70 each in April 2024. The company also issued $25 million in 6.50% Convertible Notes due 2029 in August 2024, with a conversion price of approximately $7.75 per share. As of September 30, 2024, the company had approximately $20.7 million remaining available for repurchase under its Share Repurchase Program.