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SuRo Capital (SSSS) investor relations material
SuRo Capital Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Net asset value (NAV) per share rose to $9.23 as of September 30, 2025, up from $6.68 at December 31, 2024, reflecting strong portfolio appreciation, realized gains, and successful monetizations, especially in AI infrastructure and digital assets.
Net assets totaled $231.8 million at quarter-end, with portfolio fair value increasing to $252.2 million from $209.4 million at year-end 2024.
Board declared two $0.25 per share cash dividends in 2025, with the latest payable December 5, 2025, supported by realized gains from CoreWeave and other liquidity events.
Portfolio comprised 37 companies, with the top five accounting for 52% of total fair value; significant exposure to OpenAI, CoreWeave, and digital infrastructure.
Recent investments include $5 million in HL Digital Assets and new capital deployed in Plaid and Liquid Death.
Financial highlights
Net investment loss for Q3 2025 was $3.5 million ($0.14 per share); net realized gain on investments was $5.2 million ($0.21 per share); net change in unrealized appreciation was $5.7 million ($0.23 per share).
For the nine months ended September 30, 2025, net realized gain was $26.4 million and net change in unrealized appreciation was $53.4 million.
Total investment income for the nine months ended September 30, 2025 was $1.1 million, down from $3.4 million year-over-year.
Operating expenses decreased to $12.0 million for the nine months ended September 30, 2025.
$10.8 million raised via ATM share sales; $58.3 million in liquid assets at quarter end.
Outlook and guidance
Management anticipates continued strong investor interest due to unique exposure to OpenAI and AI infrastructure, with further monetizations and additional dividends expected in Q4 2025 or early Q1 2026.
Share and note repurchase programs extended, with $25 million and $39.7 million remaining available, respectively, as of November 5, 2025.
Ongoing focus on early-stage investments in foundational technology, digital infrastructure, and disciplined capital allocation.
What is the fair value of the OpenAI investment?
Remaining CoreWeave stake after recent sales?
Remaining capacity for share repurchase program?
Manage AI portfolio concentration post-OpenAI valuation?
Hyperliquid investment: strategic fit with AI focus?
CoreWeave monetizations: impact on shareholder returns?
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Next SuRo Capital earnings date
Q4 202512 Mar, 2026
Next SuRo Capital earnings date
Q4 202512 Mar, 2026
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Frequently asked questions
SuRo Capital Corp is an investment company focused on acquiring equity in private, venture-backed companies with high growth potential. The company targets industries such as technology, education, and financial services, aiming to provide capital to innovative enterprises. SuRo Capital’s portfolio includes a diverse range of companies in emerging sectors. The company is headquartered in San Francisco, California, and its shares are listed on the NASDAQ.
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