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Oxford Square Capital Corp. is a closed-end, non-diversified management investment company regulated as a business development company (BDC) and treated as a regulated investment company (RIC) for tax purposes. Its investment objective is to maximize total portfolio return by investing primarily in corporate debt securities and collateralized loan obligation (CLO) structured finance investments. The company targets middle-market companies that are generally cash flow positive and have financial or strategic sponsors. Oxford Square invests between $5 million and $25 million per portfolio company, maintaining diversification with few investments exceeding 5% of the portfolio. The portfolio includes senior secured loans, CLO equity and debt tranches, subordinated debt, warrants, and other equity instruments across various industries such as Business Services, Healthcare, Industrials, and Software. The company uses leverage through unsecured notes to enhance returns and provides significant managerial assistance to portfolio companies. Oxford Square Management, LLC serves as the investment adviser, managing day-to-day operations and investment decisions. The company also raises capital through equity offerings, including an ATM program.

MarketWise, Inc. is a digital subscription platform founded in 1999 that provides premium financial research, software, education, and tools to self-directed investors. The company operates multiple brands including Stansberry Research, Chaikin Analytics, Brownstone Research, InvestorPlace, and TradeSmith, offering a wide array of paid and free products covering diverse investment strategies. Its software and analytical tools segment accounted for 52% of billings in 2025. MarketWise serves approximately 374,000 paid subscribers and about 2 million total subscribers including free users. The company employs an omni-channel marketing approach and leverages AI and advanced analytics to optimize customer acquisition and retention. Revenue is recognized ratably over subscription terms, which typically last one year. MarketWise also pays quarterly and special dividends at the discretion of its Board. The company reported net income of $5.62 million and cash balances of $70.14 million as of December 31, 2025, with billings up 42% year-over-year in Q4 2025 [S1][N2][N3][N5][N7].

Ares Real Estate Income Trust Inc. is a real estate investment trust with a portfolio of 144 properties totaling about 30.5 million square feet across 34 U.S. markets. The portfolio includes residential, industrial, retail, office, self-storage, and data center properties. The company’s leases are primarily triple net commercial leases with terms typically ranging from one to ten years. The customer base is diversified, with no single customer accounting for more than 10% of annualized base rent. The company manages its cybersecurity risks through a dedicated internal team and oversight by senior management and the board. Financially, the company reported revenues of approximately $498.8 million and a net loss of $68.0 million for the fiscal year ended December 31, 2025, with cash and cash equivalents of about $40.1 million. The leverage ratio was approximately 34.9% as of January 31, 2026. Monthly distributions were authorized at $0.03450 per share for late 2025 and early 2026. The company raised significant equity proceeds in Q4 2025. NAV and asset valuations are supported by detailed procedures and sensitivity analyses.

NewLake Capital Partners, Inc. is an internally managed REIT focused on providing long-term, single-tenant, triple-net sale leaseback and build-to-suit real estate solutions to the regulated cannabis industry in the United States. The company operates through its subsidiary, NLCP Operating Partnership LP, consolidating variable interest entities where it is the primary beneficiary. Its portfolio consists of 34 properties leased to 11 tenants across 12 states, including dispensaries and cultivation facilities. The leases typically include annual rent escalations and improvement allowances. The company’s revenue is primarily derived from rental income under triple-net leases, with additional income from interest on loans and fees. NewLake maintains conservative leverage with low general and administrative expenses and manages liquidity through cash reserves, credit facilities, and equity programs. Tenant credit risk and regulatory uncertainty due to cannabis’s federal legal status are material considerations in its operations.

Atlantis Glory Inc. is a development-stage company with no current operations or revenues. Its business model depends on identifying and completing a merger or acquisition with an operating business to commence operations. The company has no current agreements with any target business and faces challenges in securing sufficient capital and competitive acquisition opportunities. The CEO and sole director, YUM Edward Liang Hsien, holds a controlling interest and manages the company. Financial disclosures indicate a net loss and minimal liquidity as of the latest fiscal year-end.

Granite Ridge Resources, Inc. is a Delaware corporation formed in 2022 to provide shareholders exposure to energy private equity-like returns through investments in operated partnerships and traditional non-operated oil and natural gas assets across six prolific unconventional basins in the United States. The company holds interests in thousands of wells and hundreds of thousands of net acres, focusing on high-graded drilling inventory and near-term development projects. Granite Ridge leverages proprietary data and technology to evaluate opportunities and aims to maintain a healthy balance sheet with low leverage. The company also employs a programmatic hedging strategy to mitigate commodity price risk and pays quarterly dividends subject to financial and legal considerations. Its asset base is diversified across the Permian, Eagle Ford, Bakken, Haynesville, Denver-Julesburg, and Appalachian basins, with production marketed primarily through operating partners.

Pattern Group Inc. is a technology-enabled ecommerce company focused on accelerating profitable growth for consumer brands on global marketplaces. Its proprietary ecommerce acceleration platform (EXP) uses AI, machine learning, and a vast dataset of over 46 trillion data points to optimize key ecommerce levers such as advertising, pricing, content management, forecasting, and customer service. The company operates across more than 60 marketplaces worldwide, selling tens of thousands of products from over 200 brand partners in diverse industries including health and wellness, beauty, home and lifestyle, pet, sports, and consumer electronics. Pattern Group acquires inventory from brand partners under contractual agreements and manages the marketplace experience to drive traffic, conversion, pricing, and availability. The company also offers subscription and consulting services related to ecommerce technology, marketing, compliance, logistics, and strategic growth. It reported $1.778 billion in revenue for the fiscal year ended December 31, 2025, with a net loss of $12.476 million. Liquidity remains strong with $289 million in cash and a current ratio of 2.34. The company completed an IPO in September 2025 and maintains a revolving credit facility with $150 million capacity. Operating expenses increased in 2025 due to stock-based compensation related to IPO vesting, fulfillment costs, and corporate expenses. Pattern Group emphasizes technology innovation and warehouse automation to improve operational efficiency and scale.

Chime Financial, Inc. is a technology-driven consumer financial services company focused on serving everyday Americans through a digital-first platform. The company partners with FDIC-insured banks to provide checking accounts, debit and secured credit cards, savings products, and short-term liquidity solutions. Chime's business model centers on building primary account relationships with members, generating revenue primarily from interchange fees on card transactions rather than fees paid directly by members. The company leverages proprietary technology, including its ChimeCore payment processor and machine learning platforms, to drive product innovation, risk management, and member engagement. Chime's product suite addresses critical financial needs such as spending, saving, credit building, and liquidity access, all delivered via a mobile application. The company has received notable brand recognition and continues to pursue growth through member acquisition, product expansion, and employer channel initiatives.

Keysight Technologies, Inc. is a global provider of electronic design, test, and measurement solutions serving diverse markets including communications, aerospace, defense, automotive, semiconductor, and industrial sectors. The company operates through two main segments: Communications Solutions Group (CSG), which focuses on wireless, wireline, enterprise, aerospace, defense, and government markets; and Electronic Industrial Solutions Group (EISG), which serves automotive, energy, semiconductor, and general electronics markets. Keysight's products and services support customers in the design, simulation, validation, manufacturing, installation, and optimization of electronic systems and components. The company’s recent acquisition of Spirent enhances its wireless network test and assurance capabilities. Keysight’s business model centers on enabling customers’ R&D investments in next-generation technologies such as 5G/6G, AI, quantum computing, high-speed data center networks, satellite communications, industrial IoT, defense modernization, and electric/autonomous vehicles. The company reported strong revenue growth and profitability in its latest quarter, supported by broad geographic and end-market demand.

WEBTOON Entertainment Inc. is a global storytelling platform that connects a large community of creators and users to discover, create, and share digital content. The platform supports both amateur and professional creators, offering monetization opportunities through Paid Content, advertising, and IP Adaptations. Content is primarily delivered in serialized web-comic and web-novel formats optimized for mobile consumption. The company’s technology infrastructure, supported by NAVER’s cloud and AI capabilities, enables scalable content creation, personalized recommendations, and community engagement. Marketing strategies are regionally tailored, balancing organic growth and paid user acquisition. The company faces competition from social media, OTT platforms, gaming, and streaming services, as well as specialized web-comic and web-novel platforms in key markets. Financially, WEBTOON reported $1.38 billion in revenue and a net loss of $345.9 million for the year ended December 31, 2025, with strong liquidity metrics.

aTyr Pharma is a clinical-stage biotech company leveraging evolutionary intelligence to develop therapies targeting fibrosis and inflammation through novel tRNA synthetase biology. The company’s lead product candidate, efzofitimod, is a biologic immunomodulator in clinical development for interstitial lung diseases (ILD), including pulmonary sarcoidosis and systemic sclerosis-associated ILD (SSc-ILD). Efzofitimod modulates activated myeloid cells via neuropilin-2 to resolve inflammation without immune suppression and potentially prevent fibrosis progression. The company has received orphan drug and Fast Track designations for efzofitimod in the US, Europe, and Japan. The EFZO-FIT Phase 3 trial in pulmonary sarcoidosis did not meet its primary endpoint of corticosteroid dose reduction but showed nominal improvements in quality of life and steroid-free status. aTyr plans a regulatory meeting with the FDA to discuss the path forward. The EFZO-CONNECT Phase 2 study in SSc-ILD is ongoing with interim positive signals. aTyr also develops additional pipeline candidates ATYR0101 and ATYR0750 targeting fibrotic and inflammatory pathways. The company collaborates with Kyorin for development and commercialization in Japan. aTyr has incurred net losses since inception and reported a net loss of $74.1 million for 2025. As of December 31, 2025, it held $10.7 million in cash and equivalents and $80.2 million in current assets, with a current ratio of 5.3, indicating liquidity to fund operations for at least one year. The company finances operations primarily through equity offerings and collaborations. Risks include regulatory uncertainty, clinical trial challenges, and capital needs.

Rumble Inc. was founded in 2013 to provide a video platform focused on empowering small creators with tools and distribution, growing its user base significantly since 2020. The company operates two main business units: Rumble Services and Rumble Cloud. Rumble Services includes a free and subscription-based video sharing platform (Rumble Video), a livestreaming and monetization service (Rumble Studio), an in-house advertising marketplace (Rumble Advertising Center), and a non-custodial crypto wallet (Rumble Wallet) supporting multiple cryptocurrencies. Rumble Cloud offers infrastructure as a service (IaaS) with compute, storage, and networking capabilities, designed to support a wide range of customers from startups to enterprises. The company has pursued growth through content investment, advertising platform development, infrastructure expansion, and strategic acquisitions, including a pending business combination with Northern Data to enhance AI infrastructure offerings. Rumble's revenue model includes advertising, subscriptions, pay-per-view, and tipping, with revenue sharing for creators. The company faces competition from major video platforms and cloud hyperscalers and operates under evolving regulatory environments affecting content, cryptocurrency, and data privacy.

Nutex Health, Inc. is a healthcare services and operations company focused on developing and operating micro-hospitals, specialty hospitals, and hospital outpatient departments across 12 states. The company also operates a population health management division that manages independent physician associations (IPAs). Nutex’s hospital division provides comprehensive 24/7 care including emergency, inpatient, behavioral health, imaging, laboratory, and pharmacy services. The company employs 944 full-time employees and partners with thousands of physicians through its IPA networks. Nutex’s business model includes ownership and operation of hospital facilities, physician staffing through physician LLCs, and real estate entities that own hospital properties. The company generally operates as an out-of-network provider but plans to contract with more commercial payors. Nutex’s growth strategy includes expanding its micro-hospital network and IPA presence, leveraging physician partnerships, and providing concierge-level patient care. The company reported $875.3 million in total revenue and $70.8 million in net income attributable to Nutex for 2025, with strong liquidity and capital resources.

ESS Tech, Inc. is an energy storage technology company headquartered in Wilsonville, Oregon. It is publicly traded on the New York Stock Exchange under the ticker GWH. The company is engaged in developing and commercializing battery and energy storage solutions, having recently shifted its business focus from legacy activities to an Energy Base model. ESS Tech has undertaken capital raising activities including a registered direct offering and an at-the-market offering program to support its operations and working capital needs. Leadership changes include the appointment of Drew Buckley as CEO in early 2026. Financial disclosures for the fiscal year ended December 31, 2025, show a net loss and negative earnings per share, with liquidity ratios indicating a modestly positive current ratio and cash position. The company is actively managing its debt obligations and focusing on cost discipline to improve operational results.

Wheeler Real Estate Investment Trust, Inc. operates as a real estate investment trust focused on owning, leasing, and managing grocery-anchored retail centers and other necessity-based retail properties. Its portfolio consists of 65 properties, including 62 retail shopping centers and three undeveloped land parcels, primarily located in the Mid-Atlantic, Southeast, and Northeast regions of the United States. The company targets properties in secondary and tertiary markets with stable demographics and consistent tenant sales trends. It employs triple net leases, where tenants reimburse most operating expenses, and focuses on maintaining high occupancy through active lease management. Capital is selectively allocated to property improvements and portfolio recycling to enhance returns and optimize the capital structure. The company also manages risks related to environmental compliance, insurance coverage, and cybersecurity.

NCS Multistage Holdings, Inc. specializes in products and support services that optimize oil and natural gas well construction, completion, and field development, primarily for wells with horizontal laterals in North America and select international markets. Its core offerings include fracturing systems products and services that enable pinpoint stimulation, enhanced recovery systems, well construction products, tracer diagnostics services, and a controlling interest in Repeat Precision, LLC, which supplies frac plugs and related tools. The company’s revenue is largely derived from consumable products linked to completion and production activity. NCS holds a significant patent portfolio and maintains in-house R&D capabilities. Its business strategy focuses on expanding market share, innovating technology, maintaining financial strength, and pursuing selective acquisitions and partnerships. The company serves a broad customer base including major and independent oil and gas producers, with geographic revenue concentration in Canada and the U.S.

Contineum Therapeutics is a clinical-stage biopharmaceutical company pioneering differentiated small molecule therapies targeting innate biological pathways for neuroinflammation and immunology (NI&I) indications with significant unmet medical need. The company’s pipeline includes two clinical-stage drug candidates: PIPE-791, a brain-penetrant LPA1 receptor antagonist in development for idiopathic pulmonary fibrosis (IPF) and chronic pain, and PIPE-307, a selective muscarinic type 1 receptor inhibitor in development for major depressive disorder (MDD) and relapse-remitting multiple sclerosis (RRMS) in collaboration with Johnson & Johnson (J&J). PIPE-791 has demonstrated promising preclinical and Phase 1 data, including positive Phase 1b PET imaging results supporting dose selection for a Phase 2 IPF trial initiated in December 2025. PIPE-307 has completed Phase 1 trials, with J&J conducting Phase 2 studies. The company’s strategy emphasizes leveraging external clinical validation, minimizing clinical risk, and building a franchise of synergistic therapeutics. Contineum maintains a strong patent portfolio and relies on contract manufacturing for drug production. Financially, as of December 31, 2025, the company held substantial cash and short-term investments with a strong liquidity position but reported a net loss for the year.

Caribou Biosciences, Inc. is a clinical-stage biopharmaceutical company focused on developing transformative therapies using its proprietary CRISPR chRDNA genome-editing platform. The company engineers allogeneic CAR-T cell therapies manufactured from healthy donor cells, aiming to provide off-the-shelf treatments with broad patient access, rapid administration, and scalable manufacturing. Its pipeline includes two clinical-stage candidates: vispacabtagene regedleucel (vispa-cel), targeting CD19 for relapsed or refractory B cell non-Hodgkin lymphoma, and CB-011, targeting BCMA for relapsed or refractory multiple myeloma. The chRDNA technology enhances editing specificity and efficiency, enabling multiplex genome editing with reduced off-target effects. Caribou applies genome-editing strategies such as PD-1 checkpoint disruption and immune cloaking to improve CAR-T cell activity and persistence. The company relies on third-party contract manufacturing organizations for clinical supply and materials. Financially, Caribou has incurred significant losses since inception, with no product revenue to date, and maintains liquidity through cash, cash equivalents, and marketable securities. The company has undergone strategic pipeline prioritization and workforce reductions to focus on its lead candidates.

TriSalus Life Sciences, Inc. operates in the medical device and therapeutics sector, focusing on the development and commercialization of its proprietary PEDD infusion systems, primarily the TriNav product, and drug candidates such as nelitolimod. The company sells directly to hospitals and clinics, recognizing revenue upon shipment of products. TriSalus does not have long-term contractual commitments with customers, and consignment agreements can be terminated with short notice, which introduces uncertainty in future revenue streams. The company relies on third-party manufacturers and suppliers for production and faces risks related to supply chain constraints, manufacturing scale-up, and regulatory compliance. TriSalus has experienced revenue growth driven by increased sales of TriNav units but continues to incur net losses as it invests in research and development, sales and marketing, and general administrative expenses. Liquidity is supported by cash reserves and recent capital raises, but the company remains dependent on additional financing and compliance with debt covenants. Key risks include customer concentration, regulatory challenges, supply chain dependencies, and retention of key personnel.

Cedar Realty Trust, Inc. operates as a real estate investment trust focused on owning and managing income-producing retail properties, with a primary emphasis on grocery-anchored shopping centers located predominantly in the Northeastern United States. The company conducts its business through an Operating Partnership, which holds substantially all assets. Revenue is primarily generated from rents and operating expense reimbursements under lease agreements. The company pursues a strategy centered on necessities-based retail properties, aiming for stable revenue streams even in challenging economic environments. In recent years, Cedar Realty Trust has actively managed its portfolio through property investments, dispositions, and capital management initiatives including credit facilities and preferred stock repurchase programs. Leasing activity includes renewals and new leases with generally positive rent rate trends. The company is a subsidiary of WHLR, which provides property management and leasing services under contractual agreements.

Camp4 Therapeutics Corp is a clinical-stage biopharmaceutical company pioneering a novel class of RNA-targeting therapeutics designed to upregulate gene expression and restore protein levels to treat genetic diseases. The company’s proprietary RAP Platform enables identification and characterization of regulatory RNAs (regRNAs) that control gene expression, facilitating the design of antisense oligonucleotide (ASO) candidates to increase target gene expression in a specific and tunable manner. Camp4’s lead product candidate, CMP-002, is an intrathecally delivered ASO targeting SYNGAP1-related disorder, a severe developmental and epileptic encephalopathy caused by haploinsufficiency of the SYNGAP1 gene. Preclinical studies demonstrated dose-dependent increases in SYNGAP protein and improvements in behavioral phenotypes in animal models. The company has initiated GLP toxicology studies to support clinical trial applications and plans to initiate a global Phase 1/2 clinical trial pending regulatory clearance. Camp4 also has a collaboration with GlaxoSmithKline to develop ASO therapeutics targeting regRNAs for neurodegenerative and kidney diseases. Financially, Camp4 reported $3.5 million in revenue and a net loss of $80.4 million for the year ended December 31, 2025, with strong liquidity of $109.5 million in cash and equivalents. The company continues to incur losses and requires additional capital to fund ongoing development and commercialization efforts.

Evommune, Inc. is a clinical-stage biotechnology company focused on developing innovative therapies targeting key drivers of chronic inflammatory diseases, including chronic spontaneous urticaria, atopic dermatitis, and ulcerative colitis. The company’s lead product candidates, EVO756 and EVO301, are in Phase 2 clinical development. Evommune has established strategic collaborations and licensing agreements with Dermira, Maruho, and AprilBio, which provide upfront payments, milestone payments, and royalties contingent on future development and sales. The company completed its initial public offering in November 2025 and trades on the NYSE under the ticker EVMN. As of December 31, 2025, Evommune held substantial cash, cash equivalents, and investments, supporting its operations and development activities. The company has incurred significant operating losses since inception and continues to invest heavily in research and development and general administrative functions. Recent clinical data releases have shown positive results for EVO301 in atopic dermatitis, contributing to market interest and coverage.

Hawthorn Bancshares Inc is a Missouri-based financial holding company owning Hawthorn Bank and other subsidiaries. The company operates primarily in Missouri with a focus on community banking through its Bank segment, which offers a broad range of deposit, lending, and brokerage services. The Wealth Management segment, established as a separate reportable segment in 2025, provides financial and investment planning services including trust services. The Bank has 18 offices and serves commercial and consumer customers in primary and secondary service areas within Missouri. The company is regulated by the Federal Reserve Board as a bank holding company and by the FDIC and Missouri Division of Finance for the Bank. It emphasizes employee engagement and community involvement. The company reported net income of $23.8 million and EPS of $3.44 for 2025, with a strong capital position and liquidity. Recent news highlights include earnings growth, dividend increases, leadership changes, and shareholder composition.

A.K.A. BRANDS HOLDING CORP. is a publicly traded company on the NYSE under the ticker AKA. The company operates with a financial structure that includes revolving credit commitments and term loans secured under an amended credit agreement effective October 2025. The latest annual and quarterly SEC filings provide financial data showing a net loss for 2025 and liquidity ratios indicating moderate short-term financial stability. The company’s risk factors have not materially changed since the prior year. Public news coverage focuses on quarterly earnings results, revenue trends, and analyst recommendations.

BCP Investment Corporation is an externally managed, non-diversified closed-end investment company regulated as a business development company (BDC). It primarily invests in secured term loans, bonds, mezzanine debt, and occasionally equity securities in privately-held middle market companies, defined by EBITDA and debt size thresholds. The Adviser, an affiliate of BC Partners LLP, manages the company’s investment activities, including sourcing, diligence, structuring, and monitoring. The portfolio is diversified across multiple industries and entities, with a focus on generating current income and capital preservation. BCIC has completed several mergers, including the acquisition of Logan Ridge Finance Corporation in 2025, which was accounted for as an asset acquisition with a purchase discount recognized. The company elects to be treated as a regulated investment company for tax purposes and distributes substantially all taxable income to stockholders. As of the end of 2025, BCIC held approximately $501 million in investments at fair value and reported net income of $11.5 million for the fiscal year [S1][S2].

EyePoint, Inc. is a clinical-stage biopharmaceutical company focused on innovative treatments for serious retinal diseases. The company leverages its proprietary Durasert E™ bioerodible drug delivery technology to develop sustained intraocular therapies. Its lead product candidate, DURAVYU™, combines vorolanib, a selective tyrosine kinase inhibitor, with Durasert E™ technology and is undergoing Phase 3 pivotal trials for wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME). The wet AMD Phase 3 trials (LUGANO and LUCIA) completed enrollment in 2025, with data readouts anticipated starting mid-2026. The DME Phase 3 trials (COMO and CAPRI) began dosing patients in early 2026. EyePoint also develops EYP-2301, a TIE-2 agonist in preclinical development. The company operates manufacturing facilities in Watertown and Northbridge, Massachusetts, with the latter opened in 2024 to support potential commercial manufacturing. EyePoint sources the active pharmaceutical ingredient vorolanib from a single supplier and other components from third parties, mostly sole-sourced. The company has a history of operating losses and finances operations through equity sales, debt, and collaboration revenues. It reported a net loss of $231.96 million for the fiscal year ended December 31, 2025, with cash and equivalents of $101.8 million and strong liquidity ratios. Risks include capital requirements, clinical and regulatory uncertainties, supplier dependencies, and concentrated stock ownership.

Smith & Wesson Brands, Inc. is a publicly traded company known primarily for manufacturing firearms. The company is listed on the Nasdaq Global Select Market under the ticker SWBI. It operates in the firearms industry, with a focus on handgun production and sales. The company provides quarterly financial disclosures and earnings transcripts that offer insights into its operational performance and financial condition. As of the latest quarter ending January 31, 2026, Smith & Wesson reported net income and earnings per share, along with liquidity metrics indicating a strong current ratio. The company has also engaged in credit agreement amendments to manage its indebtedness and financial covenants.

REGENXBIO Inc. is a biotechnology company specializing in gene therapy development using its NAV Technology Platform. The company licenses its technology and intellectual property to pharmaceutical and biotechnology partners, generating revenue from upfront fees, milestones, royalties, and service fees. It has active collaborations with AbbVie and Nippon Shinyaku for the development and commercialization of gene therapy candidates targeting diseases such as MPS I and II. The company is clinical-stage, with multiple ongoing clinical trials. REGENXBIO has incurred significant cumulative losses since inception and depends on successful product development, regulatory approvals, and capital raising to achieve profitability.

ContextLogic Holdings Inc. historically operated a marketplace and logistics business primarily through the Wish platform, generating revenue from merchant commissions and logistics services. In April 2024, the company sold these operations to Qoo10, ceasing revenue generation from these activities. Following the asset sale, the company reorganized in 2025, creating a holding company structure to preserve tax benefits and enhance acquisition flexibility. The company acquired US Salt and its subsidiaries in a transaction valued at approximately $908 million, financed through a combination of cash, equity rollover, term loans, and a rights offering. As of December 31, 2025, the company holds significant cash and marketable securities and reports no operating revenue, focusing on administrative costs and integration of the new acquisition. The company’s prior marketplace business was concentrated in China, and it no longer operates reportable segments post asset sale.

Citizens Community Bancorp Inc. is a bank holding company headquartered in the Midwest, with its banking subsidiary operating 21 branches primarily in Wisconsin and Minnesota. The Bank offers a range of traditional community banking products and services including commercial, agricultural, consumer, and residential mortgage loans. The company’s revenue is principally derived from dividends paid by the Bank. The company is regulated by the Federal Reserve and the OCC. The loan portfolio is diversified with a significant portion in commercial real estate loans secured by real estate. The company manages liquidity through deposits, loan repayments, investment securities, and access to borrowing facilities. The company has a stock repurchase program and pays dividends subject to regulatory approval and financial performance. The company’s financial results for 2025 show growth in net income and earnings per share, supported by improved net interest margin and non-interest income. The company’s balance sheet optimization strategy in 2025 involved runoff of non-strategic loans and reduction of borrowings.

Grove Collaborative Holdings, Inc. was founded in 2012 as an online retailer of natural household, beauty, and personal care products. It has evolved into a human health and sustainability-oriented consumer products company that creates and curates planet-first, high-performance brands. The company operates a direct-to-consumer (DTC) ecommerce platform selling both Grove-owned brands and over 400 third-party natural and mission-based brands, offering more than 7,000 products. Grove's flagship brand, Grove Co., focuses on sustainable home care products with minimal or no single-use plastic packaging. The company is a public benefit corporation and Certified B Corporation, emphasizing social, environmental, and community well-being. Grove has invested heavily in building its DTC platform and brand portfolio but has experienced revenue declines in recent years due to strategic shifts and ecommerce platform migration. It completed the wind down of its brick-and-mortar retail business in 2025 to focus on ecommerce channels. Grove maintains a diversified global supply chain with strong social compliance standards and operates two fulfillment centers to support fast delivery. Sustainability initiatives include plastic neutrality, carbon neutrality, science-based emissions targets, and forest conservation partnerships. The company serves a broad and diverse customer base across the United States.

Orion Properties Inc. operates as an internally managed REIT specializing in office and dedicated use commercial properties primarily in suburban U.S. markets. Its portfolio includes traditional office buildings and specialized assets such as governmental, medical, laboratory, R&D, and flex/industrial properties. The company leases primarily on a single-tenant net lease basis to creditworthy tenants, with a strategic focus on shifting towards dedicated use assets that have higher tenant utilization and renewal probability. Orion's portfolio spans 58 operating properties totaling 6.5 million leasable square feet, with additional interests in joint ventures. The company emphasizes active asset management, capital recycling, and geographic focus on Sun Belt and similar markets. Orion uses leverage prudently and maintains a vertically integrated platform to enhance operational efficiency and tenant relationships.

ArriVent BioPharma, Inc. is a clinical-stage biopharmaceutical company established in 2021, focused on developing novel pharmaceutical products primarily for oncology indications. Its lead product candidate is firmonertinib, targeting non-small cell lung cancer (NSCLC) patients with specific EGFR mutations. The company has not yet commercialized any products and has no revenue. It relies on exclusive licenses from partners such as Allist and Lepu Biopharma for intellectual property and depends on third-party manufacturers, including those in China, for clinical and potential commercial supply. ArriVent has incurred substantial operating losses since inception and continues to invest heavily in clinical development and regulatory activities. The company maintains a strong liquidity position as of December 31, 2025, with cash, short-term investments, and current assets significantly exceeding current liabilities. Recent developments include clinical data releases, capital raising initiatives, and analyst coverage initiations with positive recommendations.

Phio Pharmaceuticals Corp. is a clinical-stage pharmaceutical company engaged in the development of drug candidates targeting skin cancer, notably PH-762. The company has reported progress in clinical trials, including positive safety reviews and initiation of toxicology studies. Financially, Phio reported a net loss for fiscal year 2025 but maintains strong liquidity with over $21 million in cash and equivalents as of year-end 2025. The company has undertaken equity offerings to support operations and has amended executive employment agreements to adjust severance and bonus terms. Risks include potential challenges in maintaining Nasdaq listing compliance and supply chain disruptions due to trade policy changes.

Ambiq Micro, Inc. develops and sells ultra-low power semiconductor solutions designed to address power consumption challenges in general purpose and AI compute, particularly at the edge. Its proprietary SPOT® platform enables significant power savings without costly manufacturing processes. The company offers integrated hardware and software solutions including SoCs that support AI processing, sensing, security, and connectivity. Its products are used in wearable devices, AR/VR, healthcare monitors, security systems, and industrial applications. Ambiq focuses on expanding AI adoption at the edge to enable faster, more energy-efficient, and privacy-conscious computing. The company’s sales are shifting geographically away from Mainland China toward the US, Europe, and other Asian markets. Ambiq completed its IPO in mid-2025 and a follow-on offering in early 2026, strengthening its financial position. The business is characterized by high customer concentration and exposure to semiconductor industry cyclicality and geopolitical risks related to its sole wafer supplier, TSMC.

Allient Inc. operates globally, designing and manufacturing a broad range of precision and specialty controlled motion components and systems. Its product portfolio includes various motor technologies, motion controllers, encoders, power quality filters, and industrial communication modules. The company serves diverse markets including Industrial automation, Vehicle systems, Medical devices, and Aerospace & Defense applications. Sales are conducted through a direct sales force and authorized representatives worldwide, supported by Solution Centers that provide design, integration, and testing services. The company has pursued strategic acquisitions to enhance its technology pillars of Motion, Controls, and Power, and has implemented operational realignment initiatives to improve efficiency and profitability. Its revenue for 2025 was $554.5 million, with a net income of $22.0 million and a strong liquidity position. The company maintains a Code of Ethics and publishes sustainability reports addressing environmental and governance matters [S1].