SuRo Capital Corp.
- Open
- 10.98
- Day high
- 11.00
- Day low
- 10.09
- Prev close
- 10.33
- Volume
- 450K
- Mkt cap
- $299M
- P/E (TTM)
- 1.4
- EPS (TTM)
- $7.68
- P/B
- 0.8
- P/S
- 4.6
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$6K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions reducing (13F)
SuRo Capital Corp. (SSSS) is a Financial Services company listed on NASDAQ. The stock is up 23% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
SuRo Capital Corp. (SSSS) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SSSS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $-0.15 | $-0.16 | -3.2% | $731963 | +30.5% |
| Mar 10, 2026 | $-0.12 | $-0.23 | -100.0% | $7M | +2855.0% |
| Aug 6, 2025 | $-0.17 | $-0.16 | +5.9% | $167304 | -66.5% |
| Mar 11, 2025 | $-0.19 | $-0.11 | +42.1% | $1M | +149.9% |
| Nov 7, 2024 | $-0.15 | $-0.14 | +6.7% | $888717 | +80.6% |
| Mar 13, 2024 | $-0.14 | $-0.11 | +21.4% | $2M | +123.6% |
| Nov 8, 2023 | $-0.12 | $-0.11 | +8.3% | $1M | +33.2% |
| Mar 15, 2023 | $0.10 | $-0.10 | -201.0% | $1M | +180.5% |
| Aug 3, 2022 | $0.39 | $-0.12 | -130.8% | $890631 | +52.1% |
| May 4, 2022 | $-1.03 | $-0.14 | +86.4% | $583100 | +58.6% |
| Mar 9, 2022 | $2.23 | $-0.34 | -115.2% | $380754 | -28.2% |
| Nov 3, 2021 | — | $-0.08 | — | $523916 | -12.7% |
SSSS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 25, 2026 | LOTT RONALD M.director | Sell | 500 | $12.35 |
| Jun 16, 2026 | Green Allisonofficer: See Remarks | Grant | 60,000 | — |
| Jun 16, 2026 | Green Allisonofficer: See Remarks | Tax | 41,815 | $13.56 |
| Jun 16, 2026 | Klein Mark Ddirector, officer: Chairman, CEO and President | Tax | 293,265 | $13.56 |
| Jun 16, 2026 | Klein Mark Ddirector, officer: Chairman, CEO and President | Grant | 350,000 | — |
| Jun 12, 2026 | Mazur Marcdirector | Grant | 3,536 | — |
| Jun 12, 2026 | Szuch Richard C.director | Grant | 3,536 | — |
| Jun 12, 2026 | LOTT RONALD M.director | Grant | 3,536 | — |
| Jun 12, 2026 | Potter Leonarddirector | Grant | 3,536 | — |
| Jun 12, 2026 | Westley Lisadirector | Grant | 3,536 | — |
| Apr 30, 2026 | LOTT RONALD M.director | Sell | 10,669 | $12.90 |
| Apr 22, 2026 | Klein Mark Ddirector, officer: Chairman, CEO and President | Buy | 2,500 | $13.08 |
| Dec 16, 2025 | Klein Mark Ddirector, officer: Chairman, CEO and President | Tax | 17,017 | $9.59 |
| Dec 16, 2025 | Green Allisonofficer: See Remarks | Tax | 4,232 | $9.59 |
| Nov 25, 2025 | Green Allisonofficer: See Remarks | Grant | 956 | — |
Source: SSSS SEC Form 4 filings, latest Jun 25, 2026. For informational purposes only — not investment advice.
See the full SSSS insider & 13F page →SuRo Capital Corp. company profile
Overview
SuRo Capital Corp. (NASDAQ:SSSS) is a business development company founded in 2010 and headquartered in San Francisco, California. The company went public in April 2011 with a specialized focus on investing in late-stage, venture capital-backed private companies that are expected to remain private longer than traditional growth companies. Originally established with the thesis that technology companies would delay going public compared to historical norms, SuRo Capital has evolved into a prominent investor in high-growth private technology companies, with particular emphasis on artificial intelligence infrastructure, software-as-a-service platforms, and consumer technology businesses.
Business
SuRo Capital operates as a business development company (BDC), which is a specialized type of investment vehicle regulated under the Investment Company Act of 1940. BDCs are designed to provide capital to small and medium-sized businesses, but SuRo Capital has carved out a unique niche by focusing exclusively on late-stage private companies that have already achieved significant scale and market validation. The company's investment portfolio is diversified across several technology sectors. As of the most recent quarter, the portfolio allocation includes: 1. Artificial Intelligence Infrastructure & Applications (28% of portfolio) - This represents SuRo's largest sector concentration, including investments in companies like OpenAI (the creator of ChatGPT), CoreWeave (AI cloud computing infrastructure), and Vast Data (data storage solutions for AI workloads). These companies provide the fundamental computing power, software platforms, and data management systems that enable artificial intelligence applications. 2. Software-as-a-Service (22% of portfolio) - This segment includes cloud-based software companies that provide subscription-based services to businesses and consumers. Notable holdings include ServiceTitan (field service management software) and Canva (online design platform). 3. Consumer Goods & Services (17% of portfolio) - This category encompasses direct-to-consumer brands and consumer-facing technology platforms, including investments in companies like WHOOP (fitness wearables) and Liquid Death (premium canned water brand). 4. Financial Technology & Services (12% of portfolio) - Companies that provide technology-enabled financial services, including Plaid (financial data connectivity) and Blink Health (prescription drug pricing platform). 5. Education Technology (12% of portfolio) - Led by Learneo, an online education platform that has expanded through acquisitions of AI-powered educational tools. 6. Logistics & Supply Chain (8% of portfolio) - Including companies like Locus Robotics that provide automation solutions for warehouse operations. 7. SuRo Sports (2% of portfolio) - A smaller allocation to sports-related technology investments. The company typically invests between $5 million to $25 million per company, focusing on businesses that have achieved substantial revenue scale and are approaching potential initial public offerings or acquisition opportunities.
Revenue model
SuRo Capital generates revenue through multiple streams typical of investment companies. The primary revenue sources include dividend income from portfolio companies, interest income from debt investments and cash holdings, and most significantly, realized capital gains from the sale of investments when portfolio companies go public or are acquired. The company's business model is fundamentally based on capital appreciation rather than steady income generation. SuRo Capital purchases equity stakes in private companies at pre-IPO valuations, then realizes gains when these companies achieve liquidity events such as initial public offerings, acquisitions, or secondary market sales. The investment thesis relies on identifying companies that will experience significant valuation increases between the time of investment and eventual exit. The paying customers in this model are essentially the limited partners and shareholders of SuRo Capital itself, who provide capital in exchange for exposure to a diversified portfolio of late-stage private companies that would otherwise be inaccessible to individual investors. As a publicly traded BDC, SuRo Capital democratizes access to venture capital-style investments. Several factors can significantly impact SuRo Capital's margins and returns. Positive factors include robust IPO markets that provide exit opportunities, strong performance of artificial intelligence and technology sectors, continued private market growth, and successful execution by portfolio companies. The company has positioned itself well in the current AI boom, with 28% of its portfolio allocated to AI infrastructure companies that have seen substantial valuation increases. Negative factors include prolonged IPO market closures that delay exit opportunities, broader technology sector downturns, rising interest rates that compress technology valuations, increased competition for late-stage investment opportunities, and operational challenges at portfolio companies. The company's performance is also sensitive to broader venture capital market conditions, as many of its investments are made in secondary markets where pricing depends on overall private market sentiment. The company's expense structure includes management fees, operational costs, and interest expenses on its convertible debt, which totaled approximately $35 million as of the most recent quarter. These fixed costs create operating leverage, meaning that investment gains have a magnified positive impact on net returns, while investment losses similarly have magnified negative effects.
Competitive moat
SuRo Capital's competitive moat is moderate but not particularly strong, as the company operates in the highly competitive private equity and venture capital ecosystem. The company's primary advantages stem from its established track record and relationships built over 14 years of operation, which provide access to high-quality investment opportunities that may not be available to newer or smaller investment vehicles. The company's public market structure provides some differentiation, as it offers retail and institutional investors access to late-stage private company investments without the typical high minimum investments, long lock-up periods, and accredited investor requirements of traditional venture capital funds. This democratization of access creates a unique value proposition in the market. SuRo Capital has also developed sector expertise, particularly in artificial intelligence infrastructure, which has proven valuable as AI investments have become increasingly important. The company's early investments in OpenAI and CoreWeave demonstrate an ability to identify transformative technology trends before they become mainstream. However, the company faces significant competitive pressures. Large institutional investors such as pension funds, sovereign wealth funds, and family offices have substantially more capital and can often access better investment opportunities at more favorable terms. Traditional venture capital firms with deeper industry relationships and operational expertise pose ongoing competition for the most attractive investment opportunities. Emerging threats include the growth of secondary market platforms and direct investment opportunities that may reduce demand for BDC-style vehicles, potential regulatory changes affecting BDC structures, and the increasing institutionalization of late-stage private markets. Additionally, as private companies stay private longer, the time horizon for realizing returns has extended, which may reduce the attractiveness of the investment model. The company's moat is further limited by the fact that its investment strategy can be replicated by competitors with sufficient capital, and there are no significant barriers preventing new entrants from pursuing similar late-stage private investment strategies.
Risks & safety
SuRo Capital demonstrates strong financial stability with minimal solvency risk, though valuation concerns exist at current levels. • Liquidity and Debt Position: The company maintains excellent liquidity with $20 million in cash and short-term investments. Total debt of $35 million in convertible notes represents a manageable debt-to-equity ratio of 0.22. No immediate refinancing pressures exist. • Cash Flow Characteristics: As an investment company, traditional cash flow metrics are less relevant since the business model depends on capital appreciation rather than operational cash generation. The company has been cash flow negative from operations due to management expenses, but this is typical for BDCs during investment phases. • Valuation Metrics: Current price-to-book ratio of approximately 0.89 suggests the stock trades below net asset value, which could indicate either market skepticism about private company valuations or potential value opportunity. The company's NAV of $6.66 per share compares to a recent stock price around $5.32. • Portfolio Concentration Risk: Top 5 positions represent 46% of the investment portfolio, creating significant concentration risk. Heavy weighting in AI infrastructure (28% of portfolio) creates sector concentration risk despite the sector's current strength. • Market Risk Factors: Private company valuations are subject to significant volatility and may not reflect true market values until liquidity events occur. Extended IPO market closures could impact the ability to realize gains and return capital to shareholders.
Recent development
Over the past few years, SuRo Capital has executed a significant strategic pivot toward artificial intelligence infrastructure investments, transforming from a diversified late-stage technology investor to a company with substantial exposure to the AI boom. This shift has been the company's most important strategic development, with AI infrastructure and applications now representing 28% of the portfolio compared to minimal exposure just two years ago. The company's major AI investments include a $17.5 million stake in OpenAI, which has achieved a potential valuation of $300 billion, and a $25 million total investment in CoreWeave, an AI cloud computing company that completed the largest technology IPO since 2021 and is valued at over $35 billion. Additionally, SuRo invested $12 million in Vast Data, which has achieved over $200 million in annual recurring revenue. Capital structure optimization has been another key focus area. The company repurchased $35.3 million of its 6% notes due 2026 and issued $35 million in new 6.5% convertible notes, extending debt maturities and providing additional flexibility. The company has also expanded its share repurchase program to $64.3 million, demonstrating management's confidence in the portfolio's value relative to the public market price. Portfolio preparation for liquidity events has become increasingly important, with multiple portfolio companies approaching IPO readiness. CoreWeave has already filed its S-1 registration statement, and the company expects potential public offerings from Canva, WHOOP, Liquid Death, and Lime within the next 12-18 months. This anticipated wave of IPOs represents a significant potential catalyst for realizing investment gains. The company has also increased its secondary market investment activity, with over 70% of recent capital deployed in secondary opportunities at significant discounts to previous financing rounds. This strategy allows SuRo to acquire stakes in mature companies at more attractive valuations while providing liquidity to early investors and employees.
SSSS company profile · for informational purposes only — not investment advice.
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