Karpus discloses 21.52% Oxford Lane (OXLC) preferred stake in 13G/A

Rhea-AI Filing Summary

Oxford Lane Capital Corp. received an updated ownership filing showing that Karpus Management, Inc., doing business as Karpus Investment Management, beneficially owns 516,391 preferred shares, or 21.52% of that class as of 12/31/2025. Karpus has sole voting and dispositive power over all of these shares.

The preferred shares are held in accounts Karpus manages as a registered investment adviser, and the filing states they were acquired and are held in the ordinary course of business. Karpus certifies the holdings are not intended to change or influence control of Oxford Lane Capital Corp.

Insights

Equity ownership and governance analyst

Filing discloses a sizable, passive preferred stake held by an investment adviser.

Karpus Management, Inc. reports beneficial ownership of 516,391 preferred shares of Oxford Lane Capital Corp., representing 21.52% of that class as of 12/31/2025. Karpus holds sole voting and dispositive power through client accounts it manages.

The filing emphasizes that the position is held in the ordinary course of business and not for changing or influencing control. This aligns with a passive investment posture typically associated with Schedule 13G filers, even though the percentage of the preferred class is relatively high.

The statement that effective informational barriers exist between Karpus and its parent, City of London Investment Group plc, helps clarify that beneficial ownership attribution stops at Karpus. Future ownership updates, if any, would appear in subsequent amendments to beneficial ownership reports.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

Oxford Lane Capital Corp.

(Name of Issuer)

Preferred

(Title of Class of Securities)

691543805

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 691543805

1

Names of Reporting Persons

KARPUS MANAGEMENT, INC.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 516,391.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 516,391.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

516,391.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

21.52 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Oxford Lane Capital Corp.
(b)	Address of issuer's principal executive offices: 8 Sound Shore Drive, Suite 255, Greenwich, CT 06830
Item 2.
(a)	Name of person filing: This statement is being filed by Karpus Management, Inc., d/b/a Karpus Investment Management ("Karpus" or the "Reporting Person"). Karpus is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940. Karpus is controlled by City of London Investment Group plc ("CLIG"), which is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between Karpus and CLIG such that voting and investment power over the subject securities is exercised by Karpus independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between Karpus and CLIG. The Shares to which this Schedule 13G relates are owned directly by the accounts managed by Karpus.
(b)	Address or principal business office or, if none, residence: 183 Sully's Trail, Pittsford, New York 14534.
(c)	Citizenship: The members of the Karpus Management Committee are US citizens. Karpus is a New York corporation.
(d)	Title of class of securities: Preferred
(e)	CUSIP No.: 691543805
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 516,391.00
(b)	Percent of class: 21.52 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 516,391.00
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 516,391.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

KARPUS MANAGEMENT, INC.

Signature:	/s/ Jodi L. Hedberg
Name/Title:	Jodi L. Hedberg / Chief Compliance Officer
Date:	02/13/2026

FAQ

What percentage of Oxford Lane Capital Corp. (OXLC) preferred shares does Karpus own?

Karpus Management, Inc. beneficially owns 21.52% of Oxford Lane Capital Corp.’s preferred shares, totaling 516,391 shares. This ownership is reported as of December 31, 2025, with Karpus holding sole voting and sole dispositive power over the entire position.

How many Oxford Lane Capital Corp. (OXLC) preferred shares are beneficially owned by Karpus?

Karpus Management, Inc. beneficially owns 516,391 Oxford Lane Capital Corp. preferred shares. According to the filing, Karpus has sole power to vote and sole power to dispose of these shares, representing 21.52% of the outstanding preferred class as of 12/31/2025.

Is Karpus’s stake in Oxford Lane Capital Corp. (OXLC) considered a passive investment?

Yes. Karpus certifies the Oxford Lane Capital Corp. preferred shares were acquired and are held in the ordinary course of business. The filing states they were not acquired and are not held for the purpose of changing or influencing control of the issuer or participating in such transactions.

Who controls the voting and investment decisions for Karpus’s OXLC preferred shares?

The filing states Karpus has sole voting and sole dispositive power over all 516,391 Oxford Lane Capital Corp. preferred shares. Although Karpus is controlled by City of London Investment Group plc, effective informational barriers mean voting and investment power is exercised independently by Karpus.

Where is Karpus Management, Inc. based and what is its regulatory status?

Karpus Management, Inc., doing business as Karpus Investment Management, is a New York corporation headquartered at 183 Sully's Trail, Pittsford, New York 14534. It is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940.

What class of Oxford Lane Capital Corp. (OXLC) securities is covered in this Karpus filing?

The filing covers preferred shares of Oxford Lane Capital Corp., identified by CUSIP number 691543805. Karpus reports beneficial ownership of these preferred securities, not the common stock, and details its voting and dispositive powers over the preferred class holdings.