[SCHEDULE 13G/A] Oxford Lane Capital Corp. 6.25% Series 2027 Term Preferred Shares SEC Filing

Rhea-AI Filing Summary

Karpus Management, Inc. reported beneficial ownership of 825,914 preferred shares of Oxford Lane Capital Corp. (CUSIP 691543854), representing 5.38% of the class. Karpus states it has sole voting and dispositive power over these shares and that the securities are owned directly by accounts it manages. Karpus is a New York-registered investment adviser controlled by City of London Investment Group plc, but says effective informational barriers are in place so Karpus exercises voting and investment power independently. The filing certifies the shares were acquired and are held in the ordinary course of business and not to influence control of the issuer.

Positive

• Karpus reports a clear, transparent ownership position of 825,914 preferred shares (5.38%) with detailed voting and dispositive powers
• Sole voting and dispositive power is explicitly stated, clarifying who controls vote and disposition for these shares
• Informational barriers with the parent (City of London Investment Group plc) are disclosed, reducing attribution ambiguity

Negative

• None.

Insights

Financial Analyst

TL;DR A registered adviser discloses a >5% preferred stake with sole voting/dispositive power, notable for holdings transparency.

The disclosure shows Karpus holds a non-controlling but reportable 5.38% position in Oxford Lane Capital Corp.'s preferred class (CUSIP 691543854). Sole voting and dispositive power implies Karpus can act independently on these shares held in managed accounts. The adviser explicitly notes informational barriers with its parent, limiting attribution. For investors, this is a routine institutional ownership disclosure that improves transparency about the shareholder base.

Corporate Governance Expert

TL;DR Ownership disclosure signals an institutional holder with direct control of voting rights but no stated intent to seek control.

Karpus certifies the holdings are in the ordinary course of business and not intended to change issuer control, which is a standard governance assurance. The filing identifies sole voting and dispositive authority over 825,914 preferred shares and documents the existence of informational barriers with the parent company. This clarifies potential influence and limits automatic attribution to the parent, aiding assessment of investor alignment and governance dynamics.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Oxford Lane Capital Corp.

(Name of Issuer)

Preferred

(Title of Class of Securities)

691543854

(CUSIP Number)

06/30/2025

(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. 691543854

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 825,914.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 825,914.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

825,914.00

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)

5.38 %

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.: 691543854
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: 825,914.00
(b)	Percent of class: 5.38 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 825,914.00
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 825,914.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
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:	08/14/2025

FAQ

How many Oxford Lane Capital Corp. preferred shares does Karpus Management (OXLCP) own?

Karpus Management owns 825,914 preferred shares of Oxford Lane Capital Corp. (CUSIP 691543854), as reported in the filing.

What percentage of the preferred class does Karpus Management hold in OXLCP?

5.38% of the preferred class is represented by Karpus Management's reported holdings.

Does Karpus Management have voting control over the reported OXLCP shares?

Yes. The filing states Karpus has sole voting power and sole dispositive power over the 825,914 shares.

Are the OXLCP shares held by Karpus intended to influence control of the issuer?

No. Karpus certifies the shares were acquired and are held in the ordinary course of business and not to change or influence control of the issuer.

Who actually owns the reported OXLCP shares?

The shares are owned directly by accounts managed by Karpus Management, Inc.