Here are the 10-K annual reports from STELLUS CAPITAL INVESTMENT CORPORATION (SCM) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow SCM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SCM filings page.
Stellus Capital Investment Corporation is an externally managed business development company that provides debt and related equity financing to private U.S. lower middle‑market companies, generally with $5 million to $50 million of EBITDA. It focuses on first lien (including unitranche), second lien, unsecured loans and equity co‑investments, often to highly leveraged borrowers that would likely be rated as junk if evaluated by rating agencies.
The portfolio is sourced through Stellus Capital Management’s sponsor and intermediary network. Stellus operates under a co‑investment exemptive order that allows it to invest alongside affiliated BDCs and private funds when a required majority of independent directors determines the terms are fair and consistent with its strategy. As of December 31, 2025, Stellus met regulated investment company tax requirements and BDC qualifying‑asset rules, which mandate that at least 70% of total assets be invested in qualifying U.S. portfolio companies, including private firms and certain smaller public issuers under a $250 million market capitalization threshold.