Adding to a Holding on Last Week’s Pullback
| Symbol | Transaction Type (Sell/Buy) | # Shares Traded |
|---|---|---|
| SSSS | Buy | 725 |
After you receive this Alert and when the market opens, the Pro Portfolio will buy 725 shares of SuRo Capital ($SSSS) at or near $12. Following the trade, we will own 18,785 SSSS shares, accounting for roughly 3.75% of the Pro Portfolio’s assets.
We are leaning further into the Portfolio’s position in SuRo Capital using last week’s slump spurred on by reports that OpenAI may push its IPO into 2027. On Friday, we discussed why we see OpenAI’s IPO as an eventual event, and that keeps it as a pending catalyst for SuRo’s investment portfolio and the shares. However, other events should drive SuRo’s net asset value per share higher before that IPO and subsequent monetization.
During the current quarter, a few of SuRo’s portfolio holdings, including ClickHouse and Vast Data, completed capital raises at higher valuations that should step up SuRo’s fair value assessment when it reports its Q2 2026 results. With that in mind, SuRo has a tendency to deliver a preliminary update shortly after the end of the quarter, and if that trend happens, that means we could see it sometime after the July 4th holiday weekend. Once we have that in hand, we’ll revisit our current price target of $17 as needed.
There is also the IPO of Lime (LIME), which is expected to price later this week. The Uber-backed company is offering ~7 million shares, targeting a price range of $24-$26. While we have our own reservations about the company, it’s a relatively small holding in the SuRo lineup, but one that, once the lock-up period passes, should be a source of funds for SuRo. That brings the list of monetizable assets to potentially three, including any remaining CoreWeave ($CRWV) shares in SuRo’s portfolio, as well as GrabAGun ($PEW). We’ll have a clearer picture on that when SuRo shares its Q2 2026 portfolio update.
One other item we want to call to your attention.
Effective July 1, SuRo Capital will rebrand to Neostellar Capital, and its ticker symbol will change to “NSLR” from “SSSS”. That symbol change may take a few days to work across various data feeds. As we move past that branding, Magnetar Capital, an $18 billion multi-strategy asset manager, is expected to invest $20 million in the company. We see that as a means to either fund new investments or help address the debt due later this year. We expect future dividends to be fueled by portfolio monetization, so we will track that activity closely.
The LIME IPO, company rebranding, and the likely Q2 2026 portfolio update mean we’ll have much more to say about SSSS share (and soon NSLR shares) over the next two weeks. On the housekeeping front, as we make today’s move, we will reset our checkpoint for SSSS shares to $11 from $12.
More Pro Portfolio:
- Adding to Our Microsoft Position on Weakness
- 30 Signals Across the Portfolio’s 10 Themes and Strategies
- Weekly Roundup: What We’re Watching as Markets Get Jiggy
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade’s executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long SSSS.
| Symbol | Panic Price |
|---|---|
| SSSS | 11 |
