Net asset value per share was $5.19 as of December 31, 2025, which includes the effects of distributions of $0.24 per share for the quarter. “The fourth calendar quarter was challenging for the CLO equity market. For Ellington Credit (EARN), our relative up-in-credit bias and active trading strategy helped partially offset the challenges, as CLO mezzanine debt tranches, which have been a focus of our investment activity in recent months, proved more resilient, and with opportunistic trading contributing positively to results,” said Laurence Penn, Chief Executive Officer and President.
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