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S&P 500 Technology Sector SEC Filings — March 27, 2026

USA S&P 500 Technology

14 high priority11 medium priority25 total filings analysed

Executive Summary

Across 25 SEC filings in the USA S&P 500 Technology stream (despite diverse sectors), proxy season dominates with 12+ DEF 14A/DEFA14A filings for May 2026 annual meetings (AMD May 13, Murphy Oil May 13, CBU May 20, TSQ May 11, CPT), highlighting governance, comp approvals, and equity plans amid mixed financial trends. Period-over-period data shows growth outliers like Community Financial System's 9.7% YoY revenue increase (+$72.1M), 15.4% diluted EPS growth, and Murphy Oil's 3% production rise to 182 MBOEPD with 20% LOE/BOE reduction, contrasted by declines such as Muzinich BDC's 28% YoY investment income drop to $17.1M and AIM ImmunoTech's $82k revenue decrease with halted sales. Tech-specific signals include AMD's proposed +65M share equity plan, Planet Labs' full warrant redemption reducing dilution, and BlockchAIn Digital Infrastructure's $500M+ AI data center LOIs. Capital allocation trends favor shareholder returns (Murphy $286M, CBU 2.2% dividend hike for 33rd year), with auditor changes routine (Sun Communities, Portsmouth Square). No clustered insider trading, but forward-looking catalysts like AIB's webinar and exec transitions (SBA retirement Dec 2026) point to monitoring AI infra demand and governance votes. Portfolio implications: Selective bullishness in growth proxies/AI, caution on income declines/supply risks.

Tracking the trend? Catch up on the prior S&P 500 Technology Sector SEC Filings digest from March 25, 2026.

Investment Signals(12)

  • Community Financial System (CBU)(BULLISH)

    Operating revenues +9.7% YoY (+$72.1M), diluted GAAP EPS +15.4% (+$0.53), operating EPS +16.2% (+$0.59), dividends +2.2% for 33rd year, banking pre-tax income +22%

  • Murphy Oil (MUR)(BULLISH)

    Production +3% YoY to 182 MBOEPD (vs 177 prior), LOE/BOE -20% to $10.89, reserve replacement 103% at 715 MMBOE, $286M shareholder returns from $301M FCF

  • BlockchAIn Digital Infrastructure (AIB)(BULLISH)

    40MW data center $22.9M 2024 revenue/$5.7M net income base, non-binding LOIs for $500M+ (5MW AI >$100M/10yrs + 20MW >$400M/10yrs), Super Micro partnerships

  • Advanced Micro Devices (AMD)(BULLISH)

    Board recommends FOR on 2023 Equity Incentive Plan amendment adding 65M shares post-FY2025 ended Dec 27, signaling growth conviction amid 1.63B shares outstanding

  • Proxy recommends FOR on Amended 2018 Share Incentive Plan and Employee Share Purchase Plan, 8/11 independent board, CEO/Chairman separation March 2026

  • Townsquare Media (TSQ)(BULLISH)

    DEF 14A supports election of experienced directors (Kaplan 67yo since 2010, Wilson CEO since 2019), say-on-pay and auditor ratification for FY2026

  • Employee Retention Plan filed (ref prior 8-K Feb13), enhancing talent stability amid shipping sector volatility

  • Planet Labs (PL)(BULLISH)

    Full redemption of public warrants (PL WS) per 2021 agreement, consolidating Class A shares (PL) ownership base

  • Community Bancorp (CMTV)(BULLISH)

    Diversified banking segments (no subprime), clean unqualified audits by BDMP, full 10-K financials for 2025 vs 2024

  • Murphy Oil (MUR DEF 14A)(BULLISH)

    Strong 2025 recap in proxy with Vietnam/Gulf discoveries, RCF upsized to $2B, board FOR on comp/2026 Stock Plan

  • EVP Treasurer D’Ambrosio new agreement effective Apr1 2026 with $750k base +100% bonus target +$1.4M LTI, retention signal

  • Exec Chairman Campo letter agreement March24 clarifies role/good reason terms, leadership continuity

Risk Flags(10)

  • AIM ImmunoTech (AIMI)/Operational[HIGH RISK]

    Revenue -$82k YoY, Alferon N sales halted due to inventory shortages, no long-term Ampligen suppliers, manufacturing bottlenecks

  • Investment income -28% YoY to $17.1M, net investment income -33% to $12.95M, unrealized depreciation worsened to -$25.7M (vs -$7.4M), ops net assets -$12.8M swing

  • Incentive fees 12.5% on gains, reimbursable expenses for filings, investment curbs on small firms (<$4M assets), RIC qualification risks

  • Dismissed Grant Thornton post-2024 material weakness in risk assessment (remediated 2025), new Deloitte for FY2026

  • No revenues since Oct2025 inception, no max redemption threshold, negative interest risk on Trust, up to $1.5M sponsor loans at $10/unit

  • EVP U.S. Operations Mark Ciarfella retiring Dec31 2026, transition to Mar7 2027, no successor named

  • Significant Ampligen/Alferon risks: supply chain limits, regulatory hurdles, limited final manufacturers

  • 2/3 Côte d’Ivoire wells non-commercial, modest 3% YoY production growth despite discoveries

  • LOIs non-binding ($500M+ prospective), subject to execution risks, not in current revenue, only 4.4M/37.6M shares freely trading

  • Microsoft (MSFT)/Ownership[LOW RISK]

    Vanguard internal realignment Jan12 disaggregates subsidiary holdings, passive >5% but no control influence

Opportunities(10)

Sector Themes(6)

  • Proxy Season Acceleration

    14/25 filings (DEF/DEFA14A) for May 2026 AGMs (AMD/MUR/13th, CBU/20th, TSQ/11th, CPT), unanimous board FOR on comp/auditors/directors/equity plans, implying governance strength [IMPLICATION: Vote catalysts, low dissent risk]

  • Mixed Revenue/Income Trends

    4/8 with PoP data show growth (CBU +9.7% rev, MUR +3% prod) vs declines (Muzinich BDC -28% income, AIMI -$82k rev), avg +2% where positive but outliers drag [IMPLICATION: Selective longs on outperformers]

  • Auditor & Leadership Transitions

    4 filings (Sun dismissal/remediation, Portsmouth appt, CPT exec role clarify, SBA EVP retire Dec2026), mostly routine post-issues [IMPLICATION: Monitor Q2 reports for control impacts]

  • Capital Returns Focus

    Returns/dividends in 3/25 (MUR $286M, CBU +2.2% 33rd year), equity plans expansions (AMD +65M, CPT amended), no buybacks noted [IMPLICATION: Shareholder-friendly amid flat growth]

  • AIB $500M LOIs on 40MW base highlights data center demand, ties to Super Micro; PL imaging tech warrant clean-up [IMPLICATION: Tech infra alpha vs broader mixed sector]

  • Passive Ownership Realignments

    Vanguard 13G/A for MSFT/WMG (Jan12 internal shift, disaggregated subs, passive >5%), no active changes [IMPLICATION: Stable institutional base]

Watch List(8)

Filing Analyses(25)
AIM ImmunoTech Inc.10-Kmixedmateriality 7/10

27-03-2026

For the year ended December 31, 2025, versus 2024, AIM ImmunoTech Inc. (AIMI) reported positive reductions including a $6,014,000 decrease in general and administrative expenses and a $2,273,000 decrease in research and development expenses, alongside smaller gains from investments (+$110,000) and warrants (+$186,000). However, these were offset by negatives such as a $3,977,000 loss from warrant issuance, a $82,000 decrease in revenue, a $2,009,000 drop in interest/other income, and increases in issuance costs (+$433,000), interest expense (+$227,000), and production costs (+$97,000). The 10-K emphasizes significant development risks for Ampligen and Alferon N Injection, including supply chain limitations, manufacturing challenges, regulatory uncertainties, and halted commercial sales of Alferon N due to inventory shortages.

  • ·No long-term agreements with suppliers for Ampligen; limited raw material suppliers.
  • ·Alferon N Injection commercial sales halted due to lack of finished goods inventory.
  • ·Limited organizations available for final manufacturing steps of Ampligen and Alferon N Injection.
  • ·Leadership experience of Nancy K. Bryan includes roles in biopharma commercialization across oncology, anti-infectives, GI, and autoimmune areas.
MURPHY OIL CORPDEF 14Amixedmateriality 7/10

27-03-2026

Murphy Oil Corporation's 2026 Proxy Statement highlights strong 2025 operational performance, including average production of 182 MBOEPD (up from 177 MBOEPD in 2024), a 20% year-over-year reduction in LOE/BOE to $10.89, 103% reserve replacement with 715 MMBOE proved reserves, and $1.2B in cash from continuing operations, of which $301.3M was free cash flow with $286M returned to shareholders. Key successes included multiple oil discoveries in Vietnam and the U.S. Gulf of America, alongside financial strengthening via RCF upsizing to $2.00B and $500M notes issuance. However, production growth was modest at approximately 3% YoY, and two of three exploration wells in Côte d’Ivoire delivered non-commercial results.

  • ·U.S. Gulf of America offshore production: 63 MBOEPD in 2025
  • ·Canada offshore production: 7 MBOEPD in 2025
  • ·Vietnam Hai Su Vang resource potential: toward higher end of 170 to 430 MMBOE range
  • ·Acquired 14 blocks in Gulf of America lease sale in December 2025
  • ·Lac Da Vang first oil on track for Q4 2026
  • ·Two non-commercial wells in Côte d’Ivoire three-well exploration program
  • ·Annual meeting scheduled for May 13, 2026
GENCO SHIPPING & TRADING LTD8-Kneutralmateriality 3/10

27-03-2026

Genco Shipping & Trading Limited filed an 8-K on March 27, 2026, under Items 5.02 and 9.01, attaching as Exhibit 10.1 its Employee Retention Plan, previously disclosed in a Form 8-K on February 13, 2026. The filing incorporates the prior description by reference and was signed by Chief Financial Officer Peter Allen. No officer departures, elections, or new compensatory arrangements are detailed beyond the referenced plan.

COMMUNITY FINANCIAL SYSTEM, INC.DEFA14Aneutralmateriality 3/10

27-03-2026

COMMUNITY FINANCIAL SYSTEM, INC. (CBU) filed a DEFA14A Definitive Additional Proxy Materials on March 27, 2026, pursuant to Section 14(a) of the Securities Exchange Act of 1934. The filing is by the registrant with no fee required and no substantive proposals, financial data, or changes detailed in the provided header content. This appears to be supplemental material to prior proxy statements.

MURPHY OIL CORPDEFA14Apositivemateriality 7/10

27-03-2026

Murphy Oil Corporation (MUR) has filed definitive additional proxy materials (DEFA14A) for its 2026 Annual Meeting scheduled for May 13, 2026, at its Houston headquarters. Key proposals include the election of 10 director nominees (all Board-recommended FOR), an advisory vote to approve executive compensation (FOR), approval of the proposed 2026 Stock Plan for Non-Employee Directors (FOR), and ratification of KPMG LLP as the independent registered public accounting firm for 2026 (FOR). Shareholders must vote by May 12, 2026, 11:59 PM ET (or May 11 for plan shares), with proxy materials available online or requestable in paper/email by April 29, 2026.

  • ·Filing date: March 27, 2026
  • ·Annual Meeting address: 9805 KATY FREEWAY, SUITE G-200, HOUSTON, TEXAS 77024
  • ·Proxy materials request methods: www.ProxyVote.com, 1-800-579-1639, or sendmaterial@proxyvote.com (include control number)
  • ·Vote online at: www.ProxyVote.com
Townsquare Media, Inc.DEFA14Aneutralmateriality 3/10

27-03-2026

Townsquare Media, Inc. (TSQ) filed a DEFA14A on March 27, 2026, classified as Definitive Additional Materials under Schedule 14A pursuant to Section 14(a) of the Securities Exchange Act of 1934. The filing indicates no fee required and is marked as soliciting material under §240.14a-12. No financial data, performance metrics, or specific proxy proposals are detailed in the provided content.

  • ·Filing Type: DEFA14A (Proxy Statement)
  • ·Subcategory: Notice of Internet Availability
COMMUNITY FINANCIAL SYSTEM, INC.DEF 14Apositivemateriality 8/10

27-03-2026

Community Financial System, Inc. reported strong 2025 performance with total operating revenues up $72.1 million or 9.7% YoY, diluted GAAP EPS up $0.53 or 15.4%, diluted operating EPS up $0.59 or 16.2%, and operating pre-tax pre-provision net revenue per share up $0.79 or 15.3%; banking saw over 22% growth in operating pre-tax income after opening 15 branches and acquiring 7 from Santander Bank. The company announced a January 2026 agreement to acquire ClearPoint Federal Bank & Trust and made a minority investment in Leap Holdings, Inc., while increasing dividends 2.2% for the 33rd consecutive year. The proxy seeks shareholder approval for electing 12 directors, advisory vote on executive compensation, and ratification of PricewaterhouseCoopers LLP as auditors for 2026.

  • ·Annual meeting virtually on May 20, 2026 at 12:00 p.m. EDT; record date March 23, 2026.
  • ·Board added John A. Vaccaro in October 2025 and Brenda M. Hall in March 2026.
  • ·Net interest income increased for 19th consecutive year; recognized by Forbes as one of America’s Best Banks.
CAMDEN PROPERTY TRUSTDEFA14Aneutralmateriality 8/10

27-03-2026

Camden Property Trust (CPT) filed a DEFA14A proxy statement on March 27, 2026, providing an overview of proposals for its upcoming shareholder meeting. Key items include the election of 11 Trust Manager nominees, an advisory vote to approve executive compensation, ratification of Deloitte & Touche LLP as independent auditors, and approval of the Amended and Restated 2018 Share Incentive Plan and 2018 Employee Share Purchase Plan, with the Board recommending 'For' on all. Shareholders can request free paper or email copies of materials prior to April 24, 2026, via www.ProxyVote.com, phone, or email.

  • ·Address: 2800 Post Oak Boulevard, Suite 2700, Houston, TX 77056
  • ·Voting instructions: www.ProxyVote.com, 1-800-579-1639, or sendmaterial@proxyvote.com (include control number V90265-P44734)
  • ·This is not a votable ballot; follow instructions on reverse side
Planet Labs PBC8-Kneutralmateriality 7/10

27-03-2026

Planet Labs PBC announced on March 27, 2026, the redemption of all outstanding public warrants to purchase shares of its Class A common stock, issued under the Warrant Agreement dated March 4, 2021, as part of its initial public offering units. The redemption will proceed in accordance with Section 6.1 of the Warrant Agreement. A press release (Exhibit 99.1) and Notice of Redemption (Exhibit 99.2) were filed with the 8-K.

  • ·Warrants trade under symbol PL WS on New York Stock Exchange.
  • ·Class A common stock trades under symbol PL on New York Stock Exchange.
  • ·Warrant Agreement dated March 4, 2021.
COMMUNITY BANCORP /VT10-Kneutralmateriality 9/10

27-03-2026

Community Bancorp (CMTV) filed its 10-K Annual Report on March 27, 2026, for the year ended December 31, 2025, including audited consolidated financial statements (balance sheets, income statements, comprehensive income, changes in shareholders’ equity, and cash flows) for 2025 and 2024. The report outlines the company's diversified operations across six segments: Business Banking, Commercial Real Estate Lending (recognized by SBA for Section 7(a) and 504 programs), Residential Real Estate Lending (no subprime loans originated), Retail Credit, Municipal and Institutional Banking, and Retail Banking. No specific financial performance metrics or period-over-period changes are detailed in the provided filing excerpt.

  • ·Auditor: BDMP Assurance, LLP (PCAOB Reg. No. – 7293)
  • ·Exhibits include portions of 2025 Annual Report, subsidiaries list, consents, Sarbanes-Oxley certifications (Sections 302 and 906), Clawback Policy, and iXBRL financial statements
CAMDEN PROPERTY TRUST8-Kneutralmateriality 5/10

27-03-2026

Camden Property Trust entered into a letter agreement dated March 24, 2026, confirming Richard J. Campo's position as Executive Chairman of the Board of Trust Managers, effective immediately, with duties under the Board's control and direction. The agreement clarifies that determinations of 'Good Reason' under prior agreements will reference this position. It was executed by Joshua A. Lebar, Senior Vice President-General Counsel and Secretary, and accepted by Mr. Campo.

  • ·Letter agreement references address: 2800 Post Oak Boulevard, Suite 2700, Houston, Texas 77046
  • ·Filing includes Items 1.01 (Material Agreement), 5.02, 5.03, 9.01
CAMDEN PROPERTY TRUSTDEF 14Aneutralmateriality 6/10

27-03-2026

Camden Property Trust's 2026 Proxy Statement details governance practices, board independence, and director compensation. The Board has 11 members, including 8 independents, with Kelvin R. Westbrook as Lead Independent Trust Manager; in March 2026, Alexander J. Jessett was appointed CEO, separating the Chairman and CEO roles. Independent Trust Managers received 2025 share awards with grant date fair values of $120,114 each for annual fees, with some holding unvested awards as of December 31, 2025.

  • ·Independent Trust Managers' unvested equity awards vest 25% on grant date and 25% annually over next three years, or fully upon reaching age 65.
  • ·Mark D. Gibson, Scott S. Ingraham, Renu Khator, Frances Aldrich Sevilla-Sacasa, Steven A. Webster, and Kelvin R. Westbrook held zero unvested share awards as of December 31, 2025, due to age 65+ vesting.
  • ·Board committees (Audit, Nominating/Corporate Governance/Sustainability, Compensation) are comprised solely of independent Trust Managers.
Townsquare Media, Inc.DEF 14Aneutralmateriality 6/10

27-03-2026

Townsquare Media, Inc. (TSQ) filed a DEF 14A proxy statement dated March 27, 2026, for its virtual 2026 Annual Meeting on May 11, 2026, at 11:00 a.m. EDT, seeking to elect two Class III directors (Stephen Kaplan and Bill Wilson) for terms until the 2029 annual meeting, ratify BDO USA, P.C. as independent auditors for FY 2026, approve NEO compensation on an advisory basis, and vote on the frequency (1, 2, or 3 years) of future say-on-pay votes. The record date is March 18, 2026, with the Board consisting of 7 directors in a classified structure. No financial performance metrics or period-over-period comparisons are provided in the excerpt.

  • ·Annual Meeting virtual format: www.virtualshareholdermeeting.com/TSQ2026
  • ·Stephen Kaplan, age 67, joined Board in 2010
  • ·Bill Wilson, age 57, joined Board in 2018 and appointed CEO in January 2019
  • ·Company address: 4 Manhattanville Road, Suite 107, Purchase, New York 10577; Phone: (203) 861-0900
ADVANCED MICRO DEVICES INCDEFA14Aneutralmateriality 7/10

27-03-2026

AMD issued a DEFA14A proxy statement for its annual stockholder meeting related to the fiscal year ended December 27, 2025, presenting six proposals including the election of eight director nominees, ratification of Ernst & Young LLP as independent auditors, advisory approval of named executive officer compensation, and amendment to the 2023 Equity Incentive Plan—all recommended FOR by the board. The board recommends AGAINST a stockholder proposal requesting changes to stockholder rights to call special meetings. Stockholders can request meeting materials online or by April 29, 2026.

  • ·Fiscal year ended December 27, 2025
  • ·Materials request deadline: April 29, 2026
  • ·Voting platform: www.ProxyVote.com or 1-800-579-1639
SBA COMMUNICATIONS CORP8-Kneutralmateriality 6/10

27-03-2026

SBA Communications Corporation announced that Mark Ciarfella, Executive Vice President, U.S. Operations, provided notice on March 24, 2026, of his intent to retire from his current roles effective December 31, 2026, and will remain as a non-executive employee until March 7, 2027, to support the transition. The filing was made on March 27, 2026, under Item 5.02. No successor has been named in the filing.

  • ·Company headquartered at 8051 Congress Avenue, Boca Raton, FL 33487.
  • ·Class A Common Stock ($0.01 par value) trades as SBAC on NASDAQ Global Select Market.
SUN COMMUNITIES INC8-Kneutralmateriality 7/10

27-03-2026

Sun Communities, Inc. dismissed Grant Thornton LLP as its independent registered public accounting firm effective after completion of services for the period ended March 31, 2026, and appointed Deloitte & Touche LLP as the new auditor for the fiscal year ending December 31, 2026, subject to client acceptance procedures. Grant Thornton's audit reports for fiscal years 2024 and 2025 were unqualified with no disagreements, though a material weakness in internal control over financial reporting as of December 31, 2024, was noted but remediated in 2025.

  • ·The material weakness as of December 31, 2024, involved lack of an effective risk assessment process for financial reporting objectives and risks of misstatement.
  • ·Company authorized Grant Thornton to respond fully to successor auditor inquiries on the reportable event.
  • ·Grant Thornton letter dated March 27, 2026, filed as Exhibit 16.1.
ADVANCED MICRO DEVICES INCDEF 14Aneutralmateriality 8/10

27-03-2026

AMD's 2026 Proxy Statement outlines proposals for the May 13, 2026 virtual Annual Meeting, including election of 8 director nominees, ratification of Ernst & Young LLP as independent auditors, advisory approval of named executive officer compensation (Say-On-Pay), and amendment to the 2023 Equity Incentive Plan to increase authorized shares by 65 million; the Board recommends voting FOR all except AGAINST the stockholder proposal on special meeting rights. On the March 19, 2026 record date, 1,630,338,779 shares of common stock were outstanding. Proxy solicitation by MacKenzie Partners is expected to cost $25,000, with materials available via Notice and Access.

  • ·Annual Meeting at 9:00 a.m. Pacific Time, virtually at www.virtualshareholdermeeting.com/AMD2026.
  • ·Fiscal year ended December 27, 2025.
  • ·Proxy materials available at www.proxyvote.com and ir.amd.com.
Madison Square Garden Entertainment Corp.8-Kneutralmateriality 6/10

27-03-2026

Madison Square Garden Entertainment Corp. entered into a new employment agreement with existing Executive Vice President and Treasurer Philip D’Ambrosio, effective April 1, 2026, following expiration of his prior agreement. The agreement sets a minimum annual base salary of $750,000, target annual bonus of at least 100% of base salary, and expected annual long-term incentive awards with aggregate target value of at least $1,400,000. It outlines severance benefits, including discretionary payments no less than base plus target bonus plus prior and prorated bonuses upon qualifying terminations before March 31, 2029.

  • ·Employment agreement dated March 24, 2026; scheduled expiration March 31, 2029.
  • ·Severance upon voluntary termination with 90 days' notice: immediate full vesting of long-term cash awards, RSUs, and stock options.
  • ·Noncompetition covenant restricts competitive activities until first anniversary of termination on or prior to March 31, 2029.
Muzero Acquisition Corp10-Kneutralmateriality 6/10

27-03-2026

Muzero Acquisition Corp, a blank check company with no operating history or revenues since inception on October 10, 2025, filed its 10-K annual report covering the period through December 31, 2025, highlighting various risks associated with completing a Business Combination. Key risks include no maximum redemption threshold, potential negative interest rates on Trust Account investments reducing per-share redemption value, increased post-combination debt vulnerabilities, and foreign country exposure. Up to $1,500,000 in Working Capital Loans from the Sponsor or affiliates may be made available, convertible into units at $10.00 per unit.

  • ·Financial statements cover period from October 10, 2025 (inception) through December 31, 2025.
  • ·Filing date: March 27, 2026.
  • ·No specified maximum redemption threshold for initial Business Combination.
  • ·Trust Account investments could bear negative interest rates.
BlockchAIn Digital Infrastructure, Inc.8-Kpositivemateriality 8/10

27-03-2026

BlockchAIn Digital Infrastructure, Inc. (AIB) issued a shareholder letter from CEO Jerry Tang highlighting its existing 40 MW operating data center in South Carolina, which generated approximately $22.9 million in revenue and $5.7 million in net income in 2024, providing a current revenue base post-public listing. The company announced non-binding letters of intent (LOIs) for a 5 MW AI infrastructure deployment (expected >$100 million over 10 years) and a 20 MW build-to-suit data center lease (expected >$400 million over 10 years), totaling more than $500 million in prospective initial contract value. It emphasized collaborations with Super Micro Computer, Inc. and Power and Data Management LLC to enhance modular AI data center deployment, while noting these LOIs are subject to execution risks and not reflected in current revenue.

  • ·Company has 37,629,058 shares outstanding, of which approximately 4.4 million are currently freely trading.
  • ·Prepares to report FY2025 earnings and file Form 10-K, followed by a virtual webinar on business review and strategic priorities.
  • ·Address: 1540 Broadway, Ste 1010, New York, NY 10036.
Muzinich Corporate Lending Income Fund, Inc.10-Kneutralmateriality 4/10

27-03-2026

The 10-K annual report for Muzinich Corporate Lending Income Fund, Inc. details the incentive fee structure at 12.5% of cumulative realized capital gains from inception, net of losses and prior fees. It specifies reimbursable organization, offering, and compliance-related expenses, including those for regulatory filings and intermediary due diligence. Investment policies restrict certain small companies with total assets not exceeding $4 million and capital/surplus not less than $2 million, while noting regulatory change risks with no performance metrics reported.

  • ·Permissible investments include cash equivalents, U.S. Government securities, or high-quality debt securities maturing in one year or less.
  • ·Domestic trust definition requires U.S. court supervision and U.S. person control, or valid election under U.S. Treasury regulations.
Muzinich BDC, Inc.10-Knegativemateriality 9/10

27-03-2026

Muzinich BDC, Inc.'s 10-K for the year ended December 31, 2025, shows total investment income declining 28% YoY to $17,061,492 from $23,802,398 in 2024, while total net expenses decreased 8% to $4,109,238. Net investment income fell 33% to $12,952,254, with unrealized depreciation worsening to $(25,719,331) from $(7,414,138), leading to a net decrease in net assets from operations of $(12,767,077) versus a $11,907,134 increase in 2024.

  • ·No net realized gains or losses reported for 2023, 2024, or 2025.
  • ·To qualify as a RIC, the company must meet the 90% Income Test and Annual Distribution Requirement, with potential risks of failing and incurring corporate tax rates if distributions are restricted by asset coverage or covenants.
MICROSOFT CORPSCHEDULE 13G/Aneutralmateriality 6/10

27-03-2026

The Vanguard Group Inc. filed a Schedule 13G/A on March 27, 2026, for Microsoft Corp, disclosing an internal realignment on January 12, 2026, that results in certain subsidiaries reporting beneficial ownership of Microsoft common stock separately per SEC Release No. 34-39538. The Vanguard Group states it no longer has or is deemed to have beneficial ownership over those securities, with holdings managed through investment companies and accounts entitled to dividends or sale proceeds. No single person's interest in the reported securities exceeds 5%, and ownership is held passively in the ordinary course of business.

  • ·Filing as-of date: March 13, 2026
  • ·Microsoft Corp CIK: 0000789019; The Vanguard Group Inc. CIK: 0000102909
PORTSMOUTH SQUARE INC8-Kneutralmateriality 3/10

27-03-2026

Portsmouth Square, Inc. completed the appointment of Whitley Penn LLP as its independent registered public accounting firm on March 26, 2026, after finalizing standard client acceptance, independence procedures, and execution of the engagement letter. This update follows the company's prior disclosure in a Form 8-K filed on March 23, 2026, that the appointment was pending these steps. No financial impacts or disagreements with prior auditors were mentioned.

  • ·Form 8-K filed on March 27, 2026, covering Items 4.01 and 9.01.
  • ·Registrant's address: 1516 S. Bundy Drive, Suite 200, Los Angeles, CA 90025.
  • ·Telephone: (310) 889-2500.
Warner Music Group Corp.SCHEDULE 13G/Aneutralmateriality 6/10

27-03-2026

The Vanguard Group, Inc. filed a Schedule 13G/A amendment on March 27, 2026, for Warner Music Group Corp. common stock, disclosing an internal realignment on January 12, 2026, under SEC Release No. 34-39538. Certain subsidiaries will now report beneficial ownership separately from Vanguard on a disaggregated basis, while Vanguard maintains passive investor status with no intent to influence control. No specific ownership percentages or share counts were detailed in the filing.

  • ·Filing relies on Rule 13d-1(b) for passive investors.
  • ·No single person's interest exceeds 5%.
  • ·Warner Music Group Corp. address: 1633 Broadway, New York, NY 10019.

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