Vehicle file · Non-traded BDC

Star Mountain Lower Middle-Market Capital Corp

What its SEC filings show.

SEC CIK 1786835·Inc. DE·Fiscal year end 12/31·Data as filed · pulled Oct 12, 2026

What this file is.Not a review. Every figure below is the issuer's own number as tagged in its filings to the SEC, unadjusted, with a link to the filing it came from. When a new filing lands, the table updates; when a filing changes something for the people who hold this vehicle, we write it up and link it under Our reads.

Star Mountain Lower Middle-Market Capital Corp is a non-traded BDC registered with the SEC under CIK 1786835 (incorporated in DE). Its most recent filing is an SC TO-I (issuer tender offer) dated Aug 31, 2026. As of Jun 30, 2026 it reported total assets of $421.7M (up 12.7% from $374.2M a year earlier) and stockholders' equity of $231.7M. Net income (loss) for the six months to Jun 30, 2026 was $9.9M. It raised $1.2M from new shares in the quarter to Mar 31, 2026; paid $12.3M in distributions in the year to Dec 31, 2025; spent $11.8M repurchasing shares in the six months to Jun 30, 2026. Reported NAV per share: $23.34 as of Mar 31, 2026.

What the figures say together

Our arithmetic on the issuer's own figures, only pairing numbers from the same period or date, and ranked against the 70 other vehicles of this type we track.

In the quarter to Mar 31, 2026 it raised $1.2M and paid $5.9M to buy back shares: a net outflow of $4.7M.
Liabilities were 45% of total assets at Jun 30, 2026. It ranks 30th of the 69 vehicles of this type that report the same figures (1st = least leveraged).
The management fee ran at about 2.14% a year of stockholders' equity ($2.4M in the six months to Jun 30, 2026, annualised; our arithmetic). It ranks 45th of the 55 vehicles of this type that report the same figures (1st = lowest fee).
NAV per share moved down 4.9% in a year, from $24.55 to $23.34 (before distributions). It ranks 41st of the 58 vehicles of this type that report the same figures (1st = best NAV change).

Key figures, as filed.

Balance sheet

Figure	Latest	Period	A year earlier	Change	Source
Total assets	$421.7M	as of Jun 30, 2026	$374.2M	+12.7%	10-Q · Aug 13, 2026
Investments at fair value	$411.1M	as of Jun 30, 2026	$356.3M	+15.4%	10-Q · Aug 13, 2026
Total liabilities	$190.0M	as of Jun 30, 2026	$129.1M	+47.1%	10-Q · Aug 13, 2026
Stockholders' equity	$231.7M	as of Jun 30, 2026	$245.0M	−5.5%	10-Q · Aug 13, 2026
NAV per share	$23.34	as of Mar 31, 2026	$24.55	−4.9%	10-Q · May 15, 2026
Shares outstanding	9.9M shares	as of Jun 30, 2026	10.0M shares	−1.0%	10-Q · Aug 13, 2026
Shares outstanding (cover page)	10.3M shares	as of Mar 31, 2026	9.9M shares	+4.1%	10-K · Mar 31, 2026

Results and cash flow

Figure	Latest	Period	A year earlier	Change	Source
Net income (loss)	$9.9M	six months to Jun 30, 2026	$5.8M	+71.3%	10-Q · Aug 13, 2026
Cash from operations	−$25.6M	six months to Jun 30, 2026	$24.1M	−206.4%	10-Q · Aug 13, 2026
Management fees	$2.4M	six months to Jun 30, 2026	$2.4M	+3.5%	10-Q · Aug 13, 2026

Capital raised, distributions and repurchases

Figure	Latest	Period	A year earlier	Change	Source
Capital raised (common stock issued)	$1.2M	quarter to Mar 31, 2026	$8.8M	−86.8%	10-Q · May 15, 2026
Share repurchases (cash paid)	$11.8M	six months to Jun 30, 2026	$11.9M	−0.8%	10-Q · Aug 13, 2026
Share repurchases (value)	$5.9M	quarter to Mar 31, 2026	$6.3M	−6.1%	10-Q · May 15, 2026

Flows (revenues, income, cash, distributions, repurchases) are shown for the period the issuer reported them in, which may be a quarter, a year-to-date span or a full year; “a year earlier” compares only periods of the same length. A vehicle that does not tag a figure in XBRL will not show it here even if the PDF discloses it.

If you have real money in this, do not decide it alone.

We can tell you what the filings say. What we cannot tell you is what it means for your particular position, your tax situation and the rest of your portfolio, and anyone who does that from a web page without knowing your circumstances is guessing. With money in a non-traded BDC whose repurchases are capped each quarter, that is the part that actually matters.

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Filing timeline.

The last 25 documents this issuer filed with the SEC. Marked rows are the ones that tend to matter to holders.

Aug 31, 2026SC TO-I · Issuer tender offerEDGAR ↗
Aug 31, 2026SC TO-I/A · Issuer tender offer (amendment)EDGAR ↗
Aug 19, 20268-K · Current reportItems 1.01,9.01EDGAR ↗
Aug 13, 202610-Q · Quarterly reportEDGAR ↗
Aug 12, 20268-K · Current reportItems 1.01,2.03,9.01EDGAR ↗
Jul 13, 20268-K · Current reportItems 5.07EDGAR ↗
Jun 1, 2026SC TO-I/A · Issuer tender offer (amendment)EDGAR ↗
Jun 1, 2026SC TO-I · Issuer tender offerEDGAR ↗
May 29, 20268-K · Current reportItems 3.02EDGAR ↗
May 15, 202610-Q · Quarterly reportEDGAR ↗
Apr 30, 2026DEF 14A · Proxy statementEDGAR ↗
Apr 10, 2026PRE 14A · FilingEDGAR ↗
Mar 31, 20268-A12G · FilingEDGAR ↗
Mar 31, 202610-K · Annual reportEDGAR ↗
Mar 3, 2026SC TO-I · Issuer tender offerEDGAR ↗
Mar 3, 2026SC TO-I/A · Issuer tender offer (amendment)EDGAR ↗
Jan 8, 20268-K · Current reportItems 1.01,2.03,9.01EDGAR ↗
Dec 22, 202540-17G · FilingEDGAR ↗
Dec 19, 20258-K · Current reportItems 3.02EDGAR ↗
Dec 2, 2025SC TO-I/A · Issuer tender offer (amendment)EDGAR ↗
Dec 2, 2025SC TO-I · Issuer tender offerEDGAR ↗
Nov 14, 202510-Q · Quarterly reportEDGAR ↗
Sep 26, 20258-K · Current reportItems 3.02EDGAR ↗
Sep 11, 2025D/A · FilingItems 06bEDGAR ↗
Aug 29, 2025SC TO-I · Issuer tender offerEDGAR ↗

Our reads on Star Mountain Lower Middle-Market Capital Corp.

No forensic read of this vehicle yet. When a filing changes something for holders — a tender offer, a repurchase cap, a NAV reset, a distribution cut — the read goes here.

Source: SEC EDGAR, XBRL company facts and filing index for CIK 1786835, retrieved Oct 12, 2026. Figures are reproduced as tagged by the issuer; errors in the source carry through, which is why every row links to the filing. Nothing here is investment advice.

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Star Mountain Lower Middle-Market Capital Corp

What the figures say together

Key figures, as filed.

Filing timeline.

Our reads on Star Mountain Lower Middle-Market Capital Corp.

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