Slide 1: Q3 2019 Earnings Call
Q3 2019 Earnings Call November 6, 2019
Slide 2: Forward Looking Statements
2 Forward Looking Statements Statements included herein, including statements regarding Sutter Rock's beliefs, expectations, intentions or strategies for the future, may constitute "forward - looking statements" . Sutter Rock cautions you that forward - looking statements are not guarantees of futur
Slide 3: 3rd Quarter 2019 NAV
3 3 rd Quarter 2019 NAV Third Quarter 2019 Preliminary NAV of $11.24 9.99 $10.46 $10.58 $9.89 $10.75 $10.75 $11.24 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19
Slide 4: Key Shareholder Initiatives
Key Shareholder Initiatives 4 Third Quarter 2019 Shareholder Dividend Sutter Rock is pleased to declare a $ 0 . 20 per share dividend to shareholders This dividend is driven by monetizations in Sutter Rock’s public and private securities Based on ongoing portfolio activity and the results of
Slide 5: Share Repurchase Program
5 Share Repurchase Program Third Quarter 2019 Since commencement of the Share Repurchase Program in August 2017, Sutter Rock has repurchased approximately 14% of its then - outstanding shares. Purchases to Date Shares Repurchased Cash Used Allocation Remaining 2017 Total Repurchases 934,658 $4.9 $5.
Slide 6: Top Positions = 55% of Total Investment Portfolio at Fair Value
Top 5 Positions = 55% of Total Investment Portfolio at Fair Value Based on Total Investment Portfolio Value of $199.8 million 6 Third Quarter 2019 Fair Value ($ in millions) % of Total Portfolio 5 $12.4 6.2% 4 $16.0 8.0% 3 $16.9 8.4% 2 $30.4 15.2% 1 $34.8 17.4 % $110.4 55.3% $118.8 Market Capitaliza
Slide 7: Key Investment Themes
35.5% 18.8% 15.2% 15.9% 14.1% Key Investment Themes As a Percentage of Total Investment Portfolio at Fair Value as of 09/30/19 Third Quarter 2019 Note: Sustainability investment theme accounted for 0.4% of Total Investment Portfolio in the third quarter. 7 ($ in millions) (1) Total may not sum due t
Slide 8: Investment Portfolio Activity – Dropbox, Lyft Exits
Lyft • Following Q3 2019 close, Sutter Rock sold its entire position in Lyft, realizing a total $9.0 million gain on its Lyft invest men t since inception Investment Portfolio Activity – Dropbox, Lyft Exits Net realized gain for Q3 of approximately $1.7 million (1) Weighted average price per share,
Slide 9: Financial Highlights For the Quarter Ended September 30, 2019
Dollars ($ in millions) Per Share Net Assets at Beginning of Period $211.1 $10.75 Net Investment Loss ($4.7) ($0.24) Net Realized Gain on Investments $1.8 $0.09 Net Unrealized Gain on Investments $8.2 $0.42 Stock - Based Compensation Expense (1) $1.4 $0.08 Repurchase of Common Stock (2) ($3.9) $0.14