Selective Insurance Amends Stellus Private Credit BDC Stake

TL;DR

**Selective Insurance just updated its stake in Stellus Private Credit BDC, signaling a potential shift in their investment strategy.**

AI Summary

This SC 13G/A filing, an amendment filed on February 12, 2024, indicates that Selective Insurance Group Inc. has updated its ownership stake in Stellus Private Credit BDC. The filing, dated as of December 31, 2023, is an amendment to a previous Schedule 13G, meaning there's been a change in their beneficial ownership. This matters to investors because it signals a potential shift in a significant institutional investor's confidence or strategy regarding Stellus Private Credit BDC, which could influence market perception and stock price.

Why It Matters

A change in a major institutional investor's holdings can signal their updated view on the company's prospects, potentially influencing other investors' decisions and the stock's performance.

Risk Assessment

Risk Level: low — This filing is a routine update on an institutional ownership stake and does not inherently present a high risk.

Analyst Insight

Investors should monitor subsequent filings from Selective Insurance Group Inc. to understand the specific changes in their ownership percentage and consider if this aligns with their own investment thesis for Stellus Private Credit BDC.

Key Players & Entities

• Selective Insurance Group Inc. (company) — the entity filing the SC 13G/A amendment
• Stellus Private Credit BDC (company) — the issuer whose securities are being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• February 12, 2024 (date) — the filing date of the SC 13G/A

FAQ

Filing Documents

• sched13g.htm (SC 13G/A) — 53KB
• 0000929638-24-000528.txt ( ) — 54KB

From the Filing

SC 13G/A 1 sched13g.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1) * Stellus Private Credit BDC (Name of Issuer) Common Shares of Beneficial Interest (Title of Class of Securities) None (CUSIP Number) December 31, 2023 (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) ___________________________________ * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 1 Names of Reporting Persons Selective Insurance Company of America 2 Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [x] 3 SEC Use Only 4 Citizenship or Place of Organization. New Jersey Number of Shares Beneficially Owned by Each Reporting Person With 5 Sole Voting Power 0 shares 6 Shared Voting Power 426,464 shares 7 Sole Dispositive Power 0 shares 8 Shared Dispositive Power 426,464 shares 9 Aggregate Amount Beneficially Owned by Each Reporting Person 426,464 shares 10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] N/A 11 Percent of Class Represented by Amount in Row (9)* 6.0% 12 Type of Reporting Person (See Instructions) IC (Insurance Company) 1 Names of Reporting Persons. Selective Insurance Group, Inc. 2 Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [x] 3 SEC Use Only 4 Citizenship or Place of Organization. New Jersey Number of Shares Beneficially Owned by Each Reporting Person With 5 Sole Voting Power 0 shares 6 Shared Voting Power 426,464 shares 7 Sole Dispositive Power 0 shares 8 Shared Dispositive Power 426,464 shares 9 Aggregate Amount Beneficially Owned by Each Reporting Person 426,464 shares 10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] N/A 11 Percent of Class Represented by Amount in Row (9)* 6.0% 12 Type of Reporting Person (See Instructions) HC Item 1. (a) Name of Issuer Stellus Private Credit BDC (b) Address of Issuer's Principal Executive Offices 4400 Post Oak Parkway, Suite 2200, Houston, Texas 77027 Item 2. (a) Name of Person Filing This Schedule 13G is being jointly filed by Selective Insurance Company of America ("SICA") and Selective Insurance Group, Inc. ("SIGI") with respect to the Shares of the above-named issuer owned by SICA. The filing of this statement shall not be construed as an admission that any of the Reporting Persons is the beneficial owner of any securities covered by the statement other than the securities actually owned by such person (if any). (b) Address of Principal Business Office or, if none, Residence The address of each of the Reporting Persons is 40 Wantage Avenue, Branchville, New Jersey 07890. (c) Citizenship Each of SICA and SIGI is organized under the laws of the State of New Jersey. (d) Title of Class of Securities Common Shares of Beneficial Interest (e) CUSIP Number None Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [x] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) [ ] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) [x] A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] A non-U.S. institution in accordance with 240.13d–1(b)(1)(ii)(J); (k) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(K). Item 4. Provide the following information regarding the aggregate number and percentage of the class of

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