Annualized Distribution Rate1
| Class A | Class T | Class D | Class I |
|---|---|---|---|
| 3.06% | 2.55% | 3.03% | 3.30% |
Performance Returns for Each Share Class2
|
|||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial Shareholder Purchase Date |
Net Asset Value (NAV)3 |
YTD Return (1/1/25-7/31/25) |
1 Year (8/1/24-7/31/25) |
ANNUALIZED RETURNS4 | CUMULATIVE TOTAL RETURNS | ||||||||||||
| 3 Year (8/1/22-7/31/25) |
5 Year (8/1/20-7/31/25) |
Since Inception5 | 3 Year (8/1/22-7/31/25) |
5 Year (8/1/20-7/31/25) |
Since Inception5 | ||||||||||||
| Class A | |||||||||||||||||
| (No Sales Load) | 4/10/18 | $37.32 | 6.7% | 12.7% | 9.8% | 10.4% | 10.1% | 32.5% | 64.2% | 102.2% | |||||||
| (With Sales Load) | -2.3% | 3.1% | 6.6% | 8.5% | 8.8% | 21.2% | 50.3% | 85.0% | |||||||||
| Class T | |||||||||||||||||
| (No Sales Load) | 5/25/18 | $37.23 | 5.9% | 11.4% | 8.9% | 9.5% | 9.2% | 29.3% | 57.6% | 87.7% | |||||||
| (With Sales Load) | 0.9% | 6.1% | 7.2% | 8.5% | 8.4% | 23.1% | 50.1% | 78.8% | |||||||||
| Class D | |||||||||||||||||
| (No Sales Load) | 6/26/18 | $37.03 | 6.5% | 12.2% | 9.5% | 10.2% | 9.6% | 31.5% | 62.8% | 91.4% | |||||||
| Class I | |||||||||||||||||
| (No Sales Load) | 4/10/18 | $37.82 | 6.8% | 12.4% | 9.7% | 10.4% | 10.3% | 32.1% | 64.4% | 104.1% | |||||||
Not actual shareholder returns. NAV is an estimate of fair value calculated from CNL Strategic Capital’s financial statements prepared in accordance with GAAP, but is inherently subjective, and will likely differ from a shareholder’s return. Past performance is not indicative of future results.
Monthly Returns6
Class A Share
| Monthly Returns | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.0% | 0.9% | 0.6% | 1.5% | 0.8% | 1.2% | 1.5% | – | – | – | – | – | – |
| 2024 | 0.2% | 0.6% | 1.2% | 0.3% | 0.4% | 1.6% | 0.1% | 0.6% | 1.4% | 0.7% | 1.2% | 1.6% | 10.2% |
| 2023 | 1.4% | 0.1% | 0.9% | -0.3% | 0.3% | 0.7% | 0.3% | 1.4% | 0.2% | 0.1% | 0.8% | 1.4% | 7.5% |
| 2022 | 1.3% | 0.3% | 1.1% | 0.1% | 0.7% | 0.7% | 0.4% | 0.9% | 1.2% | 0.3% | 0.9% | 1.4% | 9.7% |
| 2021 | 2.2% | 1.6% | 1.1% | 2.0% | 1.5% | 1.1% | 0.8% | -0.9% | 0.7% | 0.6% | 0.6% | -0.2% | 11.5% |
| 2020 | -0.2% | 0.4% | -1.3% | 0.2% | 1.8% | 1.8% | 2.7% | 1.2% | 0.8% | 1.2% | 1.2% | 1.8% | 11.9% |
| 2019 | 0.0% | 0.8% | 0.2% | 0.9% | 1.3% | 0.4% | 0.2% | 0.2% | 0.8% | 0.4% | 0.6% | 0.8% | 6.7% |
| 2018 | – | – | – | 0.9% | 0.2% | 1.5% | 3.3% | 1.2% | 0.3% | 0.3% | 1.0% | 0.4% | 9.6% |
Class T Share
| Monthly Returns | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | -0.1% | 0.9% | 0.5% | 1.3% | 0.6% | 1.1% | 1.4% | – | – | – | – | – | – |
| 2024 | 0.1% | 0.6% | 1.1% | 0.3% | 0.5% | 1.2% | 0.0% | 0.5% | 1.4% | 0.6% | 1.2% | 1.5% | 9.3% |
| 2023 | 1.3% | 0.0% | 0.9% | -0.3% | 0.1% | 0.8% | 0.3% | 1.1% | 0.3% | 0.1% | 1.3% | 0.8% | 6.8% |
| 2022 | 1.2% | 0.1% | 1.5% | 0.0% | 0.5% | 0.9% | 0.3% | 0.7% | 1.3% | 0.3% | 0.8% | 1.4% | 9.3% |
| 2021 | 2.1% | 1.5% | 1.0% | 1.9% | 1.3% | 0.9% | 0.7% | -1.0% | 0.9% | 0.2% | 0.4% | 0.2% | 10.6% |
| 2020 | -0.3% | 0.2% | -1.4% | 0.1% | 1.7% | 1.7% | 2.5% | 1.0% | 0.6% | 1.0% | 1.1% | 1.6% | 10.1% |
| 2019 | -0.1% | 0.7% | 0.2% | 0.8% | 1.2% | 0.2% | 0.1% | 0.1% | 0.7% | 0.4% | 0.5% | 0.8% | 5.7% |
| 2018 | – | – | – | – | 0.1% | 1.3% | 3.3% | 1.2% | 0.2% | 0.3% | 1.0% | 0.4% | 7.9% |
Class D Share
| Monthly Returns | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.0% | 0.9% | 0.6% | 1.5% | 0.7% | 1.2% | 1.5% | – | – | – | – | – | – |
| 2024 | 0.2% | 0.6% | 1.2% | 0.3% | 0.5% | 1.5% | 0.0% | 0.5% | 1.4% | 0.6% | 1.2% | 1.6% | 9.9% |
| 2023 | 1.3% | 0.1% | 0.9% | -0.3% | 0.1% | 0.9% | 0.4% | 1.1% | 0.4% | 0.1% | 0.9% | 1.3% | 7.4% |
| 2022 | 1.3% | 0.2% | 1.5% | 0.0% | 0.5% | 1.0% | 0.3% | 0.7% | 1.3% | 0.3% | 0.9% | 1.4% | 9.7% |
| 2021 | 2.1% | 1.6% | 1.1% | 1.9% | 1.4% | 1.0% | 0.8% | -0.9% | 0.8% | 0.4% | 0.4% | 0.3% | 11.6% |
| 2020 | -0.3% | 0.2% | -1.4% | 0.1% | 1.7% | 1.8% | 2.5% | 1.1% | 0.7% | 1.1% | 1.1% | 1.7% | 10.7% |
| 2019 | -0.3% | 0.7% | 0.4% | 0.6% | 1.2% | 0.4% | -0.1% | 0.1% | 1.0% | 0.2% | 0.5% | 1.0% | 5.9% |
| 2018 | – | – | – | – | – | 0.7% | 3.2% | 1.0% | 0.0% | 0.1% | 0.8% | 0.3% | 6.2% |
Class I Share
| Monthly Returns | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.0% | 0.9% | 0.6% | 1.6% | 0.8% | 1.2% | 1.5% | – | – | – | – | – | – |
| 2024 | 0.2% | 0.6% | 1.2% | 0.3% | 0.4% | 1.5% | 0.1% | 0.5% | 1.3% | 0.7% | 1.4% | 1.2% | 9.9% |
| 2023 | 1.4% | 0.1% | 0.9% | -0.2% | 0.3% | 0.7% | 0.4% | 1.3% | 0.3% | 0.2% | 0.8% | 1.4% | 7.5% |
| 2022 | 1.4% | 0.3% | 1.1% | 0.2% | 0.7% | 0.6% | 0.5% | 1.0% | 1.0% | 0.3% | 1.1% | 1.2% | 9.7% |
| 2021 | 2.2% | 1.6% | 1.2% | 2.0% | 1.5% | 1.1% | 0.9% | -0.8% | 0.7% | 0.6% | 0.6% | -0.2% | 11.8% |
| 2020 | -0.2% | 0.4% | -1.2% | 0.2% | 1.8% | 1.8% | 2.7% | 1.1% | 0.8% | 1.2% | 1.2% | 1.8% | 12.0% |
| 2019 | 0.0% | 0.9% | 0.3% | 0.9% | 1.3% | 0.4% | 0.2% | 0.2% | 0.8% | 0.4% | 0.6% | 0.9% | 7.1% |
| 2018 | – | – | – | 1.1% | 0.5% | 1.1% | 3.4% | 1.2% | 0.3% | 0.4% | 1.1% | 0.5% | 9.9% |
Investors should not assume that performance over a short period will be consistent with the performance over longer periods. Data as of July 31, 2025, unless otherwise stated.
1 The annualized distribution rate is calculated by annualizing the distributions paid and dividing by the current price per share. For the year-to-date period ended July 31, 2025, total distributions declared were 13.0% from net investment income before expense support, 30.5% from expense support and 56.5% from offering proceeds. For the year ended Dec. 31, 2024, total distributions declared were paid from multiple sources and these sources included net investment income before expense support of 55.6%, reimbursable expense support of 0.1% and offering proceeds of 44.3%. Distributions paid are not solely based upon performance. Subject to certain conditions being met, CNL Strategic Capital is obligated to repay expense support to the managers over several years, which would reduce future income available for distributions. Distribution composition of coverage will vary among share classes and the actual fiscal year distribution composition will not be known until the audited Form 10-K is filed. For the year-to-date period ended July 31, 2025, CNL Strategic Capital’s per share net investment income was $0.24 for Class A, -$0.01 for Class T, $0.15 for Class D and $0.29 for Class I.
2 Total return calculations (with sales load) assume full upfront selling commissions and dealer manager fees (“sales load”). Total returns are calculated for each share class as the change in the NAV for such share class during the period, assumes all distributions are reinvested and assumes a redemption at the current NAV. Repurchase of shares is very limited and not guaranteed. For full details, please see CNL Strategic Capital’s prospectus which has been supplemented with the most current financial reports.
3 Effective as of July 31, 2025. NAV does not represent the market-driven price an investor would receive now or in the future.
4 Annualized return captures the average annual performance of an investment or portfolio of investments. It is calculated as a geometric average, meaning that is captures the effects of compounding over time.
5 For the period from the date the first share was issued for each respective share class through July 31, 2025.
6 Monthly returns are calculated as the change in NAV plus distributions since the previous month.
