DBRG — what changed in the latest 10-Q
A section-by-section comparison of DBRG's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-04-28 vs the prior 10-Q · 2025-10-31
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +60 | −64 | ~28 | 67 |
| Market risk (Item 3) | Text added/removed | +1 | 0 | ~8 | 6 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Legal proceedings | Text added/removed | +1 | −1 | 0 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +1 | −7 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-04-28
On December 29, 2025, DBRG, the Operating Company and indirect subsidiaries of SoftBank entered into the Merger Agreement pursuant to which, among other things, DBRG and the Operating Company would be acquired by such indirect subsidiaries through a series of mergers.
SoftBank, through its indirect subsidiaries, will acquire all of (i) DBRG's issued and outstanding common stock and (ii) the OP common units that are not held by DBRG and the Operating Company (unless otherwise agreed by a holder of OP units and SoftBank through its indirect subsidiary), for $16.00 …
Consummation of the Merger required approval by DBRG’s common stockholders, which was received on April 23, 2026, and is subject to certain other closing conditions, including receipt of required consents for the Company’s flagship investment funds and from a specified percentage of fee-paying clien…
The Merger Agreement contains customary termination rights for both parties, including, among others, the right of either party to terminate the Merger Agreement if the Merger is not consummated on or before March 29, 2027, which may be extended by either party by up to 90 days if the closing condit…
Subject to conditions set forth in the Merger Agreement, the Merger is expected to be completed in the second half of 2026. Following consummation of the Merger, the Company will become an indirect, wholly-owned subsidiary of SoftBank, but will continue to operate as a separately managed platform.
Text removed vs the prior filing · source: 10-Q · 2025-10-31
The following summarizes significant developments that affected our business and results of operations in 2025.
•In 2025, through the third quarter, we raised $4.1 billion of capital, primarily for the third series in our flagship value-add strategy and also co-investment vehicles.
•In connection with our participation in a secondary sale of equity by our DataBank portfolio company in February 2025, we received proceeds of approximately $59.7 million, representing $34.0 million realized principal investment income, $24.8 million return of capital and our share of carried inter…
Certain performance metrics for our key investment funds from inception through September 30, 2025 are presented in the table below. Excluded are funds with less than one year of performance history as of September 30, 2025, funds and separately managed accounts in the liquid strategy, co-investment…
Three Months Ended September 30,Nine Months Ended September 30,
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-04-28
reduced as our consolidated liquid funds are partially owned by third party capital, which represent redeemable noncontrolling interests.
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-04-28
The information set forth under "Litigation" in Note 16 to the consolidated financial statements in Item 1 of this Quarterly Report is incorporated herein by reference.
Text removed vs the prior filing · source: 10-Q · 2025-10-31
The Company may be involved in litigation and claims in the ordinary course of business. As of September 30, 2025, the Company was not involved in any material legal proceedings.
Other information
Text added vs the prior filing · source: 10-Q · 2026-04-28
During the quarter ended March 31, 2026, none of the Company’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-…
Text removed vs the prior filing · source: 10-Q · 2025-10-31
On October 30, 2025, Ian Schapiro resigned as a member of the board of directors (the “Board”) of the Company, including as a member of its audit committee and compensation committee. Mr. Schapiro’s decision was not a result of any disagreement with the Company on any matter relating to its operatio…
Effective October 31, 2025, the Board appointed Jay Wintrob to serve as an independent member of the Board.
Mr. Wintrob, 68, currently serves as an Oaktree Advisory Partner following his retirement from Oaktree Capital Group in March 2024. Prior thereto, he served as Oaktree’s Chief Executive Officer (from 2014 to 2024) and a member of its Board of Directors (from 2011 to 2024). Mr. Wintrob serves as a me…
In accordance with the Company’s non-employee director compensation policy as described in the Company’s definitive proxy statement on Schedule 14A filed on April 17, 2025 with the Securities and Exchange Commission, Mr.
Wintrob’s compensation for his services as a non-employee director will be consistent with that of the Company’s other non-employee directors, subject to pro-ration to reflect the commencement date of his service on the Board. In addition, the Company is entering into an indemnification agreement wi…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice