ENDI Corp. is a small holding company with three main operating businesses. The most significant is CrossingBridge Advisors (CBA), a fixed income investment manager running mutual funds and ETFs across ultra-short duration, low duration high yield, strategic income, ESG-focused credit, and pre-merger SPAC strategies. CBA acts as adviser, manager, or sub-adviser across eight funds, with total AUM exceeding $1.8B. CBA earns advisory fees as a percentage of AUM, so revenue scales with AUM growth driven by net fund flows, investment performance, and new product launches. CBA also earns sub-advisory fees on two externally managed funds and a quarterly fee for making employees and systems available to affiliated predecessor firm Cohanzick. The second business, Willow Oak Asset Management, provides outsourced back-office, compliance, investor relations, and accounting services to independent asset managers. Willow Oak holds minority stakes in three investment firms and earns a share of their management and performance fees plus fixed monthly consulting fees. The third business, Sitestar.net, is a legacy ISP offering dial-up, DSL, fiber, and web hosting services primarily to rural customers in the U.S. and Canada — a declining, cash-generating business with no strategic growth ambitions. At the corporate level, ENDI takes an opportunistic capital allocation approach, routinely reinvesting corporate cash into CrossingBridge's own funds and making small minority investments in consumer product and other private companies.