OFS
OFS Capital
Portfolio Fair Value
$342.02M
104 holdings
Avg Spread
+6.33%
FV-weighted, debt
Avg Coupon
11.97%
FV-weighted
% First Lien
49.8%
of debt FV
Unrealized P/L
+$13.62M
+4.15% of cost
Non-Accrual
4
text-detected
Balance sheet
Assets$346.71M
Liabilities + Equity$346.71M
First Lien
$170.41M · 49.2%
First Lien
$170.41M · 49.2%
Second Lien
$9.41M · 2.7%
Subordinated
$61.60M · 17.8%
Subordinated
$61.60M · 17.8%
Equity
$100.59M · 29.0%
Equity
$100.59M · 29.0%
Cash & Equivalents
$3.36M · 1.0%
Other Assets
$1.33M · 0.4%
Debt (Borrowings)
$217.64M · 62.8%
Debt (Borrowings)
$217.64M · 62.8%
Other Liabilities
$5.88M · 1.7%
Net Assets (Equity)
$123.19M · 35.5%
Net Assets (Equity)
$123.19M · 35.5%
Industry Composition
Pharmaceutical Preparation Manufacturing
23.2%
Structured Finance Securities
18.0%
Other Ambulatory Health Care Services
5.3%
Services for the Elderly and Persons with Disabilities
5.2%
Sports and Recreation Instruction
5.1%
Other Computer Related Services
5.0%
Office Machinery and Equipment Rental and Leasing
3.5%
Offices of Other Holding Companies
3.3%
Motorcycle, Bicycle, and Parts Manufacturing
3.1%
Unclassified
2.9%
Cash Equivalents
2.6%
Electrical Contractors and Other Wiring Installation Contractors
2.5%
Other industries
20.4%
Spread Distribution
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
8.5%
10.5%
Schedule of Investments
All holdings
All holdings
Sortable, click headers to re-sort
104 of 109
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
Pfanstiehl Holdings, Inc. | Pharmaceutical Preparation Manufacturing | Common Equity | $79.42M | $217.0K | $79.20M | — | — | — |
SS Acquisition, LLC | Sports and Recreation Instruction | First Lien Debt #1 | $16.83M | $16.73M | $100.0K | 9.42% | +5.75% | 2029-12-20 |
Kreg LLC | Other Ambulatory Health Care Services | First Lien Debt | $16.77M | $17.23M | -$460.0K | 10.07% | +6.25% | 2026-12-20 |
Inergex Holdings, LLC | Other Computer Related Services | First Lien Debt | $14.62M | $14.56M | $54.0K | 10.82% | +7.00% | 2026-10-01 |
Tolemar Acquisition, INC. | Motorcycle, Bicycle, and Parts Manufacturing | First Lien Debt | $10.50M | $14.38M | -$3.88M | 9.82% | +6.00% | 2027-10-14 |
Contract Datascan Holdings, Inc. | Office Machinery and Equipment Rental and Leasing | Preferred Equity #1 | $9.20M | $9.61M | -$412.0K | — | — | — |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | First Lien Debt | $9.02M | $8.98M | $34.0K | 10.59% | +6.50% | 2027-02-25 |
Canyon CLO 2019-1, Ltd. | Structured Finance Securities | Subordinated Notes | $8.54M | $9.58M | -$1.04M | 21.30% | — | 2037-07-15 |
24 Seven Holdco, LLC | Temporary Help Services | First Lien Debt | $8.36M | $8.37M | -$5.0K | 10.96% | +7.13% | 2027-11-16 |
Apex Credit CLO 2022-1 Ltd. | Structured Finance Securities | Subordinated Notes | $7.93M | $9.81M | -$1.88M | 20.68% | — | 2038-10-22 |
PSB Group, LLC | Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) | First Lien Debt | $7.88M | $7.85M | $31.0K | 10.47% | +6.75% | 2030-04-17 |
ICG US CLO 2021-3 Ltd | Structured Finance Securities | Subordinated Notes | $7.29M | $7.94M | -$653.0K | 26.57% | — | 2034-10-20 |
Planet Bingo | — | LLC (F/K/A 3rd Rock Gaming Holdings, LLC), First Lien Debt | $7.24M | $14.11M | -$6.87M | 6.50% | — | 2027-12-31 |
Heritage Grocers Group, LLC. (F/K/A Tony's Fresh Market / Cardenas Markets) | Supermarkets and Other Grocery (except Convenience) Stores | First Lien Debt | $6.98M | $8.76M | -$1.79M | 10.52% | +6.75% | 2029-08-01 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt #1 | $6.62M | $7.28M | -$662.0K | 10.57% | +6.75% | — |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | First Lien Debt | $6.17M | $6.17M | $0.00 | 7.50% | — | 2027-12-31 |
Apex Credit CLO 2020 Ltd. | Structured Finance Securities | Subordinated Notes | $5.65M | $9.17M | -$3.52M | 9.87% | — | 2035-04-20 |
Battalion CLO XI Ltd. | Structured Finance Securities | Mezzanine Debt - Class E | $5.47M | $6.00M | -$534.0K | 10.98% | +6.85% | 2034-04-24 |
BlueMountain CLO XXXV Ltd. | Structured Finance Securities | Subordinated Notes | $4.64M | $5.95M | -$1.31M | 16.45% | — | 2037-10-22 |
Brightwood Capital MM CLO 2023-1, Ltd. | Structured Finance Securities | Subordinated Notes | $4.49M | $4.27M | $220.0K | 24.50% | — | 2035-10-15 |
Excelin Home Health, LLC | Home Health Care Services | Second Lien Debt | $4.08M | $6.76M | -$2.69M | 18.00% | — | 2026-10-01 |
SSJA Bariatric Management LLC | Offices of Physicians, Mental Health Specialists | First Lien Debt #2 | $3.80M | $3.80M | $0.00 | 9.24% | +5.25% | 2028-10-31 |
Wellful Inc. (F/K/A KNS Acquisition Corp.) | Cash Equivalents | First Lien Debt | $3.74M | $4.36M | -$623.0K | 8.33% | +6.25% | 2030-10-19 |
Madison Park Funding XXIX, Ltd. | Structured Finance Securities | Subordinated Notes | $3.70M | $5.22M | -$1.53M | 17.42% | — | 2038-03-25 |
Voya CLO 2024-7, Ltd. | Structured Finance Securities | Subordinated Notes | $3.58M | $3.89M | -$305.0K | 16.31% | — | 2038-01-20 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt #2 | $3.49M | $3.84M | -$349.0K | 10.57% | +6.75% | — |
Apex Credit CLO 2021 Ltd. | Structured Finance Securities | Subordinated Notes | $3.17M | $5.58M | -$2.42M | 6.51% | — | 2034-07-18 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #1 | $3.13M | $3.11M | $18.0K | 9.57% | +5.75% | 2027-10-15 |
Clevertech Bidco, LLC | Commodity Contracts Dealing | First Lien Debt | $2.97M | $3.09M | -$115.0K | 10.57% | +6.75% | 2027-12-30 |
Contract Datascan Holdings, Inc. | Office Machinery and Equipment Rental and Leasing | Preferred Equity #2 | $2.88M | $2.89M | -$6.0K | — | — | — |
Allen Media, LLC | Cable and Other Subscription Programming | First Lien Debt | $2.86M | $3.65M | -$789.0K | 9.32% | +5.50% | 2027-02-10 |
LCM 42 Ltd. | Structured Finance Securities | Subordinated Notes | $2.73M | $3.05M | -$321.0K | 18.54% | — | 2038-01-15 |
DRS Imaging Services, LLC | Data Processing, Hosting, and Related Services | Common Equity | $2.67M | $1.14M | $1.54M | — | — | — |
Metasource, LLC | All Other Business Support Services | First Lien Debt | $2.65M | $2.71M | -$63.0K | 10.18% | +6.25% | 2027-05-17 |
Venture 45 CLO, Limited. | Structured Finance Securities | Mezzanine Debt - Class E | $2.61M | $2.96M | -$356.0K | 11.58% | +7.70% | 2035-07-20 |
Idera Inc. | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | Second Lien Debt | $2.50M | $2.68M | -$183.0K | 10.75% | +6.75% | 2029-03-02 |
Staples, Inc. | Business to Business Electronic Markets | First Lien Debt | $2.42M | $2.47M | -$50.0K | 9.60% | +5.75% | 2029-09-04 |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | Second Lien Debt | $2.38M | $6.58M | -$4.20M | — | — | 2028-12-31 |
Inergex Holdings, LLC | Other Computer Related Services | First Lien Debt (Revolver) | $2.34M | $2.34M | $0.00 | 10.82% | +7.00% | 2026-10-01 |
RideNow Group, Inc. (F/K/A RumbleOn, Inc.) | Cash Equivalents | First Lien Debt #1 | $2.30M | $2.36M | -$63.0K | 10.85% | +7.75% | 2027-09-30 |
Associated Spring, LLC | Spring Manufacturing | First Lien Debt | $2.21M | $2.18M | $29.0K | 8.59% | +4.75% | 2030-04-04 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #3 | $2.20M | $2.18M | $22.0K | 9.57% | +5.75% | 2027-10-15 |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt #1 | $2.19M | $2.15M | $35.0K | 9.69% | +6.00% | 2029-10-20 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #2 | $1.98M | $1.96M | $22.0K | 9.57% | +5.75% | 2027-10-15 |
AIDC IntermediateCo 2, LLC | Computer Systems Design Services | First Lien Debt #1 | $1.94M | $1.93M | $13.0K | 8.97% | +5.25% | 2027-07-22 |
SSJA Bariatric Management LLC | Offices of Physicians, Mental Health Specialists | Common Equity | $1.73M | $9.66M | -$7.93M | — | — | — |
CBAMR 2017-1, Ltd. | Structured Finance Securities | Subordinated Notes | $1.65M | $1.88M | -$233.0K | 21.02% | — | 2038-01-20 |
Asurion, LLC | Communication Equipment Repair and Maintenance | First Lien Debt | $1.50M | $1.49M | $5.0K | 7.97% | +4.25% | 2030-09-19 |
M2S Group Intermediate Holdings Inc. | Plastics Packaging Film and Sheet (including Laminated) Manufacturing | First Lien Debt | $1.49M | $1.48M | $10.0K | 8.59% | +4.75% | 2031-08-25 |
JP Intermediate B, LLC | Drugs and Druggists' Sundries Merchant Wholesalers | First Lien Debt #2 | $1.47M | $1.50M | -$25.0K | 5.17% | +5.50% | 2031-03-31 |
RPLF Holdings, LLC | Software Publishers | Common Equity | $1.46M | — | — | — | — | — |
12 Interactive, LLC | — | First Lien Debt #1 | $1.45M | $1.44M | $12.0K | — | — | — |
Avison Young Inc. | Cash Equivalents | First Lien Debt #3 | $1.45M | $1.67M | -$218.0K | 5.49% | +8.00% | 2029-03-12 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt (Revolver) | $1.31M | $1.44M | -$131.0K | 10.57% | +6.75% | — |
Kreg LLC | Other Ambulatory Health Care Services | First Lien Debt (Revolver) | $1.30M | $1.33M | -$35.0K | 10.09% | +6.25% | 2026-12-20 |
Redstone Holdco 2 LP (F/K/A RSA Security) | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | First Lien Debt | $1.29M | $1.71M | -$422.0K | 8.85% | +4.75% | 2028-04-27 |
PM Acquisition LLC | All Other General Merchandise Stores | Common Equity | $1.18M | $231.0K | $950.0K | — | — | — |
12 Interactive, LLC | — | First Lien Debt #2 | $1.12M | $1.11M | $10.0K | — | — | — |
Signal Parent, Inc. | New Single-Family Housing Construction (except For-Sale Builders) | First Lien Debt | $1.10M | $1.51M | -$417.0K | 7.44% | +3.50% | 2028-04-03 |
GoTo Group (F/K/A LogMeIn, Inc.) | Data Processing, Hosting, and Related Services | First Lien Debt #1 | $826.0K | $926.0K | -$100.0K | 8.79% | +4.75% | 2028-04-28 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | Common Equity | $768.0K | $1.29M | -$522.0K | — | — | — |
TalentSmart Holdings, LLC | Professional and Management Development Training | Common Equity | $695.0K | $670.0K | $25.0K | — | — | — |
RideNow Group, Inc. (F/K/A RumbleOn, Inc.) | Cash Equivalents | First Lien Debt #2 | $694.0K | $714.0K | -$20.0K | 10.85% | +7.75% | 2027-09-30 |
Integrated Energy Services, LLC | Computer Systems Design Services | First Lien Debt | $516.0K | $516.0K | $0.00 | 9.20% | +5.50% | 2030-12-19 |
GoTo Group (F/K/A LogMeIn, Inc.) | Data Processing, Hosting, and Related Services | First Lien Debt #2 | $503.0K | $1.28M | -$776.0K | 8.79% | +4.75% | 2028-04-28 |
SS Acquisition, LLC | Sports and Recreation Instruction | First Lien Debt (Revolver) | $500.0K | $493.0K | $7.0K | 9.42% | +5.75% | 2029-12-20 |
PSB Group, LLC | Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) | First Lien Debt (Revolver) | $405.0K | $401.0K | $4.0K | 10.47% | +6.75% | 2030-04-17 |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt #2 | $367.0K | $364.0K | $3.0K | 10.22% | +6.00% | 2029-10-20 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | Preferred Equity | $363.0K | $345.0K | $18.0K | — | — | — |
JP Intermediate B, LLC | Drugs and Druggists' Sundries Merchant Wholesalers | First Lien Debt #1 | $335.0K | $335.0K | $0.00 | 10.67% | +7.00% | 2030-09-30 |
Avison Young Inc. | Cash Equivalents | First Lien Debt #4 | $249.0K | $213.0K | $36.0K | 5.60% | +8.00% | 2029-03-12 |
BayMark Health Services, Inc. | Outpatient Mental Health and Substance Abuse Centers | Second Lien Debt #1 | $248.0K | $4.93M | -$4.68M | 14.43% | +10.50% | 2028-06-11 |
SSJA Bariatric Management LLC | Offices of Physicians, Mental Health Specialists | First Lien Debt #1 | $235.0K | $232.0K | $3.0K | 9.24% | +5.25% | 2028-10-31 |
Avison Young Inc. | Cash Equivalents | First Lien Debt #2 | $234.0K | $231.0K | $3.0K | 5.20% | +7.35% | 2027-12-12 |
Associated Spring, LLC | Spring Manufacturing | First Lien Debt (Delayed Draw) | $233.0K | $230.0K | $3.0K | 8.57% | +4.75% | 2030-04-04 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | First Lien Debt (Revolver) | $226.0K | $222.0K | $4.0K | 10.59% | +6.50% | 2027-02-25 |
BayMark Health Services, Inc. | Outpatient Mental Health and Substance Abuse Centers | Second Lien Debt #2 | $199.0K | $3.96M | -$3.76M | 14.70% | +10.50% | 2028-06-11 |
Trinitas CLO VIII, Ltd. | Structured Finance Securities | Subordinated Notes | $163.0K | $2.32M | -$2.15M | 0.00% | — | — |
Tolemar Acquisition, INC. | Motorcycle, Bicycle, and Parts Manufacturing | First Lien Debt (Revolver) | $145.0K | $563.0K | -$418.0K | 9.82% | +6.00% | 2027-10-14 |
Avison Young Inc. | Nonresidential Property Managers | Preferred Equity | $118.0K | $1.27M | -$1.15M | — | — | — |
Clevertech Bidco, LLC | Commodity Contracts Dealing | First Lien Debt (Revolver) | $96.0K | $107.0K | -$11.0K | — | +6.75% | — |
Avison Young Inc. | Cash Equivalents | First Lien Debt #1 | $83.0K | $82.0K | $1.0K | 3.70% | +8.50% | 2027-12-12 |
RideNow Group, Inc. (F/K/A RumbleOn, Inc.) | Other Industrial Machinery Manufacturing | Warrants | $68.0K | $200.0K | -$132.0K | — | — | — |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt (Revolver) | $47.0K | $45.0K | $2.0K | 11.50% | +4.75% | 2027-10-15 |
AIDC IntermediateCo 2, LLC | Computer Systems Design Services | First Lien Debt #2 | $45.0K | $45.0K | $0.00 | 8.97% | +5.25% | 2027-07-22 |
Constellis Holdings, LLC | Other Justice, Public Order, and Safety Activities | Common Equity | $33.0K | $703.0K | -$670.0K | — | — | — |
Sentry Centers Holdings, LLC | Convention and Trade Show Organizers | Preferred Equity | $1.0K | $160.0K | -$159.0K | — | — | — |
Avison Young Inc. | Nonresidential Property Managers | Common Equity | $0.00 | $1.40M | -$1.40M | — | — | — |
Contract Datascan Holdings, Inc. | Office Machinery and Equipment Rental and Leasing | Common Equity | $0.00 | $104.0K | -$104.0K | — | — | — |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | Equity Participation Rights | $0.00 | $4.72M | -$4.72M | — | — | — |
JP Intermediate B, LLC | Drugs and Druggists' Sundries Merchant Wholesalers | Common Equity | $0.00 | $2.99M | -$2.99M | — | — | — |
United Biologics Holdings, LLC | Medical Laboratories | Preferred Equity | $0.00 | $9.0K | -$9.0K | — | — | — |
12 Interactive, LLC | — | First Lien Debt (Revolver) | -$3.0K | -$3.0K | $0.00 | — | — | — |
Integrated Energy Services, LLC | Computer Systems Design Services | First Lien Debt (Revolver) | -$3.0K | -$3.0K | $0.00 | — | +5.50% | 2030-12-19 |
Integrated Energy Services, LLC | Computer Systems Design Services | First Lien Debt (Delayed Draw) | -$5.0K | -$5.0K | $0.00 | — | +5.50% | 2030-12-19 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt (Delayed Draw) | -$10.0K | -$10.0K | $0.00 | — | +5.75% | 2026-10-15 |
12 Interactive, LLC (D/B/A PerkSpot) | Software Publishers | First Lien Debt #1 | — | — | — | 9.42% | +5.75% | — |
12 Interactive, LLC (D/B/A PerkSpot) | Software Publishers | First Lien Debt #2 | — | — | — | 9.42% | +5.75% | — |
12 Interactive, LLC (D/B/A PerkSpot) | Software Publishers | First Lien Debt (Revolver) | — | — | — | — | +5.75% | — |
Contract Datascan Holdings, Inc. | Office Machinery and Equipment Rental and Leasing | Warrants #1 | — | — | — | — | — | — |
Contract Datascan Holdings, Inc. | Office Machinery and Equipment Rental and Leasing | Warrants #2 | — | — | — | — | — | — |
First American Treasury Obligations Fund Class Z | Cash Equivalents | Debt and Equity Investments | — | — | — | 3.66% | — | — |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt (Revolver) | — | -$5.0K | — | — | +6.00% | 2029-10-20 |
Morgan Stanley Institutional Liquidity Funds | Cash Equivalents | Government Portfolio Advisory Class | — | — | — | 3.48% | — | — |
Disclosed holdings FV
$342.01M
Parsed holdings FV
$342.02M
Residual gap
-$2.0K
Balance-sheet cash
$3.36M
CIK
0001487918
Accession
0001487918-26-000021
Form type
10-K
Period
2025-12-31