OFS
OFS Capital
Portfolio Fair Value
$382.75M
97 holdings
Avg Spread
+6.56%
FV-weighted, debt
Avg Coupon
12.87%
FV-weighted
% First Lien
47.0%
of debt FV
Unrealized P/L
+$28.98M
+8.19% of cost
Non-Accrual
8
text-detected
Balance sheet
Assets$395.44M
Liabilities + Equity$395.44M
First Lien
$180.07M · 45.5%
First Lien
$180.07M · 45.5%
Second Lien
$31.26M · 7.9%
Subordinated
$72.57M · 18.4%
Subordinated
$72.57M · 18.4%
Equity
$98.85M · 25.0%
Equity
$98.85M · 25.0%
Cash & Equivalents
$10.24M · 2.6%
Other Assets
$2.46M · 0.6%
Debt (Borrowings)
$242.20M · 61.2%
Debt (Borrowings)
$242.20M · 61.2%
Other Liabilities
$7.04M · 1.8%
Net Assets (Equity)
$146.20M · 37.0%
Net Assets (Equity)
$146.20M · 37.0%
Industry Composition
Pharmaceutical Preparation Manufacturing
21.7%
Structured Finance Securities
16.8%
Services for the Elderly and Persons with Disabilities
6.6%
Other Ambulatory Health Care Services
4.6%
Other Computer Related Services
4.5%
Sports and Recreation Instruction
4.4%
Motorcycle, Bicycle, and Parts Manufacturing
3.4%
Offices of Other Holding Companies
3.1%
Office Machinery and Equipment Rental and Leasing
2.5%
Software Publishers
2.4%
Temporary Help Services
2.2%
Supermarkets and Other Grocery (except Convenience) Stores
2.2%
Other industries
25.7%
Spread Distribution
3.5%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
8.5%
10.0%
Schedule of Investments
All holdings
All holdings
Sortable, click headers to re-sort
97 of 100
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
Pfanstiehl Holdings, Inc. | Pharmaceutical Preparation Manufacturing | Common Equity | $82.99M | $217.0K | $82.78M | — | — | — |
SS Acquisition, LLC | Sports and Recreation Instruction | First Lien Debt | $16.69M | $16.80M | -$110.0K | 10.05% | +5.75% | 2029-12-20 |
Kreg LLC | Other Ambulatory Health Care Services | First Lien Debt | $16.69M | $17.38M | -$696.0K | — | +6.25% | 2026-12-20 |
Inergex Holdings, LLC | Other Computer Related Services | First Lien Debt | $14.70M | $14.61M | $90.0K | — | +7.00% | 2026-10-01 |
Tolemar Acquisition, Inc. | Motorcycle, Bicycle, and Parts Manufacturing | First Lien Debt | $12.96M | $14.27M | -$1.31M | — | +6.00% | 2027-10-14 |
Contract Datascan Holdings, Inc. | Office Machinery and Equipment Rental and Leasing | Preferred Equity | $9.71M | $8.99M | $724.0K | — | — | — |
Canyon CLO 2019-1 Ltd | Structured Finance Securities | Subordinated Notes | $9.54M | $9.50M | $43.0K | 25.61% | — | 2037-07-15 |
ICG US CLO 2021-3 Ltd | Structured Finance Securities | Subordinated Notes | $9.43M | $8.13M | $1.30M | 32.82% | — | 2034-10-20 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | First Lien Debt | $9.16M | $9.11M | $50.0K | 11.03% | +6.50% | 2027-02-25 |
24 Seven Holdco, LLC | Temporary Help Services | First Lien Debt | $8.43M | $8.41M | $26.0K | 11.54% | +7.13% | 2027-11-16 |
Planet Bingo, LLC (F/K/A 3rd Rock Gaming Holdings, LLC) | Software Publishers | First Lien Debt | $8.34M | $14.11M | -$5.77M | 6.50% | — | 2026-12-31 |
Heritage Grocers Group, LLC. (F/K/A Tony's Fresh Market / Cardenas Markets) | Supermarkets and Other Grocery (except Convenience) Stores | First Lien Debt | $8.26M | $8.79M | -$527.0K | 11.15% | +6.75% | 2029-08-01 |
PSB Group, LLC | Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) | First Lien Debt | $7.88M | $7.88M | $0.00 | 11.03% | +6.75% | 2030-04-17 |
Apex Credit CLO 2020 Ltd. | Structured Finance Securities | Subordinated Notes | $7.18M | $9.29M | -$2.10M | 16.58% | — | 2035-04-20 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt #1 | $6.90M | $7.30M | -$400.0K | 11.18% | +6.75% | 2025-12-22 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #1 | $6.37M | $6.32M | $47.0K | 10.20% | +5.75% | 2027-10-15 |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | First Lien Debt | $6.20M | $6.20M | $0.00 | 7.50% | — | 2026-12-31 |
Apex Credit CLO 2022-1 Ltd | Structured Finance Securities | Subordinated Notes | $6.05M | $8.24M | -$2.19M | 4.32% | — | 2033-04-22 |
Convergint Technologies Holdings, LLC | Security Systems Services (except Locksmiths) | Second Lien Debt | $5.94M | $5.88M | $53.0K | 11.19% | +6.75% | 2029-03-30 |
Battalion CLO XI, Ltd. | Structured Finance Securities | Mezzanine Debt - Class E | $5.57M | $6.00M | -$434.0K | 11.39% | +6.85% | 2034-04-24 |
Madison Park Funding XXIX, Ltd. | Structured Finance Securities | Subordinated Notes | $5.29M | $5.72M | -$432.0K | 16.69% | — | 2047-10-18 |
BlueMountain CLO XXXV Ltd. | Structured Finance Securities | Subordinated Notes | $5.25M | $5.90M | -$656.0K | 17.93% | — | 2035-07-22 |
Excelin Home Health, LLC | Home Health Care Services | Second Lien Debt | $4.93M | $6.46M | -$1.52M | — | — | 2026-10-01 |
Apex Credit CLO 2021 Ltd | Structured Finance Securities | Subordinated Notes | $4.52M | $5.96M | -$1.44M | 12.90% | — | 2034-07-18 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #3 | $4.48M | $4.45M | $28.0K | 10.20% | +5.75% | 2027-10-15 |
BayMark Health Services, Inc. | Outpatient Mental Health and Substance Abuse Centers | Second Lien Debt #1 | $4.33M | $4.93M | -$599.0K | 13.06% | +8.50% | 2028-06-11 |
Brightwood Capital MM CLO 2023-1, Ltd. | Structured Finance Securities | Subordinated Notes | $4.32M | $4.99M | -$670.0K | 11.04% | — | 2035-10-15 |
TruGreen Limited | — | Partnership, Second Lien Debt | $4.17M | $4.56M | -$396.0K | 13.04% | +8.50% | 2028-11-02 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #2 | $4.03M | $3.99M | $36.0K | 10.20% | +5.75% | 2027-10-15 |
Voya CLO 2024-7, Ltd. | Park Avenue Institutional Advisers CLO Ltd. 2021-1 | Subordinated Notes | $4.00M | $4.00M | $0.00 | 16.46% | — | 2038-01-20 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt #2 | $3.64M | $3.85M | -$210.0K | 11.18% | +6.75% | 2025-12-22 |
BCPE North Star US Holdco 2, Inc. (F/K/A Dessert Holdings) | Ice Cream and Frozen Dessert Manufacturing | Second Lien Debt | $3.61M | $3.44M | $170.0K | 11.69% | +7.25% | 2029-06-08 |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt #1 | $3.53M | $9.56M | -$6.03M | — | +5.25% | 2025-07-31 |
Wellful Inc. (F/K/A KNS Acquisition Corp.) | Electronic Shopping and Mail-Order Houses | First Lien Debt | $3.50M | $4.37M | -$874.0K | — | +6.25% | 2030-10-19 |
BayMark Health Services, Inc. | Outpatient Mental Health and Substance Abuse Centers | Second Lien Debt #2 | $3.48M | $3.96M | -$480.0K | 13.06% | +8.50% | 2028-06-11 |
LCM 42 Ltd. | Structured Finance Securities | Subordinated Notes | $3.16M | $3.07M | $92.0K | 19.82% | — | 2038-01-15 |
Clevertech Bidco, LLC | Commodity Contracts Dealing | First Lien Debt | $3.09M | $3.09M | -$4.0K | 11.20% | +6.75% | 2027-12-30 |
Allen Media, LLC | Cable and Other Subscription Programming | First Lien Debt | $2.72M | $3.67M | -$950.0K | 9.95% | +5.50% | 2027-02-10 |
Venture 45 CLO Limited. | Park Avenue Institutional Advisers CLO Ltd. 2021-1 | Mezzanine Debt - Class E | $2.65M | $2.96M | -$304.0K | 11.97% | +7.70% | 2035-07-20 |
Metasource, LLC | All Other Business Support Services | First Lien Debt | $2.58M | $2.71M | -$129.0K | — | +6.25% | 2027-05-17 |
Idera Inc. | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | Second Lien Debt | $2.54M | $2.68M | -$148.0K | 11.18% | +6.75% | 2029-03-02 |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | First Lien Debt #1 | $2.50M | $2.58M | -$79.0K | 12.79% | +8.25% | 2026-08-31 |
Staples, Inc. | Business to Business Electronic Markets | First Lien Debt | $2.36M | $2.47M | -$108.0K | 10.03% | +5.75% | 2029-09-04 |
Inergex Holdings, LLC | Other Computer Related Services | First Lien Debt (Revolver) | $2.34M | $2.34M | $0.00 | — | +7.00% | 2026-10-01 |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt #1 | $2.22M | $2.16M | $64.0K | 10.13% | +6.00% | 2029-10-20 |
Associated Spring, LLC | Spring Manufacturing | First Lien Debt | $2.22M | $2.21M | $9.0K | 10.16% | +5.75% | 2030-04-04 |
Brightwood Capital MM CLO 2023-1, Ltd. | Structured Finance Securities | Mezzanine Debt - Class E | $2.15M | $1.98M | $171.0K | 14.62% | +10.36% | 2035-10-15 |
Redstone Holdco 2 LP (F/K/A RSA Security) | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | Second Lien Debt | $2.10M | $4.42M | -$2.32M | 12.30% | +7.75% | 2029-04-27 |
Dryden 76 CLO, Ltd. | Structured Finance Securities | Subordinated Notes | $1.95M | $3.07M | -$1.12M | 8.86% | — | 2037-10-15 |
AIDC IntermediateCo 2, LLC | Computer Systems Design Services | First Lien Debt #1 | $1.95M | $1.93M | $18.0K | 9.83% | +5.50% | 2027-07-22 |
DRS Imaging Services, LLC | Data Processing, Hosting, and Related Services | Common Equity | $1.92M | $1.14M | $787.0K | — | — | — |
Creation Technologies | Bare Printed Circuit Board Manufacturing | First Lien Debt | $1.91M | $1.93M | -$26.0K | 10.05% | +5.50% | 2028-10-05 |
East West Manufacturing | Fluid Power Pump and Motor Manufacturing | First Lien Debt | $1.90M | $1.89M | $9.0K | 9.78% | +5.50% | 2028-12-22 |
JP Intermediate B, LLC | Drugs and Druggists' Sundries Merchant Wholesalers | First Lien Debt | $1.68M | $4.49M | -$2.81M | 14.00% | +6.50% | 2027-11-20 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt (Revolver) | $1.36M | $1.44M | -$79.0K | 11.18% | +6.75% | 2025-12-22 |
PM Acquisition LLC | All Other General Merchandise Stores | Common Equity | $1.27M | $499.0K | $772.0K | — | — | — |
Avison Young Inc | Nonresidential Property Managers | First Lien Debt #1 | $1.23M | $1.62M | -$382.0K | — | +8.00% | 2029-03-12 |
Signal Parent, Inc. | New Single-Family Housing Construction (except For-Sale Builders) | First Lien Debt | $1.06M | $1.52M | -$457.0K | 7.88% | +3.50% | 2028-04-03 |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | First Lien Debt (Secured Collateral) | $1.03M | $1.03M | $0.00 | 7.50% | — | — |
Park Avenue Institutional Advisers CLO Ltd | Park Avenue Institutional Advisers CLO Ltd. 2021-1 | 2021-1, Mezzanine Debt - Class D | $998.0K | $988.0K | $10.0K | 11.83% | +7.30% | 2034-01-20 |
RPLF Holdings, LLC | Software Publishers | Common Equity | $980.0K | — | — | — | — | — |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt #3 | $962.0K | $2.60M | -$1.64M | — | +5.25% | 2025-07-31 |
Redstone Holdco 2 LP (F/K/A RSA Security) | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | First Lien Debt | $935.0K | $1.71M | -$776.0K | 9.29% | +4.75% | 2028-04-27 |
TalentSmart Holdings, LLC | Professional and Management Development Training | Common Equity | $854.0K | $1.59M | -$741.0K | — | — | — |
Kreg LLC | Other Ambulatory Health Care Services | First Lien Debt (Revolver) | $835.0K | $888.0K | -$53.0K | 10.70% | +6.25% | 2026-12-20 |
GoTo Group (F/K/A LogMeIn, Inc.) | Data Processing, Hosting, and Related Services | First Lien Debt #1 | $814.0K | $931.0K | -$117.0K | 9.16% | +4.75% | 2028-04-28 |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | First Lien Debt #2 | $754.0K | $783.0K | -$29.0K | 12.79% | +8.25% | 2026-08-31 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | Common Equity | $701.0K | $1.29M | -$589.0K | — | — | — |
Trinitas CLO VIII, Ltd | Park Avenue Institutional Advisers CLO Ltd. 2021-1 | Subordinated Notes | $511.0K | $2.42M | -$1.91M | 0.00% | — | — |
GoTo Group (F/K/A LogMeIn, Inc.) | Data Processing, Hosting, and Related Services | First Lien Debt #2 | $466.0K | $1.29M | -$820.0K | 9.16% | +4.75% | 2028-04-28 |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt #2 | $382.0K | $1.03M | -$651.0K | — | +5.25% | 2025-07-31 |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt #2 | $373.0K | $365.0K | $8.0K | 10.25% | +6.00% | 2029-10-20 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | Preferred Equity | $361.0K | $345.0K | $16.0K | — | — | — |
Associated Spring, LLC | Spring Manufacturing | First Lien Debt (Delayed Draw) | $217.0K | $233.0K | -$16.0K | 10.18% | +5.75% | 2030-04-04 |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | Second Lien Debt | $166.0K | $6.58M | -$6.42M | — | — | 2027-12-31 |
Tolemar Acquisition, Inc. | Motorcycle, Bicycle, and Parts Manufacturing | First Lien Debt (Revolver) | $108.0K | $252.0K | -$144.0K | 10.43% | +6.00% | 2027-10-14 |
Clevertech Bidco, LLC | Commodity Contracts Dealing | First Lien Debt (Revolver) | $106.0K | $105.0K | $1.0K | 11.20% | +6.75% | 2027-12-30 |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt (Revolver) | $99.0K | $266.0K | -$167.0K | — | +5.25% | 2025-07-31 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt (Revolver) | $95.0K | $89.0K | $6.0K | 12.25% | +4.75% | 2027-10-15 |
Constellis Holdings, LLC | Other Justice, Public Order, and Safety Activities | Common Equity | $53.0K | $703.0K | -$650.0K | — | — | — |
AIDC IntermediateCo 2, LLC | Computer Systems Design Services | First Lien Debt #2 | $46.0K | $45.0K | $1.0K | 9.83% | +5.50% | 2027-07-22 |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | Warrants | $4.0K | $200.0K | -$196.0K | — | — | — |
Sentry Centers Holdings, LLC | Convention and Trade Show Organizers | Preferred Equity | $1.0K | $160.0K | -$159.0K | — | — | — |
Avison Young Inc | Nonresidential Property Managers | First Lien Debt #2 | $0.00 | $461.0K | -$461.0K | — | +8.00% | 2029-03-12 |
Avison Young Inc | Nonresidential Property Managers | Common Equity | $0.00 | $1.40M | -$1.40M | — | — | — |
Avison Young Inc | Nonresidential Property Managers | Preferred Equity | $0.00 | $1.27M | -$1.27M | — | — | — |
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 | — | — | — |
GGC Aerospace Topco L.P. | Other Aircraft Parts and Auxiliary Equipment Manufacturing | Common Equity (Class A units) | $0.00 | $450.0K | -$450.0K | — | — | — |
GGC Aerospace Topco L.P. | Other Aircraft Parts and Auxiliary Equipment Manufacturing | Common Equity (Class B units) | $0.00 | $50.0K | -$50.0K | — | — | — |
United Biologics Holdings, LLC | Medical Laboratories | Preferred Equity | $0.00 | $9.0K | -$9.0K | — | — | — |
PSB Group, LLC | Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) | First Lien Debt (Revolver) | -$5.0K | -$5.0K | $0.00 | — | +6.75% | 2030-04-17 |
SS Acquisition, LLC | Sports and Recreation Instruction | First Lien Debt (Revolver) | -$20.0K | -$8.0K | -$12.0K | — | +5.75% | 2029-12-20 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | First Lien Debt (Revolver) | — | -$6.0K | — | — | +6.50% | 2027-02-25 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt (Delayed Draw) | — | -$16.0K | — | — | +5.75% | 2026-10-15 |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt (Revolver) | — | -$6.0K | — | — | +6.00% | 2029-10-20 |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | Common Equity | — | — | — | — | — | — |
Disclosed holdings FV
$382.75M
Parsed holdings FV
$382.75M
Residual gap
$0.00
Balance-sheet cash
$10.24M
CIK
0001487918
Accession
0001487918-25-000093
Form type
10-Q
Period
2025-06-30