OFS
OFS Capital
Portfolio Fair Value
$403.07M
102 holdings
Avg Spread
+6.51%
FV-weighted, debt
Avg Coupon
12.96%
FV-weighted
% First Lien
45.7%
of debt FV
Unrealized P/L
+$37.85M
+10.36% of cost
Non-Accrual
8
text-detected
Balance sheet
Assets$411.96M
Liabilities + Equity$411.96M
First Lien
$184.31M · 44.7%
First Lien
$184.31M · 44.7%
Second Lien
$31.55M · 7.7%
Subordinated
$79.53M · 19.3%
Subordinated
$79.53M · 19.3%
Equity
$107.67M · 26.1%
Equity
$107.67M · 26.1%
Cash & Equivalents
$4.05M · 1.0%
Other Assets
$4.84M · 1.2%
Debt (Borrowings)
$248.05M · 60.2%
Debt (Borrowings)
$248.05M · 60.2%
Other Liabilities
$3.53M · 0.9%
Net Assets (Equity)
$160.38M · 38.9%
Net Assets (Equity)
$160.38M · 38.9%
Industry Composition
Pharmaceutical Preparation Manufacturing
22.5%
Structured Finance Securities
17.5%
Services for the Elderly and Persons with Disabilities
6.3%
Other Ambulatory Health Care Services
4.3%
Other Computer Related Services
4.2%
Sports and Recreation Instruction
4.1%
Motorcycle, Bicycle, and Parts Manufacturing
3.8%
Offices of Other Holding Companies
3.0%
Office Machinery and Equipment Rental and Leasing
2.5%
Software Publishers
2.3%
Park Avenue Institutional Advisers CLO Ltd. 2021-1
2.3%
Temporary Help Services
2.1%
Other industries
25.0%
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
102 of 105
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
Pfanstiehl Holdings, Inc. | Pharmaceutical Preparation Manufacturing | Common Equity | $90.76M | $217.0K | $90.55M | — | — | — |
SS Acquisition, LLC | Sports and Recreation Instruction | First Lien Debt | $16.67M | $16.84M | -$174.0K | 10.30% | +6.00% | 2029-12-20 |
Kreg LLC | Other Ambulatory Health Care Services | First Lien Debt | $16.61M | $17.46M | -$850.0K | — | +6.25% | 2026-12-20 |
Inergex Holdings, LLC | Other Computer Related Services | First Lien Debt | $14.74M | $14.63M | $108.0K | — | +7.00% | 2026-10-01 |
Tolemar Acquisition, Inc. | Motorcycle, Bicycle, and Parts Manufacturing | First Lien Debt | $14.38M | $15.25M | -$871.0K | — | +6.00% | 2026-10-14 |
Contract Datascan Holdings, Inc. | Office Machinery and Equipment Rental and Leasing | Preferred Equity | $10.26M | $8.69M | $1.56M | — | — | — |
ICG US CLO 2021-3 Ltd | Structured Finance Securities | Subordinated Notes | $9.89M | $8.22M | $1.67M | 32.82% | — | 2034-10-20 |
Canyon CLO 2019-1 Ltd | Structured Finance Securities | Subordinated Notes | $9.89M | $9.48M | $414.0K | 25.32% | — | 2037-07-15 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | First Lien Debt | $9.39M | $9.34M | $59.0K | 10.92% | +6.50% | 2027-02-25 |
24 Seven Holdco, LLC | Temporary Help Services | First Lien Debt | $8.46M | $8.43M | $27.0K | 11.54% | +7.13% | 2027-11-16 |
Planet Bingo, LLC (F/K/A 3rd Rock Gaming Holdings, LLC) | Software Publishers | First Lien Debt | $8.29M | $14.11M | -$5.82M | 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 | $7.76M | $8.80M | -$1.04M | 11.15% | +6.75% | 2029-08-01 |
Apex Credit CLO 2020 Ltd. | Structured Finance Securities | Subordinated Notes | $7.31M | $9.30M | -$1.99M | 16.99% | — | 2035-04-20 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt #1 | $7.10M | $7.31M | -$208.0K | 11.17% | +6.75% | 2025-12-22 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #1 | $6.38M | $6.33M | $54.0K | 10.20% | +5.75% | 2027-10-15 |
Apex Credit CLO 2022-1 Ltd | Structured Finance Securities | Subordinated Notes | $6.07M | $8.40M | -$2.33M | 7.70% | — | 2033-04-22 |
Convergint Technologies Holdings, LLC | Security Systems Services (except Locksmiths) | Second Lien Debt | $5.94M | $5.88M | $57.0K | 11.19% | +6.75% | 2029-03-30 |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | First Lien Debt | $5.94M | $6.21M | -$279.0K | 7.50% | — | 2026-12-31 |
Battalion CLO XI, Ltd. | Structured Finance Securities | Mezzanine Debt - Class E | $5.67M | $6.00M | -$323.0K | 11.41% | +6.85% | 2034-04-24 |
Excelin Home Health, LLC | Home Health Care Services | Second Lien Debt | $5.34M | $6.17M | -$826.0K | — | — | 2026-10-01 |
BlueMountain CLO XXXV Ltd. | Structured Finance Securities | Subordinated Notes | $5.33M | $5.85M | -$518.0K | 22.30% | — | 2035-07-22 |
Madison Park Funding XXIX, Ltd. | Structured Finance Securities | Subordinated Notes | $5.21M | $5.50M | -$288.0K | 16.69% | — | 2047-10-18 |
Apex Credit CLO 2021 Ltd | Structured Finance Securities | Subordinated Notes | $4.90M | $6.21M | -$1.31M | 15.41% | — | 2034-07-18 |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt #1 | $4.72M | $9.56M | -$4.85M | — | +5.25% | 2025-04-30 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #3 | $4.49M | $4.46M | $32.0K | 10.20% | +5.75% | 2027-10-15 |
BayMark Health Services, Inc. | Outpatient Mental Health and Substance Abuse Centers | Second Lien Debt #1 | $4.36M | $4.93M | -$566.0K | 13.06% | +8.50% | 2028-06-11 |
Brightwood Capital MM CLO 2023-1, Ltd. | Structured Finance Securities | Subordinated Notes | $4.27M | $4.94M | -$667.0K | 11.49% | — | 2035-10-15 |
TruGreen Limited | — | Partnership, Second Lien Debt | $4.25M | $4.57M | -$320.0K | 13.05% | +8.50% | 2028-11-02 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #2 | $4.04M | $4.00M | $40.0K | 10.20% | +5.75% | 2027-10-15 |
Voya CLO 2024-7, Ltd. | Park Avenue Institutional Advisers CLO Ltd. 2021-1 | Subordinated Notes | $3.84M | $3.84M | $0.00 | 16.46% | — | 2038-01-20 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt #2 | $3.74M | $3.85M | -$109.0K | 11.17% | +6.75% | 2025-12-22 |
Madison Park Funding XXIII, Ltd. | Structured Finance Securities | Subordinated Notes | $3.61M | $4.37M | -$754.0K | 10.77% | — | 2047-07-27 |
BCPE North Star US Holdco 2, Inc. (F/K/A Dessert Holdings) | Ice Cream and Frozen Dessert Manufacturing | Second Lien Debt | $3.53M | $3.42M | $108.0K | 11.69% | +7.25% | 2029-06-08 |
BayMark Health Services, Inc. | Outpatient Mental Health and Substance Abuse Centers | Second Lien Debt #2 | $3.50M | $3.96M | -$454.0K | 13.06% | +8.50% | 2028-06-11 |
Wellful Inc. (F/K/A KNS Acquisition Corp.) | Electronic Shopping and Mail-Order Houses | First Lien Debt #2 | $3.31M | $4.36M | -$1.05M | — | +6.25% | 2030-10-19 |
Clevertech Bidco, LLC | Commodity Contracts Dealing | First Lien Debt | $3.13M | $3.09M | $33.0K | 11.20% | +6.75% | 2027-12-30 |
LCM 42 Ltd. | Structured Finance Securities | Subordinated Notes | $3.12M | $3.12M | $0.00 | 16.91% | — | 2038-01-15 |
First Brands Group, LLC | Other Motor Vehicle Parts Manufacturing | First Lien Debt #1 | $3.11M | $3.30M | -$190.0K | 9.55% | +5.00% | 2027-03-30 |
Wellful Inc. (F/K/A KNS Acquisition Corp.) | Electronic Shopping and Mail-Order Houses | First Lien Debt #1 | $2.79M | $2.84M | -$57.0K | 9.44% | +5.00% | 2030-04-19 |
Venture 45 CLO Limited. | Park Avenue Institutional Advisers CLO Ltd. 2021-1 | Mezzanine Debt - Class E | $2.70M | $2.96M | -$253.0K | 11.99% | +7.70% | 2035-07-20 |
Metasource, LLC | All Other Business Support Services | First Lien Debt | $2.60M | $2.71M | -$110.0K | — | +6.25% | 2027-05-17 |
Allen Media, LLC | Cable and Other Subscription Programming | First Lien Debt | $2.59M | $3.68M | -$1.09M | 9.95% | +5.50% | 2027-02-10 |
Idera Inc. | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | Second Lien Debt | $2.53M | $2.68M | -$150.0K | 11.19% | +6.75% | 2029-03-02 |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | First Lien Debt #1 | $2.49M | $2.56M | -$69.0K | — | +8.25% | 2026-08-31 |
Inergex Holdings, LLC | Other Computer Related Services | First Lien Debt (Revolver) | $2.34M | $2.34M | $0.00 | — | +7.00% | 2026-10-01 |
Staples, Inc. | Business to Business Electronic Markets | First Lien Debt | $2.28M | $2.47M | -$192.0K | 10.04% | +5.75% | 2029-09-04 |
Associated Spring, LLC | Spring Manufacturing | First Lien Debt | $2.23M | $2.22M | $11.0K | 10.17% | +5.75% | 2030-04-04 |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt | $2.23M | $2.16M | $66.0K | 10.44% | +6.00% | 2029-10-20 |
Brightwood Capital MM CLO 2023-1, Ltd. | Structured Finance Securities | Mezzanine Debt - Class E | $2.18M | $1.97M | $202.0K | 14.66% | +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 | $2.09M | $4.42M | -$2.33M | 12.30% | +7.75% | 2029-04-27 |
AIDC IntermediateCo 2, LLC | Computer Systems Design Services | First Lien Debt #1 | $1.96M | $1.93M | $27.0K | 9.82% | +5.50% | 2027-07-22 |
Dryden 76 CLO, Ltd. | Structured Finance Securities | Subordinated Notes | $1.92M | $3.10M | -$1.18M | 9.29% | — | 2037-10-15 |
Creation Technologies | Bare Printed Circuit Board Manufacturing | First Lien Debt | $1.92M | $1.94M | -$21.0K | 10.06% | +5.50% | 2028-10-05 |
East West Manufacturing | Fluid Power Pump and Motor Manufacturing | First Lien Debt | $1.91M | $1.90M | $10.0K | 10.04% | +5.75% | 2028-12-22 |
JP Intermediate B, LLC | Drugs and Druggists' Sundries Merchant Wholesalers | First Lien Debt | $1.90M | $4.49M | -$2.59M | 14.00% | +6.50% | 2027-11-20 |
DRS Imaging Services, LLC | Data Processing, Hosting, and Related Services | Common Equity | $1.85M | $1.14M | $713.0K | — | — | — |
First Brands Group, LLC | Other Motor Vehicle Parts Manufacturing | First Lien Debt #2 | $1.52M | $1.61M | -$95.0K | 9.55% | +5.00% | 2027-03-30 |
TalentSmart Holdings, LLC | Professional and Management Development Training | Common Equity | $1.50M | $1.59M | -$95.0K | — | — | — |
Signal Parent, Inc. | New Single-Family Housing Construction (except For-Sale Builders) | First Lien Debt | $1.49M | $1.77M | -$281.0K | 7.92% | +3.50% | 2028-04-03 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt (Revolver) | $1.40M | $1.44M | -$41.0K | 11.17% | +6.75% | 2025-12-22 |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt #3 | $1.28M | $2.60M | -$1.32M | — | +5.25% | 2025-04-30 |
Avison Young Inc | Nonresidential Property Managers | First Lien Debt #1 | $1.27M | $1.59M | -$317.0K | 6.06% | +8.00% | 2029-03-12 |
PM Acquisition LLC | All Other General Merchandise Stores | Common Equity | $1.26M | $499.0K | $761.0K | — | — | — |
THL Credit Wind River 2019‐3 CLO Ltd | Park Avenue Institutional Advisers CLO Ltd. 2021-1 | Subordinated Notes | $1.25M | $3.76M | -$2.51M | 0.00% | — | 2031-04-15 |
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% | — | — |
Monroe Capital MML CLO X, Ltd. | Structured Finance Securities | Mezzanine Debt - Class E-R | $1.00M | $982.0K | $18.0K | 13.07% | +8.75% | 2034-05-20 |
Park Avenue Institutional Advisers CLO Ltd | Park Avenue Institutional Advisers CLO Ltd. 2021-1 | 2021-1, Mezzanine Debt - Class D | $998.0K | $987.0K | $11.0K | 11.85% | +7.30% | 2034-01-20 |
Tolemar Acquisition, Inc. | Motorcycle, Bicycle, and Parts Manufacturing | First Lien Debt (Revolver) | $937.0K | $1.02M | -$88.0K | 10.42% | +6.00% | 2026-10-14 |
Redstone Holdco 2 LP (F/K/A RSA Security) | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | First Lien Debt | $934.0K | $1.71M | -$776.0K | 9.30% | +4.75% | 2028-04-27 |
RPLF Holdings, LLC | Software Publishers | Common Equity | $933.0K | — | — | — | — | — |
GoTo Group (F/K/A LogMeIn, Inc.) | Data Processing, Hosting, and Related Services | First Lien Debt #1 | $869.0K | $933.0K | -$64.0K | 9.19% | +4.75% | 2028-04-28 |
Kreg LLC | Other Ambulatory Health Care Services | First Lien Debt (Revolver) | $823.0K | $888.0K | -$65.0K | 10.55% | +6.25% | 2026-12-20 |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | First Lien Debt (Revolver) | $784.0K | $899.0K | -$115.0K | 7.50% | — | 2026-12-31 |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | First Lien Debt #2 | $752.0K | $780.0K | -$28.0K | — | +8.25% | 2026-08-31 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | Common Equity | $679.0K | $1.29M | -$611.0K | — | — | — |
GoTo Group (F/K/A LogMeIn, Inc.) | Data Processing, Hosting, and Related Services | First Lien Debt #2 | $606.0K | $1.29M | -$683.0K | 9.19% | +4.75% | 2028-04-28 |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt #2 | $510.0K | $1.03M | -$523.0K | — | +5.25% | 2025-04-30 |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt (Delayed Draw) | $375.0K | $366.0K | $9.0K | 10.25% | +6.00% | 2029-10-20 |
Trinitas CLO VIII, Ltd | Park Avenue Institutional Advisers CLO Ltd. 2021-1 | Subordinated Notes | $364.0K | $2.42M | -$2.06M | 0.00% | — | — |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | Preferred Equity | $359.0K | $345.0K | $14.0K | — | — | — |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt (Revolver) | $132.0K | $266.0K | -$134.0K | — | +5.25% | 2025-04-30 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt (Revolver) | $95.0K | $88.0K | $7.0K | 12.25% | +4.75% | 2027-10-15 |
Constellis Holdings, LLC | Other Justice, Public Order, and Safety Activities | Common Equity | $63.0K | $703.0K | -$640.0K | — | — | — |
AIDC IntermediateCo 2, LLC | Computer Systems Design Services | First Lien Debt #2 | $46.0K | $45.0K | $1.0K | 9.82% | +5.50% | 2027-07-22 |
Avison Young Inc | Nonresidential Property Managers | First Lien Debt #2 | $19.0K | $469.0K | -$450.0K | 6.06% | +8.00% | 2029-03-12 |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | Warrants | $15.0K | $200.0K | -$185.0K | — | — | — |
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 | — | — | — |
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 | Second Lien Debt | $0.00 | $6.58M | -$6.58M | — | — | 2027-12-31 |
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 | — | — | — |
Clevertech Bidco, LLC | Commodity Contracts Dealing | First Lien Debt (Revolver) | -$3.0K | -$6.0K | $3.0K | — | +6.75% | 2027-12-30 |
Associated Spring, LLC | Spring Manufacturing | First Lien Debt (Delayed Draw) | -$24.0K | -$8.0K | -$16.0K | — | +5.75% | 2030-04-04 |
SS Acquisition, LLC | Sports and Recreation Instruction | First Lien Debt (Revolver) | -$27.0K | -$8.0K | -$19.0K | — | +6.00% | 2029-12-20 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | First Lien Debt (Revolver) | — | -$7.0K | — | — | +6.50% | 2027-02-25 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt (Delayed Draw) | — | -$19.0K | — | — | +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
$403.07M
Parsed holdings FV
$403.07M
Residual gap
$0.00
Balance-sheet cash
$4.05M
CIK
0001487918
Accession
0001487918-25-000035
Form type
10-Q
Period
2025-03-31